category: Unregulated Brokers

Is Uniglobe Markets Scam or Legit Broker?

It is not safe to trade with Uniglobe Markets, as it is an offshore company. The website is owned and operated by Uniglobe Markets Limited. Uniglobe Markets is authorized to provide the financial Services as offered through this Website under Regularity Laws of the Marshall Islands, registration #78101. 

• The Marshall Islands is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as CobraCFD, Swissinv24, and more.

What is Uniglobe Markets?

Uniglobe Markets claims to offer their clients direct access to interbank liquidity, tight spreads (Also see No Spread Brokers), fast and quality execution and exceptional customer service. Uniglobe Markets was founded by a group of traders and financial professionals having significant experience in the Forex, CFD and Equity markets in Asia, Europe and North America. This has enabled them to select the best solutions to accomplish the main goal - to make available transparent Forex trading to clients from all walks of life, easy accessibility and security. Of course, it all looks good on paper, but is it actually so?

• In fact, Marshall Islands is an offshore zone attracting various firms that for the reason or another escape from the serious regulation or compliance to international service providing. However, in the case of financial investment or trading firms, the company should be a very respected entity, as the statistics show that the majority of non-authorized firms never recovered the sums of investors' investments. Therefore, we always advise avoiding offshore or companies with no license as there are too many frauds around.

• As most of the unregulated offshore companies, Uniglobe Markets provides its London address and contact phone number, however, we already know for a fact that this broker is not regulated and isn’t allowed to offer its financial services in the UK or any other country.

Overall Uniglobe Markets Ranking 

Based on the revelations about Uniglobe Markets safety and regulations issues, we do not rank positively Uniglobe Markets, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

• Uniglobe Markets Overall Ranking is 4 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.

Uniglobe Markets Alternative Brokers

Taking into consideration our finds and issues with the safety of Uniglobe Markets here are much better Alternatives to Uniglobe Markets with good regulations and excellent conditions. We select Good Brokers and reliable options for your comparison below: 

• AvaTrade – Good for Currency trading
• InteractiveBrokers – Good for US Trading and Trading of Real Stocks
• XM – Good for Beginners

Uniglobe Markets in India

Uniglobe Markets has no mention of complying with any Indian regulators on its website. It is also worth mentioning that Forex trading is actually prohibited in India. The broker is not regulated by any regulatory body in India, that’s why money safety may be the issue here.

Uniglobe Markets in the USA

The United States is one of the countries that is not accepted by Uniglobe Markets. As per the U.S law, brokers regulated by CFTC are the only brokers allowed for the USA traders. So, except for Uniglobe Markets, you are only permitted to trade with the U.S regulated platforms.

Deposits & Withdrawals

Micro trading account with Uniglobe Markets and start with the smallest investment of minimum USD100. ECN trading account with a lower initial deposit of $1000

• UniglobeMarkets does not apply any deposit or withdrawal fee,charges may occur depending on your payment provider. 

Apps

Popular platforms MetaTrader4 and MetaTrarder5 are available for the traders use on the Uniglobe Markets. For the mobile version they need to download MetaTrader4 or MetaTrader5 on their iOS or Android devices and start trading currencies with CFDs. MetaTrader 5 for Android allows you to trade and check your account from anywhere. Access to the main features of the platform using your smartphone.

The new MetaTrader 5 for iOS devices offers online mobile trading on the Forex and CFD’s. Now trade online Forex and CFDs directly from your iPhone and iPad supported for all iOS versions.

MT4 is now available for your iOS/iPhone/iPad. Login Enjoy the opportunity to trade from anywhere in the world via Metatrader 4 for your iOS device(s).

Demo Account

Demo account is available on the Uniglobe Markets website. It allows beginner traders (Find out the Best Forex Broker for Beginners) to start practicing with zero initial payment and become a perfect trader, play with real-time conditions, test all functions that a real account gives access to, in real-time. Also, they can learn to analyze the most effective tool and trading chart by experts to make trading more profitable. Demo account gives you a chance to polish your trading skills and use different strategies in real conditions.

