Information on Forex Trading
When you are seeking essential details about the company on their website, as well as in the client agreement, you might notice the absence of information regarding the founder, registration, licensing, and jurisdiction.
A certificate is displayed from the Commission for the Control and Regulation of Financial Markets (CCRFM) under number JZ10098. Nonetheless, the jurisdiction of the issuing authority remains unspecified, and this document is not a substitute for a license.
The contact page provides an email address, [email protected], for communication, while contact phone numbers or office addresses are not listed.
The company’s website is available in two versions: English and Russian. The Russian version contains grammatical errors that are characteristic of machine translation.
Registration Process at The Forex. Cash
The registration process follows a standard procedure: filling out a dedicated form and agreeing to the trading conditions.
To register, you will be required to input the following information:
- Full name,
- Email address,
- Mailing address,
- Phone number,
- Date of birth.
During registration, you must select a currency: either euros or US dollars. Changing the currency post-selection might be challenging.
While the company offers its platform, minimal information is provided about it.
Categorization of Clients at Forex Cash
Standard clients: Individuals lacking professional expertise who have deposited less than 10,000 euros.
VIP clients: Investors willing to make independent investment decisions and have deposited between 10,000 and 50,000 €. They receive improved fee and commission conditions and higher order limits.
Premium client: Professionals who have invested over 50,000 euros. These clients enjoy the most extensive limits and the lowest commissions.
Payment Policies at Forex Cash
The company imposes various fees: Standard clients are obligated to pay 90 euros for account maintenance, while VIP clients pay 50 €. Inactivity by a trader for a month may result in a loss of 50 euros, and for inactivity lasting 3-6 months, an additional 50 euros, along with further deductions every 30 days.
Deposits and Withdrawals at The Forex. Cash
Deposits are free, with a minimum amount of 50 euros.
A wide array of deposit methods is available, including:
- Maestro and Mastercard,
- VISA,
- Qiwi,
- Sofort,
- Neteller,
- UnionPay,
- Yandex.Money.
The minimum withdrawal amount is 100 euros or the equivalent. The withdrawal cost varies depending on the chosen method. Bank transfers are the most expensive at 40 €. A 5% commission of the transfer amount is levied for withdrawals from a card, e-wallet, or payment system. The client is responsible for all additional transaction expenses and currency exchange fees.
Summary of Forex Trading
The company shares limited information about itself and presents a questionable certificate instead of a license. The trading features and platform details are inadequately described. “Broker Tribunal” advises traders against hasty investments under such circumstances.
This review has been prepared by the specialists at ExpertsReview.