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ToTradeFX Review – is it scam or safe?

ToTradeFX review  – is www.totradefx.com scam or safe forex broker?

RATING: 2 / 2 REVIEWS ForexBrokerz ToTradeFX
ToTradeFX is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Trading accounts and conditions

 

Account type Minimum deposit Minimum trade size Maximum leverage Average spreads
Mini $25 0.01 lots 1:1000 2 pips
Standard $1000 0.01 lots 1:500 1.5 pips
ECN $5000 0.01 lots 1:100 From 0.5 pips*

*Commission: $10


ToTradeFX has three types of live trading accounts, plus a free demo account. The broker's asset portfolio consists of a little over 60 forex pairs, spot gold and silver, CFDs on indices, oil and gas.


ToTradeFX says it offers free VPS under certain conditions.



The company. Security of funds


Company Country Regulation
ToTradeFX UK No

 

Finding information about ToTradeFX is a bit hard, but, according to the contacts section of the site, the company is located in the UK.


The company says it is “Regulated under TradeFxPlatform MetaTrader under the U.K Registration Companies House.” This in fact means absolutely nothing in terms of proper financial regulation, as the UK regulator is the Financial Conduct Authority (FCA), not the Companies House, which is in practice the registry of all companies in the UK. Second, the broker is obviously referring to the popular MetaTrader trading platform, which does not fall under the supervision of FCA. To resume: ToTradeFX is not regulated.


As a general rule it is advisable that traders avoid unregulated brokers and choose properly supervised ones, especially those regulated by the FCA or the Australian Securities and Investment Commission (ASIC).



Trading platform


ToTradeFX, like the vast majority of forex brokers, offers the most popular trading platform, MetaTrader 4 (MT4). The broker provides only the desktop and the web version, but the mobile applications are not available.


For the more than 10 years of its existence MT4 has become the preferred trading platform by brokers and traders alike. It has numerous features and is user friendly. Furthermore it supports third-party add-ons, multiple types of orders and automated trading and provides many analysis and charting tools. The platform also supports money management accounts and automated trading.

 


Promotions


ToTradeFX has several types of promotions. Currently they include a welcome bonus. In order to qualify for it, a new client must deposit at least $500 in a Mini or a Standard account. There are also a “refer a friend bonus” and a “$15 free deposit”.



Payment methods


Like virtually all forex brokers, ToTradeFX accepts payments through bank transfer and debit and credit cards. Clients can also make deposits through the online payments systems Skrill, Neteller, OK Pay, Perfect Money and Lava Pay.



Conclusion


Yet another unregulated forex broker with so-so trading conditions under the sun. If we have to be completely honest, however, the Mini account has relatively acceptable conditions, but certainly there are forex brokers with similar, if not better conditions, that are properly regulated and dealing with them is less risky.


Pros Cons
MT4 Unregulated
Multiple deposit options  

 

 

Latest news about ToTradeFX
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Traders` reviews for ToTradeFX

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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Whitdraw

Hi,
I invest 600€ by someone Who told me to help at this.
This IS Up to 20.000€. And they told me I have to put
5000€ on bitcoins again before to withdraw my money to a
Bank account. IS It that normal? I have not this money.
Regards

Lucia 08/31/2019
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