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Sure Forex Trade Review - is it scam or safe?

Sure Forex Trade review - Is sureforextrade.com scam or good forex broker?

RATING: 1 / 1 REVIEWS ForexBrokerz Sure Forex Trade
Sure Forex Trade is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Sure Forex Trade is a forex and CFD broker, which also offers binary options and claims to be regulated in many jurisdictions, including the UK, Cyprus, Dubai and the Bahamas. Unfortunately our research shows that non of this is true, so if you are thinking about depositing your funds with them, better think twice and read this review.

 

Account type Min. deposit Max. leverage Spreads
Standard Account $1 1:400 n/a

 

Sure Forex Trade Advantages:

 

Lots of trading instruments

 

According to their presentation, Sure Forex Trade offers over 80 currency pairs and lots of CFDs on precious metals like silver and gold, commodities, indices, stocks and even bitcoins. Still, if you are tempted by the idea of trading crypto assets you may also check our list of brokers, trading with bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

Leverage as high as 1:400

 

Except with offshore brokers or brokers regulated in Australia, we rarely see leverage as high as 1:400. And this is another reason, why Sure Forex Trade is lying about being regulated in the UK or Cyprus, where in the summer of 2018 leverage was officially capped at 1:30. So if you do want to risk trading with higher leverage, here you may check our list of brokers, regulated in Australia: 

 

>>Brokers regulated in Australia<<

 

No minimum deposit requirement

 

Sure Forex Trade says that with their basic account you can deposit as little as you want, and that sounds fine. Here we should note that some well known brokers like FBS and IG does not have a minimum deposit requirement as well.

 

Various payment methods

 

Sure Forex Trade says to be accepting payments with virtually all popular platforms – from credit and debit cards like VISA, MasterCard and American Express to PayPal, MoneyGram, Western Union, NetellerSkrill bank transfer and even bitcoins. Besides, here you may also check our list of brokers accepting payments with bitcoins:

 

>>Forex Brokers Accepting Bitcoin<<

 

Sure Forex Trade Disadvantages:

 

Sure Forex Trade falsely claims to be a regulated broker

 

As we understand Sure Forex Trade is a trading name of Sure Forex Trade Limited, which is supposedly licensed by the Financial Conduct Authority (FCA) in the UK, Sure Forex Trade Financial Services Limited, which they claim is regulated by the Cyprus Securities and Exchange Commission (CySEC),  Sure Forex Trade Global Markets Limited presumably authorized by the Dubai Financial Services Authority, and again Sure Forex Trade Global Markets Limited, licensed by the Securities Commission of the Bahamas.

 

It took us some effort to check the registers of all of the above mentioned institutions, and as we already noted in the beginning of our review, it turned out that non of this is true. Here you may take a look at our search result at the FCA:

 

 

Bear in mind that regulation is crucial for the safety of your investment, because if you deposit your money with a unregulated broker, you will have to rely entirely on the integrity of the people who run that business, and too often their integrity is not very high.

 

With an FCA broker you will even get an insurance on your account, that will cover up to 85 000 GBP of your funds, so here you may check as well our list of brokers regulated in the UK:

 

>>FCA Regulated Forex Brokers<<

 

Trading bonuses

 

Although, the idea of a bonus, might sound good too you, you should be aware that bonuses does not come for free. Usually they are linked to some minimum trade volume requirement, which too often is used as a pretext to cancel your withdraw requests. And precisely because the practice of offering trading bonuses is so controversial, they have been altogether banned on regulated markets like the European Union. And with Sure Forex Trade we have yet another problem – they does not tell us with what conditions their 100% or 200% bonus (depending on the account type) comes with.

 

No demo account

 

Unfortunately we were not offered  a demo account, and as Sure Forex Trade does not bother to share any information about their spreads on their home page, we can not comment on their trading conditions. Except for the maximum payout with the binary options – 95%, which is good, but not verified as we were not offered a binary options demo either. Bear in mind that with a standard account traders would usually expect spreads starting below 1,5 pips. Here you may check our list of brokers that offer tighter spreads:

 

>> Lowest spread forex brokers<<

 

MetaTrader4 not supported

 

When we registered with Sure Forex Trade we were offered a web based trading platform with very limited options. 

 

 

Unlike some well known trading platforms like the MetaTrader4, the Sure Forex Trade platform does not support the option to run algorithmic trading sessions, nor does it feature some of the advanced charting tools we are used to. So here you may also check our list of brokers supporting the MetarTrader4:

 

>>MT4 Brokers<<

 

Conclusion:

 

Sure Forex Trade sound like a typical scam. They falsely claim to be regulated by various institutions, including FCA and CySEC and they do not offer a reliable trading platform. So here our best advice is always to double check everything a broker tells you, especially any claims about regulation and authorization.

Latest news about Sure Forex Trade
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Traders` reviews for Sure Forex Trade

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