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First Trade Financial
Suspected Fraud
Suspected Fraud

First Trade Financial

🇲🇲
  • Forex
  • Brokerage
1-2 years
Website

Current Rating

1.48

Industry Tier

E

Profile

First Trade Financial is a forex broker established in 2023, mainly providing trading services in forex, indices, stocks, precious metals, commodities, and energy for investors. The company's official website supports English, Simplified Chinese, Traditional Chinese, Spanish, Japanese, and a total of eleven languages. The official website claims to be regulated by various institutions such as the US NFA, the Australian ASIC, Cyprus CySEC, and the Belize FSC.

Registration and Regulatory Information:

The official website of First Trade Financial does not disclose where and when the company was registered and established. It claims to be regulated by different institutions such as the US NFA, the Australian ASIC, Cyprus CySEC, and the Belize FSC. After verification, the regulatory information is accurate, but the regulatory effectiveness is poor.

The US NFA's registration information and registration number can indeed be found, but this institution is not a member of the NFA and is not regulated by the NFA.

The registration and regulatory information of the Australian ASIC can be found, and this information is true.

The regulatory registration information of Cyprus CySEC is true, but the approved domain list does not include this website's domain, meaning that this website is not regulated by Cyprus CySEC.

The institution claims to be regulated by the Belize FSC, but no relevant information could be found after searching.
A Whois website search reveals that the official website was registered on 2023-11-21, less than half a year ago.

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Account Types and Registration:

First Trade Financial does not offer different types of accounts for users to choose from, and it has not disclosed specific parameters for these account types, only revealing that the minimum spread is 0.6 and the maximum leverage is 1:1000. The lack of specific details may cause information asymmetry and pose significant safety risks to users.

It is important to note that clicking on opening an account or registering on the official website redirects users to another website where registration takes place, requiring a lot of information, posing significant financial risks and risks of information leakage.

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Leverage Ratio:

First Trade Financial has disclosed a maximum leverage of 1:1000 on its official website, but has not disclosed the conditions for using leverage and its applicable scenarios.

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Trading Products:

The official website of First Trade Financial shows that the company offers a variety of products for investment, including forex, indices, stocks, precious metals, commodities, and energy, offering diverse trading forms for investors to choose their preferred product types.

Apart from stocks, other types of products have detailed introductions and real-time data available, and the product detail pages provide some data and information for reference.

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Deposits and Withdrawals:

First Trade Financial does not disclose any information related to deposits and withdrawals on its official website, including the methods of deposit and withdrawal, whether there are any fees involved, and the timing of transactions. It only mentions a recommended deposit amount of 5,000 US dollars.

Trading Platform:

First Trade Financial uses the MT5 trading platform and offers versions for PC, Android, and iOS, providing different options for various users.

It is important to note that the links for Android and iOS versions cannot be opened normally and cannot be downloaded.

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Customer Support:

The official website of First Trade Financial only provides an email address as a means of contact and does not offer offline addresses, phone numbers, or other customer support services.

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Conclusion:

As a forex broker, First Trade Financial offers a rich variety of products for trading and provides most of the detailed data and introduction required for these products. However, the broker falls short in multiple important aspects such as corporate background, registration and regulatory information, deposit and withdrawal related information, and contact details. For investors interested in trading with First Trade Financial, conducting thorough research and risk assessment is crucial, as using this platform may pose significant financial risks.

Currently, First Trade Financial is labeled as "suspected of scam" on the Traderknows.

User Reviews

1.48

Rated by 0 people

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FAQ About First Trade Financial

01

What is the official website of First Trade Financial?

The official website of First Trade Financial is https://www.firsttradefin.com.

02

Is First Trade Financial legit or scam?

First Trade Financial is currently listed as Suspected Fraud on TraderKnows.

03

What kind of company is First Trade Financial?

First Trade Financial is a Forex, Brokerage company.

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