Fair Trade Opts is a newly established financial trading platform that offers a variety of trading options including forex, indices, commodities, stocks, energy, and CFDs. Its official website was registered on September 22, 2024, with the domain fairtradeopts.live. Although the platform offers numerous trading choices, it also faces some issues regarding regulatory transparency, so investors should be cautious when considering using this platform.
Trading Instruments
According to the official website, the platform offers a wide range of trading instruments, including:
- Forex: Includes 180 spot forex pairs and 140 forward forex pairs, covering major, minor, and exotic currencies.
- Indices: Investors can trade multiple internationally known stock indices.
- Commodities: The platform offers trading in various commodities such as metals and energy.
- Stocks: Investors can trade a wide array of stocks from around the globe.
- CFDs: The platform supports various CFD trading, ideal for investors seeking higher leverage operations.
Trading Platforms
According to the website, the broker offers two main trading platforms:
- MetaTrader 4: This platform supports the trading of multiple financial instruments including forex and indices, with comprehensive technical analysis tools.
- TradingView: In addition to MetaTrader 4, the platform claims to offer TradingView, a popular financial market analysis tool known for its robust charting features and social trading characteristics, suitable for stocks, forex, cryptocurrencies, and more.
Client Support
The web-site says about mobile support and has downloadable applications for iOS and Android. For iOS there is an application in the AppStore but it is only MetaTrader 4 and no links could be found to TradingView. Users of Android have bigger problems with downloads because link to the Google Store does not open what may mean that there are other ways to download the application.
Regulatory Information
The platform claims to be regulated by the Australian Securities and Investments Commission (ASIC). However, no relevant information about the platform is found in the official regulatory databases. This suggests that the platform may not have attained regulatory approval from this commission, nor is it listed on other recognized regulatory bodies' websites such as the FCA or NFA.
Lack of effective regulation poses a potential risk to investors, particularly involving high-risk trades such as forex and CFDs. Investors should carefully consider this before deciding whether to invest.
Account Types and Leverage
The platform offers several account types:
- Beginner Account: Requires a minimum deposit of £500, with minimum expected profit of £3,500 and maximum expected profit of £5,000.
- Classic Account: Requires a minimum deposit of £5,000, with minimum expected profit of £45,000 and maximum expected profit of £50,000.
- Platinum Account: Requires a minimum deposit of £10,000, with minimum expected profit of £99,999.
Additionally, the platform offers high-leverage trading, with leverage up to 1:500. This means that investors can control a larger trade volume with a smaller capital outlay. However, high leverage entails high risk, and investors must have sufficient risk management capabilities.
Deposit and Withdrawal Methods
The platform provides several deposit methods including credit/debit cards, bank transfers, and bitcoin. For users depositing via bitcoin, the minimum deposit is £50. Although the platform does not charge fees for bitcoin deposits or withdrawals, a standard network fee of 0.0005 BTC is charged for fund transfers through the blockchain network.
Educational Resources
The platform provides some basic educational resources, including beginner forex trading courses, knowledge on stocks and CFDs, video tutorials, and e-books. While these resources can help beginners get started, the quality and depth of the content have not been verified, so investors should approach with caution.
Contact Information and Social Media
This platform has both an e-mail address and online customer service, so people should be able to get support at any moment of their need. Yet, there is some inconsistency here. The given contact e-mail on the website and on the "Contact Us" page are different: [email protected] and [email protected], respectively. That might give potential users a reason to question just how transparent and legitimate this platform is. Furthermore, the given contact number shows a similarity to many numbers that were already reported in several scam platforms: +44 7451284263.
Further, although the website mentions its socials, including Facebook, Instagram, YouTube, and Twitter, the click on such links redirects users to this website of the same platform and not to some official socials, which is a curiosity for an honest forex broker.
Website Traffic
According to the well-known website analytics tool Semrush, the platform's average monthly visits are under 10, indicating very low user activity and hardly any investor attention. Such low traffic could reflect the platform's poor recognition and exposure in the market, or potential operational issues.
Website Template and Design Issues
Further investigation reveals that the platform uses a website template very similar to several known scam platforms. For instance, indicespromarket.com and prffxtrding.online employ the same template, and many of these platforms have been exposed as scams. Such mass-produced website templates are often used by scam companies as a strategy to quickly set up and operate multiple seemingly legitimate financial platforms.
Risk Report
- Unclear Regulation: Although the platform claims to be regulated by ASIC, its registration information cannot be found in any official regulatory databases, indicating potential risks of lacking proper regulation.
- Inconsistent Contact Information: The discrepancy in email addresses provided on the website and contact page raises doubts about the platform's credibility.
- Suspicious Fraud Indicators: The website design closely resembles several known scam sites, suggesting the broker might not be a legitimate forex broker.
- Unclear Social Media and Affiliate Policies: The platform provides no formal social media accounts and lacks an affiliate policy, possibly indicating insufficient transparency.
Due to this, investors will be very wary of trading with Fair Trade Opts. Along with low activity, its resemblance to scam sites because of poor regulation raises quite a few concerns. It would be wise to study it well and consult some professional advice before making a decision regarding any kind of investment.
