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UK Further Trading Review - is it scam or safe?

UK Further Trading Review - is furthertrading.co.uk scam or good forex broker?

RATING: 1 / 0 REVIEWS UK Further Trading
UK Further Trading is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Trading Accounts and Conditions

 

Trading account  Min. deposit Max. leverage Spread
Standard  $2,000 1:200 1.2 pips
Plus  $5,000 1:200 N/A
Pro  $30,00 1:200 N/A
ECN  $100,000 1:100 N/A

 

Uk Further Trading presents itself as a UK-based forex and CFD broker. It offers the four account types listed above and access to the MetaTrader5 platform.

 

Read on our detailed review on this broker and make sure you do that before investing with it - we have serious concerns about this broker. Nonetheless, we will start off with a few possible benefits, as we always strive to be objective.

 

 

UK Further Trading Advantages

 

Trading on the MT5 with solid leverage

One of the strong sides of UK Further Trading is that it offers its clients trading on the MetaTrader5 (MT5). The presence of any of MetaQuotes’ platforms in a broker’s offering is always considered a positive, simply because most traders are familiar with the software and enjoy using it.

 

The MT5 has kept most of the features of the MT4 (the great charting, automated trading via EAs, and more), and also has some improvements. More specifically, the MT5 allows users to trade derivatives and exchange-traded stocks from one and the same account.

 


>> Check out the best MT5 Brokers <<

 

 

Besides, clients of UK Further Trading can use leverage up to 1:200, which is high enough to suit the needs of almost all traders. Although leverage is a controversial part of forex trading, some traders enjoy using higher ratios, despite the greater risk of loss it brings along. That is why we consider the availability of high leverage as an advantage.

 

Competitive spreads on demo

UK Further Trading has not announced any reference spreads on its website, but when we tested its MT5 in demo mode, we found the spread on EUR/USD floating around 1.2 pips. Such costs of trading is in line with the average in the sector.

 

 

UK Further Trading’ demo desktop MT5. Click on the image to zoom-in

 

Although the trading costs with this broker seem low, keep in mind that it is not licensed and could be involved in scam. So, you’d better check out the pricing of some top-notch brokers instead:

 

 

>> Spread comparison page <<

 

 

UK Further Trading Disadvantages

 

No legit license, blacklisted by the FCA

This broker is owned and operated by UK Further Trading Co Limited, a company allegedly based in the UK and having a representative office in Hong Kong. However, going on the online registry of the UK’s Financial Conduct Authority (FCA), we find no mention of the company’s name. Obviously, the broker does not hold a legit license, which makes them a very unreliable trading partner.

 

 

What is worse, we found out that the FCA has put out a warning against UK Further Trading. More specifically, the UK financial watchdog has blacklisted the broker as a clone of FCA-licensed investment management company AMG Capital Partners Limited.A clone firm is one that uses the details of regulated companies in an attempt to convince investors that they work for a genuine, authorized firm. The FCA, as well as Forexbrokerz.com recommends that investors stay away from all brokers that present such purposefully misleading information.

 

Initial investment of $2000 required

Although UK Further Trading is not a legitimate broker, it requires an initial investment of $2000 for its Standard account, which is pretty excessive. By comparison, most brokers, including licensed and reliable ones, require something in the range of $100 - $250 as a start.

 

No CFDs on Stocks and crypto

When we tested UK Further Trading’s MT5, we noticed that the broker does not offer trading in popular instruments such as CFDs on stocks and cryptocurrencies like Bitcoin, Ethereum, etc. This is not a major flaw, yet some traders will miss those CFDS.

 

Spreads not announced

As we already mentioned, this broker has not announced any typical spreads on its website, which we always view as a negative, because it shows that the broker is not transparent about its services and pricing.

 

 

Conclusion

 

UK Further Trading is not a broker we can recommend - it does not hold a legit forex broker license and has been exposed by the FCA as a clone. These are clear signs that clients of this broker are open to substantial risk. So, traders should direct themselves to better trading options to which we have linked throughout this review. 

 

Have in mind that only duly authorized forex brokers are allowed to offer their services on heavily regulated markets like the EU, the USA, Japan and Australia. And besides, you can feel safe about your investment only with licensed brokers, because of the strict regulatory regime they are subject to. That is why we suggest that you find a broker licensed by a reputable governmental agency like UK’s FCA, Australia’s ASIC of Cyprus’ CySEC.

 

 

>> Looking for a broker regulated in the UK? <<

 

 

And finally, here are the highlights of the present review of UK Further Trading:

 

Pros Cons
Trading on the MT5 with solid leverage No legit license, blacklisted by the FCA
Competitive spreads on demo Initial investment of $2000 required
  No CFDs on Stocks and crypto
  Spreads not announced

 

Latest news about UK Further Trading
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Traders` reviews for UK Further Trading

Spread

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Slippage

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Deposit/Withdraw

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