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86fxtrade

United States|2-5 years|
Suspicious Regulatory License|Suspicious Scope of Business|High potential risk|

https://www.86fxtrade.com/

Website

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Contact

+1 2015283874
support@86fxtrade.com
https://www.86fxtrade.com/
1459 Java Lane Winnsboro SC South Carolin USA

Licenses

No valid regulatory information, please be aware of the risk!

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Contact number

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+1 2015283874

Broker Information

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Company Name

P24O Ltd.

Company Abbreviation

86fxtrade

Platform registered country and region

United States

Company website

Pyramid scheme complaint

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Warning: Low score, please stay away!
Previous Detection : 2024-03-29
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

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86fxtrade · Company Summary

Aspect Information
Company Name 86FXTrade
Registered Country/Area United States
Founded year 2022
Regulation Unregulated
Maximum Leverage Up to 1:100
Spreads Varies
Trading Platforms MetaTrader 5 (MT5)
Tradable assets Forex, cryptocurrencies, commodities
Account Types Weekly Account,Basic Account, Deluxe Account,Executive Account,Gold Account
Customer Support Email: support@86fxtrade.com
Deposit & Withdrawal Various methods available
Educational Resources Webinars, e-books

Overview of 86FXTrade

86FXTrade, a trading platform established in 2022, operates under the United States jurisdiction but notably functions without regulatory oversight. With a maximum leverage of up to 1:100, the platform offers varied spreads across its trading options. Utilizing the acclaimed MetaTrader 5 (MT5) platform, 86FXTrade caters to traders dealing in Forex, cryptocurrencies, and commodities, offering a diverse range of tradable assets. The platform provides several account types, including the Weekly Account, Basic Account, Deluxe Account, Executive Account, and Gold Account, tailored to meet different trading needs. Customer support is primarily accessible through email at support@86fxtrade.com, while the platform facilitates deposits and withdrawals via a variety of methods. As part of its educational resources, 86FXTrade offers webinars and e-books, aimed at enhancing traders' knowledge and skills in the dynamic world of trading.

Overview of 86FXTrade

Is 86fxtrade legit or a scam?

86FXTrade operates without regulation from any governing financial authority, raising substantial concerns regarding transparency and oversight within the exchange. Unregulated platforms lack the crucial oversight and legal protections afforded by regulatory bodies, significantly heightening the risk of encountering fraudulent activities, market manipulations, and security breaches. This absence of proper regulation not only poses challenges for users in addressing disputes but also creates a less transparent trading environment. As a result, evaluating the legitimacy and reliability of the exchange becomes notably challenging for users due to the lack of regulatory oversight.

Pros and Cons

Pros Cons
Range of tradable assets Lack of extensive customer support options
Multiple payment methods for convenience Absence of regulatory oversight
Accessible instant deposits Not available in some countries or regions
Easy to use trading platform Potential processing delays for certain payment methods
Diverse educational resources like webinars and e-books

Pros:

1.Range of Tradable Assets: 86FXTrade offers a diverse selection of tradable assets, including Forex, cryptocurrencies, commodities, and more. This variety allows traders to diversify their portfolios and explore various market opportunities.

2. Multiple Payment Methods for Convenience: The platform supports various payment options, providing flexibility for users to fund their accounts conveniently. Payment methods such as bank transfers, credit/debit cards, e-wallets, and cryptocurrencies offer diverse choices for depositing funds.

3. Accessible Instant Deposits: 86FXTrade allows for instant deposits with several payment methods. This ensures quick access to funds, enabling traders to capitalize on market opportunities promptly.

4. Easy-to-Use Trading Platform: The platform utilizes a user-friendly trading interface, such as MetaTrader 5 (MT5), known for its intuitive design and comprehensive tools. This accessibility caters to both novice and experienced traders, facilitating efficient navigation and trade execution.

