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ELITECM INTERNATIONAL

Australia|2-5 years|
Appointed Representative(AR)|MT5 Full License|Regional Brokers|Australia Appointed Representative(AR) Revoked|Suspicious Overrun|Medium potential risk|

https://elitecmf.com/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

2
Server Name
ElitecmInternational-Demo MT5
Server Location United States

Contact

support@elitecmin.com
https://elitecmf.com/

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

ELITECM INTERNATIONAL PTY LTD

Company Abbreviation

ELITECM INTERNATIONAL

Platform registered country and region

Australia

Company website

Pyramid scheme complaint

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WikiFX Risk Alerts 4
Previous Detection : 2024-06-15
  • AustraliaASIC (license number: 001296415) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!
  • United StatesNFA (license number: 0551545) The regulatory status is abnormal, the official regulatory status is Unauthorized. Please be aware of the risk!
  • This broker exceeds the business scope regulated by United States NFA(license number: 0551545)National Futures Association-UNFX Non-Forex License. Please be aware of the risk!
  • The AustraliaASIC regulation (license number: 001297047) claimed by this broker is suspected to be clone. Please be aware of the risk!

WikiFX Verification

ELITECM INTERNATIONAL · WikiFX Survey

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ELITECM INTERNATIONAL · Company Summary

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

ELITECM INTERNATIONAL Review Summary in 10 Points
Founded 2021
Registered Country/Region Australia
Regulation Revoked ASIC (license No. 001296415), suspicious clone ASIC (license No. 001297047)
Market Instruments forex currency pairs, commodities, precious metals, futures, and cryptocurrencies
Demo Account no
Leverage 1:100-1:400
EUR/USD Spread N/A
Trading Platforms MT5
Minimum deposit N/A
Customer Support 24/7 email, online messaging

What is ELITECM INTERNATIONAL?

ELITECM INTERNATIONAL, a trading name of ELITECM INTERNATIONAL PTY LTD, is allegedly a multi-asset broker registered in Australia that claims to provide its clients with various tradable financial instruments including forex currency pairs, commodities, precious metals, futures, and cryptocurrencies, with flexible leverage up to 1:400 on the MT5 trading platform, as well as 24/7 customer support service. As for regulation, it has been verified that their ASIC licenses are either revoked or suspicious clone.

ELITECM INTERNATIONALs home page

In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

Pros & Cons

ELITECM INTERNATIONAL offers a wide range of trading instruments and multiple account types, providing traders with flexibility and choice. The availability of the popular MetaTrader 5 platform and 24/7 customer support channels are positive aspects that can enhance the trading experience.

However, the limited information on the website and the absence of demo accounts may pose challenges for traders in fully understanding the broker's offerings and testing their strategies. Additionally, the lack of specific regulatory licenses may raise concerns about the level of regulatory oversight.

Pros Cons
• Regulated • ASIC licenses are either revoked or suspicious clone
• Wide range of trading instruments available • Limited information available on the website
• Multiple account types to choose from • No demo accounts offered
• Flexible leverage options • Lack of transparency
• Support for the MetaTrader5
• 24/7 customer support through various channels

ELITECM INTERNATIONAL Alternative Brokers

    There are many alternative brokers to ELITECM INTERNATIONAL depending on the specific needs and preferences of the trader. Some popular options include:

    • Key Way Investments - offers a user-friendly trading experience with a wide range of assets and comprehensive customer support.

    • SBI FXTRADE - provides a reputable and regulated trading environment with competitive spreads and a variety of trading platforms.

    • Interstellar FX - offers innovative trading solutions, including social trading, with a focus on customer satisfaction and a wide range of financial instruments.

Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

Is ELITECM INTERNATIONAL Safe or Scam?

Based on the information provided, it is important to note that ELITECM INTERNATIONAL's ASIC license No. 001296415 is revoked, and ASIC license No. 001297047 is a suspicious clone, which raises concerns about the legitimacy and regulatory standing of the company.

Additionally, the limited information available on their website adds to the lack of transparency. Considering these factors, it is advisable to exercise caution when dealing with ELITECM INTERNATIONAL and carefully evaluate the risks associated with trading on an unregulated platform. It is recommended to seek out regulated and reputable brokers to ensure the safety of your funds and investments.

Market Instruments

ELITECM INTERNATIONAL claims to provide access to a diverse range of trading instruments in various financial markets. This includes popular assets such as forex currency pairs, commodities, precious metals, futures, and even cryptocurrencies. By offering a wide selection of instruments, ELITECM INTERNATIONAL aims to cater to the trading preferences of different investors and provide opportunities for diversification within their trading portfolios.

Accounts

ELITECM INTERNATIONAL offers two types of real trading accounts: the Classic Account (STP) and the Quantum Account (ECN). These account options allow traders to select the type of transaction that best suits their needs and preferences. The Classic Account operates on an STP (Straight Through Processing) model, which means that trades are executed directly in the market without intervention. On the other hand, the Quantum Account is an ECN (Electronic Communication Network) account, offering direct access to liquidity providers and potentially tighter spreads.

