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FX Trader foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://ib.foxtrdrsr.com/public/register?fromuser=8955, about the company's legal and temporary regulatory information, the company's address .

FX Trader Forex Broker

Basic Information

Registered Region

Vanuatu

Operating Period

Company Name

FX Trader Group

Abbreviation

FX Trader

Company employee

Customer Service Email Address

au@fxtrds.com

Contact Number

+61280915881

Company Website

http://www.foxtrader.live/en/

2508979826

Keywords

5-10 years

Suspicious Regulatory License

Suspicious Scope of Business

Vanuatu Retail Forex License Revoked

High potential risk

Company profile

Aspect Information Registered Country/Area Vanuatu Founded year 5-10 years Company Name FX Trader Group Regulation Regulatory status is in question Minimum Deposit $100 Maximum Leverage Up to 1:500 Spreads From 0.6 pips Trading Platforms MetaTrader 4 Tradable assets Forex, CFDs, Options Account Types Standard, Premium, VIP Demo Account Not mentioned Islamic Account Not mentioned Customer Support Telephone: +61280915881, Email: hk@fxtrads.com, au@fxtrds.com, QQ: 2508979826, 2973859538 Payment Methods Credit/debit cards, bank transfers, Skrill, Neteller, WebMoney Educational Tools Online courses, webinars, tutorials, forex glossary Overview of FX Trader FX Trader is a trading platform operated by FX Trader Group, based in Vanuatu, with 5-10 years of market presence. However, its regulatory status is in question, as its license in Vanuatu has been revoked, and it is considered unauthorized by the NFA in the United States. The platform offers an extensive selection of market instruments, including forex trading pairs, CFDs on various assets, and options. The platform provides different account types - Standard, Premium, and VIP - with varying minimum deposits and leverages. Traders can access the widely recognized MetaTrader 4 platform, offering advanced charting tools and customizable strategies. While educational tools are available for all traders, customer reviews on WikiFX have accused FX Trader of potential scam behavior, with reported difficulties in fund withdrawals and alleged deceptive practices. Caution is advised when considering engagement with this platform due to its questionable regulatory status and negative user feedback. Pros and Cons FX Trader offers several advantages and disadvantages for traders. On the positive side, the platform provides an extensive selection of forex pairs, allowing for diverse trading opportunities. Additionally, traders can engage in Contracts for Difference (CFDs) on various underlying assets and explore options for more sophisticated strategies. The availability of multiple account types caters to various traders' needs, and the platform offers spreads from 0.6 pips. Moreover, FX Trader provides educational resources to enhance traders' knowledge and utilizes the popular MetaTrader 4 trading platform. On the other hand, the broker's regulatory status is in question, with concerns about unauthorized operation in the US and an exceeded regulated business scope. Limited information due to the main website being unavailable raises transparency issues, including uncertainty about deposit and withdrawal processes and trading conditions. Moreover, there are accusations of the broker being a scam based on customer reviews, and the customer support channels appear to be limited. Lastly, the relatively higher minimum deposit requirement may present a barrier for some potential traders. As such, caution is advised, and thorough research is essential for those considering FX Trader as their trading platform. Pros Cons Extensive selection of forex pairs Regulatory status in question CFDs on various underlying assets Limited information due to the main website being unavailable Options for sophisticated strategies Unauthorized in the US Multiple account types available Exceeded regulated business scope Spreads from 0.6 pips Limited information on deposit & withdrawal Educational resources available Limited information on trading conditions MetaTrader 4 trading platform Minimum deposit required is relatively higher Leverage up to 1:500 Accusations of being a scam based on customer reviews Various deposit/withdrawal methods Limited customer support channels Is FX Trader Legit？ The regulatory status of FX Trader appears to be in question in both Vanuatu and the United States. In Vanuatu, the license issued by the Vanuatu Financial Services Commission (VFSC) with license number 14656 has been officially revoked. Meanwhile, in the United States, the National Futures Association (NFA) indicates that FX Trader Limited is unauthorized, implying that it may not have the necessary regulatory approval to operate within the country. Additionally, the broker is noted to have exceeded the business scope regulated by both the NFA in the United States and the Australia Securities & Investment Commission (ASIC) in Australia, which may pose risks to potential clients. It is essential for interested parties to exercise caution and be aware of the potential risks associated with engaging with this broker, particularly given its offshore regulatory status in Vanuatu. Market Instruments FOREX: FX Trader provides an extensive selection of forex trading instruments, encompassing major pairs like EUR/USD, USD/JPY, GBP/USD, AUD/USD, and USD/CAD. Additionally, traders can access minor and exotic currency pairs, allowing for diverse trading opportunities. CFDs: At FX Trader, traders can engage in Contracts for Difference (CFDs) on various underlying assets without owning them directly. This includes CFDs on individual stocks, commodities, such as gold and oil, and indices representing different global markets. Options: FX Trader offers options as derivative contracts, providing buyers the right (but not the obligation) to buy or sell an underlying asset at a predetermined price on or before a specific date. Traders can explore FX options, stock options, and commodity options, enabling them to incorporate more sophisticated strategies into their trading activities. Pros and Cons Pros Cons Extensive selection of forex trading instruments Limited information on overall market instrument system Access to CFDs on various underlying assets Uncertain availability of specific trading options and features Offers options for sophisticated strategies Lack of detailed information on contract terms and risk exposure Account Types STANDARD: The Standard account type at FX Trader requires a minimum deposit of $100. Traders on this account can expect a spread of 1.0 pips on EUR/USD, and leverage of up to 1:500. The trading platform provided is MetaTrader 4, a popular choice among traders. Additionally, traders on the Standard account have access to various educational resources, including online courses, webinars, and tutorials to enhance their trading knowledge. PREMIUM: For the Premium account, a minimum deposit of $500 is required. This account type offers a spread of 0.8 pips on EUR/USD and the same leverage of up to 1:500 as the Standard account. Traders on the Premium account also enjoy the benefits of MetaTrader 4 as their trading platform and have access to the same educational resources. In addition, traders on this account are assigned an account manager to provide personalized support and assistance. VIP: The VIP account is tailored for high-volume traders with a minimum deposit of $10,000. Traders on the VIP account benefit from a spread of 0.6 pips on EUR/USD, maximizing their potential profits. The leverage offered remains the same as the other account types, reaching up to 1:500. As with the other account types, MetaTrader 4 serves as the trading platform, and traders receive access to educational resources. Additionally, VIP account holders enjoy the services of an account manager and faster execution for their trades. Moreover, they are entitled to other exclusive benefits, making this account type the most feature-rich and suitable for experienced and high-level traders. Pros and Cons Pros Cons Low minimum deposit for Standard account Limited information on other account benefits Spreads from 0.6 pips for VIP account Lack of clarity on exclusive VIP benefits High leverage for all account types Relatively high minimum deposit requirement for VIP account Educational resources for all account types Leverage FX Trader offers leverage up to 1:500 on its Standard account, 1:200 on its Premium account, and 1:100 on its VIP account. This means that for every $1 you deposit, you can control a trade of up to $500, $200, or $100, respectively. Spreads & Commissions FX Trader charges spreads from 1.0 pips on EUR/USD for its Standard account, 0.8 pips for its Premium account, and 0.6 pips for its VIP account. There are no commissions charged on any account type. FX Trader also offers a swap-free account that is free of overnight fees. Minimum Deposit The minimum deposit required to open an account with FX Trader is $100. Deposit & Withdrawal FX Trader accepts deposits and withdrawals via credit/debit cards, bank transfers, Skrill, Neteller, and WebMoney. The minimum withdrawal is also $100. Processing times for deposits and withdrawals vary depending on the method used, but they can