Uniglobe Markets Review Conclusion

We advise choosing a broker carefully and check on the broker’s regulation status first. The reputable firms that hold FCA, FINMA or other licenses are established in accordance with international standards, protecting clients at every step and even compensating the trader in case things go wrong with the company. Sig in with reliable brokers such as ForexTime and XM, and  InstaForex. 

• Overall ranking and experience for Uniglobe Markets is Negative

Is CobraCFD Scam or Legit Broker?

No, it is not safe to trade with CobraCFD, as it is an offshore company. Cobracfd is owned and operated by Cobracfd Ltd and Kings Power Ltd. registered in Trust Company Complex, the Marshall Islands.

• The Marshall Islands is notorious for its practically absent requirements and regulations. Due to the setup cost being low, it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as MegaTradeFX, Swissinv24, and more.

What is CobraCFD?

CobraCFD claims to deliver options for trading in some of the most popular liquid assets, including currency pairs, stocks, most major financial indices, and commodities. CobraCFD operates around the globe and places great emphasis on providing professional and reliable services to all its customers. They offer several trading platforms that have been designed to meet the needs of investors from beginners to advanced. However, we have some concerns about the reliability of this broker (Best Forex Brokers for Beginners). 

• According to the website, Cobracfd operates in accordance with international financial and money laundering laws. However, they do not provide any specific information about the regulation and it doesn’t seem CobraCFD is regulated by any authority. The broker provides British contact number without having an actual office there or being regulated in the United Kingdom.
• Moreover, CobraCFD has been blacklisted by the Italian regulator CONSOB:

“CONSOB  availed itself of the powers deriving from the "growth decree" regarding the blackout of the sites (including CobraCFD Ltd (website www.cobra-cfd.biz) of abusive financial intermediaries, as well as the new power introduced by Law no. 8 of 28 February 2020, regarding the blackout of the site through which the abusive bid is made.”

CobraCFD Review Conclusion

We strongly advise all investors and traders to avoid CobraCFD and other brokers from the Marshall Islands. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as City Index and eToro.

CobraCFD Update

Recently the CobraCFD website remains inactive, meaning the broker mutes its trading offering and does not propose account openings. However, we still advise the traders to be alert and careful, in case they receive trading proposals. 

Is Elite Trading Scam or Legit Broker?

No, it is not safe to trade with Elite Trading as it is not regulated. Elite Trading is owned and operated by Netbit services and solutions limited, Reg. Number 14718830, Address: Harju County, Tallinn, Estonia. 

• The broker doesn’t provide any information about its regulation or license and it actually seems it doesn’t have any. As it claims to be registered in Estonia, it was supposed to be regulated by the local regulator Estonian Financial Supervision Authority. We didn’t find the mentioned above registration number in the FSA’s register, which means Elite Trading is not regulated to provide its financial services in Estonia as well as other EU countries.

• The company mentions Austrian and British contact phone numbers without having offices there or more importantly, without being regulated in those countries. Also, the broker has been blacklisted by the Belgian regulator Financial Services and Markets Authority

What is Elite Trading?

Elite Trading claims to be a world-renowned financial services provider offering a range of investment products, including Online Trading and FX. Its high-tech trading platform offers clients across the globe an opportunity to invest in over 1,000 world-class assets including forex, stocks, commodities, and indices. Elite Trading allows trading forex, stocks, commodities, and indices with zero commissions and fees on its unique next-generation trading platform (desktop, mobile, or tablet).

Elite Trading Review Conclusion

We advise all investors and traders to avoid Elite Trading  and other offshore brokers. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FXTM and XM.

Elite Trading Update

Based on our findings, the Elite Trading website is no longer active. This means the broker has muted its trading offerings and does not operate, however, we recommend avoiding and staying alert in case of any proposals. 

Is Arum Trade Scam or Legit Broker?

No, it is not safe to trade with Arum Trade as it is an offshore entity. ARUM Trade LTD is a Vanuatu Investment Firm incorporated and registered under the laws of the Republic of Vanuatu. T

• The Vanuatu jurisdiction gained its popularity among the investors and business owners in the Forex industry looking to become a regulated broker, yet obtain its status through a simplified process and operate almost without supervision. The VFSC regulator does not require strict proof of the company background and does not check on the implementation of the secure fund management or operation guidelines. Also, it does not require regular reporting and never imposes fines in case of fraud operation. You can read more about Forex Trading: Why Avoid Brokers from Vanuatu in our article.

