Editor’s Verdict
Overview
Review
Headquarters | Marshall Islands |
|---|---|
Year Established | 2017 |
Execution Type(s) | Market Maker |
US Persons Accepted? |
FTO Capital, Financials Trading Online is a Forex broker that is incorporated in the Republic of the Marshall Islands and their office is located in the UK. The brokerage seems to have opened in March of 2017 and remains unlicensed and unregulated as of the time of this FTO review, which is a very good reason to avoid trading with this broker. The website is available in English and Russian.
This brokerage offers customers a Webtrader platform and MetaTrader 4. They claim that their Webtrader platform is quick and easy to use, with technical analysis, one click trading, and the ability to observe more experienced traders – all services offered by other, regulated brokers as well. The website offers use of a notification system called Guardian Angel for those who wish to monitor their investments via notification messages. The notification system also sends users volatility indicators and a stop loss calculator. This service is free of charge to clients of FTO Capital.
FTO Capital clients can trade Forex, stock, CFDs, and several commodities, including gold and silver. Each asset can be traded from three different account types. The accounts are called Silver, Gold and Platinum. Each account type has a different spread and a different amount of available leverage. This firm also offers an Islamic Trading Account at each of these levels. The minimum deposit necessary to become a client of FTO Capital is $250, which is a higher minimum deposit than most Forex brokers require.
The brokerage claims to have customer support available by phone and email, with a response time with 24 hours. We emailed the company and have been waiting over three months for a reply (at the time of this FTO Capital review), so we question whether or not the company’s promises (or services at all) are reliable.
The FAQ sheet on FTO Capital’s website gives very brief answers and is severely lacking compared to the more thorough resources offered by other brokers. Specifically, we found the information regarding the bonus system and the withdrawal requirements to be unclear with insufficient information to understand completely. As for trading education, FTO offers articles and eBooks that are designed to assist traders with their strategies and implementation.
During this FTO Capital review we also took a moment to read comments about the broker online. While these comments may not be entirely reliable, there is certainly a feeling of concern when the majority of traders complained about FTO. Most of the complaints were about withdrawal and the lack of ability to get your money out back from the brokerage. This is major concern especially when dealing with an unregulated brokerage because there is no one to complain to that can help you retrieve your funds. When it comes to choosing a Forex brokerage, we recommend not to judge a brokerage by its website alone. The FTO Capital website may look professional, but there are many signs to indicate that the brokerage is anything but. Be very wary and do your homework before investing anything with FTO Capital.