FT-Traders: Company Reliability Check
If an organization claims to have been successfully operating in the market for several years but has very few reviews, it raises suspicions about its reputation. The same situation applies to FT-Traders. According to the project’s data, services have been provided since 2017, and currently, there are over 195 thousand active trading accounts on their platform. So why are there so few reviews and expert evaluations of this company? Let’s explore the trading conditions on ft-traders.com and whether it is worth dealing with this organization.
Main Facts About FT-Traders: Inside Look
During the initial check of the company, it is always recommended to examine its legal documents. According to official information, FT-Traders has a Cypriot origin and was founded in 2017. However, given the absence of reviews and the website’s low rating, doubts arise that the company simply bought a domain with a long history and adapted it for itself. It’s interesting that the site started operating in 2015, which can be considered a recent event. Also, pay attention to the date of the last update of ft-traders.com – June 2020. Probably, this is when the active promotion of the project began.
Unfortunately, the statistics presented on the FT-Traders website cannot be trusted:
- 195,000 trading accounts,
- 435,000 daily transactions,
- over 150 financial instruments,
- 4 years in the market,
- $40 million daily turnover.
All this data seems to be an obvious lie since the company lacks a clear rating and reviews. Moreover, the claim of FT-Traders compliance with international legislation makes the information even more dubious.
Based on the information on the official site, the company is registered at: 50 Omonoias, Limassol, Cyprus (however, the actual company address raises doubts considering the difference in English spelling of Cyprus – Cypr**u**s and not Cypr**o**s).
Another aspect that caught our attention concerns the broker’s legal documents. The FT-Traders website mentions several regulators, but it is unclear how they are related to the company’s operations. Most likely, it is just an attempt to convince users of their reliability.
It’s also worth noting that the information about FT-Traders’ licenses is presented in a very questionable manner. Despite having permissions from commissions overseeing financial markets in various countries, the company clearly conceals its documents, making it difficult to verify their authenticity.
Ultimately, there is not enough information about FT-Traders, which raises serious doubts about its operations.
My experience with FT-Traders left much to be desired. Their promised high standards of customer service were a mere fantasy, as I was often left waiting hours for responses, despite being assured of a 24/7 customer support service. Furthermore, their fees were hidden in the fine print, leading to unexpected and substantial deductions from my profits. The trading conditions were far from ideal, with frequent lags and glitches in their platform undermining my trading activities and resulting in significant losses. Despite having a seemingly attractive interface, the broker’s actual performance was underwhelming and unreliable. I highly advise potential traders to approach FT-Traders with caution.
FT-Traders provides a generally satisfactory service for trading, with mixed reviews regarding broker conditions.