be as fast as instant or as long as 3 business days. Pros Cons Multiple deposit options available Limited information on deposit processing times Various withdrawal methods supported Minimum withdrawal amount is relatively high ($100) Limited information on withdrawal processing times Trading Platforms FX Trader offers the MetaTrader 4 trading platform, a widely recognized and popular platform among traders worldwide. With MetaTrader 4, traders can access a comprehensive range of financial instruments, including forex, CFDs, and options. Traders can benefit from advanced charting tools, technical indicators, and customizable trading strategies. MetaTrader 4 provides a user-friendly interface and order execution. Pros Cons Utilizes MetaTrader 4 platform Limited information on deposit & withdrawal processes Access to diverse financial instruments Limited information on trading conditions Advanced charting tools and indicators Accusations of being a scam based on customer reviews Educational Tools FX Trader offers a variety of educational tools to help traders learn about the forex market and how to trade. These tools include online courses, webinars, tutorials, and a glossary of forex terms. The educational tools offered by FX Trader are available to all traders, regardless of account type. Customer Support FX Trader provides customer support through various channels. For English-speaking customers, they can be reached via telephone at +61280915881. For Chinese-speaking customers, the support number is 852-27636557. Additionally, customer support inquiries can be made through email at hk@fxtrads.com and au@fxtrds.com. For further assistance, customers can also reach out via QQ at 2508979826 and 2973859538. Reviews Based on the reviews on WikiFX, FX Trader is accused of being a scam. Customers reported being induced to invest, with their deposits transferred to private accounts. They were allegedly led to make trades that resulted in losses, and they encountered difficulties in withdrawing their funds. One specific review from a user named “津晨” highlighted these concerns on September 3, 2020. Conclusion FX Trader, operating under the FX Trader Group in Vanuatu, offers an extensive selection of forex trading instruments, CFDs, and options for traders. However, the regulatory status of FX Trader in both Vanuatu and the United States is questionable, with licenses being revoked and unauthorized. Potential clients should exercise caution due to the associated risks. The broker provides three account types with varying minimum deposits and leverage options. While it offers the widely recognized MetaTrader 4 trading platform and provides educational tools, reviews suggest possible scam activities, including difficulties in fund withdrawals. As such, traders should carefully consider the risks and exercise prudence when dealing with FX Trader. FAQs Q: Is FX Trader a legitimate company？ A: The regulatory status of FX Trader is questionable in both Vanuatu and the United States. The license issued by the Vanuatu Financial Services Commission has been revoked, and it is unauthorized by the National Futures Association in the US. Q: What financial instruments are available on FX Trader？ A: FX Trader offers a wide range of instruments, including forex pairs, CFDs on stocks, commodities, and indices, as well as options contracts. Q: What are the different account types on FX Trader？ A: FX Trader provides Standard, Premium, and VIP account types, each with varying minimum deposits and benefits. Q: What is the leverage offered by FX Trader？ A: Leverage on FX Trader ranges from 1:100 to 1:500, depending on the account type. Q: How much is the minimum deposit to open an account with FX Trader？ A: The minimum deposit required is $100. Q: What are the deposit and withdrawal options？ A: FX Trader accepts credit/debit cards, bank transfers, Skrill, Neteller, and WebMoney for deposits and withdrawals. Q: Which trading platform does FX Trader offer？ A: FX Trader provides the MetaTrader 4 platform, known for its comprehensive features and user-friendly interface. Q: Does FX Trader offer educational resources？ A: Yes, FX Trader offers online courses, webinars, tutorials, and a glossary of forex terms for all traders. Q: How can I contact customer support at FX Trader？ A: Customer support can be reached via telephone, email, and QQ, with specific numbers and addresses provided for English and Chinese-speaking customers. Q: What have customers said about FX Trader？ A: Reviews on WikiFX raise concerns about FX Trader, with accusations of being a scam, difficulties in withdrawing funds, and questionable trading practices.

