Do you want to trade with Exclusive Trade FX? Why exclusivetradefx.com is not a genuine broker! Read detailed Exclusive Trade FX review to know about this platform.
This article promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
What is Exclusive Trade FX?
Exclusive Trade FX otherwise known as exclusivetradefx.com is an offshore brokerage company owned and operated by Exclusive trade FX Group Ltd with a lot of promises for forex traders. The company openly presented a registered address in New York, United States.
At the foot-note of the website, the broker claims regulation by different financial authorities — CySEC, BaFin, FCA and ACPR.
Further, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
Deposit and Withdrawal
Exclusive Trade Minimum Deposit:
Exclusive Trade deposit is shown $500 according to the account fear-tures. In contrast, 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 claims to accept variety of payment options such as VISA, Mastercard, Skrill, Sofort, GiroPay, iDeal, POLi, ePay.bg, Przelewy24, EPS Austria etc.
Just so you are aware, 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!
Exclusive Trade withdrawal FX leaves us with no specific information on withdrawal fee nor processing days on withdrawal request. The broker provides no clear description on trade requirements that must be met before a withdrawal.
Exclusive Trade Platform:
Exclusive Trade platform FX claims to web based trader and Metatrader 4/5 (Industry standard trading platforms). What you must know is that, the claim to offer MT4/5 don’t make the broker genuine in the service because any scam broker can do the same to appear real and lure forex traders/ clients.
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.
As for Exclusive Trade leverage, it can get up to 1:400. This is not a level that you see with regulated brokers. Trading with high leverage allows higher profits, however, it equally increases the risk of sudden and excessive losses. All leading regulators limit leverage for retail traders. In the EU, UK and Australia the maximum permitted level is 1:30 and in the US it is 1:50.
Truly, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Why You Should Avoid Exclusivetrade.com Forex Broker
First and foremost, Exclusivetrade.com has no financial authority overseeing its financial services. As far as we’re concerned, this is the one of the most ambiguous yet common remarks made by scammer entities, helping them become as vague as possible but yet retaining the illusion of being legit.
On a quick check, the broker claimed multiple regulations, but all of these ended up untrue. Take a look yourself–
Apart from that, we do not have to explain that nothing of what Exclusive Trade FX claims about their purported forex license certificates is true. Not to mention that Exclusive Trade FX could not possibly be headquartered in New York either, because if that was really the case, the broker should have also been licensed and authorized by the U.S.
Further, 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.
Exclusive Trade 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 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
Exclusive Trade FX located at Exclusivetrade.com claims to appear like a trustworthy trading broker, however, that cannot be ascertained. From indications, 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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