Future bots trade Review – The Troubling Things about the Broker

Future bots trade Review

Choosing an online brokerage is the first step to start trading in the financial markets, but it is not one that you can make in a matter of minutes. It may sound very simple to just search for brokers on Google and open an account with the first one you find. But, you have to remember that this the internet and you cannot just pick a company out of a hat. You need to assess a broker before you even think about opening an account with them, such as going through this Future bots trade review.

Many people do not want to waste their time looking through different companies and just prefer to go with the first one that seems suitable. But, not willing to do so can lead to difficulties down the road. You may realize later that the company is not a good fit for you and be forced to start from scratch again. It could also get worse, as you could end up with a scam platform. These are not a new concept when it comes to the internet.

As a matter of fact, they are quite rife in the world of online trading because of the great deal of money involved. You can find thousands of stories of people who have lost their money to fraudulent and fake brokerages. Unless you want to add to these stories, it is best for you to restrain yourself and invest some effort and time into assessing the brokerage you are considering. This can reward you down the road in the form of a smooth and profitable trading experience.

You can choose a trustworthy brokerage in this manner and steer clear of those like Future bots trade. This is because when you assess this company, you will find some troublesome things about it. What are they? You can find the details as follows.

The lie about its location

The first troublesome thing that you will discover about Future bots trade is that it is lying about where it is based. Checking where a company is located is a must because this enables you to check if they have a license and are regulated. Opting for a licensed and regulated platform can give you peace of mind because such companies offer you fair and transparent services, along with safety of funds.

Moreover, you can rest assured that they can be held accountable, which cannot be said for unlicensed and unregulated platforms. When you check out the Future bots trade website to know where it is based, you will find an address that puts it in the United States. This would be quite impressive because the US is a well-regulated jurisdiction, so if a company is operating from there, then it can offer you excellent services.

The regulatory authorities in the US are the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). When you check their online register for Future bots trade, you will discover that you are dealing with a fraud. This is because the brokerage is not listed anywhere, which means it cannot be operating from the US at all. Even if it is, it is doing so illegally and this is also troublesome.

The KYC procedure

It is a fact that most licensed and regulated brokerages would expect you to comply with the KYC (Know-Your-Customer) policy. This involves providing the company with valid identification to verify your account. It is a security measure that is meant to eliminate fake and fraudulent accounts from a platform. So, if Future bots trade wants you to comply with this policy, then it should only be reassuring.

Unfortunately, this is not the case because Future bots trade is trying to blackmail you into complying with this policy. They want you to provide them with personal information for accessing their trading software and there is no demo account available either. Why would you provide your information when you are not even sure if you want to sign up with them? This is downright manipulation and it is not something that a legitimate brokerage would ever do.

Furthermore, it means that you cannot assess the trading software they are offering and this is also troubling. You cannot just accept their word when they say they have a reliable web-based platform. It is the most important feature of a broker and you want to check it beforehand to know that it has the right tools and features. But, Future bots trade does not let you do that and it does not offer the MT4, or the MT5 trading software, which are some of the best trading solutions in the market.

The obscene leverage ratios

Leverage is a vital aspect of online trading because it can give you a lot of flexibility during the trading process. It allows you to make bigger trades than your capital allows and this can mean higher profits. But, it can also translate into higher losses, so too much leverage can be quite dangerous. Keeping this in mind, many regulatory authorities have capped the amount of leverage that can be offered to retail traders.

Brokers operating in the United States are not permitted to offer leverage more than 1:50. Yet, Future bots trade claims to be based in the US and is offering leverage ratios as high as 1:1000. Such ratios are downright obscene and should immediately tell you that you are not dealing with a genuine or sincere broker. Plus, it confirms that Future bots trade is lying about where it is located.

No information about payment methods

Another troubling fact that you will discover about Future bots trade is that you cannot find any information about its payment methods. Since it does not let you register on the platform without KYC, you cannot know how you will be able to deposit money. This is a problem because you want to know if you can get a chargeback if there is any problem in the future, but there are no details given.

Concluding Thoughts

These troubling things about Future bots trade are enough to make you reconsider your decision of choosing this platform.