August 29, 2020

FTO Capital Review

Overview:

FTO is also known as Financial Trading Online provides forex brokerage services on three trading accounts. Higher maximum leverages and average spreads can be seen in the website presentation. However, the required minimum deposit for each account types is missing. The broker is situated in the Marshall Islands and does not have a valid licensing to perform trading business. In this FTO Capital review, we are going to share possible benefits and drawbacks of this broker. Please do not miss a line given below.

About FTO Capital:

The provided three trading account types are Silver, Gold and Platinum. However, the maximum leverages ranging from 1:200, 1:400, and 1:500 are offered on these three accounts respectively. The spreads of 3 pips, 2.5 pips and 2 pips are also offered. All the accounts have their Islamic version as well to provide Swap-Free trading. A company called Nano Marketing LTD addressed in the Marshall Islands is the owner of the brand FTO Capital. For those who are not aware of the overseas territory of the Marshall Islands, it is an unregulated territory and brokers operational from here do not have a valid license to provide trading facilities.

The minimum deposit required for the basic account is $250. It is according to the market average, nevertheless considering the overall presentation and unlicensed nature of the brokers it is alarming. The spreads of 2 pips on eurodollar fx pair are not competitive.  The leverages above 1:200 is on the higher side and they are helpful only in aggressive trading. Nonetheless, higher leverages lead to higher risk of loss. These higher leverages are banned in strictly regulated trading markets like America, Australian, and EU.

Furthermore, the broker provides trading on the most trusted and used trading platform MetaTrader. It is the world leader among all other trading platforms available in the market. It also features advanced optimisation like Expert Advice, Multi-Account Management, Charts, and many more. The payment options at FTO Capital includes credit or debit cards, electronic wallets like Skrill, Neteller and more. However, bank wire transfer is not available at this broker. It will restrict many traders to trade with the broker.

Is FTO Capital scam or legit?

The broker is operational from the Marshall Islands a territory known for the hub of scam brokers. It is not regulated and possess higher scam risk. The trading environment is not feasible for many traders. Its advantages are MetaTrader and acceptable minimum deposits. However, unregulated nature is it’s a major drawback. Therefore, it is a potential Australian trading scam.