The trading market is one of the most profits making a market out there. If one has the experience and knows where, when, and how should they invest to get a profitable return, then this market is a great option for them. However, the trading market has its own risks as well. Several different scam brokers are waiting to lure you in and prey on all your money. No need to get disheartened though, In order to protect you from all of these scam brokers, we would be reviewing them one by one. Today we will be reviewing Elite Trade Fx, a broker that claims to have its headquarters in London. However, all that this company claim doesn’t seem to be true. Let us find out why by reading the full Elite Trade Fx review here.
About Elite Trade Fx:
Despite stating that their base of operations is in the UK, Elite Trade Fx does not hold an approved license from the Financial Conduct Authority commonly known as FCA. Any trader or investment broker, in order to legally trade in the market, must be approved by the regulatory authority of the country and must have a license that is given by the regulatory authority themselves. Our readers should be aware of the fact that the regulatory authorities of a country have put some strict parameters for getting a license and thus, a licensed trade broker will always guarantee the safety and your money will always be secure with them. Moreover, in case of any issues or types of glitch with the trading company that resulted in them losing your money, then according to the regulatory authority’s guidelines, they are compelled to pay you a reasonable amount as a reimbursement. Upon researching on their website, we found out that the company has no terms and conditions listed anywhere on the website. The registration and login buttons also seem broken as we were not able to access any website through them. Even though there is no way to cross-check this, the website claims to provide an MT5 platform which seems like the only positive thing that exists about this broker company. Upon reading thoroughly, we have observed that the trading conditions given here for the customers are not much favorable to them. The leverage offered also stands at 1:400, which seems like a lot for a legitimate trader to provide. These pointers bring us a step forward to the fact that this broker company is a total scam. The minimum deposit requires to open an account in this company is pretty confusing as on one side, it shows as $1, and on the other side, it shows $100. They also provide a wide variety of payment/ withdrawal methods, namely, skrill, Neteller, WebMoney, PerfectMoney, Bitcoin, Visa, Maestro, Wire Transfer, and local deposit. Even though they are proudly claiming such a wide variety, we found out on researching that only two out of all these methods actually work. The company also provides 4 trading accounts such as Beginner, Positional, Scalpers, and Professional. Nothing much is different in between all of these except the leverages and minimum deposit amounts.
Is Elite Trade Fx a scam or legit?
As per all the points that we have listed above according to our research and observations, we conclude that this company is a complete scam. They are ready to lie about everything from their credibility to license to convince and lure in a victim. We hope that this article may have proved helpful to you in recognizing yet another scam broker like Elite Trade Fx scam and save your valued money.