FTCA Review Is Ftel-fx.com A Legit Forex Broker

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FTCA Review: Is Ftel-fx.com A Legit Forex Broker?

Ftel-fx.com Review: this is the name of a Forex broker that offers CFD and claims to be based in the UK. Is FTCA a scam Forex broker? Lots of Forex brokers have turned out to be scams, to avoid falling victim, read this review first.

We start our reviews by checking if the firm under scrutiny is properly licensed in the location where it operates. For this brokerage, it is mentioned that it is located in the United Kingdom. All Forex brokers in this region are to have a license and be registered under the FCA. The website mentions this as well.

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On checking, we could not find the name of the company that owns the broker and that it is not licensed by the Financial Conduct Authority (FCA). As an unregulated broker, there are no restrictions and rules that FTCA must follow and not fall short of. Issues with this broker would not be looked into by any authority as well.

Advantages of FTCA

When we accessed the website of FTCA we found out that it promises a popular trading platform. also, it claims to have faster speed, lower spread and better service. All of this are promised to give clients a better chance of making gain in the market.

It is common for brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

FTCA Trading Platform

It is mentioned that FTCA has a MT4 trading platform for traders to use. We discourage traders from using web-based trading platforms and instead opt for brokers offering either MT4 or MT5. The MetaTrader platforms are commonly used because they allow the use of trading robots.

Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.

Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.

Trading instruments that are in use are: currency pairs and CFDs on precious metals, energy, index spread, contract, and stocks. Cryptocurrencies are not yet available with this broker. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

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Maximum leverage offered to clients is 1:200 and while this may seem generous but they could pose danger. High leverages can lead to huge loss of funds as well. Spreads are not disclosed on the EURUSD pairs.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on FTCA

There is no mention of the means by which deposits and withdrawals are to be made for trading with this company. This is discouraging because standard and legit brokers make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on.

Minimum deposit required is placed at $1,000 and we find this to be higher than the obtainable average of $100 – $250 among brokers. Withdrawal fees are not disclosed and we prefer the broker to mention if they apply or not.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Is FTCA Licensed?

No. We have stated it in the beginning of this review that the website of the FTCA falsely claims to be licensed in the UK. Unregulated brokers are a danger as they have no authority watching what they do. Funds invested in them are at risk as well.

This is not all, the Financial Conduct Authority have also mentioned that traders are not to invest in FTCA. It falsely uses the license number of another trading company. This is a popular tactic used by scam firms and our readers need to know about this.

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers and we advise our readers to ensure they are dealing with the UK based GTMMarket.

Support

To reach the customer care service of this company, send an email to: [email protected]

Conclusion

Traders should not choose FTCA for trading the Forex market because its image does not look good. There is no proper licensing and the details we are used to looking for in brokers is missing on its website. Also, there is a warning issued by the FCA against it. If you have anything to add to this Forex broker review, do so via the comment section.

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Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

FTCA Review – is ftel-fx.com scam or good forex broker?

Trading Accounts and Conditions

Trading account Min. deposit Max. leverage Spread
Mini $1 000 1:200 N/A
Standard N/A 1:100 N/A

FTCA presents itself as a forex and CFD brokerage authorized to operate in the UK. It also claims to offer access to the MetaTrader and two account types, as well as a demo one. Unfortunately, all of these claims turned out to be false and this hasnt gone unnoticed by the UK financial regulator. Read all the details in the below review.

FTCA Advantages

MT4 allegedly supported, high leverage

Although this broker appears to be a fraudster, there are a few parts of its offer that appear attractive. For example, the broker says to support the ever-popular MetaTrader4 (MT4). This platform offers great charting capabilities, an astonishing environment for the development of custom tools (MQL) and automated trading systems (Expert Advisors) which the so called “marketplace” has to offer.

The problem is that we are not sure FTCA really supports this platform, as it is not freely downloadable from its website, and the broker does not offer demo accounts.

Furthermore, FTCA claims to offers leverage up to 1:200 on mini accounts. This may sound attractive to some investors, although such maximum leverage ratio is significantly higher than the maximum allowed to retail traders in the UK.

FTCA Disadvantages

No company name, false claims of regulation

There is actually very little information about FTCA on its website – we couldn’t find any company name, nor address or contact number.

Yet, the broker claims to be licensed by the UK’s Financial Conduct Authority and even provides a reference number.

