WikiFX, as an independent third-party information service platform, is dedicated to providing users with comprehensive and objective broker regulatory information services. WikiFX does not directly engage in any forex trading activities, nor does it offer any form of trading channel recommendations or investment advice. The ratings and evaluations of brokers by WikiFX are based on publicly available objective information and take into account the regulatory policy differences of various countries and regions. Broker ratings and evaluations are the core products of WikiFX, and we firmly oppose any commercial practices that may compromise their objectivity and fairness. We welcome supervision and suggestions from users worldwide. To report any concerns, please contact us: report@wikifx.com
您当前语言与浏览器默认语言不一致,是否切换?
切换
Global Broker Regulation & Inquiry App

Score

0123456789
.
0123456789
0123456789
/10

FCT

New Zealand|5-10 years|
New Zealand Financial Service Corporate Revoked|Suspicious Overrun|High potential risk|

http://www.fctnzl.com/cn/

Website

Rating Index

Contact

info_cn@fctnzl.com
http://www.fctnzl.com/cn/
2 Crummer Road Grey Lynn Auckland

Licenses

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

Single Core

1G

40G

Open Now

Contact number

Other ways of contact

Broker Information

More

Company Name

First Class Trade Limited

Abbreviation

FCT

Platform registered country and region

New Zealand

Company website

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

Warning: Low score, please stay away! 3
Previous Detection : 2024-10-09
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • New ZealandFSPR (license number: 524286) The regulatory status is abnormal, the official regulatory status is Revoked. Please be aware of the risk!
  • This broker exceeds the business scope regulated by New Zealand FSPR(license number: 524286)Financial Service Providers Register Non-Forex License. Please be aware of the risk!

WikiFX Verification

FCT · WikiFX Survey

Users who viewed FCT also viewed..

XM

9.04
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)
Official website

MiTRADE

8.48
Score
10-15 yearsRegulated in AustraliaMarket Making(MM)
Official website

CPT Markets

8.60
Score
10-15 yearsRegulated in United KingdomMarket Making(MM)
Official website

IronFX

7.84
Score
10-15 yearsRegulated in CyprusMarket Making(MM)
Official website

FCT · Company Summary

Aspect Information
Registered Country New Zealand
Founded Year 5-10 years
Company Name First Class Trade Limited
Regulation Regulatory status is revoked
Minimum Deposit $500
Maximum Leverage Up to 1:100
Spreads Minimum spread: 0.1 pips
Trading Platforms Meta Trader 5 and Meta Trader 4
Tradable Assets Stocks and shares, Forex, Commodities, Indices, Crypto Currencies, Bonds, Derivatives
Account Types Standard, Gold, Platinum, VIP, Islamic, Demo
Demo Account Available
Islamic Account Available
Customer Support Email: info_cn@fctnzl.com
Payment Methods Bank wire transfers, major credit cards
Educational Tools Not mentioned

Overview of FCT

FCT, also known as First Class Trade Limited, is a financial service corporation based in Auckland, New Zealand, with a history of 5-10 years. However, its current regulatory status is revoked, and the company lacks valid regulation. Potential clients should exercise caution due to associated risks. FCT offers various market instruments, including stocks and shares, Forex, commodities, indices, cryptocurrencies, bonds, and derivatives. Traders can speculate on price movements but should be aware of the inherent risks, especially in the volatile cryptocurrency market. The broker provides different account types with varying deposit requirements and trading conditions, along with two main trading platforms: Meta Trader 5 and Meta Trader 4. Negative reviews about FCT warn of withdrawal issues and potential fraudulent practices, urging users to stay away from the broker. Caution is advised when dealing with this company.

basic-info

Pros and Cons

FCT, or First Class Trade Limited, offers diverse market instruments and different account types, allowing leveraged trading with up to 1:100 leverage. The brokerage provides reliable trading platforms, a simple deposit/withdrawal process, and an Islamic Account option. However, caution is advised due to its revoked regulatory status and lack of valid regulation, negative reviews citing withdrawal issues and fraudulent practices, and limited customer support options. Additionally, key contact information is unavailable, and specific details on account benefits and trading costs are scarce. The VIP account requires a high minimum deposit of $100,000.

