Cosmo-Traders Forex Broker

Note: Cosmo-Traders' official website: https://cosmo-traders.com/ is currently inaccessible normally. Cosmo-Traders Review Summary Founded2024 Registered Country/RegionChina RegulationUnregulated Market InstrumentsForex currency pairs, indices, commodities, precious metals, stocks, and cryptocurrencies Demo Account/ LeverageUp to 1:400 EUR/ USD SpreadFrom 0.5 pips Trading PlatformsA web-based terminal Minimum Deposit$5,000 Customer Support/ Cosmo-Traders is a newly-established company who offers forex trading through its web-based trading platform. It offers flexible leverages. However, it might be a scam because of too high minimum deposit requirement, unregulated status and inaccessible website.Pros and Cons ProsCons Flexible leverage ratiosNewly established Unregulated Inaccessible website High minimum deposit requirement No reliable trading softwareIs Cosmo-Traders Legit? Upon examining the background of this self-identified fraudulent provider, several warning signs quickly became apparent. A regulatory alert from the Financial Conduct Authority (FCA) dated November 27, 2023, raises significant concerns about Cosmotraders. Similar to the situation with FBK Markets, it was revealed that Cosmotraders does not possess the required licensing to provide Forex trading services, posing a potential risk to all funds deposited with the platform. Whats more, its official website is not available.What Can I Trade on Cosmo-Traders? Cosmo-Traders provides forex currency pairs, indices, commodities, precious metals, stocks, and cryptocurrencies. Tradable InstrumentsSupported Forex✔ Commodities✔ Indices✔ Cryptocurrencies✔ Precious Metals✔ Stocks✔ Bonds❌ Mutual Funds❌Account Type Cosmo-Traders offers the Presidential, Executive, Platinum, Premium and Green accounts with the minimum deposit of $250,000, $100,000, $50,000, $15,000 and $5,000 respectively. These amounts are very high. Traders should be cautious to trade on this broker.Leverage Cosmo-Traders offers varying leverage. The Presidential account offers the highest leverage at 1:400. Next, the Executive account provides a leverage of 1:300. Both the Platinum and Premium accounts share the same leverage of 1:200. Lastly, the Green account also offers a leverage of 1:200. Account TypeMaximum Leverage Presidential1:400 Executive1:300 Platinum1:200 Premium1:200 Green1:200Cosmo-Traders Fees The spread for the Presidential account ranges from 0.5 pips to 1 pip. For the Executive account, the spread varies between 1 pip and 1.5 pips. Meanwhile, the Platinum account offers spreads from 1.5 pips to 2 pips, whereas the Premium account has spreads from 2 pips to 2.5 pips. Lastly, the Green account features spreads that range from 2.5 pips to 3 pips. Account TypeSpread Range (pips) Presidential0.5 - 1 Executive1 - 1.5 Platinum1.5 - 2 Premium2 - 2.5 Green2.5 - 3Trading Platform Cosmo-Traders offers a web-based terminal to trade their trading instruments. However, this platform falls short in terms of functionality and reliability compared to industry-standard platforms.Deposit and Withdrawal Cosmo-Traders supports e-wallets like Neteller, Skrill, FasaPay, and PayPal, as well as wire transfers and credit/debit card payments. Withdrawal requests at Cosmo Traders are reportedly processed within 5–10 business days to make a withdrawal.The Bottom Line In conclusion, Cosmo-Traders exhibits several warning signs that prospective clients should thoroughly evaluate them. First, there is no regulation to oversight them. Second, their trading conditions are dangerous. Although Cosmo-Traders provides a variety of payment options and flexible leverages, these benefits are overshadowed by a lack of transparency, high minimum deposits, the absence of demo accounts, and doubts about the safety and security of funds.FAQs Is Cosmo-Traders a good for beginners? No. Beginners should look for regulated and more reliable brokers. Is Cosmo-Traders good for day trading? No. What security measures does Cosmo-Traders have in place to protect my funds and personal information? No.