Crypto Future Traders – Is it the Right Choice?

Crypto Future Traders

Why do people trade in the financial markets? It is obviously with the goal of making money, but this is easier said than done. While the process of accessing and engaging with the markets appears to be simple, there are a lot of things that have to be factored in. Perhaps, the most important of them all is the brokerage you choose for your trading needs. As they are the ones that unlock the doors, it is understood that you need a top-notch brokerage. But, this Crypto Future Traders review shows that not all companies in the market are up to the mark.

Considering that there is a huge amount of money involved in the financial markets, it is not surprising that there are criminals operating in the space as well. Obviously, their goal is to take your money and their favorite tactic is to present themselves as brokers in order to do so. Many people are so eager to start trading online that they do not pay attention to the broker they choose and have to suffer the consequences when they get conned.

No one wants to have to deal with such a scenario, but the only way to avoid it is by taking some time to check out a company closely. Before making any commitments to a broker, you need to take a close look at its offerings to ensure everything is up to the mark. These days, anyone can make promises over the internet, but actually living up to them is a whole other story. Hence, checking closely can save you from making a bad decision.

One of the brokers you will come across is Crypto Future Traders, which presents itself as a lucrative brokerage that gives you access to forex, cryptocurrencies and other assets. But, is it really what it pretends to be? A close look will reveal a different story. What will you find? Take a look below.

License and regulation

When you want to choose the right broker, your priority should be to find a company that has a license to provide its services and is properly regulated. This will depend on where it is based and reassures you that you are dealing with a quality and reliable broker. Licensed and regulated companies offer transparent, fair and competitive services and can also offer you safety that you cannot find elsewhere.

The problem is that even scam operators also claim to be licensed and regulated, so you cannot just take the word of the broker. You have to verify their claim in order to ensure that you make the right choice. A look at Crypto Future Traders shows that the company claims to be registered in the United States. It also claims to be licensed in Seychelles and regulated by the regulatory body in Vanuatu.

These are multiple claims and you need to break them down to verify whether Crypto Future Traders is truly licensed and regulated or not. First off, to be registered in the United States, the broker needs to be licensed by the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). But, you will not find the company listed in their online register. This first claim turns out to be false.

Secondly, you can check the online register of the Financial Services Authority (FSA) in Seychelles and the Vanuatu Financial Services Commission (VFSC). Neither of them has Crypto Future Traders listed and this confirms that the brokerage is lying about its licensing and regulation. This means the company cannot be trusted.

Trading software

The trading software that online brokers provide is used for opening and closing trades in the financial markets. It also provides the tools needed for trading, which makes it very important. There are different types of trading platforms that can be found and their features and tools vary. It is understood that traders want to have the best platform for trading in order to maximize their performance. But, you will be disappointed with what you find at Crypto Future Traders.

As a matter of fact, you will discover that Crypto Future Traders does not seem to offer an actual trading platform. They have some sort of chart or user dashboard that does not allow you to open or close trades. Its purpose is primarily to create an illusion of a trading platform and nothing more, which makes it downright shady. Legitimate companies, on the other hand, offer conventional and advanced trading software like the MT5 to cater to their clients.

Trading conditions

The trading conditions of a brokerage, which comprise of the spreads and leverage they offer, are also an essential factor that you should consider when choosing a platform. This is because these aspects have a direct impact on how much profits you will be able to make at the end of the day.

When you try to check out the trading conditions that Crypto Future Traders offers, you will be in for further disappointment. This is because they have no trading conditions available, which makes sense given the fact that they have no trading software. Since you cannot do any trading, there is no point in what trading conditions are available.

Deposits and withdrawals

Another important factor that you need to consider when going over a brokerage is their deposits and withdrawals. You want to be able to make your payments easily and this depends on the payment methods that are offered by the broker. A check of the payment options at Crypto Future Traders shows that they only support crypto assets for deposits and withdrawals.

This is a cause for concern because crypto payments are final and there can be no reversal. This means that you cannot file for a chargeback in case of a problem and your funds will be stuck. It is because of this aspect that scam brokers offer crypto payments.

Final Verdict

After taking the problems with Crypto Future Traders into account, you can determine that it is not the right choice for anyone.