FTCA is an unlicensed Forex and CFD broker. There is actually very little information about FTCA on its website as we couldn’t find any company name, nor address or contact number.
FTCA presents itself as a forex and CFD brokerage authorized to operate in the UK. It also claims to offer access to the MetaTrader and two account types, as well as a demo one.
ftel-fx.com is considered not safe, as it is not regulated by top-tier financial authorities, like the CySEC in Europe, UK FCA and the Australian ASIC.
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During our review of FTCA broker, we established that FTCA does a very poor job at presenting its trading offer, and obviously tries to mislead investors it is a brand of a genuine and legitimate firm. What is worse, the UK’s FCA has exposed the broker as a clone, so our best advice is to stay away from FTCA, and always check carefully whether a broker is really licensed in the respective public registers.
During our check of FTCA broker they said that they are using the popular MT4 platform. This platform offers great charting capabilities, an astonishing environment for the development of custom tools (MQL) and automated trading systems (Expert Advisors) which the so called “marketplace” has to offer.
The problem is that we are not sure FTCA really supports this platform, as it is not freely downloadable from its website, and the broker does not offer demo accounts.
Minimum deposit: $1000
Leverage: Max 1:200
Assets: Forex, CFD, Indices, Oil & Gas, Precious Metals
Support MT4: Available
License: No license
Here are the Scam Expert Advisor, we have reviews of many Forex brokers and trading software. The number one item we check when reviewing a broker to see if they are a scam is a valid license.
The reason smart people online invest with a licensed broker, is because there are many investment scams online. By using a licensed and regulated broker, you know your money is safe, and the company is monitored by the governments regulators.
- FTCA is completely anonymous and is not a licensed broker
Considering the above, it is not surprising that the broker got under the radar of the FCA. The regulator flagged the FTCA as a clone firm, illegally using the details of a regulated company, and advised investors to avoid it.
Go for brokers who have a solid reputation and are backed by the trading community. What are you waiting for? . Go for brokers who will be available to you at all times. Accountable and affordable brokers are what you need to success. Time to make real and stable profits is now with credible brokers.
Review Verdict – FTCA is a Scam – Avoid!
Our best advise for you
How can funds be safe from a broker who is anonymous and claims to be based authorized? Why have they failed to inform members how they handle funds? Where is their base of operation? Which bank do they use to store funds deposited by members? Is it possible users are depositing funds to owner’s bank account? Segregation of accounts is also another big issue. FTCA is pooling funds in one account which is not acceptable.
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