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Cosmo-Traders

China|Within 1 year|
Suspicious Scope of Business|High potential risk|

https://cosmo-traders.com/

Website

Rating Index

Contact

https://cosmo-traders.com/

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Disclosure

Danger

ES CNMV
2024-06-03

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Warning: Low score, please stay away!
Previous Detection : 2024-11-25
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

Cosmo-Traders · WikiFX Survey

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Cosmo-Traders · Company Summary

Note: Cosmo-Traders' official website: https://cosmo-traders.com/ is currently inaccessible normally.

Cosmo-Traders Review Summary
Founded2024
Registered Country/RegionChina
RegulationUnregulated
Market InstrumentsForex currency pairs, indices, commodities, precious metals, stocks, and cryptocurrencies
Demo Account/
LeverageUp to 1:400
EUR/ USD SpreadFrom 0.5 pips
Trading PlatformsA web-based terminal
Minimum Deposit$5,000
Customer Support/

Cosmo-Traders is a newly-established company who offers forex trading through its web-based trading platform. It offers flexible leverages. However, it might be a scam because of too high minimum deposit requirement, unregulated status and inaccessible website.

Cosmo-Traders

Pros and Cons

ProsCons
Flexible leverage ratiosNewly established
Unregulated
Inaccessible website
High minimum deposit requirement
No reliable trading software

Is Cosmo-Traders Legit?

Upon examining the background of this self-identified fraudulent provider, several warning signs quickly became apparent. A regulatory alert from the Financial Conduct Authority (FCA) dated November 27, 2023, raises significant concerns about Cosmotraders. Similar to the situation with FBK Markets, it was revealed that Cosmotraders does not possess the required licensing to provide Forex trading services, posing a potential risk to all funds deposited with the platform. Whats more, its official website is not available.

What Can I Trade on Cosmo-Traders?

Cosmo-Traders provides forex currency pairs, indices, commodities, precious metals, stocks, and cryptocurrencies.

Tradable InstrumentsSupported
Forex
Commodities
Indices
Cryptocurrencies
Precious Metals
Stocks
Bonds
Mutual Funds

Account Type

Cosmo-Traders offers the Presidential, Executive, Platinum, Premium and Green accounts with the minimum deposit of $250,000, $100,000, $50,000, $15,000 and $5,000 respectively. These amounts are very high. Traders should be cautious to trade on this broker.

Leverage

Cosmo-Traders offers varying leverage. The Presidential account offers the highest leverage at 1:400. Next, the Executive account provides a leverage of 1:300. Both the Platinum and Premium accounts share the same leverage of 1:200. Lastly, the Green account also offers a leverage of 1:200.

Account TypeMaximum Leverage
Presidential1:400
Executive1:300
Platinum1:200
Premium1:200
Green1:200

Cosmo-Traders Fees

The spread for the Presidential account ranges from 0.5 pips to 1 pip. For the Executive account, the spread varies between 1 pip and 1.5 pips. Meanwhile, the Platinum account offers spreads from 1.5 pips to 2 pips, whereas the Premium account has spreads from 2 pips to 2.5 pips. Lastly, the Green account features spreads that range from 2.5 pips to 3 pips.

Account TypeSpread Range (pips)
Presidential0.5 - 1
Executive1 - 1.5
Platinum1.5 - 2
Premium2 - 2.5
Green2.5 - 3

Trading Platform

Cosmo-Traders offers a web-based terminal to trade their trading instruments. However, this platform falls short in terms of functionality and reliability compared to industry-standard platforms.

Web based

Deposit and Withdrawal

Cosmo-Traders supports e-wallets like Neteller, Skrill, FasaPay, and PayPal, as well as wire transfers and credit/debit card payments. Withdrawal requests at Cosmo Traders are reportedly processed within 5–10 business days to make a withdrawal.

The Bottom Line

In conclusion, Cosmo-Traders exhibits several warning signs that prospective clients should thoroughly evaluate them. First, there is no regulation to oversight them. Second, their trading conditions are dangerous. Although Cosmo-Traders provides a variety of payment options and flexible leverages, these benefits are overshadowed by a lack of transparency, high minimum deposits, the absence of demo accounts, and doubts about the safety and security of funds.

FAQs

Is Cosmo-Traders a good for beginners?

No. Beginners should look for regulated and more reliable brokers.

Is Cosmo-Traders good for day trading?

No.

What security measures does Cosmo-Traders have in place to protect my funds and personal information?

No.

Broker Information

Company Name

Cosmo-Traders

Abbreviation

Cosmo-Traders

Regulatory Status

No Regulation

Platform registered country and region

China

Company website
Phone of the company

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X

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Facebook

--

Instagram

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YouTube

--

Company address

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Linkedin

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Company Summary

Review

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