Trade Fintech Review
Trade Fintech offers its clients 3 account types, depending on their initial investment amount. All of them provide micro tradeable lots, commission-free trading and leverage up to 1:200 on the MetaTrader 4 platform.
The broker does not provide much information on its trading conditions, and there are no demi accounts either.
Indeed, a minimum initial deposit of $250 is a common amount to start with, yet what you get for it is high fixed spreads (amounting to 3 pips on EUR/USD), and no choice of trading instruments (only the basic currency pairs). It is not worth it.
If you are into indices or stock CFDs, you have to invest at least $20 000, and if you are lucky, you may even trade with some decent spreads. The thing is, Trade Fintech is not regulated, so if something goes wrong, you will probably never get your money back.
In fact, there are plenty of duly regulated brokers that have set lower minimum initial deposits (or none at all), offer much more instruments for trade with tighter spreads. For example, by investing $150 with Trading212 (holding FCA license), you can use spreads below 1 pips on EUR/USD. For further information and comparison you may check out the real-time spreads of 15 leading brokers here.
The Company. Security of Funds
S.O Strategic Partnership LP
According to the limited information on its website, Trade Fintech is a Scotland-based forex and CFD broker that supports the industry’s standard MetaTrader 4 platform.
The company behind the brand, S.O Strategic Partnership LP, is registered in Scotland, UK, but is not licensed by the Financial Conduct Authority, nor by any other regulator.
As we have already explained above, investing with non-regulated (or offshore) companies is extremely risky. That is why, you’d better select among brokers regulated by reliable authorities such as UK’s FCA, or Australia’s ASIC, where regulation and supervision is strict and your funds will be safe.
Like most brokers, this one also supports the MetaTrader 4 (MT4) platform, desktop, and web versions available.
MT4 is easy to use and offers a number of technical analysis indicators, extensive back-testing options, advanced charting package, and wide range of Expert Advisors (EA), allowing clients to fully automate their trades.
Methods of Payment
Trade Fintech offers its clients the following payment methods: bank wire transfer and via credit/debit cards, as well as e-wallets such as WebMoney, CashU, giropay, Ideal, and POLI.
Trade Fintech is a UK-based forex and CFD broker that supports the popular MT4 platform. Its offerings are not very attractive, but even worse, it is not licensed by FCA, nor by any other authority. Besides, we find the spreads on commission-free accounts wide.
Trade Fintech Review Conclusion
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