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How about Finance Trade Capital? Safe or not?
Daniel Pataman
Monaco
2023-07-14
ANSWER Finance Trade Capital is an unlicensed broker which is not a safe choice for investments.The failure of Finance Trade Capital to disclose its regulatory information can be interpreted as a significant scam indicator, as legitimate brokers always prominently display their accreditation and licenses. In an attempt to appear real, Finance Trade Capital displays an address in the US. Since the trading platform presents itself as a provider of online Forex trading, its business is required to be regulated by the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). However, in a press release, the CFTC confirmed that Finance Trade Capital is an illegal platform and hence added it to its RED List.In conclusion, Finance Trade Capital is an unlicensed broker, with a warning from the CFTC further demonstrating its illegitimacy. Once your money and personal information are held by this platform, there are no rules in place to safeguard them. Therefore, we strongly suggest investors stay away from unlicensed brokers like Finance Trade Capital and instead choose a fully regulated one to mitigate such risks.
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