January 23, 2024

Testra Securities Reviews Is testrafx.com a GENUINE Broker?

Testra Securities Reviews

Think of trading on Testrafx.com platform? Is this broker a reliable broker to trust? You seem to be uncertain about the broker let’s read Testra Securities reviews to know about this forex broker whether to use or not.

This content promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.

About Testra Securities FX

Testra Securities FX otherwise known as Testrafx.com is an offshore brokerage operated by Testra Securities Pty Ltd with a lot of promises for forex traders. The forex company has no company address or corporate background.

Further, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.

Testra Securities FX Minimum Deposit?

Testra Securities deposit is not indicated on the website. In comparison, a licensed FX broker clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.

As for the funding methods, the broker leaves us with the deposit menu.

Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!

Withdrawal process:

Testra Securities withdrawal says nothing on specific information regarding withdrawal fee and processing days on withdrawal request. The broker provides no clear description on trade requirements  that must be met before a withdrawal.

Testra Securities Platform:

Testra Securities doesn’t specify what type of trading software it offers. There’s only a brief description, that doesn’t say anything in particular.

Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.

Testra Securities leverage is not provided for traders. Honestly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.

Won’t you rather trade with a licensed and legit broker? 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, ASIC in Australia, NBRB in Belarus, CySEC in Cyprus as well as IIROC in Canada which makes client funds safe. They accept traders worldwide…visit their official website

What We Discovered about Testrafx.com Broker

First of, Testra Securities doesn’t mention anything about its purported regulation or at least the financial authority that is supposed to be overseeing its activities. 

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 drawbacks for forex traders/ clients 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.

Testra Securities 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.

COMPARE WITH A TRUSTED BROKER

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

Concluding Thoughts:

Testra Securities FX located at Testrafx.com claims to appear like a trustworthy trading broker, however, we don’t know anything about this dubious firm that’s why it’s so dangerous.. By all appearances, we would advise traders to steer clear from this broker as it likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.

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