First Trade CO is a forex and CFD broker that claims to offer a variety of trading products and services. However, there are a number of red flags that suggest that First Trade CO is a scam broker.
Company Overview
First Trade CO is not registered with any financial regulatory authority. This means that there is no government agency to oversee its activities and protect its clients.
The company’s website does not provide any information about its management team or its financial background. This is another red flag, as legitimate brokers are typically transparent about who they are and how they operate.
Does First Trade CO Have Any License?
No, First Trade CO does not have any license to operate as a forex broker. This means that it is not subject to any regulatory oversight and is therefore free to engage in fraudulent activities.
Is First Trade CO Regulated By Any Authority?
No, First Trade CO is not regulated by any financial regulatory authority. This means that there is no government agency to oversee its activities and protect its clients.
Pros and Cons
Pros:
- The minimum deposit is low.
- The trading platform is easy to use.
- The spreads are competitive.
Cons:
- The company is not regulated.
- There is no information about the management team or financial background.
- The website contains a number of red flags.
How Does First Trade CO Reach To Their Prey?
First Trade CO targets unsuspecting investors through a variety of methods, including:
- Online advertising: The company’s ads are often designed to look like legitimate financial news articles or investment advice.
- Social media: First Trade CO uses social media platforms to connect with potential investors and build trust.
- Cold calling: The company’s representatives will often cold call potential investors and offer them the chance to make a lot of money with little risk.
Technical Details of First Trade CO
Minimum Deposit:
The minimum deposit requirement for First Trade CO is $2000.
Trading Platform:
It is uses the MetaTrader 4 platform, which is a popular and well-respected trading platform.
Spread:
The spreads offered by First Trade CO are competitive.
Leverages:
First Trade CO offers high leverage, which can magnify profits but also losses.
Packages and Products They Offer
They offer a variety of trading products, including forex, CFDs, and commodities. The company also offers a variety of trading accounts, each with its own set of features and benefits.
Withdrawal and Deposit Method
This company offer a variety of deposit and withdrawal methods, including credit cards, debit cards, and wire transfers. However, there are a number of reports of withdrawal delays and problems with First Trade CO.
What Do Their Previous Traders Say?
There are a number of negative reviews about First Trade CO online. Many former clients have complained about withdrawal problems, account freezes, and outright fraud.
Summing Up- Why Should Not You Trust First Trade CO
There are a number of reasons why you should not trust First Trade CO. The company is not regulated, there is no information about the management team or financial background, and the website contains a number of red flags.
If you are considering trading with First Trade CO, I strongly advise you to reconsider. There are many legitimate forex brokers out there that you can trust.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money to First Trade CO, you may be able to recover it through a chargeback or arbitration. You can also contact a financial recovery service for help.
File A Complaint Against Scam Broker's
Final Thoughts
This company is a scam broker. Do not trade with them. If you have lost money to First Trade CO, you may be able to recover it through a chargeback or arbitration. You can also contact a financial recovery service for help.
We provide free consultation calls and recovery service recommendations to help in recovering the lost funds.
If you have any questions or concerns, please feel free to contact me.
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