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AmericanFxTrading, a forex and CFDs broker, has come under scrutiny following a warning issued by the UK’s Financial Conduct Authority (FCA) on July 18, 2024.
Notably, the broker falsely claims to be regulated in the USA, UK, and Canada, raising significant credibility issues.
We will also discuss the broker’s trading conditions and account terms, providing prospective clients and the general public with a thorough understanding of its operations.
Overview
| 🌐 Site URL | americanfxtrading.us |
| 📞 Phone | +15707959771 |
| support@americanfxtrading.us | |
| 🏦 Company | AmericanFxTrading Technology S.R.L. |
Key Details:
- Ownership and Regulation Concerns: The broker is reported to have an anonymous owner and has been flagged by the FCA for falsely claiming to be regulated in the USA, UK, and Canada.
- Trading Conditions: Offers high risk leverage ratios and does not provide a company address, raising credibility issues.
- Account Types and Terms: Multiple account types ranging from a minimum deposit of $1,000 to $50,000, each with varying deposit bonuses and features like scalping and negative balance protection.
Is AmericanFxTrading Regulated?
Despite claiming regulation in the USA, UK, and Canada, a verification check reveals no such regulations are in place for AmericanFxTrading.
This discrepancy raises significant doubts about its credibility and operational legality.
What Does AmericanFxTrading Offer?
AmericanFxTrading boasts a broad spectrum of tradable assets including forex, cryptocurrencies, indices, shares, and more.
It provides leverages up to 1:500, far exceeding the legal limits set by financial regulators in supposed jurisdictions of operation.
The trading platforms available include MT4 and MT5, accessible on multiple devices.
How Online Trading Scams Work
Online trading scams lure individuals with the promise of substantial returns through investments in various financial markets.
These scams typically operate through ads and social media, sometimes utilizing fake celebrity endorsements and showcasing luxury lifestyles to attract potential victims.
The initial engagement might show some returns to give a false sense of profitability, only to manipulate trading outcomes and block withdrawals, ultimately leading to significant financial losses for the investor.
FAQs about AmericanFxTrading
Is AmericanFxTrading a Scam?
The evidence suggests caution due to misleading regulatory claims and warning from the FCA.
What is the Minimum Deposit at AmericanFxTrading?
Officially, accounts start at $1,000.
What to Do If I Can’t Withdraw My Funds from AmericanFxTrading?
Contact financial regulators or local financial advisory services for guidance and possibly to lodge a complaint.
Who is the CEO/Owner of AmericanFxTrading?
The company has not disclosed ownership details, which is a red flag for transparency.
