Element Trade MT5
We checked Element Trade MT5 against the AskCheck register. It has been reported (2023) and carries the red flags below. Treat it with extreme caution.
Why it’s flagged
What we found
Element Trade MT5 claims to be operated by Element Trade Ltd. under various regulations, including the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Japan Financial Services Agency (Japan FSA), and the Central Bank of Ireland (CBI). However, our search for this company in the above-mentioned regulators' registries didn't yield any results. This means that it is using false information to deceive unsuspecting investors. In addition, Element Trade MT5 also claims to have an NFA ID of 0555592. We did find matching records on National Futures Association (NFA) website but data shows that it is not an NFA-member and thus not subject to this regulator's oversight. In essence, Element Trade MT5 is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.
Assessment source: FastBull BrokersView.
What to do next
- Stop sending money. Don’t make another deposit, pay a “tax” or “release fee”, or share remote-access to your device.
- Gather your evidence. Save statements, chat logs, transaction IDs and the wallet addresses you paid to.
- Report it to your regulator and to local police / action-fraud line so it’s on the official record.
- Add your report here so the next person searching this name is warned — report Element Trade MT5.
- Verify on the register. Cross-check the full entry on the SentFunds register before you trust anyone offering to help.