5. Diverse Educational Resources: 86FXTrade offers various educational resources like webinars and e-books. These resources provide valuable insights, strategies, and market analysis, aiding traders in enhancing their trading knowledge and skills.

Cons:

1.Lack of Extensive Customer Support Options: The platform might have limited customer support channels, potentially impacting the accessibility of immediate assistance or resolutions for traders with queries or issues.

2. Absence of Regulatory Oversight: 86FXTrade operates without regulatory oversight from financial authorities. This absence of regulation may raise concerns about transparency and legal protections for users.

3. Not Available in Some Countries or Regions: The platform might not be accessible in certain geographic locations, limiting potential users based on their residency or country-specific restrictions.

4. Potential Processing Delays for Certain Payment Methods: Some payment methods might encounter processing delays, impacting the speed at which funds are deposited into trading accounts.

Market Instruments

86FXTrade presents an extensive range of trading assets, exceeding 70 instruments available for trading. This selection encompasses diverse financial products, including stocks, commodities, indices, and an array of currency pairs within the Forex market.

The platform's offering covers various asset classes, allowing users to engage in trading across different financial markets. It includes stocks, providing opportunities to invest in shares of publicly listed companies. Commodity trading allows users to participate in markets such as precious metals, energies, agricultural products, etc. Additionally, indices offer exposure to baskets of stocks representing a particular market or sector.

Furthermore, 86FXTrade provides access to a range of currency pairs within the Forex market. This includes major, minor, and exotic currency pairs, allowing users to speculate on the exchange rate movements between different global currencies.

In summary, 86FXTrade offers a diverse selection of trading instruments across multiple financial categories, enabling users to explore various market opportunities and diversify their investment portfolios.

Market Instruments

Account Types

86FXTrade offers a range of account types tailored to varying trader preferences and investment capacities.

The Weekly Account serves as the entry-level option, requiring a minimum deposit of $300. It provides a 10% deposit bonus and offers spreads starting at 1.9 pips. This account type ensures negative balance protection and supports scalping. Traders also benefit from daily signals and a financial plan to aid in their trading decisions.

Stepping up, the Basic Account demands a starting deposit of $1,000. With a 15% deposit bonus, it features tighter spreads beginning at 1.5 pips while maintaining negative balance protection, allowing for scalping strategies. Daily signals and a financial plan continue to support traders in this tier.

For those seeking more extensive benefits, the Deluxe Account requires a deposit of $2,000. It offers a 25% deposit bonus and narrower spreads from 1.2 pips. Like its predecessors, it assures negative balance protection, permits scalping, and includes daily signals and a financial plan.

Moving further, the Executive Account demands a minimum deposit of $3,000. It enhances the deposit bonus to 35% and maintains the competitive spreads of 1.2 pips. Similar to other tiers, it includes negative balance protection, allows scalping, and provides daily signals alongside a financial plan.

At the pinnacle stands the Gold Account, requiring a deposit of $4,000. It presents a substantial 50% deposit bonus, tight spreads starting at 1.2 pips, and consistent features like negative balance protection, scalping support, daily signals, and a comprehensive financial plan.

Each account tier progressively elevates benefits and bonuses while accommodating traders with different capital levels, providing options that align with varying trading styles and preferences.

Account Tier Weekly Account Basic Account Deluxe Account Executive Account Gold Account
Minimum Deposit $300 $1,000 $2,000 $3,000 $4,000
Deposit Bonus 10% 15% 25% 35% 50%
Spreads Starting at 1.9 pips Starting at 1.5 pips Starting at 1.2 pips Starting at 1.2 pips Starting at 1.2 pips
Negative Balance Protection Yes Yes Yes Yes Yes
Scalping Support Yes Yes Yes Yes Yes
Daily Signals Yes Yes Yes Yes Yes
Financial Plan Yes Yes Yes Yes Yes
Account Types

How to Open an Account?

Here are the four steps to commence trading with 86FXTrade:

  1. Registration:

  • Begin by registering on the 86FXTrade platform by providing your essential details through their registration form.

