Fuelta Review – Is There Really Anything Positive About Them?
Fuelta broker becomes a definition of a con artist. Without any transparency and an inactive website, they are pretending to look legit. Thus, nobody showed them what a legitimate trading company looks like. Therefore, this Fuelta review serves traders with hurtfull facts about this shady brokerage. But also the signs that can be applied with any broker to determine their credibility.
|Spread||From 0.1 pips|
Regulation and Security of Fuelta
Security is not this broker’s main priority. Without any information about ownership or location, it’s hard to determine what jurisdiction they belong to. But if they don’t have a Tier 1 license, there is nothing much to look for here.
Therefore, we are checking our standard list. Primarily European regulators like FCA, BaFin, CNMV and CONSOB. Consequently, US CFTC and Canadian IIROC. But also Australian ASIC and Cypriot CySEC. It’s quite a long list and hard work, but it pays off. Especially once you realize that this is nothing but an investment scam. Fuelta scam broker never got any licenses from these regulators.
That means that traders don’t have the:
- Negative balance protection guaranteed
- Guaranteed stop-loss
- Compensation funds
- Segregated bank accounts for deposit
Trading Platform Overview
As we can see from Fuelta broker reviews, traders were disappointed with the platform. Instead of trusted third-party software, it was just a poorly designed web trader. With only basic functionalities it didn’t attract much traders.
Some of the missing features are:
- Copy trading
- Social trading
- Algorithmic options
For these, you should find another broker. On top of all, the Fuelta scam broker didn’t have a mobile app. Therefore, all traders using mobile devices should access the trading account via a browser. Which is very often painful and slow.
If you choose a broker with cTrader or Meta Trader, you can enjoy all the mentioned features. Unfortunately, even scam brokers can use such services. That’s why it’s still important to find yourself a trusted Tier 1 regulated company.
According to the company statement, there are multiple funding options. Those are:
- Debit/Credit cards
- Wire transfers
It’s quite a solid range of choices. Thus, reviews reveal that this broker only accepted cards. On the positive side, if you were their victim you can file a chargeback. Considering their missing regulation, the minimum deposit requirement is too high. Starts already at $250. On the other hand, many licensed brokers offer micro accounts with a $10 minimum deposit.
As for a withdrawal policy, that remains a mystery. Therefore, all the processing times and fees are questionable. Most likely non-existent.
Fuelta Account Types Available
To make it even worse, this broker doesn’t have any specific account type classification. Instead, they have a minimum of $250 and the following account type starts at $10K.
With spreads from 0.1 pips and leverage of 1:10, the offer might look attractive. It complies with many regulations. However, if the broker will meet those conditions is yet to be determined. But considering their reviews and inactive website, looks like they won’t.
On top of all, the company doesn’t offer a demo account. But not even a micro account.
Implementation of the Scam
Investment scams are quite transparent nowadays. Brokers lure traders online to make initial deposits. Since the Fuelta scam broker doesn’t have social media we assume it’s only through campaigns. But also cold calling.
Anyways, with their shady software, they can manipulate market data and make traders deposit bigger amounts of money. But when it comes to withdrawing, that’s where the problems start. Scam brokers like Fuelta are using various tactics.
From AML laws, liquidity verification and non-existent withdrawal fees. Everything is perfectly designed to prolong or deny withdrawal requests. Not to mention bonus policies that are often part of the arsenal.
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The Fuelta scam company didn’t last long. Without adequate offers for traders, they couldn’t last long. However, it’s not excluded that this broker will come up with a different brand but an updated one.
Just keep in mind all the tricks we revealed to you. Every scam pattern is the same. Once you know those, you are safe. Also, be aware of the funding methods that companies offer. Avoid cryptocurrencies, especially with brokers like this one. Those transfers are irreversible. Choose licensed brokers and invest small first.
FAQs About Fuelta Broker
Is Fuelta Regulated?
No. The company doesn’t have any regulations or funds protection measures for traders.
Is Fuelta a Trustworthy Broker?
No. This broker is completely anonymous and without any credibility in the trading world.
What Funding Methods Does Fuelta Accept?
According to the company they accept cards, wire transfers and e-payments like Skrill and Neteller.