CloudtradesFX is a platform offering CFD trading with products including forex, stocks, indices, futures, precious metals, energy, and cryptocurrencies. A Whois search shows that the platform's domain name was registered on February 23, 2024.
Company Background
The official website claims it is a UK registered company, with registration number 11994686, and states it has 23 years of financial trading experience. However, their "ABOUT US" page claims the company was founded in Australia in 2013, a clear contradiction.
Furthermore, a UK Companies House check shows that company number 11994686 actually belongs to ACE COINS LTD, which was dissolved in 2021.
Analysis of Registration Certificate Authenticity
The CloudtradesFX website displays an international business company registration certificate, claiming it was registered in the US in 2017. However, there are several issues with this certificate:
- Legal Basis Issue
The certificate mentions the "International Business Companies Act," which is not a real US law. Such acts are common in offshore jurisdictions (like Saint Vincent and the Grenadines), not under US law, making the statement misleading. - Institution Name Issue
The "Registrar of International Business Companies" in the certificate does not exist in the US. Company registrations in the US are managed by state Secretary of State offices, with no national "International Business Companies Registry." - Document Design Issue
The certificate features the "Seal of the President of the United States," exclusive to presidential documents and not used in company registrations. The design, stamp position, and overall layout do not conform to the typical standards of US official documents, suggesting forgery. - Verification Lack
The registration number "RC00177303USA" and tax payment number "01567015096" cannot be found in US official databases. The tax number format doesn't match common US tax identifier formats (like EIN). - Time and Logic Inconsistencies
The certificate lists a formation date of August 17, 2017, without specifying the registration location. This date also conflicts with the domain registration date (February 23, 2024), further exposing the unreliability of the registration information.
Platform Services
Trading Products and Account Setup
CloudtradesFX offers CFDs on forex, stocks, indices, futures, precious metals, energy, and cryptocurrencies. However, its trading is limited to a self-developed web platform, which is less functional compared to popular platforms like MT4 and MT5.
The platform offers five account types as follows:
- Starter Package
Spreads start at 1.9 pips, leverage ratio 1:0, suitable for short and long-term investing, supports hedging, live charts, and referral rewards. - Bronze Package
Spreads start at 1.7 pips, leverage ratio 1:5, suitable for short and long-term investing, supports hedging, live charts, and referral rewards. - Silver Package
Spreads start at 1.4 pips, leverage ratio 1:10, suitable for short and long-term investing, supports hedging, live charts, and referral rewards. - Gold Package
Spreads start at 1.1 pips, leverage ratio 1:15, suitable for long-term investing, supports hedging, live charts, and referral rewards. - Premium Package
Spreads start at 0.9 pips, leverage ratio 1:20, suitable for long-term investing, supports hedging, live charts, and referral rewards.
Note that some account leverage ratios (e.g., "1:0") do not adhere to industry norms and may mislead users.
Deposits, Withdrawals, and Broker Policies
CloudtradesFX does not disclose its supported deposit and withdrawal methods, processing times, or related fees. This lack of transparency can threaten the security of users' funds.
Additionally, the platform does not offer any details on cooperation broker policies, commissions, or conditions.
Regulation Information Analysis
The official website claims to be regulated by the Australian ASIC and Vanuatu FSC, specifically:
- Australian ASIC Regulation
The platform claims its regulated entity is CloudtradesFX Australia Pty Ltd, with regulation number 436416. However, ASIC's website shows 436416 is actually associated with TRADEMAX AUSTRALIA LIMITED, an affiliate of the broker TMGM. - Vanuatu FSC Regulation
The platform claims its Vanuatu regulated entity is Trademax Global Limited. Upon checking, this entity is actually an affiliate of the broker TMGM.
Company Address and Team Information
The platform claims its company address is at 71-75 Shelton Street, London, UK. However, UK Companies House search shows no company related to CloudtradesFX is registered at this address.
Moreover, the platform has disclosed no team members' information, nor can any related information be found through public channels.
Website Design and Scam Characteristics
CloudtradesFX uses the same website template as multiple known scam platforms (such as TrustVest Capital, Elite Equity Pulse, and Prestige Capital Strategies). This mass-produced template design is a typical scam characteristic, misleading users.
Website Traffic and Brand Exposure
According to Semrush data, CloudtradesFX website's average monthly visits are fewer than 100, with virtually no user engagement. Furthermore, no user reviews or news reports can be found in public media, indicating extremely low brand recognition.
Customer Support and Educational Resources
The platform's customer support is limited to the following three email addresses:
Additionally, the platform lacks accounts on major social media like LinkedIn, Facebook, Twitter, and offers no educational trading resources, reflecting very limited customer support services.
Risk Report
- Questionable Company Background
Conflicting claims about founding time, company registration, and historical content, with domain registration dates further exposing inaccuracy. - Unreliable Registration Details
Numerous incongruities in the registration certificate content; registration and tax numbers are unverifiable; the certificate appears forged. - False Regulatory Claims
Claims of ASIC and FSC regulation are inconsistent with verified data. - Issues with Trading Platform and Accounts
Restricted to web-based trading, with misleading account leverage ratios. - Opaque Deposit/Withdrawal Information
Lacks transparency on deposit/withdrawal details and fees, compromising user fund security. - Low Brand and Traffic Exposure
Minimal website traffic, absent user reviews, or news stories. - Apparent Scam Characteristics
Use of same template as multiple known scam platforms increases scam suspicions. - Lack of Customer Support and Educational Resources
Limited communication options, absence from social media, no educational resources provided.
Conclusion
CloudtradesFX faces serious issues with its company background, registration information, regulatory claims, and service transparency. Its registration certificate is highly dubious, trading platform and account configuration have obvious drawbacks, presenting a high risk of fraud. Investors are advised to remain vigilant to avoid financial loss.
