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Scam Brokers
Score
1.57 /10
Danger
FUDA
Scam Brokers5-10 years
Suspicious Regulatory License
Fake MT4
The server is only located in China.
High potential risk
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Comparison
Expose
Exposure
Open Account
Website
Score
Regulatory Index0.00
Business Index7.47
Risk Management Index0.00
Software Index4.00
License Index0.00
Open Account
Website
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
Check whenever you want
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This platform is a Ponzi Scheme. Please stay away!
4
Previous Detection :
2024-09-20
- This broker has been verified to be illegal and all of its licences have expired, and it has been listed in WikiFX's Scam Brokers list. Please be aware of the risk!
- The platform is a Ponzi Scheme, which refers to the use of "principle of value multiplication". In the form of rolling or static fund circulation, it uses the money of next member to pay to the present one, which is essentially a pyramid scheme with the distinction of hidden, deceptive and socially harmful. By calling common person's desire for money, fraudsters in the platform begin raising funds underground. Since this kind of platform mostly will abscond after 1 or 2 years, the fund-raising mode just can exist less than 3 years.
WikiFX Verification
General Information & Regulation
FUDA is an investment registered in Hong Kong China, offering forex currencies, indices and commodities through MT4 trading platform. However, FUDA is not subject to any regulation.
Risk Warning
It has been verified that FUDA is an illegal platform, so it is unsafe to trade with this broker.
Markets Instruments
FUDA offers the following trading instruments: forex, Index as well as commodities.
Minimum Deposit
Clients can choose the account type that best suits their individual trading objectives from a choice of two live trading accounts: the Standard Account (with a minimum deposit of $200) and the ECN Account (with a minimum deposit of $2,000).
Spreads & Commissions
FUDA advertises that it offers low spreads for its traders, but does not specify detailed spreads on particular instrument.
Trading Platform Available
What FUDA gives traders is the counterfeit MT4 trading platform, so it is definitely unsafe to trade on this platform.
Deposit& Withdrawal
In terms of payments methods available, FUDA does not make this part clear. In most cases, most brokers would support traders to fund their accounts through Credt/Debit Card (Visa, MasterCard, Maestro), Bank Transfer, as well as some online processors like Skrill and Neteller.
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