Unavailable Official Website
Since Eu-trade4us official website is temporarily unaccessible for the moment, we could only piece together some information from other websites to get a rough idea of this brokerage platform.
General Information
Eu-trade4u is a forex broker owned and operated by a company called EU TRADE LTD, registered in the United Kingdom. Since this brokers website cannot be opened now, we could get minimal information.
In terms of regulation, WikiFX shows that this broker is not subject to any regulation.
Although this alone does not mean that it is a forex scam, investors should take extra vigilance when trading with unregulated broker.
Account Types
Three trading accounts available withEu-trade4u: Standard, Prime and Pro accounts. The Standard account seems suitable for all kinds of traders, with any trading experience and levels, requiring a minimum initial deposit of $500. The other two trading accounts: Prime and Pro, are designed for professional traders, need to fund at least $5,000 and $50,000, respectively.
Leverage
The maximum trading leverage Eu-trade4u is up to 1:1000, which It's far beyond what most regulators consider acceptable for retail traders. High leverage is full of risk, but unregulated brokers just do not care their clients fund safety.
Spreads & Commissions
From MT4 demo account, we see the spreads seems fine, under the accepted 1 pips range for FX majors.
Trading Platform
Eu-trade4u claims that it offers two selections of trading platform: a WebTrader and MT4 trading platform. WebTrader is a simple platform, lack feature of automated trading.
Deposit & Withdrawal
Eu-trade4u only accepts its clients to make a deposit and withdrawal through Credit Card, which is good news, on the other hand, as a restrictive withdrawal policy is enforced by the bank, and cards allow a chargeback to be filed within 540 days of the date of purchase.
According to its withdrawal policy, it states that withdrawals of profits are not possible-here is how Eu-trade4u describes:
In other words, if your account is credited with a bonus, all profits made from trading the bonus are considered Non-Deposits and are not eligible for withdrawal. But how do you distinguish between profits made from trading your deposit from bonuses EU-trade4u issues？ Brokers will claim that all profits are non-deposited funds and keep them for themselves.
You will have to pay at least $35 for a withdrawal if you can also achieve another impossible turnover of 200 times, otherwise a 10% levy will be added.
Inactivity Fees
Inactive accounts are also subject to an unacceptable fee:
Although some other forex broker do charge dormant account fees, but the fees are never as high as 10% of your account balance.
Contact Information
Contact channels cannot be found anywhere, which means if there any trading problems occurred, this broker cannot be reached, which is dangerous.
Company Address: 46 Heathdale Avenue, Hounslow, United Kingdom, TW4 7HB.
2023-03-20 18:16
