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Score

1.37 /10
Danger

86fxtrade

United States

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

https://www.86fxtrade.com

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Score

Regulatory Index0.00

Business Index5.91

Risk Management Index0.00

Software Index4.00

License Index0.00

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Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Regulatory disclosure

Danger

MT MFSA
2022-08-08
MFSA Warning - 86FXTRADE & P240 Ltd – Unlicensed Exchange
86fxtrade

Broker Information

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Company Name

P24O Ltd.

Company Abbreviation

86fxtrade

Platform registered country and region

United States

Company website

Company summary

Pyramid scheme complaint

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Warning: Low score, please stay away!
Previous Detection : 2024-12-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

86fxtrade · Company summary
AspectInformation
Registered Country/AreaUnited States
Founded year2022
RegulationUnregulated
Tradable assetsForex, share indexes, energy carriers, and commodity futures
Demo accounts✔
Maximum LeverageUp to 1:100
SpreadsFrom 1.2 pips
Trading PlatformsMetaTrader 5 (MT5)
Customer SupportPhone: +12015283874
Email: support@86fxtrade.com

86FXTrade is a trading platform that was launched in 2022. Utilizing the popular MT5, 86FXTrade offers over 70 tradable products. The platform provides several account types. However, it is not regulated and their minimum deposit requirements are too high.

86FXTrade's homepage

Pros and Cons

ProsCons
Range of tradable assetsAbsence of regulatory oversight
MT5 availableHigh deposit minimum and spreads
No commissions chargedNo 24/7 customer support
Security measures provided

Is 86fxtrade Legit?

86fxtrade claims it offers many security measures including Investor Compensation Scheme, and Negative Balance Protection. It claims it is regulated by MFSA. However, the MFSA has warned that it is a unlicensed exchange.

MFSA warning
client protection

What Can I Trade on 86fxtrade?

86fxtrade offers 70 instruments available for trading, including forex, share indexes, energy carriers, and commodity futures.

Tradable InstrumentsSupported
Forex✔
Commodities✔
Indices✔
Cryptocurrencies❌
Shares❌
ETFs❌
Bonds❌
Mutual Funds❌
What Can I Trade on 86fxtrade?

Account Type

86fxtrade offers two main kinds of accounts: the Weekly and Monthly accounts. Each account has different sub-account type.

In the Weekly account, you can choose the Basic, Starter, Deluxe, Executive, and Gold accounts with the minimum deposits of $300, $1,000, $2,000, $3,000, and $4,000 respectively.

Besides, in the Monthly account, there are the Premium, VIP, VIP Luxury, Silver Platinum, Gold Platinum, VIP Gold Platinum, Gold Luxury Platinum with the minimum deposits of $5,000, $75,000, $150,000, $350,0000, $500,000, $750,000 and $1,000,000 respectively. To this end, their minimum deposits are rather high.

Account TypeMinimum Deposit (USD)Deposit BonusScalpingDaily SignalsFinancial Plan
Weekly
BASIC$30010%✓✓✓
STARTER$1,00015%✓✓✓
DELUXE$2,00025%✓✓✓
EXECUTIVE$3,00035%✓✓✓
GOLD$4,00050%✓✓✓
Monthly
PREMIUM$5,00075%✓✓✓
VIP$75,00095%✓✓✓
VIP LUXURY$150,000120%✓✓✓
SILVER PLATINUM$350,000145%✓✓✓
GOLD PLATINUM$500,000150%✓✓✓
VIP GOLD PLATINUM$750,000185%✓✓✓
GOLD LUXURY PLATINUM$1,000,000250%✓✓✓
Account comparison

Leverage

86fxtrade offers leverage up to 1:00. High leverage can lead to significant gains, but it also increases the risk of substantial losses.

86fxtrade Fees

Account TypeSpreadsCommission
Weekly
BASIC1.9None
STARTER1.5
DELUXE1.2
EXECUTIVE1.2
GOLD1.2
Monthly
PREMIUM1.9None
VIP1.5
VIP LUXURY1.2
SILVER PLATINUM1.2
GOLD PLATINUM1.2
VIP GOLD PLATINUM1.2
GOLD LUXURY PLATINUM1.2

Trading Platform

86fxtrade offers MT5 trading platform. Developed in 2000 by MetaQuotes Software Corporation, the MetaTrader 5 (MT5) platform swiftly became one of the world's most popular trading platforms across desktop, Android, and iOS platforms.

MT5

Deposit and Withdrawal

86FXTrade offers credit/debit card payments (Visa, Mastercard), e-wallets (such as Webmoney, Neteller), and Bitcoin for deposits and withdrawals. It does not charge any fees for deposits but charges 2.9% for NETELLER and Skrill withdrawal.

Payment methods

News

NewsRegulated in Many Countries? 86FXTRADE is Warned by MFSA

Trading with a forex broker regulated by forex regulators gives investors a sense of security.

WikiFX
2023-01-24 11:00
Regulated in Many Countries? 86FXTRADE is Warned by MFSA

NewsWikiFX Broker News: MFSA Warns 86FXTRADE

86FXTRADE has twelve different account types, which is unusual for a registered broker. Furthermore, the fraud promises incredible incentives ranging from 10% to 250%! If accurate, the massive transaction volume is inconceivable when combined with the 1:100 high leverage.

WikiFX
2022-08-18 15:29
WikiFX Broker News: MFSA Warns 86FXTRADE
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Comments

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rtang
more than one year
Trying to get my money out from 86fxtrade was a nightmare. It's like they're not happy when you succeed in trading. I wanted to cash in my profits, but guess what? They grabbed 10% of my hard-earned money. When I asked their customer service about it, they couldn't give me a straight answer on why they took my cash. Seriously, steer clear of these guys. They act all friendly before you deposit, but once your money's in, everything goes south.
Trying to get my money out from 86fxtrade was a nightmare. It's like they're not happy when you succeed in trading. I wanted to cash in my profits, but guess what? They grabbed 10% of my hard-earned money. When I asked their customer service about it, they couldn't give me a straight answer on why they took my cash. Seriously, steer clear of these guys. They act all friendly before you deposit, but once your money's in, everything goes south.
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2024-01-09 18:03
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Vntafer
more than one year
Unable to withdraw funds, it seems like a typical scam. As soon as I requested a withdrawal, they locked my account.
Unable to withdraw funds, it seems like a typical scam. As soon as I requested a withdrawal, they locked my account.
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2023-12-22 12:14
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