Is Fx Option Trade247 regulated？
Fx Option Trade247 is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, never monitored in terms of its safety and simply may operate the business in any way it wishes.Fx Option Trade247 is owned and operated by EXPERT Ltd, located in Seychelles.
ABOUT THE BROKER AND REGULATORY STATUS
Fx Option Trade247 offers a selection of 250 underlying assets from four different classes including Currency Pairs, Commodities, Indices or Treasuries. The broker claims to provide the industry leading platforms along with the advanced charting tools and indicators to help its clients manage the risk and better determine price direction. However, there are a few concerns about the brokers regulation
Is Fx Option Trade247 regulated？
Fx Option Trade247 is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, never monitored in terms of its safety and simply may operate the business in any way it wishes.Fx Option Trade247 is owned and operated by EXPERT Ltd, located in Seychelles.
The point is that Seychelles offers an easy process of financial or investment firm establishment, through a very low list of requirements, small budgets and what is more crucial with no strict supervision of the brokers‘ operation or history. For that reason, offshore zones attract vast non-scrupulous or shady brokerages such as Hugo’s Way, Prime XBT that aim to attract clients, to grab their funds and disappear.
There are a lot of offshore-registered brokers out there claiming that offshore registration is a legit thing that allows them to do business in the financial market. However, most of them are simply registered, and not licensed, nor monitored by any governmental agency, which makes those firms the most dangerous places for investing.
The regulation status of a broker is one of the most critical points while choosing the right broker. Here, with Fx Option Trade247 broker, it seems not to be regulated in its jurisdiction of operation and is indulged in scam activities. There is a high possibility that Fx Option Trade247 has been warned by reputed regulation authorities like CySec, ASIC, FCA, CNMV, FINMA, etc. Warning issued by any of these authorities clearly indicated that the broker is not a good fit to invest your hard-earned money with.
ACCOUNT AND LEVERAGE
Fx Option Trade247 does offer a Forex / CFD “Demo Account”. Demo account is a great opportunity to practice strategies and become familiar with the platform with their demo account option.
TRADING INSTRUMENTS
Fx Option Trade247 offers a selection of 250 underlying assets from four different classes including Currency Pairs, Commodities, Indices or Treasuries.
TRADING PLATFORM
At the time if our recent review about this broker, we couldnt find the actual trading platform offered by the broker. But we always suggest you to check for the brokers offering MT4 and MT5 before trading.
DEPOSIT AND WITHDRAWAL METHOD
Fx Option Trade247 works with a variety of payment service providers to ensure that you can choose from a wide range of deposit methods in your country. You can always make a deposit via credit card or bank transfer.
Normally theminimum deposit required is 200€/$/£.
When opening your trading account, you can select your desired currency. You can choose between EUR (€), USD ($), GBP (£), PLN (zł), DKK (kr), SEK (kr), NOK (kr) and CHF (Fr.).
The minimum withdrawal amount is €10 / $10 / £10. This is in most cases processed free of charge. The following exceptions exist: The customer has not invested (traded) their deposited amount at least once. The customer has more than €100 / $100 / £100 in their trading account and would like to withdraw less than €100 / $100 / £100. In these situations, a withdrawal fee of 5% of the withdrawal amount (minimum €25 / $25 / £25) will be applied.