Pros Cons
Offers diverse market instruments Revoked regulatory status and lack of valid regulation
Different account types available Negative reviews highlighting withdrawal issues and fraudulent practices
Leverage of up to 1:100 Main website, email address, and phone number are not available
Provides two reliable trading platforms (Meta Trader 5 and Meta Trader 4) Limited information on specific features and benefits of each account type
Simple deposit and withdrawal process Limited customer support options (primarily through email)
Offers an Islamic Account High minimum deposit requirement for VIP account type ($100,000)
Provides Demo Account for practice trading Limited availability of specific numbers such as trading fees, spreads, and commissions

Is FCT Legit?

The Financial Service Corporate, FIRST CLASS TRADE LIMITED, based in Auckland, New Zealand, is currently operating with a revoked regulatory status. Its license, number 524286, was effective from November 27, 2016. The company's website, email address, and phone number are not available. Moreover, it has been verified that the broker currently lacks valid regulation, and the regulatory status is abnormal. As a result, potential clients should exercise caution due to the associated risks. The business scope of FIRST CLASS TRADE LIMITED exceeds the regulation of New Zealand's Financial Service Providers Register Non-Forex License, making it even more imperative to be wary of engaging with the institution.

regulation

Market Instruments

STOCKS AND SHARES

FIRST CLASS TRADE LIMITED offers various market instruments, including stocks and shares. These instruments represent ownership in publicly-traded companies and entitle the holders to a portion of the company's profits. Examples of stocks and shares offered by FCT could include shares of well-known companies like Apple Inc., Microsoft Corporation, or Coca-Cola Company. Additionally, they may provide access to stocks of emerging companies in different sectors and industries.

FOREX (CURRENCY TRADING)

FCT also provides Forex trading instruments, allowing clients to trade currency pairs from various countries. Forex trading involves the buying and selling of currencies in the foreign exchange market. Currency pairs like EUR/USD, GBP/JPY, and USD/JPY are commonly traded examples in the Forex market through FCT.

COMMODITIES

Market instruments at FCT encompass commodities trading, where clients can invest in various physical goods and raw materials. Examples of commodities include gold, silver, crude oil, and agricultural products like wheat or coffee. Traders can speculate on price movements.

INDICES

FCT offers trading instruments based on indices, which represent a group of stocks or assets from a specific market or sector. Examples include the S&P 500 index, which comprises 500 large-cap U.S. stocks, or the FTSE 100 index, representing the largest companies listed on the London Stock Exchange. Traders can gain exposure to broad market movements through index trading.

CRYPTO CURRENCIES

Cryptocurrencies have become increasingly popular as market instruments, and FCT may provide access to trading in digital currencies like Bitcoin, Ethereum, or Ripple. Cryptocurrencies operate on decentralized blockchain technology and offer traders potential opportunities for high volatility and speculative gains. It's important to note the inherent risks associated with the crypto market, given its volatility and regulatory uncertainties.

BONDS

FCT may offer market instruments in the form of bonds, which are debt securities issued by governments, corporations, or other entities. Bondholders lend money to the issuer in exchange for periodic interest payments and the return of the principal amount at maturity. Examples could include government bonds like U.S. Treasury bonds, corporate bonds from well-known companies, or municipal bonds issued by local governments.

DERIVATIVES

Market instruments at FCT might encompass derivatives, such as futures and options. Derivatives derive their value from an underlying asset, and traders can speculate on price movements without owning the asset itself. For instance, futures contracts may involve commodities like corn or crude oil, while options contracts could relate to stocks or currency pairs. Derivatives can serve as risk management tools or opportunities for speculative trading.

Pros Cons
Diverse range of market instruments including stocks, Forex, commodities, indices, cryptocurrencies, bonds, and derivatives Inherent risks associated with cryptocurrencies due to volatility and regulatory uncertainties
Access to well-known stocks of established companies and emerging companies in various sectors Limited availability of specific details on fees, spreads, and commissions
Exposure to broad market movements through index trading Revoked regulatory status and lack of valid regulation

Account Types

1. STANDARD ACCOUNT: The Standard Account offered by FCT is a basic account option with standard trading conditions. It provides access to various financial instruments and requires a minimum initial deposit of $500.

