Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information & Regulation
Foptrade is allegedly a forex and CFD broker founded in 2020 and registered in China that claims to provide its clients with various tradable financial instruments with leverage up to 1:200 and floating spreads around 3 pips on the MetaTrader4, Mobile Trader, MT4 Webtrader and Tablet Trader trading platforms via four different live account types. Here is the home page of this brokers official site:
As for regulation, it has been verified that Foptrade currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.27/10. Please be aware of the risk.
Market Instruments
Foptrade advertises that it offers access to a wide range of trading instruments in financial markets, including forex, CFDs, equities, commodities and indices.
Account Types
Apart from free demo accounts, Foptrade claims to offer four types of trading accounts, namely Micro, Classic, Premium and VIP. However, it says nothing about the minimum initial deposit requirement to open an account.
Leverage
The leverage provided by Foptrade is capped at 1:200. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads
The spread for the EUR/USD pair at Foptrade is said to be 3 pips, while the industry average is just 1.5 pips.
Trading Platform Available
The platform available for trading at Foptrade is one of the most notable and preferred trading platforms the market offers - MetaTrader4, Mobile Trader, MT4 Webtrader and Tablet Trader. The MT4 is highly praised by traders and brokers alike due to its ease of use and great functionality, offering top-notch charting and flexible customization options. It is especially popular for its automated trading bots, a.k.a. Expert Advisors.
Deposit & Withdrawal
From the logos shown at the foot of the home page on Foptrades official website, we found that this broker seems to accept numerous means of deposit and withdrawal choices, consisting of Visa, Verified by Visa, MasterCard SecureCode, MasterCard and Maestro.
Customer Support
Foptrade‘s customer support can be reached Mon-Fri: 07:00 - 16:00 GMT by email: support@foptrade.com or send messages online to get in touch. However, this broker doesn’t disclose other more direct contact information like telephone numbers or the company address that most transparent brokers offer.
Pros & Cons
Frequently Asked Questions (FAQs)
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