However, our check in the FCA’s online register revealed that this registration number belongs to ATFX – a legitimate brokerage with which FTCA are not associated in any way.

In our view, brokers that present such purposefully misleading information should be avoided at all costs, because they are obviously brutal scams. Besides, the people operating FTCA are obviously not bound by any government regulator, which means and that potential clients (or victims) have no one to turn to in case they have been cheated, which is very likely to happen.

Blacklisted by the FCA as a clone

Considering the above, it is not surprising that the broker got under the radar of the FCA. The regulator flagged the FTCA as a clone firm, illegally using the details of a regulated company, and advised investors to avoid it.

Not enough information

Furthermore, FTCA has not presented important parts of its offer on the website, such as spreads, transfer fees, etc., nor does offer free demo accounts. Our experience shows that when an unregulated broker is not transparent with the services and pricing it offers, it is 100% a scam.

High initial deposit

On top of all disturbing facts regarding FTCA, the broker requires an initial investment of $1 000 for its mini account. Do have in mind that most brokers, including licensed and reliable ones, require way lower initial deposits ($100 or even less).

Conclusion

Overall, FTCA does a very poor job at presenting its trading offer, and obviously tries to mislead investors it is a brand of a genuine and legitimate firm. What is worse, the UK’s FCA has exposed the broker as a clone, so our best advice is to stay away from FTCA, and always check carefully whether a broker is really licensed in the respective public registers.

Also, don’t give away your card info with the CVV code, and don’t provide access to your computer and bank account via Anydesk or Teamviewer, without first making sure that the broker is licensed by a reputable financial authority.

And finally, here are the highlights of the present review of FTCA:

MT4 allegedly supported, high leverage

No company info, false claims of regulation

Blacklisted by the FCA as a clone

Not enough trading info

High initial deposit

Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

FTCA Review

FTCA is an unlicensed Forex and CFD broker. There is actually very little information about FTCA on its website as we couldn’t find any company name, nor address or contact number.

FTCA presents itself as a forex and CFD brokerage authorized to operate in the UK. It also claims to offer access to the MetaTrader and two account types, as well as a demo one.

ftel-fx.com is considered not safe, as it is not regulated by top-tier financial authorities, like the CySEC in Europe, UK FCA and the Australian ASIC.

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FTCA Review

During our review of FTCA broker, we established that FTCA does a very poor job at presenting its trading offer, and obviously tries to mislead investors it is a brand of a genuine and legitimate firm. What is worse, the UK’s FCA has exposed the broker as a clone, so our best advice is to stay away from FTCA, and always check carefully whether a broker is really licensed in the respective public registers.

Trading Platform

During our check of FTCA broker they said that they are using the popular MT4 platform. This platform offers great charting capabilities, an astonishing environment for the development of custom tools (MQL) and automated trading systems (Expert Advisors) which the so called “marketplace” has to offer.

The problem is that we are not sure FTCA really supports this platform, as it is not freely downloadable from its website, and the broker does not offer demo accounts.

Breakdown

Location: N/A

Minimum deposit: $1000

Spread: N/A

Leverage: Max 1:200

Assets: Forex, CFD, Indices, Oil & Gas, Precious Metals

Support MT4: Available

License: No license

FTCA License

Here are the Scam Expert Advisor, we have reviews of many Forex brokers and trading software. The number one item we check when reviewing a broker to see if they are a scam is a valid license.

The reason smart people online invest with a licensed broker, is because there are many investment scams online. By using a licensed and regulated broker, you know your money is safe, and the company is monitored by the governments regulators.

  • FTCA is completely anonymous and is not a licensed broker

Considering the above, it is not surprising that the broker got under the radar of the FCA. The regulator flagged the FTCA as a clone firm, illegally using the details of a regulated company, and advised investors to avoid it.

Go for brokers who have a solid reputation and are backed by the trading community. What are you waiting for? . Go for brokers who will be available to you at all times. Accountable and affordable brokers are what you need to success. Time to make real and stable profits is now with credible brokers.

Review Verdict – FTCA is a Scam – Avoid!

Our best advise for you

How can funds be safe from a broker who is anonymous and claims to be based authorized? Why have they failed to inform members how they handle funds? Where is their base of operation? Which bank do they use to store funds deposited by members? Is it possible users are depositing funds to owner’s bank account? Segregation of accounts is also another big issue. FTCA is pooling funds in one account which is not acceptable.

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