Ftrade Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this Ftrade Review.
Ftrade is a binary options provider, which is connected a company we have previously covered. That being said, the other brand provided a forex trading offering, alongside binary options.
The Company. Security of Funds
Ftrade is owned by Binext Global LTD, which is owned by Binext Solutions SRL. The latter is located in Bucharest, Romania, despite the first one is registered on the Marshal Islands. We know this because our review of the other brand this company runs – 10trading.com. No matter from where this broker is actually being operated one thing remains certain – they are not regulated. This is a big issue for us and we avoid proceeding with caution, when it comes to such entities.
You may or may not be familiar with the topic, but financial regulation is a key component of a broker’s credibility. The financial services industry is inherently prone to scamming – a company can claim to offer a service and instead simply take your money and not provide anything. This is why most countries have specific regulatory bodies, who monitor firms, which are registered with them. One such agency which covers some binary options brokers is the Cyprus Security and Exchange Commission (CySEC).
It enforces a lot of rules upon the companies it oversees. When it comes to the security of your funds two stand-out: the implementation of segregated accounts and the mandatory participation in the local compensation scheme. In short, segregation of client funds means there are certain procedures which must be followed when the broker interacts with a client’s funds – they can’t simply take your deposit and not offer any trading. The compensation scheme is basically an insurance company-like mechanism which guarantees traders’ funds against their broker going bankrupt. The coverage provided by CySEC regulated companies is limited to €20,000.
Trading Options: Binary (Call/Put), Parirs, Long term, 60 seconds, One Touch, Ladder, FX/CFD*
Assets: Currencies, Commodities, Indices, Stocks, Crypto Currencies.
*The FX/CFD option is a mix between an option and spot trading
Minimum Initial Deposit
The initial deposit ar Ftrade must be at least $200. This is a rather high level, when compared to some other binary brokers. As an example FinaCom-regulated Grand Capital, only demands $10 for the creation of a new account.
While the payouts vary, depending on the type of option you choose, most binary options at Frade have a payout of 81%. This is slightly below the current industry average with lots of providers giving around 87%.
Ftrade has implemented the web-based SpotOption platform. While it is a popular a relatively convenient option, it simplicity may not be everybody’s cup of tea. Here is a screenshot, with the explanations, provided by Ftrade on both sides
While a lot of instruments are available on this platform, we can’t speak highly about its charting potential.
Methods of Payment
Ftrade only offers several methods of payment, which include Bank Transfer, Credit/Debit Card and two e-wallets – Skrill and Neteller.
Ftrade is a Romanian binary options provider, operated by the same company which runs 10trading. That being said, the firm does not fall under any financial regulation, which always creates counterparty risk. The minimum deposit and bet sizes are on the high side, which is not that exciting. Additionally payouts are slightly lower than the offers you could find elsewhere.
Instead of the forex broker you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
Ftrade Review Conclusion
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