E Fxtrade
We checked E Fxtrade against the AskCheck register. It has been reported (2022) and carries the red flags below. Treat it with extreme caution.
Why it’s flagged
What we found
E-Fxtrade claims to be a regulated and trustworthy broker and presents its business certificates from the United States on its website. However, business certificates do not have the legal force to offer forex services that are subject to relevant regulations issued by regulatory bodies. As per United States law, US residents and citizens are only permitted to operate with CTFC- and NFA-regulated forex brokers. Firms and individuals, who need to possess the relevant regulations issued by the National Futures Association (NFA) or the Commodity Futures Trading Commission (CFTC), will be allowed to solicit or approach US citizens. However, we did not find any match results to E-Fxtrade in the above two regulatory bodies. The truth is, E-Fxtrade is not under valid regulation by any regulators to do forex. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is 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 E Fxtrade.
- Verify on the register. Cross-check the full entry on the SentFunds register before you trust anyone offering to help.