Is FTE FX Scam or Legit Broker?
No, it is not safe to trade with FTE FX as it is an offshore broker. Ftefx is operated by Ace Capital Ltd, with registration number: 25324 BC 2019, St. Vincent and the Grenadines.
- St. Vincent and the Grenadines is notorious for its practically absent requirements and regulations. Due to the setup cost being low, it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as Binomo, JustForex, and more. You can read our detailed article about the risk of trading with brokers from St. Vincent and the Grenadines.
About FTE FX
| 🗺️ Registered in | St. Vincent and the Grenadines |
| 🗺️ Type of License | Offshore License |
| 🛡️ Is FTE FX safe to trade | No |
| 🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
| 🖥 Alternative Broker | FP Markets – licensed by ASIC in Australia |
What is FTE FX?
FTE FX offers traders the following 8 groups of financial instruments: Currency Pairs, Precious Metals CFD, Stock CFD, Commodity Futures CFD, Gold Instruments and CFDs on Crypto Futures. The broker also offers risk-free limitless Demo Accounts.
- According to the website, Ftefx is authorized and regulated in various jurisdictions. However, we couldn’t find any legal information about its authorization, which means the broker is unregulated and should be avoided.
- In addition, FTE FX has been blacklisted by Italian regulator CONSOB:
“Consob has ordered the black-out of 7 new websites that offer financial services illegally. The commission used the tools provided in the “growth decree”, which gave Consob the power to order internet service providers to block access from Italy to websites offering financial services without due authorisation.”
FTE FX Review Conclusion
We advise all investors and traders to avoid FTE FX and other brokers from St. Vincent and the Grenadines. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FXTM and XM.com.
FTE FX Update
Recently the FTE FX website remains inactive, meaning the broker mutes its trading offering and does not propose account openings. However, we still advise the traders to be alert and careful, in case they receive trading proposals.