FTM trade – Broker Review

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FTM trade

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If you are looking for a reliable and trustworthy online broker, you might have come across FTM trade. FTM trade is a forex and CFD broker that claims to offer competitive trading conditions, advanced trading platforms, and excellent customer service. But are they really legit? Or are they just another scam that will rip you off your hard-earned money? In this FTM trade broker review, we will examine their features, regulations, fees, and reputation to help you decide if they are worth your time and money.

What is FTM trade?

FTM trade is an online broker that was founded in 2018 and is based in St. Vincent and the Grenadines. They offer over 250 trading instruments, including forex, stocks, indices, commodities, and cryptocurrencies. They also provide access to various trading platforms, such as MetaTrader 4, MetaTrader 5, WebTrader, and MobileTrader. FTM trade claims to have a global client base of over 100,000 traders and to process over 1 million transactions per day.

Is FTM trade regulated?

One of the most important factors to consider when choosing an online broker is their regulatory status. A regulated broker is subject to the rules and oversight of a reputable financial authority, which ensures that they comply with high standards of security, transparency, and fair trading practices. A regulated broker also keeps clients’ funds in segregated accounts, protects them with insurance schemes, and offers dispute resolution mechanisms in case of any issues.

Unfortunately, FTM trade is not a regulated broker. They are registered in St. Vincent and the Grenadines, which is a notorious offshore jurisdiction that does not have any financial regulation or supervision. This means that FTM trade is not accountable to any authority and can operate as they please without any regard for the interests or safety of their clients. Trading with an unregulated broker exposes you to a high risk of fraud, manipulation, and loss of funds.

What are the fees and charges of FTM trade?

Another factor to consider when choosing an online broker is their fee structure. A good broker should offer competitive and transparent fees that do not eat into your profits or surprise you with hidden charges. Some of the common fees that brokers charge are spreads, commissions, swaps, deposits, withdrawals, inactivity, and conversion fees.

FTM trade claims to offer low spreads and commissions on their trading instruments. However, their website does not provide any specific information on their actual fees and charges. This raises some red flags as it suggests that they are not transparent about their pricing and may charge hidden fees or change their rates without notice. Moreover, some online reviews from former clients have reported that FTM trade has charged them excessive fees or refused to process their withdrawal requests.

What is the reputation of FTM trade?

The final factor to consider when choosing an online broker is their reputation. A good broker should have a positive reputation among their clients and the trading community. They should also have a professional and responsive customer service team that can handle any queries or issues that may arise.

 

FTM trade does not have a good reputation in the online trading world. They have received numerous complaints and negative reviews from their clients on various platforms, such as Trustpilot, Forex Peace Army, and Scam Broker Investigator. Some of the common issues that clients have reported are:

  • FTM trade uses aggressive and misleading marketing tactics to lure unsuspecting traders into depositing money with them.
  • FTM trade assigns unqualified and unprofessional account managers who pressure clients to invest more money or make risky trades.
  • FTM trade manipulates the trading platform or the market prices to cause clients to lose money or miss profitable opportunities.
  • FTM trade does not allow clients to withdraw their money or closes their accounts without explanation or justification.
  • FTM trade does not respond to clients’ emails or calls or provides rude and unhelpful answers.

Conclusion

Based on our FTM trade broker review, we do not recommend trading with them. They are an unregulated and shady broker that has a poor reputation and a history of scamming their clients. They do not offer any advantages or benefits that would justify the risk of losing your money or personal information. There are many other reputable and regulated brokers that you can choose from instead. Therefore, we advise you to stay away from FTM trade and look for a better alternative.

What to Do If You’ve Lost Money with FTM trade?

If you have been scammed by FTM trade or any other broker, you’ll want to seek assistance from brokercomplaintregistry.com immediately. Our experts will consult with you and bolster your claim to help you get your money back. Brokercomplaintregistry.com is a leader in recovering your funds and will help you retrieve your funds from a broker scam.