FX Trader broker review

Is FX Trader safe or scam

Rating Index

Fx Trader Forex Broker - Complete Information Guide

1. Broker Overview

　　Fx Trader, established between 5 to 10 years ago, operates under the name Fx Trader Group. The broker is headquartered in Vanuatu, a location often chosen for its favorable regulatory environment. Fx Trader is a private entity and has been engaging in the forex market primarily targeting retail traders, although it also offers services to institutional clients.

　　The broker's development has seen it navigate various stages of market participation, with a focus on providing a diverse range of trading products, including forex, CFDs, and options. Over the years, Fx Trader has aimed to expand its market presence, although it has faced scrutiny regarding its regulatory status. The company operates on a business model that emphasizes retail forex trading, catering to individual investors looking to trade currency pairs and other financial instruments.

　　Fx Trader broker offers clients a trading environment that includes various account types and educational resources, aiming to equip traders with the necessary tools for successful trading.

2. Regulation and Compliance Information

　　Fx Trader's regulatory status is a significant concern for potential clients. The broker was previously licensed under the Vanuatu Financial Services Commission (VFSC), but its license has been revoked, raising questions about its legitimacy. The broker is not authorized by major regulatory bodies such as the Commodity Futures Trading Commission (CFTC) in the U.S. or the Financial Conduct Authority (FCA) in the UK.

　　Regulatory Bodies:
　　Vanuatu Financial Services Commission (VFSC)
　　National Futures Association (NFA) - not authorized
　　Regulatory License Number: 14656 (previously held)
　　License Validity and Scope: The license was revoked, meaning Fx Trader is currently operating without regulatory oversight.
　　Client Fund Segregation Policy: The lack of regulation raises concerns about the safety of client funds, as there is no guarantee of segregation from the broker's operational funds.
　　Investor Compensation Fund Participation: Fx Trader does not participate in any investor compensation schemes, leaving clients without a safety net in case of insolvency.
　　KYC and AML Compliance Measures: While the broker may claim to adhere to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, the lack of regulatory oversight makes it difficult to verify compliance.

　　Fx Trader broker operates in a high-risk environment due to its unregulated status, and potential clients are advised to exercise caution.

3. Trading Products and Services

　　Fx Trader offers a variety of trading products aimed at meeting the needs of diverse traders. The broker provides access to a range of forex currency pairs and CFDs, which include:

　　Forex Currency Pairs: The broker offers a selection of major, minor, and exotic currency pairs. While the exact number of available pairs is not specified, it includes popular options such as EUR/USD, GBP/USD, and USD/JPY.
　　CFD Product Categories: Traders can engage in CFDs on various assets, including:
　　Indices: Major stock indices from around the world.
　　Commodities: Such as oil and gold.
　　Stocks: CFDs on individual stocks from various markets.
　　Cryptocurrencies: Limited offerings in the rapidly growing crypto market.
　　Special Products or Unique Trading Varieties: The broker may offer options contracts, allowing traders to speculate on the price movements of underlying assets without owning them directly.
　　Product Update Frequency and New Additions: Information on the frequency of product updates and the introduction of new trading instruments is not readily available.
　　Retail Trading Services: Fx Trader focuses primarily on retail clients, providing them with trading platforms and tools necessary for effective trading.
　　Institutional Client Services: While the primary focus is on retail, Fx Trader may offer services to institutional clients, though details are limited.
　　White Label Solutions: There is no mention of white-label solutions being offered by the broker.
　　Asset Management Services: Information regarding asset management services is not provided.

4. Trading Platforms and Technology

　　Fx Trader provides access to the MetaTrader 4 (MT4) platform, which is widely recognized in the trading community for its robust features and user-friendly interface.

　　MetaTrader 4/5 Support: The broker supports MT4, allowing traders to utilize its advanced charting tools, technical indicators, and automated trading capabilities. However, there is no mention of MT5 support.
　　Proprietary Platform Details: No proprietary trading platform has been indicated, suggesting that the focus remains on MT4.
　　Web-Based Trading Platform: Fx Trader does provide a web trader interface, making it accessible for users who prefer not to download software.
　　Mobile Applications: The broker offers mobile trading applications compatible with both iOS and Android devices, enabling traders to manage their accounts on the go.
　　Execution Modes: Fx Trader operates primarily on a Market Making model, where the broker acts as the counterparty to trades, although specific details on ECN or STP execution are not provided.
　　Server Location and Technical Infrastructure: There is limited information regarding the exact locations of servers or the robustness of technical infrastructure.
　　API Access and Automated Trading Support: Information on API access for algorithmic trading is not available.

