BTCADA Global Limited Forex Broker

Key Information Details Company Name BTCADA Global Limited Years of Establishment 2-5 years Headquarters United Kingdom Office Locations N/A Regulation Unregulated Tradable Assets N/A Account Types ECN Account, VIP Account, Stand Account Minimum Deposit $7,000 USD Leverage Up to 1:200 Lot 0.01 Spread As low as 0 pip Deposit/Withdrawal Methods N/A Trading Platforms Meta Trader 5 Customer Support Options Contact number, QQ Overview of BTCADA Global Limited BTCADA Global Limited is a company that has been operating for 2-5 years and is headquartered in the United Kingdom. They offer trading services in the financial industry, specifically in the realm of common financial services. The company provides different account types, including ECN, VIP, and Stand accounts, each with its own minimum deposit requirement. They offer a trading platform called Meta Trader 5, and their customer support is available in English through a contact number and QQ. The company does not disclose information about the tradable assets or deposit/withdrawal methods. It is important to note that the regulatory status of BTCADA Global Limited was not provided with the information given. Regulation BTCADA Global Limited is an unauthorized broker and is labeled, under the lincense number 0536894, as unauthorized by the National Futures Association (NFA) in the United States. BTCADA Global Limited does not hold a license from the NFA, and its operations are not subject to NFA regulations. As a result, the company lacks the oversight and compliance requirements imposed by the NFA, which may raise concerns regarding the company's legitimacy and adherence to industry standards. Risk Warning Since BTCADA Global Limited is unauthorized and not regulated by the NFA, it operates outside the purview of established regulatory frameworks. Unregulated brokers may present higher risks to traders. The absence of regulation means that there are no specific guidelines or safeguards in place to protect investor funds, ensure fair trading practices, or resolve disputes. Traders should be aware of the potential risks associated with trading with an unregulated broker like BTCADA Global Limited, which may include a lack of transparency, potential fraudulent activities, and limited legal recourse in the event of financial misconduct or disputes. Pros and Cons BTCADA Global Limited offers ECN and VIP account types, providing traders with options to suit their trading preferences. The availability of the Meta Trader 5 platform allows for efficient trading and analysis. With leverage of up to 1:200, traders have the potential to amplify their positions. The company also offers low spreads, ranging by account, which may be appealing to cost-conscious traders. Additionally, the company provides customer support in English through phone and Chinese support by QQ. One of the significant drawbacks of BTCADA Global Limited is its unauthorized status, which raises concerns about the company's legitimacy and adherence to industry regulations. Second would be the lack of an accessible website, which has heavy negative implications about the management and credibility of the brokerage. The limited information provided about the company, such as deposit/withdrawal methods and tradable assets, may hinder traders' ability to make informed decisions. Moreover, negative customer feedback related to difficulties in withdrawing funds and reports of fraudulent activities raises red flags and further highlights the potential risks involved in engaging with this company. Pros Cons Offers Stand, ECN and VIP account types Unauthorized status Utilizes Meta Trader 5 platform Inaccessible Website Leverage of up to 1:200 Limited information on deposit/withdrawal methods and tradable assets Low spreads offered Negative customer feedback Customer support available in English and Chinese Inaccessible Website The website of BTCADA Global Limited appears to be inaccessible or unavailable, which severely limits access to important information about the company and its services. This lack of accessibility hampers transparency and undermines the company's reputation. Potential clients seeking to gather comprehensive details about the company's offerings, regulatory status, or terms and conditions are unable to do so, which raises concerns and questions about the legitimacy and credibility of BTCADA Global Limited. The unavailability of the website leaves traders unable to access vital information that would typically be provided by a reputable and transparent broker, like the ability to create an account or updated information on the brokerage. Account Types BTCADA Global Limited offers three account types: ECN Account, VIP Account, and Standard Account, with all specific information as follows: ECN Account: BTCADA Global Limited offers the ECN Account type, which requires a minimum deposit of $50,000 USD. Traders utilizing this account have access to a maximum leverage of 200:1. The minimum spread for this account ranges from 0 to 0.3. However, specific details about the available products and supported currencies are not provided. The minimum position size for trades is set at 0.01. Additionally, there is no information available regarding the supported EA (Expert Advisor), depositing method, withdrawal method, or commission associated with the ECN Account. VIP Account: BTCADA Global Limited offers the VIP Account, which demands a minimum deposit of $20,000 USD. This account type allows traders to utilize a maximum leverage of 200:1. The minimum spread for the VIP Account ranges from 1.2 to 1.8. Similar to the ECN Account, details about available products and supported currencies are not specified. The minimum position size for trades remains at 0.01. Unfortunately, information regarding the supported EA, depositing method, withdrawal method, and commission for the VIP Account is not provided. Stand Account: BTCADA Global Limited offers the Standard Account, which requires a minimum deposit of $7,000 USD. Traders with a Standard Account