What is Arum Trade?

Arum Trade is an international investment company, providing access to a wide range of trading instruments: currency pairs, stock market indices, precious metals, share and cryptocurrency CFDs. The Company gains liquidity from the biggest liquidity providers, ensuring extra-high speed of transaction execution. The broker offers the MetaTrader5 platform (Find MetaTrader 5 brokers by the link).

• It is clear that Arum Trade has been targeting Mexico and Russian residents mostly since the two main languages supported by the website are Russian and Spanish. In addition, the broker provides three contact numbers in Russia, Mexico, and Cyprus. However, there is no information about broker’s offices or regulations in any of these countries. We can surely say Arum Trade is an unregulated broker that cannot be trusted. 

Overall Arum Trade Ranking 

Based on the revelations of our research there are multiple issues with Arum Trade regulation and reliability, thus we do not rank positively Arum Trade, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

• Arum Trade Overall Ranking is 2 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.

Arum Trade Alternative Brokers

Taking into consideration the Arum Trade safety issues we found during our research, we suggest much better Alternatives to Arum Trade with good regulations and excellent conditions. We select Good Brokers and trustworthy options for your comparison below: 

• BlackBull Markets – Best for Copy Traders
• XM – Broeker with Low Minimum Deposit
• Interactive Brokers – Good for Stock Trading

Deposits & Withdrawals

Arum Trade offers a large variety of deposit methods: Electronic Payment Methods (Skrill, Neteller, AstroPay), Bank Wire Transfers (National Bank of Vanuatu and Local bank in Dubai), and Credit/ Debit cards (Visa, MasterCard, American Express). 

• Credit cards transfers will be credited only if a copy of the credit card is available as the Company may request it 
• Clients need to inform the company if the corresponding bank and/or other paying details have been changed, at least 3 working days before the withdrawal 

Arum Trade Review Conclusion

We advise all investors and traders to avoid Arum Trade and other offshore brokers from Vanuatu. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FXTM and FP Markets.

• Overall ranking and experience for Arum Trade is Negative

Arum Trade Update

We discovered that the Arum Trade website is unavailable. It is unclear whether the broker changed its name, or is gone altogether. Since money safety goes first, we recommend avoiding any proposals from Arum Trade and staying alert in case of any proposals. 

Is FXprime Scam or Legit broker?

It is not safe to trade with FXprime as it is an offshore broker. FXprime is owned and operated by Royal Gates LTD, registered in St. Vincent and the Grenadines.

However, the fact is that St. Vincent and the Grenadines is an offshore zone, which does register the financial investment firm, but provides very poor if none requirements for the company's operation. That means, the broker is not regulated, not overseen, and does not comply with strict international rules that provide protective measures to the traders.  Therefore, it became an offshore zone for shady forex brokers such as CVC Markets, AAG Markets, and more. Read more about St. Vincent and the Grenadines regulation by the link.

What is FXprime?

FXprime claims to be an industry leader in the Forex and CFD markets. It promises to deliver a powerful, user-friendly, and fair trading platform. Trading at FXprime allows its clients to benefit from tight spreads and low commissions (Low Spread Brokers). FXprime offers a slew of tools for traders to take advantage of, including stop-loss, take profit, entry limit, and entry-stop orders. It provides a web-based platform and a leverage of up to 1:200. On this platform, clients can trade the most popular assets - currencies, commodities, and indices. Fxprime clients benefit from intensive training, dedicated service, and 24/5 professional customer support and assistance.

• The broker doesn’t provide any information about its regulation as well as its location. It provides the contact phone numbers with UK country codes, however, FXprime is not regulated in the UK or any other country.
• In addition, the broker has gotten on the warning list of the Belgian regulator FSMA: 

“During the last weeks, the FSMA continued to receive complaints from consumers concerning new fraudulent online trading platforms that are operating in the Belgian market. The FSMA therefore strongly advises against responding to any offers of financial services made by the following trading platform: FX prime (www.fxprime.io)”

FXprime in India

FXprime allows Indian traders to open accounts and trade. However, FXprime has no mention of complying with any Indian regulators on its website. It is also worth mentioning that Forex trading is actually prohibited in India. The broker is not regulated by any regulatory body in India, that’s why money safety may be the issue here.