It's worth noting that ELITECM INTERNATIONAL only allows each customer to register one trading account, limiting the number of accounts per individual. And demo accounts are not available. However, it is important to consider that the regulatory status of the company is unclear, and traders should exercise caution when deciding to open an account with ELITECM INTERNATIONAL.

Leverage

ELITECM INTERNATIONAL provides flexible leverage options for its traders, ranging from 1:100 to 1:400. Leverage allows traders to control larger positions in the market with a smaller amount of capital. However, it's important to understand that while leverage can amplify potential profits, it also increases the risk of losses.

It's worth noting that regulatory authorities in different jurisdictions may impose limitations on leverage for client protection. For example, British and Australian brokers are typically limited to offering maximum leverage of 1:30, while US brokers are restricted to a maximum of 1:50. Traders should consider their risk tolerance and trading strategies when choosing the appropriate leverage level for their trades.

Trading Platforms

The platform available for trading at ELITECM INTERNATIONAL is one of the most notable and preferred trading platforms the market offers - MetaTrader5 for Windows, iOS and Android. MT5 is a powerful and advanced trading platform that offers a wide range of features and tools to enhance the trading experience.

With MT5, traders can execute trades, analyze market trends, use various technical indicators and charting tools, and implement automated trading strategies. The platform's user-friendly interface, customizable layouts, and real-time market data help traders make informed decisions and effectively manage their positions.

MT5

Whether traders prefer to trade on their desktop, mobile, or tablet devices, ELITECM INTERNATIONAL ensures that they have the flexibility to access the markets and monitor their trades anytime and anywhere using the reliable and feature-rich MT5 platform.

See the trading platform comparison table below:

Broker Trading Platforms
ELITECM INTERNATIONAL MT5
Key Way Investments MetaTrader 4, WebTrader
SBI FXTRADE FXTRADE
Interstellar FX MetaTrader 4

Please note that the information provided is based on the general availability of trading platforms for each broker and may be subject to change. It's always recommended to visit the official websites of the brokers for the most up-to-date and accurate information regarding their trading platforms.

Deposits & Withdrawals

ELITECM INTERNATIONAL offers a convenient and secure method for deposits and withdrawals through bank transfers. Traders can fund their trading accounts or withdraw their profits using this reliable payment option. Deposits and withdrawals via bank transfers typically take 1 to 5 working days to be processed, depending on the banks involved and any intermediary institutions. It's important for traders to note that additional processing times may apply, depending on the individual bank's policies and procedures.

ELITECM INTERNATIONAL minimum deposit vs other brokers

ELITECM INTERNATIONAL Most other
Minimum Deposit N/A $100

Customer Service

ELITECM INTERNATIONAL prides itself on providing reliable and accessible customer support to its clients. With a 24/7 availability, traders can reach out to the company's support team through various channels including Telegraph, WhatsApp, leaving messages online, and email. This multi-channel approach ensures that traders can choose their preferred method of communication for convenience.

Customer Service

Overall, ELITECM INTERNATIONAL's customer service is considered reliable and responsive, with various options available for traders to seek assistance.

Pros Cons
• 24/7 customer support availability • No live chat or phone support
• Multiple communication options • No FAQ or self-help resources

Note: These pros and cons are subjective and may vary depending on the individual's experience with ELITECM INTERNATIONAL's customer service.

Conclusion

In conclusion, ELITECM INTERNATIONAL offers a diverse range of trading instruments and account types, along with the popular MetaTrader 5 platform and 24/7 customer support. However, the limited information on their website and absence of demo accounts are areas of concern. The regulatory status of the broker is invalid, which may raise questions about the level of oversight and investor protection. Traders should exercise caution and conduct thorough research before considering ELITECM INTERNATIONAL as their trading broker.

Frequently Asked Questions (FAQs)

Q 1: Is ELITECM INTERNATIONAL regulated?
A 1: No. The ASIC license No. 001296415 is revoked, and the ASIC license No. 001297047 is a suspicious clone.
Q 2: Does ELITECM INTERNATIONAL offer the industry leading MT4 & MT5?
A 2: Yes. It supports MT5.
Q 3: Is ELITECM INTERNATIONAL a good broker for beginners?
A 3: No. It is not a good choice for beginners. Not only because of its unregulated condition, but also because of its lack of transparency.

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Am
more than one year
With many convenient services and quality products, ELITECM INTERNATIONAL attracts me a lot. And I also like their 24/7 support, low spreads, flexible leverage and MT5 platform!
2022-12-13 18:00
Reply
0
0
FX1119740184
more than one year
It trading software is not easy to use at all, and it took me a long time to understand its terrible technical indicators! This is the worst trading software I have ever seen, trash!
2022-12-09 17:15
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