TradeFCM
A Boon or a bane to traders?
TradeFCM or Trade Forex Capital Markets is a company based out of Glasgow, the U.K. The company website is www.tradefcm.com
The city of Glasgow itself is a hub for individuals who are genuinely interested in any type of brokerage. Be it a Forex, CFDs on indices or stocks, and cryptocurrencies, Glasgow always welcomes investors.
TradeFCM is found to be a UK based company but is not regulated by the Financial Conduct Authority (FCA). FCA is the governing body that regulates international money transfers. It provides regulation to various financial organizations and financial advisors. Registration with FCA is mandatory for any broker form to generate confidence among its customers. It also mandates the minimum standards to be placed on the services and products by the companies.
Its defaulters are liable to a ban starting from one year to an indefinite ban. Also, it has the supremacy to investigate the firms and individuals. This thus collaborates to provide a safe and secure trading environment to the brokers. From time to time, FCA has been warning all of the investors from the U.K. about the risks involved in trading with a non-regulated forex company.
It is thus not recommended to trade with non regulated offshore brokers as it is highly risky and also they are operating under no strict supervision. This invites attractive deals and scams leading to loss of funds and in-genuine trades. The scope of the business itself becomes very suspicious and you technically have no protection of your funds. You are not clear of the genuine use of your funds by the broker. They can easily take your money and can disappear.
TradeFCM Services
TradeFCM provides trading in currencies, future shares, commodities, CFDs on certain products, etc. The product range is relatively low as compared to other competitors.
Trading accounts
The company has the option to choose a free demo account. It has live trading accounts as well. The minimum deposit required for the live account is $500.
It is a substantially high amount of investment. The company must make its accounts more user-friendly by decreasing the minimum deposit limit. The leverage rate is relatively high i.e. 1:1000. An ideal leverage ratio should not be more than 1:50 as is capped by many regulating authorities. It puts the funds at high risk.
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The accounts can be chosen from four options provided, Mini, Standard, Gold, and Professional. Each account has nothing much to offer except for the difference in the minimum deposit required and the average spreads.
Live trading accounts are further classified into three categories.
- PAMM Account: PAMM accounts with TradeFCM can be opened with partnership programs provided by the company. In this, the PAMM Manager can recruit an acquisition partner or an auxiliary partner.
While a PAMM Manager will be working from an individual’s behalf, it carries a huge risk of loss of the capital based on the performance of the manager. Thus PAMM accounts are not considered safe for trading. Also, the sharing percentage is considerably higher.
- Introducing Broker IB type: It is a type of company partner program. You can be associated with the company and promote its trades. The major concern here is the security of your invested money and the risk involved in credit.
- Islamic Account: People from Islam faith can go for the various accounts like Micro, Auto, Zero spread, Premium, VIP and Fix accounts. Spreads start from 1 pip and the telephonic trading facility is provided.
The company holds the right to withdraw the Islamic account status from any account at any time. A complex procedure of KYC and AML needs to be completed to get an account with TradeFCM.
Trading platforms
The company provides MT4 and MT5 as trading platforms. Both are the products of the USA based technical company MetaQuotes Software Corporation New York, USA. Both platforms are compatible with desktop or mobile use.
Holding on to the popularity and vast usage of Meta Trader platforms, TradeFCM also sticks to the same. No other trading platform is provided.
Modes of payment
Deposits are supported through credit cards, debit cards, e-wallets like Neteller, Skrill. Bank transfers are also accepted. TradeFCM charges a standard amount of money as fees while it comes to withdrawal. High response time is another issue in withdrawing your funds. USD, EUR are the most accepted currencies.
Customer support
TradeFCM review has found that the company commits the availability of 24*7 online support through mail and phone. The claims are soon grounded as customers are not very satisfied with the quality of the support offered.
While the support team works on a company eccentric approach whereas it must be customer-centric. High levels of dissatisfaction are observed in the support provided by the company to the PAMM account holders. Customers are left with the guide to preaching proper risk management and trading techniques.
Customer support provided by TradeFCM is very disappointing.
Social Media presence/ Website
While writing this TradeFCM review we were not able to connect to the genuine Facebook and Twitter accounts of the company. The non- availability of the social media accounts itself indicates the low levels of the online reputation management followed by the company.
The website of the company is also not user-friendly. It has links to social media which are not active. Lesser technical details are provided to the visitor with a lot more to give in theory. The company must understand the use of online tools to raise standard levels.
A bane with lots of issues
TradeFCM is an unregulated forex company. The jurisdiction of the matters and issues associated with the dealings with the company are not mandated.
