In this review, we will describe why ForTradersFX is a scam that you should avoid at all cost !
Is ForTradersFX Legit?
ForTradersFX is an unregulated broker. This broker is owned by ForTradersFX Ltd, located on the Marshall Islands. Problem with unregulated brokers is that they are not reliable and abuse the regulations. Make sure to stay away from this broker as they are anonymous and that they can disappear any time without notice.
To make sure you are dealing with a regulated and known broker, you should be able to find easily who is the CEO of this brokerage firm, who is running it etc. Lack of information is a big red flag since you don’t know who will be dealing with YOUR MONEY. This is the reason why ForTradersFX is a dangerous broker to deal with.
Are Funds Safe with ForTradersFX ?
With such lack of information and ForTradersFX being unregulated, funds are not safe. Security of funds is a huge problem with unregulated brokers. A red flag that we noticed is ForTradersFX is withholding vital information to users.
ForTradersFX could go bankrupt from one day to another since there are no banking information about this broker.