FXprime in the USA

FXprime is not legal in the USA and is not available for American traders. As per U.S. law, brokers regulated by CFTC are the only brokers allowed for USA traders. So, except for FXprime, you are only permitted to trade with the U.S-regulated platforms. 

Deposits & Withdrawals

The minimum deposit is 250 USD for a Basic account. Fxprime supports the standard Visa and MasterCard, however, popular e-wallets Skrill and Neteller are not available.

Withdrawal conditions are not clear as well as possible deposit/ withdrawal fees. 

Apps

The platform is not available for mobile trading via mobile devices. 

Demo Account

FXprime does not provide a demo account for its traders. 

FXprime Review Conclusion

Overall, there are many questions in regard to the trust of the FXprime company services, its trading conditions, and its operations in general. We strongly advise opening a trading account only with brokers that are regulated by respected world authorities that comply with the required set of rules and have a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as AvaTrade and XM.com.

FXprime Update

Based on our findings, the FXprime website is no longer active. This means the broker has muted its trading offerings and does not operate, however, we recommend avoiding and staying alert in case of any proposals. 

Is AnyTrades Scam or Legit broker?

AnyTrades is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, was never monitored in terms of its safety, and simply may operate the business in any way it wishes. AnyTrades is authorized, licensed, and regulated by the VFSC (Registration N: 14691), which means AnyTrades is an offshore company registered in Vanuatu and registered with a Vanuatu Financial Services Commission license.

• Vanuatu is the easiest jurisdiction to open a brokerage, as the opening requires the company to submit a register online, prove initial established capital which is $2,000 only, pay a fee, and within 2-3 months, the firm is crisp and registered. Therefore, it became an offshore zone for shady forex brokers such as FX NextGen, Titan FX, and more. 

What is AnyTrades?

AnyTrades was established in 2016 and claims to be one of the best CFD providers in the world with an innovative award-winning trading platform. This Forex brokerage company provides a wide range of trading options, platforms, and strategies for investors in today’s exciting and rapidly expanding Foreign Exchange Market. AnyTrades offers Contracts for Difference (CFDs) on 5 different asset classes: Forex, Shares, Indices, Futures, and Commodities. The broker also claims to provide a variety of trading tools to the trader's advantage, offer the latest trading platforms to ensure your strategy implementation, and provide 24/5 multilingual support tailored to your needs. Despite all these claims, the main question is always the broker’s authorization.

• Also, the broker claims to have offices in Denmark, Liechtenstein, Gibraltar, and Malta. However, the firm is not regulated in these countries and is not allowed to offer financial services. All the reputable brokers in Europe have licenses from such popular authorities as the German Federal Financial Supervisory Authority, Swiss Financial Market Supervisory Authority, or Cyprus Securities and Exchange Commission.

• Last, but not least, the awards mentioned on the website are fake as there are no such nominations and this broker was never nominated for any Forex award.

Deposits and Withdrawals

The required minimum deposit is exceedingly high at $500. Deposit or withdraw can be made via the standard Visa and MasterCard, Wire Transfer, or e-wallet Skrill. 

• As to the withdrawals, the broker does not mention any withdrawal fees, but since it is unregulated we can’t be sure the information provided on the website is true. They also state each account gets a bonus promotion and a trader has to achieve a certain trading volume in order to be eligible for withdrawal. This really looks like another scam. Licensed brokers do not usually offer such promotions or if they do, they are very transparent about it on their website/ trading conditions. 

Apps

AnyTrades mobile app is available to its traders. Mobile trading allows traders to manage their accounts from portable devices like smartphones, pockets, and tablet PCs. In MetaTrader 4, mobile trading offers a great variety of analytical options and a graphical display of quotes in addition to complete trade account management. Using mobile terminals in daily activities offers a convenient way to keep up with accounts when traders don’t have access to a desktop computer. AnyTrades mobile app is compatible with all Android and iOS devices. 

Demo Account

AnyTrades demo accounts. It allows you to experience some risk-free trading to get you prepared for the real thing. No matter your trading level, Spectre.ai demo accounts are the perfect place to practice your skills and become a better trader without spending any of your own money.

