Are you a forex trader? Look to trade with Idealfxtrading broker? Before you do exactly that, carefully see complete Idealfxtrading review to know about this platform.
This content promises to share helpful review to support clients/traders in making the right decision.
Idealfxtrading also known as Idealfxtrading.com is an offshore brokerage company with a lot of promises for forex traders. Interestingly, this broker claims regulation and license from serious and strict financial authorities around the world namely, US LLC, FSC (Mauritius), UK’s FCA, CySEC and South Africa’s FSCA, among others.
Here is the contact informaton of the platform –
Further, the broker offers different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
See section below—-
Deposit and Withdrawal
Idealfxtrading Minimum Deposit:
Idealfxtrading minimum deposit is undoubtedly high $3500. In contrast, the good thing about a licensed FX broker is that Minimum deposit is made known to traders, and clients can start trading as low as $100 .
As for the payment methods, the broker presented options like bank transfer, Skrill, Neteller and PayPal. But, this is not the case, because we found the broker accepts between different cryptocurrencies.
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!
Idealfxtrading 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.
Idealfxtrading platform offers web based trading platform and not MT4 or MT5 (Industry standard trading platforms) which gives us more reason not to take this broker serious. Many scammers have trading software to fool their victims that their money is being invested.
As for Idealfxtrading leverage, there is no information on that. 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 Should Not Trade with Idealfxtrading.com Broker
First of, Idealfxtrading.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.
To start with, the broker presented its address in the US which means the forex broker must be registered with the Commodity Futures Trading Commission (CFTC) and to be a member of the National Futures Association (NFA). But, there is no Idealfxtrading among NFA’s members.
Again, the broker claims regulation with the UK’s Financial Conduct Authority (FCA). Reverse is the case with this claim because UK Financial authority has warned against the forex platform and its financial services.
More so, the platform 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 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.
Idealfxtrading 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
Idealfxtrading located at Idealfxtrading.com claims to be a genuine trading broker, howbeit, that cannot be verified. 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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