can utilize a maximum leverage of 200:1. The minimum spread for this account type ranges from 2.2 to 2.8. As with the other account types, specific details about the available products and supported currencies are not disclosed. The minimum position size for trades remains at 0.01. However, information about the supported EA, depositing method, withdrawal method, and commission associated with the Standard Account is not available. Account Type Minimum Deposit Maximum Leverage Minimum Spread Minimum Position Commission ECN $50,000 USD 1:200 0-0.3 0.01 N/A VIP $20,000 USD 1:200 1.2-1.8 0.01 N/A Standard $7,000 USD 1:200 2.2-2.8 0.01 N/A Minimum Deposit BTCADA Global Limited has different minimum deposit requirements based on the account type chosen. The ECN Account requires a minimum deposit of $50,000 USD, the VIP Account requires a minimum deposit of $20,000 USD, and the Standard Account requires a minimum deposit of $7,000 USD. The minimum deposit serves as the initial investment amount required to open an account with the company. It is important for traders to consider their individual financial circumstances and risk tolerance before deciding on the account type and corresponding minimum deposit that aligns with their trading goals. Leverage BTCADA Global Limited offers a maximum leverage of 200:1 across its account types. Leverage allows traders to control larger positions in the market with a smaller initial investment. However, it is important to note that higher leverage can amplify both profits and losses, increasing the risk involved in trading. Spread BTCADA Global Limited provides different spreads across its account types. The ECN Account offers a spread range of 0-0.3, the VIP Account offers a spread range of 1.2-1.8, and the Standard Account has a spread range of 2.2-2.8. The spread represents the difference between the bid and ask prices of a financial instrument and reflects the cost of trading. Lower spreads can be favorable for traders as they reduce overall trading costs and may lead to potentially better trading opportunities. Trading Platforms BTCADA Global Limited offers the Meta Trader 5 (MT5) trading platform for its clients. MT5 is a widely recognized and popular platform among traders due to its advanced features and functionality. It provides a user-friendly interface, comprehensive charting tools, technical indicators, and the ability to automate trading strategies using Expert Advisors (EAs). The platform supports multi-asset trading, allowing traders to access various financial markets, including forex, stocks, commodities, and indices. The following is a table that displays BTCADA's available trading platforms in comparison to four other brokerages: Broker Trading Platforms BTCADA Meta Trader 5 (MT5) OctaFX Meta Trader 4 (MT4), Meta Trader 5 (MT5) FXCC Meta Trader 4 (MT4), NetStation Tickmill Meta Trader 4 (MT4), Meta Trader 5 (MT5), WebTrader FxPro Meta Trader 4 (MT4), Meta Trader 5 (MT5), cTrader Customer Support BTCADA Global Limited offers customer support through the following: Phone Support (English): Traders can reach customer support by dialing the contact number 400-6666-8888. QQ (Chinese): Customers can communicate through QQ using the provided QQ number 123456. These channels provide direct access to the company's customer support team, allowing traders to seek assistance, address inquiries, and receive guidance related to their trading activities. It's important to note that the availability of customer support through these channels may be subject to specific working hours or limitations, which is not available as BTCADA has no available website to reference information from. Customer Feedback BTCADA Global Limited has received customer feedback that raises concerns regarding the company's services. Traders have reported difficulties in withdrawing funds and have expressed dissatisfaction with their overall experience. Some reviews suggest instances of fraudulent activities, where traders were unable to withdraw funds even after upgrading to VIP accounts. Other feedback highlights issues related to the freezing of accounts if trading goals are not achieved within a designated time frame. These customer reviews indicate potential risks and challenges associated with trading with BTCADA Global Limited, reinforcing the importance of conducting thorough research and due diligence before engaging with the company. Conclusion In conclusion, BTCADA Global Limited, an unauthorized broker, lacks the necessary regulatory oversight and was labeled unauthorized by the National Futures Association (NFA). This raises concerns about the company's legitimacy and adherence to industry standards. Additionally, BTCADA Global Limited offers three account types with different minimum deposit requirements and maximum leverage ratios of up to 1:200 as well as provides the Meta Trader 5 trading platform. Furthermore, customer feedback has highlighted issues regarding difficulties in fund withdrawals and reports of fraudulent activities. The company's inaccessible website further adds to the lack of transparency and raises questions about its credibility. FAQs Q: What is the maximum leverage offered by BTCADA Global Limited？ A: BTCADA Global Limited provides a maximum leverage of up to 1:200. Q: What are the available account types with BTCADA Global Limited？ A: BTCADA Global Limited offers ECN, VIP, and Standard account types. Q: Which trading platform is offered by BTCADA Global Limited？ A: BTCADA Global Limited provides the Meta Trader 5 (MT5) trading platform. Q: How can traders reach customer support at BTCADA Global Limited？ A: Traders can contact BTCADA Global Limited's customer support through phone and QQ. Q: Is BTCADA Global Limited a regulated broker？ A: BTCADA Global Limited is unauthorized and lacks regulation from reputable authorities. Q: What are some concerns raised by customer feedback about BTCADA Global Limited？ A: Customer feedback highlights difficulties in fund withdrawals and reports of potential fraudulent activities with BTCADA Global Limited.