AnyTrades Review Conclusion

We strongly advise opening a trading account only with brokers that are regulated by respected world authorities that comply with the required set of rules and have a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as Alpari and FXTM.

AnyTrades Update

Based on our findings, the AnyTrades website is no longer active. This means the broker has muted its trading offerings and does not operate, however, we recommend avoiding and staying alert in case of any proposals. 

Is FX NextGen Scam or Legit Broker?

It is not safe to trade with FX NextGen as it is an offshore broker. According to the broker's website, FX NextGen Ltd is registered in the Republic of Georgia with Company ID 404574769 and carries a business license from Hualing Free Industrial Zone with License Number 0110/290. However, as the main Forex license issuer in Georgia is the National Bank of Georgia, we haven’t found any information about this broker on the regulator’s website. Also, a license from the Hualing Free Industrial Zone doesn’t mean anything since it is not the regulatory authority in the country.

What is FX NextGen?

FX NextGen is a Forex and CFDs broker. Its business model is geared towards offering the most competitive spreads (Find out brokers with the lowest spreads here) and market conditions for traders. The company claims to be licensed in Georgia and founded by industry veterans who bring a combined experience of more than 50 years. FX NextGen offers 77 currency pairs, 12 precious metals, 10 indices, 4 energy instruments, 39 cryptocurrencies, 37 US shares, and 30 EU shares. According to the website, their trading servers are located in London and offer traders fast access for execution with minimal slippage. This broker specializes as a multi-asset FX fund and our STP model of execution means that traders get the very best conditions that the market has to offer (Check STP Trading Account).

• Besides Georgian regulation and location, FX NextGen is incorporated in Vanuatu, but there is no information on its regulation there. We would like to remind the traders that Vanuatu is one of the popular offshore destinations for Forex brokers. All the investments with such brokers may be put at risk since there is literally zero protection provided by the Vanuatu authorities. We have a detailed article explaining the risk of trading with brokers from Vanuatu. 
• On top of all that, there is one more license FX NextGen holds, the Belize license. It is also an offshore zone same as Vanuatu. You can read more about Forex Trading: Why Avoid IFSC Brokers from Belize in our article. 

Moreover, Austria’s FMA has recently issued a warning against FX NextGen stating that:

“FX NextGen Ltd is not entitled to carry out banking transactions in Austria that require a license. The provider is therefore not permitted to trade on a commercial basis.”

Overall FX NextGen Ranking 

Based on the findings of our research there are multiple issues in respect of FX NextGen regulation and reliability, we do not rank positively FX NextGen, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

• FX NextGen Overall Ranking is 2 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.

FX NextGen Alternative Brokers

Considering the FX NextGen safety issues we found during our research, we suggest much better Alternatives to FX NextGen with good regulations and excellent conditions. We select Good Brokers and trustworthy options for your comparison below: 

• Trade.com – Wide Range of Trading Instruments
• Capital Index – Good Trading Conditions
• ThinkMarkets – Competitive Spreads

FX NextGen in India

FX NextGen allows Indian traders to open accounts and trade. However, FX NextGen has no mention of complying with any Indian regulators on its website. It is also worth mentioning that Forex trading is actually prohibited in India. The broker is not regulated by any regulatory body in India, that’s why money safety may be the issue here.

FX NextGen in the USA

FX NextGen is not legal in the USA and is not available for American traders. As per U.S. law, brokers regulated by CFTC are the only brokers allowed for USA traders. So, except for FX NextGen, you are only permitted to trade with U.S-regulated platforms. 

Fx NextGen does not offer its services to residents of certain jurisdictions such as Austria, Iran, Cuba, Sudan, Syria, Japan, and North Korea.

Deposits and Withdrawals

The minimum deposit requirement is 100$ (Also read about Fortrade broker minimum deposit here). Deposits can be made via online payment or bank transfer. In order to make a deposit, log into the broker’s Client portal and select the ‘Deposit’ area. Within the processes, you can choose your deposit source e.g. bank transfers, or bitcoins. Also, traders should note that bitcoin payments are immediate while bank transfers can take up to 2-5 working days to be processed depending on the method used.