  1. Activation:

  • After completing the registration process, proceed to open your live trading account.

  • To activate your account, you'll need to verify your identity by uploading the necessary documents as requested by the platform. These typically include government-issued identification and proof of address.

3. Fund:

  • Once your account is activated, log in to your newly created account.

  • Navigate to the deposit section and select your preferred funding method.

  • Make a deposit into your trading account to fund it, ensuring it meets the minimum deposit requirement to start trading.

4. Trading:

  • With your account funded, access the trading platform provided by 86FXTrade.

  • Explore and utilize the extensive range of over 250 different trading tools and instruments available on the platform.

  • Begin executing trades based on your trading strategies and market analysis using the diverse tools and assets offered.

Following these four steps meticulously allows you to register, activate, fund, and start trading on the 86FXTrade platform, providing access to a wide array of trading tools and instruments for your investment endeavors.

How to Open an Account?
How to Open an Account?

Leverage

The maximum leverage offered by 86FXTrade is up to 1:100 for professional traders. This leverage ratio allows traders to control larger positions in the market compared to their invested capital. While higher leverage can potentially amplify profits, it's important to note that it also increases the level of risk involved in trading. Traders using higher leverage should exercise caution and implement effective risk management strategies to navigate the markets responsibly.

Spreads & Commissions

The spreads and commissions offered by 86FXTrade vary based on different account types:

Account Type Spreads
Weekly Starting at 1.9 pips
Basic Starting at 1.5 pips
Deluxe From 1.2 pips
Executive From 1.2 pips
Gold From 1.2 pips

86FXTrade charges no commission fees, suggesting that 86FXTrade operates primarily on spreads without separate commission charges for trades made within these account types.

Trading Platform

86FXTrade utilizes the MetaTrader 5 (MT5) trading platform, developed in 2000 by MetaQuotes Software Corporation. Renowned globally, MT5 has gained immense popularity among traders due to its robust features and comprehensive tools. This platform is highly dynamic and user-friendly, catering to the needs of both novice and experienced traders alike.

Offering a multitude of features, MT5 empowers traders with a powerful set of tools to analyze markets, execute trades, and manage positions effectively. It provides access to various technical indicators, customizable charts, and analytical tools, enabling traders to conduct in-depth market analysis. The platform's user-friendly interface facilitates seamless navigation and efficient trade execution.

The MT5 platform by 86FXTrade is available as a desktop application, ensuring accessibility and convenience for traders who prefer to execute their trades on their desktop computers. This version of the platform provides a stable and comprehensive environment for traders to engage in the financial markets, leveraging the advanced capabilities of MetaTrader 5 to enhance their trading experience.

Trading Platform

Deposit & Withdrawal

Payment Methods:

86FXTrade offers various payment methods to accommodate diverse preferences. These include bank transfers, credit/debit card payments (Visa, Mastercard), e-wallets (such as Webmoney, Neteller), and Bitcoin. Clients can select the method that suits them best for deposits and withdrawals.

Payment Fees:

86FXTrade does not charge any fees for deposits or withdrawals, regardless of the chosen payment method. This is a significant advantage over many other brokers, which often charge fees for certain methods or for exceeding a certain withdrawal amount.

Payment Processing Time:

The processing time for deposits and withdrawals at 86FXTrade is generally fast. Deposits are typically processed within minutes, while withdrawals can take 1-5 business days depending on the chosen method. This is faster than the industry average, which can be 3-7 business days for withdrawals.

Deposit & Withdrawal

Customer Support

86FXTrade offers customer support through multiple channels, including email and phone. Users can reach out to the support team via email at support@86fxtrade.com or by calling +1 2015283874. While the available information doesn't elaborate on additional support features, these contact options signify the accessibility of assistance for users seeking help, guidance, or resolution of queries. The provision of both email and phone support indicates a commitment to addressing user concerns and providing assistance promptly, enhancing the overall customer experience and ensuring accessible avenues for support and communication.

