CTFX, a.k.a. CTFX Trade, was an offshore financial scheme that extorted money and vanished. Since we found numerous victims on social media and other forums looking for a way to recover their money, we’ve compiled this CTFX Trade review.
We’ve made a list with all the necessary information for those planning to take legal action against the broker. Let’s begin.
Is CTFX Trade a Scam Broker Without a License?
The most important thing when searching for the right broker is their license. If a brokerage firm is not regulated in your jurisdiction, you have slim chances of getting your money back through financial authorities. Therefore, we’ve checked about CTFX Trade regulation and, as you can guess, found nothing.
And so, we’ve checked Tier 1 databases, such as FCA, ASIC, BaFin, and CONSOB. Once again, our search yielded no results.
The final proof of our claims is the fact that this company offers leverage of 1:500 while onboarding EU citizens. According to the EU watchdog, ESMA, the leverage for retail traders cannot exceed 1:30 due to high risks.
Let’s see what contributed to this broker’s sudden disappearance.
CTFX Trade is an offshore broker from SVG without a license. After only one year, the brand shut down after being exposed as a scam by the Central Bank of Russia.
Our in-depth research and complaints we received show us that the majority of CTFX Trade victims come from:
Besides, the company’s reviews show that they targeted the UK and Australia. All in all, wherever you reside, you should watch out for financial swindlers and keep your money safe.
“I have lost well over a thousand pounds. The broker a jonthan miller is working with other fraudsters to steal as much as they can from you. After several months i was advised that my intial investment had made over 15,000 dollars the upshot of is they wanted anorher £3065 something i refused to do. Now they wont refund my money. Little better than common criminals avoid at all costs.” – Trustpilot Customer
If anything, this broker knows how to market things. The only CTFX Trade platform you can access is WebTrader, described as the preferred software that caters needs of all investors.
Anyone who has ever traded on a WebTrader with an unregulated broker knows this is just a nice story. In reality, the broker has nothing to offer. The software has pending orders, trading history, a couple of charts, and indicators.
This is nothing, unlike the browser-based platform you’d get with a legit broker using MT4, MT5, or cTrader. Each of the aforementioned platforms has a vast number of TAs. They support advanced features such as social trading and EAs and offer customizability as the main perk. That’s what caters needs of all investors.
Like with most brokers, you can trade in five markets, those being:
As mentioned, this is a pretty standard range, nothing you wouldn’t get with a regulated broker. What you’d get with them, however, is fund safety you don’t have with CTFX Trade.
You cannot use the CTFX Trade Demo account as it doesn’t exist. This company requires an initial deposit before allowing platform and account access.
Considering that the minimum deposit is pretty high, standing at $250, there’s no reason to risk. It should be noted that legit brokers often have Micro accounts starting with as low as $10 and mainly provide customers with risk-free accounts.
According to the CTFX Trade withdrawal policy, customers can use the following options:
They stated it takes five days on average to process the request. However, they also charge fees of 50 units for wire transfers and 25 units for card withdrawals. It’s not uncommon for scammers, as they don’t want to give you any money back.
Since the website is currently inactive, the best you can do is seek legal aid if you still have some money stuck with the firm.
If you were a victim of the CTFX Trade scam, it’s time to get your money back. Don’t let this swindler keep your hard-earned cash.
Contact Global Fraud Protection to book a free consultation, and we might be able to assist you with the issue. Our team of chargeback experts has years of experience dealing with bogus brokers and helping investors. Let’s work together!
CTFX Trade is an offshore broker without a license. If you were involved in this company’s scam, allow us to assist you with the recovery procedure.
No, CTFX Trade doesn’t offer a risk-free Demo account for its customers.
The minimum deposit this broker requires is $250 for the lowest account.
CTFX Trade is an offshore broker without a license. If you were involved in this company’s scam, allow us to assist you with the recovery procedure.
No, CTFX Trade doesn’t offer a risk-free Demo account for its customers.
The minimum deposit this broker requires is $250 for the lowest account.
The post CTFX Trade Review – Disappeared Following The Regulatory Warning appeared first on Global Fraud Protection.