Withdrawals are usually processed within 1 working day. 

Apps

Fx NextGen offers its traders MT4 and MT5 platforms (Find out the Best MT5 Platform). The mobile trading platform interface allows you to stay in control of your trading no matter where you are. All you need is connectivity from your mobile phone and get access to real-time market news and monitor and manage your positions.

Demo Account 

Fx NextGen gives an opportunity to open a demo account. Demo trading is a simulation of real trading on Forex, which is made for practicing and training. The demo account does not require investments, it is free. It allows you to gain experience in online trading, and practical skills in working with MetaTrader and test your strategy without any risks.

Fx NextGen Review Conclusion

We strongly advise opening a trading account only with brokers that are regulated by respected world authorities that comply with the required set of rules and have a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as AvaTrade and XM.com.

• Overall ranking and experience for Fx NextGen is Negative

Fx NextGen Update

We discovered that the Fx NextGen website is unavailable. It is unclear whether the broker changed its name, or is gone altogether. Since money safety goes first, we recommend avoiding any proposals from Fx NextGen and staying alert in case of any proposals. 

Is Titan FX Scam or Legit Broker?

It is not safe to trade with Titan FX, as it is an offshore broker (Forex Broker). Titan FX is owned by Titan FX Limited which is an offshore company registered in Vanuatu and claims to be registered with a Vanuatu Financial Services Commission (VFSC) license.

• Vanuatu is the easiest jurisdiction to open a brokerage, as the opening requires the company to submit a register online, prove initial established capital which is $2,000 only, pay a fee, and within 2-3 months, the firm is crisp and registered. Therefore, it became an offshore zone for shady forex brokers such as RCM FX, EssenceFX, and more. 
• As to the broker’s VFSC license, from our source, it costs €24,000 per year to become a member. However, there is no handbook or guidelines for brokers to run their businesses. Therefore, there is zero protection for traders. We have a detailed article explaining the risk of trading with brokers from Vanuatu. 

What is Titan FX?

Titan FX is a foreign exchange broker serving both institutional and retail clients across the globe. Titan FX offers a CFD trading environment to our customers. CFDs include FX currency pairs, stock indices, metals, and energy. Titan FX customers can trade those CFD products using MetaTrader 4 and MetaTrader 5 (for PC, Apps, or Web Trader). Titan FX was created in 2014 to provide a stable no dealing desk forex broker to service a global client base.

• Its veteran management and support team comprises highly experienced forex and fin-tech professionals with combined decades of experience providing the best possible trading conditions and client support to both retail and institutional clients. The broker offers high leverage on all currency pairs (Check out our list of High Leverage Forex Brokers), zero pip spreads, and zero latency (See 0 Pip Spread Forex Brokers). This all sounds quite good, but let’s have a closer look at Titan FX. 
• Titan FX has previously been registered and regulated in New Zealand, but the license was suspended. According to the website, the company has offices in New Zealand and the United States, however, this same website states "United States, New Zealand or Vanuatu residents are welcome to browse our website but please note due to regulatory limitations we are unable to accept any United States, New Zealand or Vanuatu resident as a client." This means Titan FX is not regulated in the mentioned countries and is not allowed to offer its financial services in other countries due to the lack of regulation. 
• In addition, the broker has been blacklisted by Japan's Financial Services Agency (FSA). The website has targeted potential clients across the globe, including Japan, so the FSA was right to pay attention to the broker: "being a licensed investment entity overseas does not automatically translate into authorization for the Japanese market."

Overall Titan FX Ranking 

Taking into consideration the issues with regulations and safety of Titan FX, we do not rank positively Titan FX, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

• Titan FX Overall Ranking is 3 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.

Titan FX Alternative Brokers

Based on our revelations in respect of Titan FX unregulated nature, here are much better Alternatives to Titan FX with good regulations and favorable conditions. We select Good Brokers and reliable options for your comparison below: 

• OANDA – Good for Currency trading
• InteractiveBrokers – Good for US Trading and Trading of Real Stocks
• Trading 212 – Good for Beginners

Titan FX in India

Titan FX allows Indian traders to open accounts and trade. However, Titan FX has no mention of complying with any Indian regulators on its website. The broker is not regulated by any regulatory body in India, that’s why money safety may be the issue here.

