TradeFCM Review: Don’t Risk Trading with This Broker

TradeFCM broker comes up with a fancy website, but what is hiding behind it that we are about to discover? This broker doesn’t reveal any ownership information, which is a huge red flag at the start.

They are allegedly coming from the UK. Available in all 5 major fields they provide trading services since 2016. However, since the UK left the European Union they should opt for the FCA license or TPR.

To see if this broker is honest and operates with the required authorization, read this latest TradeFCM broker review. Here we will cover all the things you need to know about this investment scam.

Additionally, we strongly advise you to avoid the scam brokers  InvestTeck and ProfitiX.

How Are You Protected at TradeFCM? License and Security

Any UK-based trading company can only gain trust by having an FCA license. However, TradeFCM didn’t think about it. Not only that they don’t have an FCA license, but also any other Tier 1 license like BaFin or ASIC. 

Which would make a huge difference. Yet, we continue with disappointment here. After all, everything leads to the fact that this is just another scam broker.

If they only had any other sort of protection like negative balance protection or compensation fund, it would be a better sign. However, all that is missing. That’s why traders should look for Tier 1 regulated brokers that have strict requirements for gaining a license.

They don’t provide any ownership information. With UK-based addresses, they lack as well of required regulations.  After all, they don’t provide a trusted platform or any competitive trading conditions.

Brokers such as TradeFCM,  InvestTeck and ProfitiX all lie about having a regulation but in reality, they are unregulated offshore entities.

Trading Platform Overview

TradeFCM trading company tried to mislead their traders to believe that they have a trusted platform. They offer the world’s most famous stage Trader 4 and 5. 

That should trigger your thinking about MetaTrader. However, once you want to check that page, it suddenly can’t be found.  Not only that it’s not MetaTrader, but it’s just a basic trading view option with basic trading tools.

MetaTrader is not in sight anywhere. With this in mind, expect to miss out on features like algorithmic trading, social trading, and more.

Since they only offer a web trader it provides easy access through mobile devices. On the negative side, they don’t have a designated mobile app for it. That is not attractive for most traders.

Because such web traders are often manipulated by the broker. Instead, you should look for a Tier 1 regulated broker with a trusted platform like cTrader or Meta Trader.

Account Types at TradeFCM

In general, account types bring some more benefits. Of course, there is the motivation for a trader to deposit more. And brokers do that in many different ways. However, with this broker, the only significant difference comes with spreads and bonuses. Important to realize is that bonuses are banned by ESMA and any other EU regulator.

Nonetheless those account types are:

• Mini – $1,000
• Standard – $2,000
• Gold – $5,000
• Professional – $10,000

Besides this mini account requirement of $1,000, traders don’t have any other option to check this broker. This is a shamelessly high minimum requirement and on top of that, they couldn’t even provide a Demo account. 

TradeFCM Deposits and Withdrawals Process

We have to take all payment info from the website. Please note that none of this information is accurate, no matter how limited it may seem. The broker is unlicensed and therefore is not trustworthy.

The payment methods that we could find mentions of were credit cards, debit cards, wire transfers, and E-wallets.

As for any hope of withdrawing information, we will have to disappoint. There is no withdrawal information at all. No fees, no processing times, no further conditions. We are not even sure that TradeFCM has included withdrawing as an option.

How is the Scam Performed?

Many people are looking for ways to make money passively, but do not have the necessary knowledge to invest in the financial markets themselves. 

This makes them an easy target for the many online scammers posing as brokers. If you come across some of those get-rich-fast ads and leave your personal information there, be sure, they will call and push you to invest.  

Once this dishonest scam broker gets your money, it will disappear without a trace.

Don’t feel ashamed if you ever got scammed by these persuasive agents, after all, they are professional smooth-talkers who scam people for a living. 

TradeFCM Summary

While conducting this broker review we found that TradeFCM is allegedly a UK-based broker that follows no regulations and therefore offers no safety for trader’s funds. Not only are they unlicenced, but they falsely claim to be so by the UK’s FCA.

The minimum deposit requirement is also allegedly set at $1000, which is just too high and never seen when working with a regulated firm.

Lastly, the broker does not even offer a demo account for potential traders. Yet another red flag for this illicit broker.

FAQs About  TradeFCM Broker