Thinking of getting into business with Firstradecfd? Here is what you must know about this broker. Carefully read this review to find out if firstradecfd.com is the trading platform you will want to trade with.
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About Firstradecfd Broker
Firstradecfd is an offshore brokerage company with a lot of promises for traders. The broker address shows it is from United Kingdom under a brand name called PX Fintech Limited.
Added, the broker claims regulation from FCA, ASIC & FSCA.
To clarify, in spite the trading instruments Firstradecfd claims to offer, traders must know they are dealing with an unknown broker which does not have a regulation over its head.
firstradecfd.com: Reasons to Avoid This Broker
Firstly, firstradecfd.com is a platform with no financial authority overseeing its financial services. We discover the broker is not approved among licensed brokers in Financial Conduct Authority (FCA), UK data-base.
Secondly, we noticed firstradecfd.com has a free account for traders. We advise you don’t waste your time on that, so you don’t get lured into trading real fund with this unregulated broker. .
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are cons for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Withdrawal and Deposit
Withdrawal process
Under withdrawal policy, Firstradecfd provides no specific information on withdrawal fee nor processing days on any withdrawal. Truly, this broker is a scam and its fraudulent schemes are clear.
Minimum Deposit
Firstradecfd minimum deposit is not available.
As for the payment methods, Firstradecfd provides no information. Truly, you should not consider making any payment with this broker because it is a risk. So beware!
Firstradecfd Platform
Firstradecfd offers web based trading platform and not MT4 or MT5 (Industry standard trading platforms) which gives us more reason not to take this broker serious.
As for the leverage, The broker discusses nothing. In fact, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Firstradecfd Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
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Licensed in Australia(ASIC) and Cyprus(Cysec)
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Conclusion: Is firstradecfd.com a Reliable Broker?
No, firstradecfd.com does not seem like a reliable broker for traders even though it promises offers that look good to be true.
Most importantly, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to find out scam forex brokers and also share reasons, we will not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.