Educational Resources

The educational resources offered by 86FXTrade encompass a diverse range of tools and materials aimed at enhancing traders' knowledge and skills. The Education Center serves as a hub for learning, providing access to webinars, a calendar of upcoming webinars, and e-books.

Webinars offer interactive sessions where traders can learn from experts, discuss market trends, and refine their strategies. The calendar of webinars ensures easy scheduling and participation in relevant sessions. E-books offer comprehensive guides, enabling in-depth learning about various trading concepts and strategies. Analytics tools provide market insights and data-driven analysis, empowering traders to make informed decisions.

Additionally, traders receive valuable advice through expert insights and recommendations, enhancing their understanding of market dynamics and potential trading opportunities. These resources collectively support traders in expanding their knowledge base and improving their trading proficiency.

Educational Resources

Conclusion

86FXTrade presents a platform with distinct advantages, such as a diverse range of tradable assets, multiple convenient payment methods, accessible instant deposits, an easy-to-use trading interface, and diverse educational resources like webinars and e-books.

However, notable disadvantages include limited customer support options, the absence of regulatory oversight, potential processing delays for certain payments, and accessibility restrictions in specific regions. These drawbacks might impact user experience, transparency, and accessibility, warranting careful consideration for traders seeking a platform aligned with their preferences and requirements.

FAQs

Q: What trading assets are available on 86FXTrade?

A: 86FXTrade offers a diverse range of assets, including Forex, cryptocurrencies, commodities, and more.

Q: Are there specific minimum deposit requirements?

A: Yes, minimum deposit requirements vary based on account types and payment methods used.

Q: How can I contact 86FXTrade's customer support?

A: You can reach customer support via phone at +1 2015283874 or email at support@86fxtrade.com.

Q: Is 86FXTrade regulated by financial authorities?

A: No, 86FXTrade operates without regulatory oversight.

Q: What payment methods does 86FXTrade accept?

A: They accept various methods, including bank transfers, credit/debit cards, e-wallets, and cryptocurrencies.

Q: Does 86FXTrade offer educational resources?

A: Yes, they provide educational resources like webinars and e-books for traders to enhance their knowledge and skills.

News

Regulated in Many Countries? 86FXTRADE is Warned by MFSA

NewsRegulated in Many Countries? 86FXTRADE is Warned by MFSA

2023-01-24 11:00

Trading with a forex broker regulated by forex regulators gives investors a sense of security.

WikiFX
2023-01-24 11:00
News
Regulated in Many Countries? 86FXTRADE is Warned by MFSA
WikiFX Broker News: MFSA Warns 86FXTRADE

NewsWikiFX Broker News: MFSA Warns 86FXTRADE

2022-08-18 15:29

86FXTRADE has twelve different account types, which is unusual for a registered broker. Furthermore, the fraud promises incredible incentives ranging from 10% to 250%! If accurate, the massive transaction volume is inconceivable when combined with the 1:100 high leverage.

WikiFX
2022-08-18 15:29
News
WikiFX Broker News: MFSA Warns 86FXTRADE

User Reviews

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rtang
more than one year
Trying to get my money out from 86fxtrade was a nightmare. It's like they're not happy when you succeed in trading. I wanted to cash in my profits, but guess what? They grabbed 10% of my hard-earned money. When I asked their customer service about it, they couldn't give me a straight answer on why they took my cash. Seriously, steer clear of these guys. They act all friendly before you deposit, but once your money's in, everything goes south.
2024-01-09 18:03
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0
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Vntafer
more than one year
Unable to withdraw funds, it seems like a typical scam. As soon as I requested a withdrawal, they locked my account.
2023-12-22 12:14
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0
0
漂来峰
more than one year
It's really good that this company offers negative balance protection! For beginners in foreign exchange, it is easy to lose all their money by accident. A negative balance protection can serve as a safety belt.
2023-03-01 17:30
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