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Carrod Securities Company was incorporated on March 22, 2021. Despite its recent establishment, it has quickly gained notoriety in the forex trading community, primarily due to its lack of regulation and numerous complaints from users.
Carrod Securities operates as an independent entity, with Mr. Wei Wu listed as the sole director. The ownership structure remains relatively straightforward, with no publicly available information on any parent companies or subsidiaries.
The company is registered at Unit G1, Capital House, 61 Amhurst Road, London, United Kingdom, E8 1LL. This location suggests a UK-based operation, but the lack of regulatory compliance raises concerns about its legitimacy.
Carrod Securities claims to offer trading services globally, focusing on forex and CFD products. However, its unregulated status severely limits its operational credibility, making it a risky choice for international clients.
Carrod Securities is purportedly registered with the National Futures Association (NFA) in the United States, under license number 0541770. However, this license is categorized as unauthorized, indicating that the company does not operate under valid regulatory oversight.
Despite its claims of offering a comprehensive trading platform, Carrod Securities has not demonstrated significant growth or expansion. The absence of a functioning website and regulatory backing limits its ability to attract and retain clients.
Carrod Securities has reportedly attracted a customer base primarily through aggressive marketing tactics. However, the lack of transparency and numerous complaints have likely hindered sustainable growth.
The company offers the MetaTrader 5 (MT5) platform for trading, which is a popular choice among forex traders. However, the platform's effectiveness is undermined by the company's unregulated status and the allegations of withdrawal issues.
There are no notable awards or recognitions attributed to Carrod Securities, reflecting its questionable standing in the forex brokerage industry.
Carrod Securities claims to offer a variety of forex trading options, including a range of currency pairs. However, specific numbers are not disclosed, and the quality of execution remains uncertain due to the lack of regulation.
The company does not appear to offer direct stock trading options. Its primary focus remains on forex and CFD products, limiting its appeal to a broader investment audience.
Carrod Securities provides access to CFD trading, allowing clients to speculate on price movements of various assets without owning the underlying asset. However, the range of available CFDs is not explicitly detailed.
In addition to forex and CFDs, Carrod Securities claims to offer trading in commodities such as oil and metals. Reports suggest that the company may also provide access to cryptocurrency trading, although details are sparse.
Carrod Securities markets itself as a broker with competitive spreads and a user-friendly trading platform. However, the lack of transparency regarding fees and withdrawal processes raises concerns about the actual benefits offered.
Carrod Securities is not regulated by any recognized financial authority, raising significant concerns about its legitimacy. The NFA license it claims is unauthorized, indicating non-compliance with industry standards.
The company operates as a private limited entity in the UK. However, its dormant status and lack of financial reporting further complicate its legal standing.
There is no evidence that Carrod Securities implements effective client fund protection measures. The absence of regulation means that client funds are not safeguarded by any financial authority, posing a considerable risk to investors.
While Carrod Securities claims to serve clients globally, its unregulated status limits its operational capacity in many regions, particularly those with stringent financial regulations.
Carrod Securities has a poor compliance history, characterized by multiple reports of withdrawal issues and unregulated operations. This history significantly undermines its credibility as a trading platform.
Carrod Securities positions itself as an independent broker in the forex trading market. However, its lack of regulation and numerous complaints have severely impacted its reputation.
The primary differentiation factors for Carrod Securities include its claimed competitive spreads and the use of the MT5 platform. However, these claims are overshadowed by the significant risks associated with trading through an unregulated broker.
In summary, Carrod Securities Company raises numerous red flags that make it a questionable choice for traders. The absence of regulatory oversight, coupled with reports of withdrawal issues and a non-functional website, highlights the potential risks involved. Investors are advised to exercise caution and consider alternative regulated brokers that prioritize client safety and provide reliable trading services.
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