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UK Further Trading (Furthertrading.co.uk) is another brutal CFDs and Forex brokerage firm. UKFurtherTrading is purporting to offer competitive low spreads and ECN automated matching transactions. After receiving numerous email complaints, we found numerous loopholes which make this broker a scam. Most members have been complaining about how funds are being mishandled. How are funds being mishandled by this broker? Read this detailed and exclusive UK Further Trading review for more.
What happens when you deposit funds with UK Further trading? According to complaints sent by members, once deposits have been made, withdrawing becomes an issue. Signing up with brokers who refuse to give access to withdrawals is prohibited. What we found out was beyond shocking with this broker. Stay away from this broker for a number of reasons. By reading this clear review, we will be exposing their scam ways. Simply stay away from UK Further trading.
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Landing on their homepage, we can see why newbie traders are falling for this platform. With a compelling website, newbie traders are easily falling for this platform. Why is this platform stealing from users? In most cases, such brokers are offshore brokers who simply want to fill their pockets. Professional scam artists will create a visually compelling website to entice users to sign up. Make a point of conducting a thorough research before signing up with any online investment platform.
Where are these brokers situated? Disclaimer at the footer of the page claims this platform is based in the U.K. Is this claim really true? One of the tricks professional scam artists use is using fake claims. By claiming to be based in the U.K., this broker wants users to believe they are FCA certified. A huge problem with this claim is we have to do a background check of such brokers. If this broker is based in the U.K why is their website designed in Chinese? Don’t you find this odd?
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Who are the founding members of this platform? Why have they failed to mention the actual names of owners of this platform. Anonymity is a dangerous partner when dealing with any online trading platform. Make sure to know who is running the trading platform you are using. What this means is users are depositing funds to an unknown third party. Recovering funds lost from an unknown source is next to impossible. Know you know this is a rogue and anonymous broker.
UK Further Trading is not licensed or registered by any regulatory body we know off. A truly registered broker would be licensed by the FCA. How is this broker claiming to be licensed and post no licensing details? What they have done is create an illusion they are duly licensed which is far from the truth. Any licensed entity will have FCA stamp of approval which UK Further Trading is lacking. What else did we find appalling in regards to registration of this broker?
A truly registered broker will post copies of their licensing. Another unsettling detail is lack of valid certificates. A true broker will have their license credentials posted for everyone to see. Lack of these details is proof we are dealing with an unlicensed entity.
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With what looks like a rigged demo account, users are making over 98% successful trades. A rigged demo account is used by scammers to entice users to sign up. Ask any professional trader; making this profit margin is next to impossible. Why is it impossible to make over 90% guaranteed profits in any type of trading? Prices will always fluctuate due to unforeseen reasons, such guarantees are not possible.
Boardroom wars, competition, and politics play a huge role in dictating the prices. Professional scam artists will rig their demo account in order to convince users to sign up with a real account. Once you open a real account, deposits must be made. After funding your account, these scammers laugh all the way to the bank. You have actually funded their accounts without realizing it. Ensure you stay away from these scammers at once.
UK Further Trading is enticing users to sign up with their four accounts. These four accounts are Standard, Plus, Pro, and ECN Account. What we found disturbing with their accounts is the minimum required deposit. Users are required to deposit over $2,000 to start trading. And this is an insane asking price. Set acceptable industry standard for minimum deposit for small accounts is $250. Why is this broker asking for such a high amount? UK Further Trading is targeting a certain class of investors, beware!
Another horrifying feature with their accounts is how similar they are to each other. Why would an investor deposit over $30,000 and get the same advantages as one who deposits $2,000? It seems this broker did not think it through when it comes to account features. And this is another problem with scam brokers. They rush to offer account types without thinking of what they are actually offering. Stay away from this broker unless you want to lose all your deposits with them.
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Security of funds is not guaranteed by a broker who is anonymous and lacks proper licensing. Funds are never secure by an unknown broker who uses fake credentials. How do they handle funds deposited by users? Which bank do they use to deposit funds? Why have they failed to mention their banking institution? Is it true users are funding the personal accounts of owners of this platform? Make sure to check out how a broker handles funds before signing up.
Segregation of accounts is another problem we have with this broker. What UK Further Trading is doing is conducting Forex trading services without following proper procedure. By merging assets in one account, this is simply a disaster waiting to happen.
Evidence clearly points out we are dealing with a Forex scam. UK Further Trading is a scam which must be avoided at all costs. Stay away from this broker as most victims are crying foul play after dealing with UKFurtherTrading.
Marking their emails as Spam will help protect users from being constantly harassed.
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