　　Fx Trader broker emphasizes the use of popular trading platforms to cater to the needs of traders, although the lack of proprietary solutions may limit customization options.

5. Account Types and Trading Conditions

　　Fx Trader offers several account types designed to accommodate different trading styles and investment levels.

　　Standard Account Conditions:
　　Minimum Deposit: $100
　　Spreads: From 1.0 pips on major pairs
　　Commissions: No commissions are charged on trades.
　　Advanced Account Types:
　　Premium Account: Requires a minimum deposit of $500 with tighter spreads of 0.8 pips.
　　VIP Account: Designed for high-volume traders with a minimum deposit of $10,000 and spreads starting from 0.6 pips.
　　Special Accounts: Information on Islamic accounts or corporate accounts is not provided.
　　Demo Account Policy: The availability of a demo account for practice trading is not explicitly mentioned.
　　Leverage Ratio Range: Leverage varies by account type, with up to 1:500 available on standard accounts.
　　Minimum Trade Size: The minimum trade size is typically one micro lot, but specific details are not provided.
　　Overnight Fees Policy: Information on overnight fees (swap rates) is not disclosed.

　　Fx Trader broker provides a range of account types, but potential clients should be cautious given the regulatory concerns surrounding the broker.

6. Fund Management

　　Fx Trader supports various methods for depositing and withdrawing funds, although specific details are limited.

　　Supported Deposit Methods:
　　Bank Transfers
　　Credit/Debit Cards
　　E-Wallets: Such as Skrill and Neteller.
　　Minimum Deposit Requirements:
　　$100 for standard accounts.
　　$500 for premium accounts.
　　$10,000 for VIP accounts.
　　Deposit Processing Times: Processing times vary based on the method used but can take up to several business days.
　　Deposit Fees: There is no specific information available regarding deposit fees.
　　Withdrawal Methods and Limits:
　　Withdrawals can be made via bank transfer, credit cards, Skrill, and Neteller, with a minimum withdrawal amount of $100.
　　Withdrawal Processing Times: Withdrawal requests can take 1-3 business days to process, depending on the method.
　　Withdrawal Fee Structure: Specific details on withdrawal fees are not provided.

　　Fx Trader broker offers multiple funding options, but the lack of clarity on fees and processing times may be a concern for potential clients.

7. Customer Support and Educational Resources

　　Fx Trader provides various channels for customer support, although the quality and availability may vary.

　　Support Channels:
　　Telephone: Available for English and Chinese-speaking clients.
　　Email Support: Multiple email addresses for different regions.
　　Online Chat: Not explicitly mentioned.
　　Service Hours and Time Zone Coverage: Specific service hours are not provided.
　　Multilingual Support: Support is available in English and Chinese, but details on other languages are not specified.
　　Educational Resource Types:
　　Online courses
　　Webinars
　　Tutorials
　　Forex glossary
　　Market Analysis Services: Daily market analysis and news updates are not explicitly mentioned.
　　Trading Tools: The availability of trading tools such as calculators or signal services is not specified.

　　Fx Trader broker aims to provide educational resources to traders, though the effectiveness and comprehensiveness of these resources are unclear.

8. Regional Coverage and Restrictions

　　Fx Trader operates in various regions, though there are limitations on certain markets.

　　Main Service Markets: The broker primarily serves clients in Vanuatu and potentially other regions, although specific countries are not detailed.
　　Regional Office Distribution: Information on regional offices is not provided.
　　Countries/Regions Not Accepted: Specific countries where clients are not accepted are not mentioned.
　　Special Restrictions: The lack of regulation may pose additional risks for clients in certain jurisdictions.

　　Fx Trader broker has a presence in several markets, but potential clients should be aware of the regulatory landscape and potential limitations.

　　In conclusion, while Fx Trader offers various trading products and services, potential clients should exercise caution due to its unregulated status and the associated risks. It is crucial to conduct thorough research and consider the regulatory environment before engaging with any broker.

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