Foptrade Forex Broker

Note: Foptrade' official website: https://foptrade.com is currently inaccessible normally.Foptrade Review SummaryFounded2021Registered Country/RegionVanuatuRegulationUnregulatedMarket InstrumentsForex, CFDs, equities, commodities and indicesDemo Account✅LeverageUp to 1:200EUR/USD SpreadFloating around 3.0 pipsTrading PlatformA simple version of MT4Min Deposit/Customer SupportService time: Mon-Fri: 07:00 - 16:00 GMTEmail: support@foptrade.com Foptrade is allegedly a broker founded in 2021 and registered in Vanuatu. It offers trading in forex, CFDs, equities, commodities and indices with maximum leverage of 1:200 and floating spreads around 3 pips via the MetaTrader4. However, it is not a legit broker.Pros and ConsPros Cons Various trading productsInaccessible websiteDemo accounts availableUnregulatedHigh spread setNo info on minimum depositOnly email supportIs Foptrade Legit? No. Foptrade has no regulations currently. Please be aware of the risk!What Can I Trade on Foptrade?Tradable Instruments Supported Forex✔CFDs✔Commodities✔Indices✔Equities✔Stocks❌Cryptocurrencies❌Bonds❌Options❌ETFs❌Account Type Apart from free demo accounts, Foptrade claims to offer four types of trading accounts, namely Micro, Classic, Premium and VIP. However, it says nothing about the minimum initial deposit requirement to open an account.Leverage The leverage provided by Foptrade is capped at 1:200. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.Spread The spread for the EUR/USD pair is as high as 3 pips, while the industry average is just 1.5 pips.Trading Platform Foptrade provides access to a distribution of Metatrader 4, as well as a simpler, web-based version of the platform.Deposit and Withdrawal Foptrade only accepts deposits via Bitcoin, which is a final and irreversible method and thus often favored by scammers. Exercise caution when using it for deposits!