At the time of this writing, the broker’s website was unavailable. We assume the unscrupulous crook felt the heat from the authorities and decided to shut everything down and vanish.
This questionable brokerage firm is allegedly based in France. However, the platform is not registered with the local regulator, the Autorité des Marchés Financiers (AMF), a reputable European financial watchdog.
If you trade on this platform, or any other similar scheme, you “won’t be protected by the Financial Services Compensation Scheme (FSCS) if things go wrong. This means it’s unlikely you’d get your money back if the firm goes out of business,” according to the FCA. Guess what, the firm is out of business, and who knows how many people lost money because of it.
If you want a reliable provider, we suggest you find a licensed provider that operates under the supervision of a renowned financial market authority such as the FCA (UK), CySEC (Cyprus), FINMA (Switzerland), CFTC & NFA (US), ASIC (Australia), IIROC (Canada), etc.
The European Economic Area (EEA) is regulated by the esteemed European Securities and Markets Authority. In order to obtain a regulatory license in the EEA zone, brokerage firms must have a minimum operating capital of 730,000 EUR.
Furthermore, their clients must receive negative balance protection, a segregated bank account in a top-tier bank (e.g. UBS or Barclays), a safe leverage cap (1:30), and a compensation scheme contract worth up to 20,000 EUR.
Each of these countries has strict and tight financial market regulations in force, but Perfect-Trade simply didn’t care. Consequently, the FCA blacklisted the imposter and destroyed its scheme.
The financial swindler used to offer a rudimental and unpolished web trading platform with nothing but some basic tools such as charts, graphs, and indicators. The online trading terminal supported only Forex currency pairs and cryptocurrencies.
Although it may be suitable for beginners, experienced traders cannot benefit from such simple features. The main problem is that web platforms are susceptible to manipulation, which is why fraudsters use them.
For a pure trading experience, you should find a licensed provider that supports top-notch third-party software such as MetaTrader 4, MetaTrader 5, cTrader, or SiriX.
Perfect-Trade did not disclose any trading conditions. There was no information about the maximum leverage, spreads, and commissions charged per trading lot.
How is one supposed to trade without knowing what to expect?! The worst thing is that there was no risk-free demo account available, i.e. no way to check out the platform and conditions without depositing real money.
Every legitimate broker nowadays offers a free demo account with virtual funds for a trial period of 20-30 days so be sure to pick your provider wisely.
It seems that Perfect-Trade accepts payments exclusively through bank transfers and cryptocurrencies. The absence of additional funding methods such as credit/debit cards and e-wallets is a disadvantage.
The minimum deposit requirement is 50 USD but the fees are unknown. As for withdrawals, bank transfers usually take five to 10 business days and the fee starts from 25 USD. Crypto withdrawals are instant and the fees depend on the exchange.
If you deposited funds into your account through the bank, you can request a recall to reverse the transaction. But keep in mind that it can only work if the transaction has yet to go through. Reversing crypto payments requires professional assistance. We can guide you through the process so please book a consultation with us.
To sum up our review, Perfect-Trade is an anonymous trading scam allegedly based in France. The main targets were traders from the Netherlands, Nigeria, Malta, and Pakistan.
This platform was recently blacklisted by the UK’s FCA. In our review, we have put an emphasis on the importance of regulations and why it is better to trade under jurisdictions supervised by top-tier financial market watchdogs.
If you cannot withdraw your funds from this platform, please book a free consultation with Global Fraud Protection. We have a team of experts who can assist you in the fund recovery process and get your money back as soon as possible.
Book your free consultation today and get your money back.
Perfect-Trade is an anonymous Forex trading scam with a web platform and unknown trading conditions.
No, this platform is not regulated. On the contrary, the broker got blacklisted by the FCA a few days ago.
It is possible, of course. We recommend you book a consultation with us so we can go through your case.
The post Perfect-Trade Review: Why Is The Platform Out Of Business? appeared first on Global Fraud Protection.