2. GOLD ACCOUNT: FCT's Gold Account is designed for traders with a higher risk appetite and greater capital. To open a Gold Account, a minimum deposit of $5,000 is required.

3. PLATINUM ACCOUNT: The Platinum Account is targeted at more seasoned and financially well-equipped traders. It demands a minimum deposit of $25,000.

4. VIP ACCOUNT: FCT's VIP Account is the most exclusive option, tailored for high-net-worth individuals and institutional clients. The minimum deposit requirement for this account type is set at $100,000. VIP clients receive personalized services, including priority customer support and special trading conditions, to cater to their specific needs and demands.

5. ISLAMIC ACCOUNT: FCT also offers an Islamic Account, adhering to Shariah principles. This account type is available to Muslim traders who seek interest-free trading. The Islamic Account shares similar features with the Standard Account but ensures compliance with Islamic financial regulations.

6. DEMO ACCOUNT: For traders looking to test FCT's trading platform and strategies without real money risk, the Demo Account is available. It provides virtual funds and replicates real market conditions.

Pros Cons
Access to various financial instruments Revoked regulatory status and lack of valid regulation
Different account types for various trader preferences Negative reviews highlighting potential withdrawal issues and fraud
Demo Account available for practice and testing High minimum deposit requirement for VIP account ($100,000)

Leverage

FIRST CLASS TRADE LIMITED offers a leverage of up to 1:100 for all account types.

leverage

Spreads & Commissions

FIRST CLASS TRADE LIMITED charges a maker fee of 0.05% and a taker fee of 0.07%. The minimum spread is 0.1 pips and the maximum spread is 2 pips. There is no commission charged for trading cryptocurrencies.

Minimum Deposit

The minimum deposit required by FCT is $500.

Deposit & Withdrawal

FCT offers a simple and straightforward deposit and withdrawal process for its clients. The minimum deposit amount is set at $200. Clients can fund their accounts using various methods, including bank wire transfers and major credit cards. Clients can request withdrawals with a minimum amount of $100.

Pros Cons
Popular funding methods available Minimum deposit requirement of $200
Minimum withdrawal amount of $100
No specific information on processing times and fees for transactions

Trading Platforms

FCT offers two main trading platforms: Meta Trader 5 and Meta Trader 4. The Meta Trader 5 platform is provided with a full license and is highly regarded for its functionality It caters to various trading needs and is considered an ideal choice for traders seeking a comprehensive trading experience. On the other hand, the Meta Trader 4 platform is also available with a full license. Although less advanced compared to Meta Trader 5, it remains a popular and reliable choice for traders looking for a straightforward trading solution.

trading-platform
Pros Cons
Provides two reliable trading platforms (Meta Trader 5 and Meta Trader 4) Limited information on specific features and benefits
Meta Trader 5 platform offers functionality Comparatively less advanced than Meta Trader 5
Both platforms are well-regarded for reliability Lack of specific comparison between the two platforms

Customer Support

FCT provides customer support primarily through email communication at info_cn@fctnzl.com.

Reviews

Negative reviews on WikiFX about FCT warn potential users of withdrawal issues and fraudulent practices. The broker's representatives allegedly misled users by pretending to be romantically involved to encourage them to deposit funds, but users faced difficulties in withdrawing their money. Caution is advised, and users are advised to stay away from the broker. (Review date: 2021-03-15)

reviews

Conclusion

In conclusion, First Class Trade Limited (FCT) is a financial service company based in Auckland, New Zealand, operating with a revoked regulatory status. The company offers various market instruments, including stocks, forex, commodities, indices, cryptocurrencies, bonds, and derivatives. FCT provides multiple account types, ranging from Standard to VIP and Islamic accounts, with varying minimum deposit requirements and trading conditions. The trading platforms offered are Meta Trader 5 and Meta Trader 4, known for their functionality and user-friendliness. However, caution is advised due to negative reviews mentioning withdrawal issues and potential fraudulent practices. Prospective clients should be wary of the associated risks given the company's current regulatory status and the absence of its main website and contact information.