No presence on online media has to taken as negative response management of the company as customers usually post their trading experiences online.
The high minimum investment is required. Also, you are forced to do extra investment to get good leverage at your account. Investing a high initial amount in an unregulated company is not a wise decision. Quantum amounts must be made mandatory to gain the confidence of the customers.
Weak or no help from the support team makes it a worse player in dealing with concerns of the customers. The account managers are always playing a blame game and making sure that even the funds are lost and the company must not get blamed for anything.
“Many traders have reported the fake trades inputting done by the company. In an ideal scenario, fake trades are put into your MT4 accounts resulting in huge losses. The trader is left with no other option but to go with the company’s “200% deposit bonus” due to the complete equity getting wiped out by the fake trades. You are compelled to trade again and assured to recover the loss until new fake trades are in and you are left with 100% loss.”
A veteran trader of the industry
Withdrawal requests are replied with the deals to convince the customers about investing more.
The product portfolio is limited and there is no option in the stocks. With the same initial investments, you get access to many more products as compared to the product range provided by TradeFCM.
Conclusion
A clear conclusion of not to trade with an offshore un-regulated broker company is hence made. Investors are advised to check the online reputation of the registered company. TradeFCM highly disappoints us in terms of high investment, high leverage, no worthy customer support, limited product portfolio. We thus rate it a 1 on a 1 to 5 scale rating. Not recommending the same.
TradInvestor
TopForex
Dr. Henrique Duck, PhD in Media Studies and Critical Theory, specializes in writing detailed critics stories and reviews. He has contributed to prominent newspapers and websites, providing insightful analysis of media content and its effects on society.
TradeFCM seems to be a controversial company in the world of trading. On one hand, it is based out of Glasgow, which is known for its thriving brokerage industry. On the other hand, it is not regulated by the Financial Conduct Authority (FCA), which raises concerns about its legitimacy and credibility.
As a trader, I would be hesitant to invest with a company that is not regulated by a governing body. The FCA provides a level of assurance to customers that the company is operating within the legal framework and adhering to certain standards. Without this regulation, it is difficult to know if TradeFCM is operating ethically and transparently.
However, I am curious to know more about why TradeFCM has not registered with the FCA. Is there a valid reason for this? Are they regulated by another governing body that provides similar assurances to customers? It would be interesting to hear from TradeFCM themselves on this matter.
Overall, it is important for traders
Tradefcm is a fake and fraud company. Please don’t invest. They are manipulating clients to get more money. Mr. Abhishek is manager who is big scammer and fraud man. They are frauds….So please don’t invest in this company. It’s totally fraud persons.
Tradefcm and mq5 platform IBELL marketing both are fraud and activating by single end.
I also lost my 1500$. FCM and IBELL marketing both are fake and fraud company. I lost my money.
Tradefcm is a fake and fraud company. Please don’t invest a single penny in this company. They are manipulating clients to get more money. They are frauds. I have lost 4600$ by trusting them.
It started in October 2020, Joel from London called and said that I will get 20%- 40% as returns on my investment every month. Than he introduced Lewis Lucas as his senior he provided me with 500$ credit bonus, so that I can watch how they work. In 10 days they made good profits on 500$. After that I invested 1800$, got three withdrawals too, and in January 2021 I took one more account of 1100$. Joel keep calling for more investment, like deposit 500$ and get 1500$ market movement is very good etc. When I told them I already invested a lot and asked for withdrawal in Jan from both my accounts they kept ignoring all my requests. And on 26 Jan they made bad deal and blown both by accounts. When I contacted them they said they will give 60% compensation and recover both my accounts. Than the real struggle starts, I called them mailed them for the compensation. But for long time they didn’t replied. After one month of wait they finally provided the compensation in as credit. Joel convinced me to recover my accounts. I told him my financial condition is not good I already lost my job due to covid and my husband was hospitalized too. He need expensive injections for his treatment. They recovered my accounts in April, but whenever I asked for the withdrawal they said certain levels to be finished than only I would be able to get the withdrawal otherwise to get my withdrawal need to invest 500$ to each accounts. I dont have funds to deposit already in huge debts. One day Joel said he talked to his company and they are ready to give me withdrawal, but I need to invest 250$ to each account to get the 1500$ from each account. I deposited 500$ on 3rd May. Joel called me again to invest 200$ more to get the withdrawal. I deposited 200$ on 4th May and made a request of 1500$ from my both accounts. But Joel again called and manipulated again for more money and said I will get 4500$ withdrawal he said borrow money from someone and return once I get withdrawal of 4500$ from both accounts. I was in need of money badly so I trusted him again and made the deposit of 500$ on 6th May. And waited for withdrawal again. On 7th May got a call from Lewis Lucas and he asked for 1000$ as he make a profit of 15000$ so to get that money. I cried and begged them to give me my withdrawal ASAP. But they keep asking for money. Joel called and said he will help me and give me 15000$ just deposit 500$and get the withdrawal and once I receive the withdrawal deposit 500$ more and then the withdrawal of 15000$ from other account. I pleaded him and he showed me the withdrawal of 15000$ from my account too. I trusted them and deposited 500$ on 11th May. He assured me that will receive withdrawal money in 24hrs. I kept waiting for the withdrawal. Its been one month but not received my withdrawal yet. When I confronted them they asked for more money in the name of GST. I have all recording and other proofs to prove it.
