Thinking of getting into business with Euro Trade FX? Should you trade with this broker? Read this review to know if eurotradefx.com is the trading platform you will want to trade with.
Table of Contents
About Euro Trade FX Broker
Euro Trade FX is a brokerage company with attractive offers for traders. The location of this broker is Saint Vincent Grenadines.
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Euro Trade FX claims to give traders currency pairs and CFDs and other assets. It offers a low EUR/USD spread with 0.2 pips in Buy/Sell.
Euro Trade FX presents on its website as a CySEC regulated broker. This is a disguise that comes with a price. Well, this can’t be proved in any way whatsoever.
While there are attractive promises by Euro Trade FX, we want you to know these are too good to be true.
eurotradefx.com: Reasons to Avoid This Broker
eurotradefx.com is a platform with no regulatory body overseeing its financial services. This is a serious turn off for traders thinking of using an unregulated broker because money puts in this platform is at risk. We can’t stop pointing the importance of regulation especially when you are dealing with an offshore broker like this one.
Another red flag we found in this eurotradefx.com is that there is no free account for traders. If traders can test the services of Euro Trade FX on a demo account, how can they know its viability in the real market.
eurotradefx.com is a clear scam that Cyprus Security and Exchange Commission, CySEC has labeled it so. This is a warning for traders to avoid this broker.
Withdrawal and Deposit
Withdrawal process
Euro Trade FX broker does not state the fee it charges traders for withdrawal. Scam brokers like this one are known to ask for more money when traders make withdrawal requests. This is because there is no initial amount traders must pay.
Minimum Deposit
Euro Trade FX minimum deposit is stated $100 on the website. Even though this broker shows not too cost deposit, that does not make it legit for traders. Any broker can likely do the same.
The payment methods of Euro Trade FX broker are Bitcoin, SerenityPay and FavBuys. Payments with these options seem untrustworthy, especially the two unpopular options.
Euro Trade FX Platform
Euro Trade FX claims to use Meta Trader platform. This broker’s claim is doubtful as it offers traders a Web platform instead.
Euro Trade FX offers different account types such as Silver, Gold, Premium, Platinum and VIP account.
Euro Trade FX leverage is 1:100. The leverage set by this broker is quite attractive. But trading under a scam broker like this one is a much risk. So, think if you will want to fall to such offer.
In spite the attractive offers Euro Trade FX broker presents, we can’t find a free account for traders to test the platform before they consider depositing their money.
Euro Trade FX Licensing and Regulations
We have found out that Euro Trade FX broker is not a licensed brokerage firm. It is not under any financial regulation that means your money is at risk with this broker. Regulators like Cyprus Security and Exchange Commission, CySEC and the others don’t grant license to an offshore broker like this one.
In fact, scam alert is labeled on Euro Trade FX by CySEC. Their financial services are illegal and must be avoided.
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Conclusion: Is eurotradefx.com a Legit Broker?
We say no. eurotradefx.com is not a legit broker for traders and if you are thinking of doing business with this broker, we advise you change your mind from this broker.
The red flag raised against eurotradefx.com by financial authority is a warning for traders to stay clear of Euro Trade FX.
We will not recommend this broker for trading for reasons we have mentioned.
Kindly share your comment about this broker in the comment section.