FAQs

Q: Is FCT a legitimate company?

A: FCT, or FIRST CLASS TRADE LIMITED, is currently operating with a revoked regulatory status in New Zealand. Its license was effective from November 27, 2016, but it lacks valid regulation now. Potential clients should exercise caution due to associated risks.

Q: What market instruments does FCT offer?

A: FCT offers a range of market instruments, including stocks and shares, Forex (currency trading), commodities, indices, cryptocurrencies, bonds, and derivatives.

Q: What are the account types available at FCT?

A: FCT provides Standard, Gold, Platinum, VIP, Islamic, and Demo accounts to cater to different trading preferences and risk appetites.

Q: What is the leverage offered by FCT?

A: FCT offers a leverage of up to 1:100 for all account types.

Q: What are the minimum deposit requirements for FCT?

A: The minimum deposit required by FCT is $500 for most accounts and $200 for certain deposit methods.

Q: What trading platforms does FCT offer?

A: FCT provides two main trading platforms: Meta Trader 5 and Meta Trader 4.

Q: How can I contact FCT's customer support?

A: Customer support at FCT can be reached primarily through email communication at info_cn@fctnzl.com.

Q: Are there any negative reviews about FCT?

A: Negative reviews on WikiFX mention withdrawal issues and alleged fraudulent practices, cautioning users to be wary of the broker.

Q: Should I be cautious when dealing with FCT?

A: Yes, due to its revoked regulatory status and negative reviews, caution is advised when considering FCT as a trading partner.

Review 3

3 Comments
Write a comment
All(3) Latest Neutral(1) Exposure(2)
Write a comment
TOP

Chrome

Chrome extension

Global Forex Broker Regulatory Inquiry

Browse the forex broker websites and identify the legit and fraud brokers accurately

Install Now

Select Country/Region
  • Hong Kong

  • Taiwan

    tw.wikifx.com

  • United States

    us.wikifx.com

  • South Korea

    kr.wikifx.com

  • United Kingdom

    uk.wikifx.com

  • Japan

    jp.wikifx.com

  • Indonesia

    id.wikifx.com

  • Vietnam

    vn.wikifx.com

  • Australia

    au.wikifx.com

  • Singapore

    sg.wikifx.com

  • Thailand

    th.wikifx.com

  • Cyprus

    cy.wikifx.com

  • Germany

    de.wikifx.com

  • Russia

    ru.wikifx.com

  • Philippines

    ph.wikifx.com

  • New Zealand

    nz.wikifx.com

  • Ukraine

    ua.wikifx.com

  • India

    in.wikifx.com

  • France

    fr.wikifx.com

  • Spain

    es.wikifx.com

  • Portugal

    pt.wikifx.com

  • Malaysia

    my.wikifx.com

  • Nigeria

    ng.wikifx.com

  • Cambodia

    kh.wikifx.com

  • Italy

    it.wikifx.com

  • South Africa

    za.wikifx.com

  • Turkey

    tr.wikifx.com

  • Netherlands

    nl.wikifx.com

  • United Arab Emirates

    ae.wikifx.com

  • Colombia

    co.wikifx.com

  • Argentina

    ar.wikifx.com

  • Belarus

    by.wikifx.com

  • Ecuador

    ec.wikifx.com

  • Egypt

    eg.wikifx.com

  • Kazakhstan

    kz.wikifx.com

  • Morocco

    ma.wikifx.com

  • Mexico

    mx.wikifx.com

  • Peru

    pe.wikifx.com

  • Pakistan

    pk.wikifx.com

  • Tunisia

    tn.wikifx.com

  • Venezuela

    ve.wikifx.com

United States
※ The content of this website abides with local laws and regulations.
You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
consumer hotline:006531290538
Official Email:support@wikifx.com;
Mobile Phone Number:234 706 777 7762;61 449895363
Telegram:+60 103342306
Whatsapp:+852-6613 1970;
License or other information error corrections, please send the information to:qawikifx@gmail.com
Cooperation:fxeyevip@gmail.com