TouchTrades Review: Read This Honest Review Before You Invest

You may know that online trading demands caution. With TouchTrades, doubts about its authenticity are quite troubling. 

In this thorough TouchTrades review, we carefully examine this unregulated forex and CFD broker, leaving no stone unturned. Brace yourself as we explore everything that you need to know about this company. So, stick around to find out more! 

TouchTrades Company Details and Regulation

When it comes to your investments, security is non-negotiable. Regrettably, TouchTrades falls short in this department. 

Operating without regulation, it lacks the protections offered by respected financial authorities like FCA, CySEC, and ASIC. These regulatory bodies guarantee brokers maintain a minimum capital ratio and keep their funds segregated from active expenses. They truly offer a safety net in case of insolvency.

Warnings 

TouchTrades raised red flags with many regulators. In 2016, Italy’s CONSOB issued a warning about TouchTrades Ltd. 

The same year, KROUFR blacklisted the company, a move later confirmed by CySEC, ATVP, DFSA, and AFM.

Trading Assets: Limited Choices, Limited Opportunities

This company offers a selection of 30 currency pairs, commodities, spot metals, and indices CFDs. Now compare this to legitimate brokers that provide a diverse array of trading instruments, from stocks and ETFs to cryptocurrencies. 

Diversification is critical in trading, and TouchTrades significantly restricts your options, ruining your potential for profitable investments.

Note: Remember that it’s best to avoid Montana Trading LTD. They’re not the most reliable choice as they lack FX permission. There are plenty of other good options out there to keep your money safe.

Trading Platforms Available

While this broker offers MetaTrader 4 and a web-based platform, their reliability remains debatable. Keep that in mind. Going for established brokers, which boast a user-friendly interface and robust features, is a safer choice. 

The real MetaTrader 4 and 5 platforms, preferred by 80% of retail traders, offer advanced charting and numerous technical indicators. These two platforms truly let you trade with ease. 

TouchTrades Login: Right now, their website is experiencing issues, making it impossible for us to log in. It’s best to avoid it.

Trading Environment: Leverage, Spread, and More

This trading company attracts traders with high leverage. It offers a maximum leverage of 1:400, which is close to what most brokers offer and fits the needs of most strategies. But this can lead to substantial losses.

The EU and UK regulations have set a 1:30 leverage cap to save retail traders from excessive risks. 

Try to avoid brokers offering sky-high leverage ratios, as they often lack credibility and can be risky.

Account Types

This brokerage offers several account types, each with its minimum deposits and varying spreads. Let’s take a closer look! 

The Micro Account, with a minimum deposit of 200 USD, features fixed spreads starting from 2 pips and a minimum trade size of 0.01 lots or 1000 currency units. 

The Standard Account, requiring a 2500 USD deposit, offers fixed spreads starting from 1 pip and floating spreads starting from 0.5 pips. 

Lastly, the VIP Account, demanding a 10,000 USD deposit, features fixed spreads starting from 0.7 pips and floating spreads starting from 0.5 pips. 

The minimum trade size for the Standard and VIP accounts is 0.1 pips or 10,000 currency units. Although the absence of trade commissions might seem nice, the unverifiable live spreads raise concerns about transparency.

Customer Support and Red Flags

This company supports multiple languages, yet the lack of a real address severely undermines its credibility. Besides, their website is down at the moment of writing this review. 

Poor customer support further worsens the issue, leaving traders stranded when they need assistance the most. Transparent and accessible customer support is a hallmark of trustworthy brokers, a quality TouchTrades lacks.

Tip: Heads up, GFTMA isn’t a trustworthy broker, so it’s safer to look elsewhere. Many other reliable choices can protect your investments better. If you require free consultation about this, we’re here for you. 

Withdrawal Policy: A Broken System

Details about the TouchTrades broker withdrawal policy are scarce, and their website frequently malfunctions. 

Keep in mind that reliable brokers offer various withdrawal options. These include Skrill, PayPal, credit cards, and wire transfers, ensuring smooth transactions. 

The limited options provided by this firm raise suspicions about their legitimacy. So, you can not be sure of the safety of your investments.

Trader Reviews – A Sea of Dissatisfaction

If we take a look at Trustpilot reviews, they reveal a sad rating of 2.8 stars. 

Such poor feedback is a glaring warning sign for potential investors. 

Remember that choosing brokers with stellar ratings above 4.5 stars is essential. Why? Well, it reflects their dedication to customer satisfaction and reliability.

Note: Stay away from Fox Markets as they are unregulated. They might not have your best interests at heart. 

Offshore Broker and Other Scam Tactics

Scam brokers like touchtrades.com often resort to shady tactics. These include pricey fees, fake websites, and misleading signals. Traders should stay away from such brokers and opt for regulated ones. This is the unwritten rule. Legitimate brokers care about the law. They will always deliver clear terms, providing a secure trading environment. 

Examples of common scams include fake trading on behalf of clients, misleading ads, and unverified trading results. 

These deceptive practices show how important it is to do your research when choosing a broker.

Can I Make Money From Online Trading?

Online trading indeed offers lucrative opportunities, but success demands knowledge and the right tools. This is crucial to remember. 

That is why we offer free consultations to guide you in making informed decisions. Besides, our AI Analysis Bot simplifies research, presenting valuable insights and predictions. Sign up for our upcoming launch and enjoy a 20-day free trial, empowering your trading overall. 

Final Words

So, TouchTrades presents a high-risk, low-reward scenario for us. Its lack of regulation, limited assets, warnings, and poor customer support raise serious concerns. Keep that in mind. 

Protect your money by choosing reputable brokers with proven track records. Also, contact us for a free consultation and personalized guidance in selecting the best trading company. Your safety is our priority. Choose wisely, trade smartly, and invest with confidence.

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