Fx-trade.co Review: Is FX-Trade Legit or Scam?

Fx-trade.co lures its clients by letting them know that they minimize cost to maximize their profit. The company behind this broker is incorporated in London using the name “FX-Trade Europe Limited”. It is not licensed by the FCA, hence the reason we didn’t include this broker in our list of companies worth trading and investing with.

The broker offers over 400+ symbols on their platform for trading. They run the popular MT5 software which is well-known for extensive charting capabilities.

Fx-trade.co also promises competetive spreads, security and safety of funds, full transparency and so on. Nearly every desperate Forex broker out here is making these promises and it does not matter because at the end of the day, they will still do the complete opposite, especially when they are not licensed.

Fx-trade.com Review: Inside the trading platform

FX-trade will give you the usual trading platform with a variety of instruments for trading since they run MT5 and Webtrader as well.

The company lets its clients trade Forex pairs, Crypto, Futures, Commodities, Stocks and Indices.

The platform can obviously be accessed by Desktop or mobile device.

All their account types have dedicated account managers. Support is by email and live chat.

While Fx-trade claims that they’re a no dealing desk execution broker, we doubt this statement because the broker is even shy to post their live spreads.

They’re avoiding transparency just like Global Capital Market and Kapital Markets FX which we recently reviewed and found that the brokers don’t want anything to do with questions that would expose their agenda.

Fx-trade account types

4 account types are offered by this broker. Surprisingly, the minimum deposit is $10,000 or its Euro equivalent.

FX-trade fails to provide details of their maximum leverage and trading conditions. They also fail to disclose fees such as swap and commission that is applicable when their clients use their platform.

The fact that they offer 4 account types also means they want investors to “upgrade” if they don’t feel satisfied trading on the basic account type.

However, the act of sending more money to this broker will increase the risk of losing more money.

Is Fx-trade.co legit or a scam?

Do not trade with the broker as they are obviously a scam. They are not licensed and they do not have enough consumer reviews to make them trustworthy.

Our advice is that you should avoid them at all cost.

What to do if you have been scammed by this Forex broker

There’s a live chat down below. If you have lost $5,000, please ask for a chargeback because this is no small money.

You can also utilize the money recovery form that I have included in this Fx-trade review.

The Conclusion

The scam is targeting high networth individuals or people who might not give it a second thought if asked to deposit 10k.

Remember that they are not licensed and the FCA is soon going to sound an alarm warning traders not to open accounts with the broker.

Thanks for reading this review. If you have feedback regarding fx-trade.co, please leave it in the comment section.