I lost my money but I don’t want it to happen to any other person. I would like to request all not to trust them at all. They are frauds. They will take your money.
Please help and aware clients from these type of fraudsters.
I am trader this company and my account number is 462894703918 i Invested $100 and took company credit and started trading when i invested the balance amount of $400 due to bad market prediction my account went on loss since i did not got call i have placed bad reviews about the company but support department contacted me and got me compensation and i am trading right now and gonna withdraw $100 today thanks TradeFCM Support and Trading desk fore the support you have provided Recommended Even i posted Fake reviews since loss but company supported me hats off to them
Finally they block my account and they stolen my all money from my account. Because of this review it’s very damm cheating company so be AWARE from this company.
Tradefcm 200℅ cheating company. Scammers. Fraud company.
I received a phone call from a Sri Lankan girl her name is Miss.Deepika. She told me invest in Tradefcm.com 100 USD. For one week if I am not satisfied she will refund my full amount immediately as she said.
But after that when I am invested 100 usd senior account manager Mr. Abhishek he wants 400 usd more for trading because of leverage issues as he said and he ask with me commitment date to full fill 500 usd.
But I said I need to watch your trading after that I will deside. But Mr. Abhishek said it’s just a formality please send a email to support team for your bonus. Them only he started the trading.
They gave me account in IBELL MARKETING. MQ5 platform. But in that platform just readonly mode we cannot do anything In that platform. In that without my request it will added credit amount first. Second thing nothing will happen upto 5 days. After that I am asking with that company they said we need a time for market scalping.
Finally as we spoke already if i am not satisfied I will get my investment. Right now I am asking with that company they said to what you can. We don’t give you a single money also do please Don’t INVEST in this fraud company.
I have full proof if this scam company.
So please don’t invest in this company. It’s totally fraud persons.
Tradefcm and mq5 platform IBELL marketing both are fraud and activating by single end.
Please don’t invest single money also in this company.
Tradefcm web portal are all manually operated by Fraud person Mr. Abhishek only. I have proof for holding my money first. And withdraw it manually by admin. But right now it show account is not operated.
100℅ Scam company. Cheating fellows Their mother and sisters are all call girls.
I received a phone call from a Sri Lankan girl her name is Miss.Deepika. She told me invest in Tradefcm.com 100 USD. For one week if I am not satisfied she will refund my full amount immediately as she said.
But after that when I am invested 100 usd senior account manager Mr. Abhishek he wants 400 usd more for trading because of leverage issues as he said and he ask with me commitment date to full fill 500 usd.
But I said I need to watch your trading after that I will deside. But Mr. Abhishek said it’s just a formality please send a email to support team for your bonus. Them only he started the trading.
They gave me account in IBELL MARKETING. MQ5 platform. But in that platform just readonly mode we cannot do anything In that platform. In that without my request it will added credit amount first. Second thing nothing will happen upto 5 days. After that I am asking with that company they said we need a time for market scalping.
Finally as we spoke already if i am not satisfied I will get my investment. Right now I am asking with that company they said to what you can. We don’t give you a single money also do please Don’t INVEST in this fraud company.
I have full proof if this scam company.
So please don’t invest in this company. It’s totally fraud persons.
Tradefcm and mq5 platform IBELL marketing both are fraud and activating by single end.
Please don’t invest single money also in this company.
They are big frauds. Let’s help others not to get trap in this company. Let’s save others.
Tradefcm is a fraud company. Please don’t invest in it. They keep ypu asking for more money. The only thing matters to them is taking money from clients on false statements and lies. Please humble request to all dont invest in it.