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Carter Financial Services Review: is carterfs.com Safe or Scam?

Carter Financial Services Review: is carterfs.com Safe or Scam?

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Carter Financial Services is selling Forex and binary options brokerage services to traders on the internet. The broker is very economical when it comes to the kind of information which they are releasing to prospective traders out there. They don’t say what their trading conditions are or whether they have various accounts for different types of traders. Besides this, the broker’s reputation is not good at all. You see, they are related to shady brokers on the internet plus the company Carter Financial Services is not neither regulated nor authorized to provide any kind of financial services to traders on the internet. So this means that this company is operating an illegal business, which means that the motive should be very obvious; to lure unsuspecting victims and once they have made a deposit, the broker can steal it altogether.

We have also noticed that the website where Carter Financial Services is hosted at is pretty the same as those belonging to shady brokers who are related to this broker. We don’t believe that this is coincidence since there is a great deal of proof and evidence that this broker is not reliable and cannot be used to trade the financial markets safely. Since they know that this brokerage has a bad reputation and people generally view it as a shady brokerage, the site has invested in some features such as generous leverage, wide range of trade-able instruments among other things in order to attract consumers.

The company is offering leverage of up to 1:200 which is not very high. It will suit most trading styles out there. We believe that leverage is a very necessarily tool in Forex trading. Without it, you can’t have enough purchase power to trade volumes. At the same time, it is a double edge sword which means that traders should use it with care. Excessive leverage will definitely lead to losses if you don’t know how to use it. On the other hand, low leverage will be of benefit but at the same time will deny you the opportunity to take maximum advantage from what your trading balance can give you.

Carterfs

Having said that, we should go straight to the disadvantages that are associated with Carter Financial Services brokerage. There are quite a few and it wouldn’t be fair to end this review without touching on them. In fact, these are the reasons why we have stated that this brokerage is not reliable and safe to trade with. If you’re looking for brokers that are authorized to provide financial services to traders on the internet, this list can provide you with the necessarily clue on where to get them.

Carter Financial Services review

If this broker wasn’t a scam, they would have provided massive benefits to traders looking for variety. By the way, this broker has a lot of assets for trading. If you are the kind of trader who loves to go for variety of assets that can be traded, this broker would be the best choice provided they were not a scam. Their portfolio of trade able assets consists of a wide range of currency pairs as well as CFDs. To be specific, the broker is offering  indices, commodities, stocks, ETFs, bonds and cryptocurrencies.

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We already have issues with CarterFS and we believe that everyone else on the internet has the same issues against this broker. Our advice would be to ignore the services of this broker completely because if you don’t, the red flags which the broker has on its website will make you regret for having ignored them in the first place. This broker does not look like a professional place where traders can deposit and trade safely without any problems.

Carter Financial Services and the regulators

Carter Financial Services (CarterFS) claims that it is based in Moscow Russia. However, our research has revealed that the broker is actually one of the many entities belonging to a shady company operating in Bulgaria. The law requires that any broker who wants to offer Forex and CFDs for trading should get authorization from Bulgarian Financial Supervision Commission (FSC) or any regulator who governs brokers operating in the EU. Unfortunately, Carter Financial Services is not regulated and does not hold any license that allows them to legally operate in their country of jurisdiction.

The worst thing, however, is that Carter Financial Services and many of its associated entities have been the subject of investigations by several financial regulators. The Italian and Maltese financial watchdogs have warned the public against using any brand that is operating under the management of the dubious mother company called SolutionsCM Ltd.

Another dubious brand called BritonPrice was recently blacklisted by the Spanish financial regulator, the CNMV. Briton Price is operated by SolutionsCM Ltd and is considered among the many brands which this dubious company is operating or working with to fleece internet users of their hard earned money.

CarterFS website has also copy pasted content which includes texts and images from their other websites. This is so unprofessional. If they can copy content directly from their other websites, it only means that they are scammers who are very lazy and unable to do a proper job in order to present a professional website.

Trading conditions are secret

CarterFS refrains from discussing their trading conditions. If you are going to sign up as a client, there is no way to find out what spreads they are charging and so on. You basically have to hope that the broker is providing fairly priced trading services which may not be the case. Transparency is very important and if a broker cannot show you how transparent they are, you are better off avoiding them at all cost.

Our best advice for you

The reason you cannot trust a broker like Carter Financial Services is because they are operated by a dubious company already. This company is unregulated and known for running several major scams in the Forex trading world. Please stick to our recommended brokers to be safe. 

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