Titan FX in the USA

The United States is one of the countries that is not accepted by Titan FX. As per U.S law, brokers regulated by CFTC are the only brokers allowed for USA traders. So, except for Titan FX, you are only permitted to trade with U.S-regulated platforms. 

• Other restricted countries: Aland Islands, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, United Kingdom, Germany, Greece, Hungary, Ireland, Italy, Japan, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, China, Hong Kong, Israel, Macao, Singapore, United Arab Emirates, Turkey, Canada.

Deposits and Withdrawals

The minimum deposit to open an account in Titan FX is $200 for all available accounts. Titan FX does not charge any account maintenance fees on inactive accounts. You can fund your trading account using our Secure Client Cabinet and through a wide variety of payment options: Visa, Mastercard, AMEX, Neteller, Skrill, STICPAY, Local Japanese Bank Transfer, and bitwallet.

• Withdrawals are normally automatically processed within 1 business day, however, receipt of funds into your account can depend on the withdrawal method used as it may rely on the payment being processed by your payment provider. Titan FX enables clients to withdraw funds from their forex trading account via the following: Visa, Mastercard, Neteller, Skrill, STICPAY, Local Japanese Bank Transfer, bitwallet.

Apps

Titan FX offers its clients the world’s leading trading platforms, including MetaTrader 4 (MT4) and MetaTrader 5 (MT5), as well as a Mobile trading applications. With the Titan FX Metatrader application, available for iPhone, iPad and Android, you can control your account, trade in financial markets and use 30 technical indicators for market analysis, as well as get financial news and emails. It also includes real-time quotes of financial instruments, the full set of trade orders, including pending orders, full trading history with search.

Demo Account

All Titan FX clients have access to their customised version of the industry standard trading platform, MetaTrader 4 and MetaTrader 5 (MT5 Forex Brokers).

The broker gives an opportunity to trial the platform for free with a demo account, valid for 30 days and with USD$50,000 of virtual funds included. Other equity amounts and account currencies are available by request. Its demo account uses a live price feed from Titan FX servers and is as close to the real trading experience as you can get. Whether you want to expand your trading knowledge or prove your trading strategy, MetaTrader platforms from Titan FX are the perfect tool.

Titan FX Review Conclusion

Overall, there is not a sustainable trust to the delivered Titan FX trading environment since there are many complaints from the broker’s clients along with the official statement from the regulator.

We strongly advise opening a trading account only with the brokers that are regulated by the respected world authorities that comply with the required set of rules and a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as AvaTrade and XM.

• Overall ranking and experience for Titan FX is Negative

Is FTE FX  Scam or Legit Broker?

No, it is not safe to trade with FTE FX as it is an offshore broker. Ftefx is operated by Ace Capital Ltd, with registration number: 25324 BC 2019, St. Vincent and the Grenadines. 

• St. Vincent and the Grenadines is notorious for its practically absent requirements and regulations. Due to the setup cost being low, it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as Binomo, JustForex, and more. You can read our detailed article about the risk of trading with brokers from St. Vincent and the Grenadines.

What is FTE FX?

FTE FX offers traders the following 8 groups of financial instruments: Currency Pairs, Precious Metals CFD, Stock CFD, Commodity Futures CFD, Gold Instruments and CFDs on Crypto Futures. The broker also offers risk-free limitless Demo Accounts.

• According to the website, Ftefx is authorized and regulated in various jurisdictions. However, we couldn't find any legal information about its authorization, which means the broker is unregulated and should be avoided.
• In addition, FTE FX has been blacklisted by Italian regulator CONSOB:

"Consob has ordered the black-out of 7 new websites that offer financial services illegally. The commission used the tools provided in the "growth decree", which gave Consob the power to order internet service providers to block access from Italy to websites offering financial services without due authorisation."

FTE FX Review Conclusion

We advise all investors and traders to avoid FTE FX and other brokers from St. Vincent and the Grenadines. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FXTM and XM.com.

FTE FX Update

Recently the FTE FX website remains inactive, meaning the broker mutes its trading offering and does not propose account openings. However, we still advise the traders to be alert and careful, in case they receive trading proposals.