Why FasTrading Raises Doubts?
If a company boasts 10 years of experience in trading in the Forex and CFD market but lacks reviews, this raises doubts about its honesty. An example could be FasTrading, which attempts to deceive traders but in reality has no grounds for trust. In this review, we will examine why caution is advised with this broker, what conditions it offers, and analyze the legal aspects of its operations.
Research About FasTrading’s Parent Company
When it comes to regulating and licensing the company, evaluating client reviews, and other aspects of broker management, information about FasTrading is insufficient.
According to claims, the broker is managed by TLM Global Services LTD., registered in Saint Vincent and the Grenadines (address: Suite 305, Griffith Corporate Centre P.O. Box 1510, Beachmont Kingstown). This range is accompanied by a bad reputation, as it is often frequented by scammers.
There is no public registry of companies in Saint Vincent and the Grenadines, making it difficult to verify the authenticity of the certificate provided by the broker (26034 BC 2020). However, an analysis of the numbers in the certificate confirms that FasTrading’s parent company started its operations only last year, contradicting the claimed 10 years of experience in the market.
There is no license for brokerage activities. Authoritative regulators responsible for the safety and reliability of financial services most likely have not approved FasTrading’s operations.
Details about the Domain Name and Support Contact
The registration of the FasTrading domain name occurred in 2015, but the recent updates suggest a recent project launch. The service similarweb.com did not contain information about the FasTrading website in December 2020.
Information about the founders and management is absent both on the website and external resources. This anonymity may indicate that the project was created by financial scammers avoiding accountability to affected traders.
Contacting Support and Registration
Reviews about the broker can reveal a lot about the quality of the support service. However, the quality of service at FasTrading cannot be assessed due to the lack of reviews and responses.
The contact channels listed are as follows:
- phones: +3726682422 (international), +85258080517 (Hong Kong), +442080687177 (United Kingdom), +97145734721 (UAE),
- e-mail: [email protected], [email protected], [email protected], [email protected],
- online chat,
- feedback form.
According to claims, support operates 24/6, but attempts to reach through other means were unsuccessful, as the company appears dubious. Being cautious, we chose not to utilize these channels due to the risk of disclosing personal information to scammers.
Account Types and Registration Scheme
The company offers trading in currencies in Forex and CFDs on various assets. The demo account seems to be created to attract beginners rather than educate about the platform.
Let’s look at the types of accounts:
- Basic. Initial deposit – $250. Account descriptions contain vague claims and promises of a 20% bonus,
- Bronze. Minimum top-up – $1,000. The account type differs by having a manager and a 40% bonus,
- Silver. Requires $5,000 to open. Specifications include a 60% bonus, 1-on-1 training, and more,
- Gold. Deposit from $10,000. Key features: 80% bonus, gold spreads, and personalized strategy,
- Platinum. Minimum contribution – $25,000. Includes a 100% bonus, platinum spreads, and exclusive access.
Reviews and FasTrading Fraud Scheme
Currently, no positive or negative reviews about FasTrading have been found. This is due to the recent emergence of the company in the market. We will continue to monitor updates and add reviews as soon as they appear.
The FasTrading fraud scheme is based on the use of a special platform that allows quick capture of client funds. Profits withdrawal is considered impossible, and the company is structured to avoid liability for client losses.
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Conclusions
FasTrading requires special caution! The lack of company reviews indicates its recent appearance. Considering the absence of a license, unclear registration, and unknown platform, it is recommended to avoid doing business with this company.
