ForexTD Review: Forextd.com Unregulated Forex Broker

ForexTD is a Ponzi scheme that is not worth the take. The venture registration process is also straightforward. The fraudsters are wasting no time trapping their victims. However, the company continues to offer financial services and products to traders without having a license.

Nonetheless, the broker requires investors to provide ID for them to verify your account. Granting access to such critical data to scammers is unwise. The platform can do whatever it pleases with your information.

Therefore, you should not even think about trading with ForexTD. Other reliable forex companies in the market are transparent. The ventures have not manipulated their information to attract innocent investors.

Forextd.com Review

ForexTD claims to be a secure broker. However, the entity does not care to mention the bank it segregates traders’ funds in, which is a big red flag. It is most likely that the money you deposit fattens the con artists’ wallets.

The interface of the company is also not ideal. Whoever is behind this cheap venture only wants to enrich themselves with your money. The entity is also targeting cryptocurrency investors. Their lack of specialization also wants as both assets are volatile.

The company lacks transparency, and this is the main reason you should not waste funds. In most cases, you find legit forex companies offering multiple currency pairs. It helps traders to diversify their risks. The traders’ interest is always put first. Therefore, you have nothing to worry about once you sign up with the entity.

Trading Conditions and Available Interface

ForexTD does not disclose the amount of leverage or spread available to investors. This is not a legit forex company. In most cases, the limit will be available for all traders and interested clients. Hence, before you sign up, you are aware of what to expect.

Additionally, the entity also doesn’t feature trading software. This is a major scam trait that you shouldn’t take lightly. The entity has various account types that we shall discuss in detail. There is no trading take place on this platform.

Withdrawal and Deposits

ForexTD fails to feature the payment methods which investors can use. Therefore, considering that this is an outrageous scheme, we highly suspect that they will use shady options. The ones that limit investors from issuing a chargeback.

The withdrawal requests are handled within 5 days. The company does not mention fees. This is not an assurance that you won’t be charged. Fraudsters tend to overcharge clients. The inactivity policy is also not available.

A company that does not have a T&C document is a fraud. Why would you invest with them? We cannot find any advantage, and whoever is responsible for this platform lacks adequate knowledge in the forex sector.

ForexTD Investment Accounts and Promised Return

ForexTD has four accounts. All the packages have negative balance protection apart from their supreme VIP. The minimum amount that you can deposit in their Bronze lite plan is $250. The entity promises 30% profits, and clients can trade three times a week.

The Silver Lite takes a deposit of $500. The ROI increases to 40%, and one can withdraw after a month. The other plan is the Gold lite account. It has 5 trades every week, 50% returns, and a demo account. The least amount that one can deposit is $750.

Finally but not least, we have the Bronze package. It offers a profit of 70% and 7 weekly trades. The account also has a demo trade. In addition, there is no maximum of orders that one can trade. The profits of this broker are exaggerated and mind-blowing.

However, it would help if you did not count your chicks yet because you deal with a Ponzi scheme. They only lure you with attractive offers to end up disappointing you. ForexTD is bluffing, and you won’t become rich overnight.

Customer Support and Contact details

ForexTD does not care to reveal its country of origin. The entity is anonymous, and they hope to keep it that way. Investors can contact the entity via email. We, however, see this as a waste of time since the platform won’t get a response. Ponzi schemes have the worse way of handling charges of their clients. They often ignore your demands.

False Testimonials

We are used to the trend that ForexTD is using to lure in innocent traders. Investors claim that they are making money without necessarily having to trade. We suspect this is due to the ability to copy expert traders.

The entity is targeting naïve investors who want an easy of generating money. The information is mainly coming from novice traders. Stay away from this Ponzi scheme if you do not want to lose funds. They are using stock images, and the people the company displays have nothing to do with their dirty fraudulent activities.

The Domain Insight

Forextd.com is a platform that has been in the market since June 2019. It is, therefore, a surprise to us that the entity does not have a trading history. They just renewed their domain. This could be because the firm is not getting enough audience.

Additionally, the scam has not got the attention of traders who are looking to expose fraudsters. The client location of the Ponzi remains unknown. However, the venture ranks at 7,532,383 globally.

Regulation and Registration Status of ForexTD

ForexTD is a proud unregulated company. The broker does not feature information regarding its regulatory status. They are offering their services without minding the rules that have been enforced to protect traders.

The platform violates several rules in the industry. Various governments in the world have strict rules for investment schemes that target their citizens. There is a capital that a legit entity must deposit in their name for them to acquire a license.

The amount varies depending on the country that a broker wants to offer its services or products. For instance, the FCA requires a deposit of 730K EUR while the NFA needs $2 Million. The above regulatory watchdogs are for the UK and USA, respectively.

The tough measures help to keep off scammers from reach traders. ForexTD is a risky entity that does not offer fund safety. Once the company decides to leave the market, you won’t be able to receive your funds.

The government will not come to your rescue, as the people managing this venture are anonymous. Therefore, the broker shall do whatever it pleases. Moreover, the Ponzi scheme does not care to avail Terms and Conditions.

Given the nature of this entity, they will change their policy without even notifying their customers. There are better investment platforms in the market that you can utilize. Dealing with a licensed company grants you the assurance that your money is safe.

Final Verdict

All the red flags we discuss are enough to keep you off this dirty scheme. It has become a trend for Ponzi schemes to apply the copy and paste strategy to generate high returns to investors. They claim that you will earn big effortlessly.

It would help if you thought twice before giving ForexTD access to your funds. The company avails inadequate information of their trading activities. Therefore, they expect you to trust them even without having concrete proof of trading activities.

Invest with the best forex trading companies instead of wasting your time in this fraud. You stand a better chance of growing your portfolio with them. Moreover, the ventures have verified results from reputable third parties.

 

 

Tags: ForexTD Review, Forextd.com Review