Shard Forex Broker provides real users with * positive reviews, * neutral reviews and 1 exposure review!
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FCA Suspicious Clone 
Beware of this person. Wang Li tempts you to invest in foreign exchange and gold and then introduces the fake British brand Shard, the fraud platform. When the investment is profitable, you can't withdraw money at all
Summary: The Shard brokerage has garnered a mix of opinions, with many sources highlighting its significant regulatory concerns and questionable user experiences. While some users appreciate the trading platform's features, the overall sentiment leans towards caution due to reports of fraudulent activities and lack of transparency.
Note: It is essential to consider that Shard operates across different jurisdictions, which could influence regulatory oversight. This review aims to provide a balanced view based on various sources to ensure fairness and accuracy.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 5 |
| Customer Service and Support | 4 |
| Trading Setup (Experience) | 5 |
| Trustworthiness | 3 |
| User Experience | 4 |
| Optional Category |
How We Rate Brokers: Our ratings are based on a comprehensive analysis of user experiences, expert opinions, and factual data.
Founded in 2013, Shard Capital operates as a financial services provider in the United Kingdom. It offers a range of trading services, including Forex, CFDs, commodities, and indices. The brokerage is regulated by the Financial Conduct Authority (FCA), which is crucial for maintaining a secure trading environment. However, various sources indicate that while Shard claims to be regulated, there are significant concerns regarding its legitimacy and operational practices. The trading platform is proprietary, and it does not support popular options like MT4 or MT5.
Shard Capital claims to be regulated by the FCA in the UK. However, numerous reviews highlight inconsistencies regarding its regulatory status, with some sources labeling it as unregulated or suspicious. This discrepancy raises red flags for potential investors.
The broker reportedly accepts various currencies for deposits and withdrawals, including major fiat currencies like USD, EUR, and GBP. However, specific details regarding cryptocurrency support are not clearly outlined.
The minimum deposit to open an account with Shard is set at $100, which is relatively low compared to other brokers in the industry. This accessibility may attract novice traders, but caution is advised given the broader concerns surrounding the broker's trustworthiness.
Shard Capital does not appear to offer any bonuses or promotional incentives to new clients, which is common among many brokers that prioritize regulatory compliance.
The brokerage provides access to a diverse range of trading instruments, including Forex, CFDs, commodities, and indices. This variety allows traders to explore multiple markets, but the lack of clarity on specific asset offerings may deter some potential clients.
Shard Capital's trading costs include spreads starting from 0.1 pips and a commission of $7 per lot round turn. While the spreads are competitive, the commission structure may be considered high by some traders, particularly when compared to other brokers.
The broker offers leverage of up to 500:1, which can amplify both potential gains and losses. Traders should exercise caution and implement robust risk management strategies when utilizing high leverage.
The only trading platform available is the proprietary Shard Go platform, which may limit options for traders accustomed to more established platforms like MT4 or MT5.
There is limited information available regarding specific regions where Shard is restricted, but potential clients should verify local regulations before engaging with the broker.
Shard Capital provides customer support in English, but the availability of support in other languages is not mentioned, which could be a barrier for non-English speaking clients.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 4 |
| Tools and Resources | 5 |
| Customer Service and Support | 4 |
| Trading Setup (Experience) | 5 |
| Trustworthiness | 3 |
| User Experience | 4 |
The account conditions at Shard Capital are relatively basic, with a minimum deposit of $100. However, the lack of transparency regarding regulatory compliance significantly impacts the trustworthiness of these conditions.
While Shard Capital offers some educational resources, the overall quality and depth of these materials are lacking compared to other brokers. This could hinder traders, especially beginners, from making informed decisions.
Customer service at Shard Capital has received mixed reviews. While some users report prompt responses, others have highlighted issues with the support team's effectiveness, contributing to a sense of distrust.
The trading experience on the Shard Go platform is generally user-friendly, but the lack of familiar platforms like MT4 or MT5 may deter experienced traders who prefer those tools.
Trustworthiness is a significant concern for Shard Capital, with multiple sources indicating a history of complaints and potential fraudulent activities. This reputation could pose serious risks for investors.
User experiences vary widely, with some appreciating the platform's features while others express frustration over withdrawal issues and lack of transparency. This inconsistency further complicates the overall assessment of the broker.
In conclusion, while Shard Capital presents itself as a legitimate brokerage, the overwhelming concerns regarding its regulatory status and user experiences necessitate caution for potential investors. Always conduct thorough research and consider using regulated brokers with a solid reputation.
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