Elite Trading FX Information
Founded in 2018, Elite Trading FX is an unregulated brokerage company registered in the United Kingdom. This firm specializes in forex copy-trading. They boasts of safety and efficiency of their platform. They charge a monthly subscription fee of €70 (does not include vat). Investment fees can dip into your returns, so keeping costs low might be a priority.
Pros and Cons
Is Elite Trading FX Legit？
Elite Trading FX currently does not hold any valid regulatory certificates. Although it is incorporated in the United Kingdom, it lacks regulation from any recognized financial authority. It is crucial to understand that engaging with an unregulated broker involves significant risks.
Services
Elite Trading FX was created when two successful traders joined their forces and began to share their trades. This firm provides the copy-trading service that is based on a hands-free trading system they have developed for clients who have limited time during the day. They boasts that its platform is both safe and efficient. Every client has the power over their account to change parameters (risk per trade, lot size, and as well to turn on or off the trader copier software).
Elite Trading FX Fees
Before you open an account with a brokerage, it's better to look under the hood of its fee structure. If you prefer a hands-free approach, Elite Trading FX gives you copy trading service and access to a private group with costs of a once-off €100 (does not include vat), and €70 (does not include vat) per month. There is also a €30 setup fee and a €10 (does not include vat) mirror settings fee. The set-up fee is paid only once your order is created for the first time.
Overall, Elite Trading FX is on the pricier end for online trading compared to other brokerages.
Customer Support Options
For any question you might have, help is available via email (info@elitetradingfx.com). There is no customer support phone number listed on the website and live chat isn't available. That could be an inconvenience if you need help with your account and time is of the essence. Other online brokerages may offer you more options for getting in touch with customer service representatives or investment experts.
The Bottom Line
Elite Trading FX could be a good fit if you prefer a hands-off approach. Copy-trading is where this firm really shines as a trading platform. However, the monthly subscription fee is higher compare to other brokerages. Furthermore, trading with Elite Trading FX may undermine security as they have no valid regulatory certificates. It is better to choose regulated brokers with transparent operationsto ensure the safety of your investments. When comparing brokerages, keep the potential risks firmly in mind.
FAQs
Is Elite Trading FX safe？
Elite Trading FX is not regulated by any reputable financial authority. Before choosing a brokerage, remember to consider the risk involved.
Is Elite Trading FX good for beginners？
Elite Trading FX provides copy-trading service which could be a good fit for beginners.
Does Elite Trading FX offer leveraged trading？No, Elite Trading FX does not provide leverage trading.
Risk Warning
Online trading involves considerable risk, so it may not be suitable for every client. Please make sure that you totally understand the risks involved and notice that the information above provided in this review may be subject to alteration owing to the constant updating of the company's services and policies.
