Overview of FuturBTC
FuturBTC is an unregulated online forex and CFD trading broker based in the United Kingdom. Established within the past year, the company offers various account types, ranging from Bronze to VIP, catering to different levels of traders. Their tradable assets include Forex, Stocks, Indices, Commodities, and Cryptocurrencies.
The company provides access to a proprietary trading platform, as well as MetaTrader 4 and MetaTrader 5. While some specific financial information, such as spreads, leverage, and fees, remains ambiguous on their website, they offer multiple deposit and withdrawal options, including bank wire, credit card, and e-wallets. Their customer support is available via phone or email. However, the email address is not provided on the website.
Regulation
FuturBTC is labeled as unauthorized by the regulatory authority. As a result, the company operates without the oversight and scrutiny that regulated entities typically undergo. This lack of authorization means that there are no specific guidelines or protections in place to ensure compliance with industry standards, and customers may face increased risks while dealing with an unauthorized broker.
Operating without proper authorization exposes traders to various risks. Without regulatory oversight, there is a higher chance of potential fraudulent activities or unethical practices by the company. Additionally, in the event of disputes or issues with the company, customers might face difficulties in seeking legal recourse, as there are no regulatory bodies to mediate and enforce fair resolutions.
Pros and Cons
FuturBTC, an online forex and CFD trading broker based in the United Kingdom, offers a range of account types catering to various traders. With tradable assets encompassing Forex, Stocks, Indices, Commodities, and Cryptocurrencies, the company provides diverse investment opportunities. The availability of both a proprietary trading platform and MetaTrader 4 and 5 platforms grants flexibility to traders in choosing their preferred interface. Additionally, the acceptance of e-wallets as one of the deposit and withdrawal options adds convenience for users who prefer this payment method.
One significant drawback of FuturBTC is its lack of regulation, as the company is labeled as unauthorized. The absence of specific financial information, such as spreads and leverage, on their website raises transparency concerns. This ambiguity may lead potential traders to question the credibility and trustworthiness of the company. Furthermore, the limited customer support options, with only phone and on-site query submission available, may pose challenges for clients seeking immediate assistance or support through other channels.
Ambiguous Website
The website of FuturBTC provides little description when it comes to essential financial aspects such as leverage and spread. As a potential trader visiting the site, there is a lack of clarity regarding the maximum leverage ratio offered by the company, which is crucial information for risk management. Similarly, the website does not disclose specific details about the spreads on different tradable assets, making it difficult for traders to assess the cost of trading and potential profitability.
The absence of such vital information can have a negative impact on the clarity and reputation of the company. Traders seek transparency and clear disclosure of financial terms before engaging with any brokerage firm. Without comprehensive information about leverage and spreads, potential clients may view the company's practices as non-transparent or even suspicious. This lack of transparency can raise concerns about the company's overall credibility and trustworthiness, which are significant factors in establishing a positive reputation within the competitive financial industry.
Market Instruments
FuturBTC offers a diverse range of market instruments, including Forex, Stocks, Indices, Commodities, and Cryptocurrencies.
Forex: FuturBTC provides access to the foreign exchange market, allowing traders to participate in currency trading with various currency pairs.
Stocks: FuturBTC offers the opportunity to trade stocks, enabling clients to invest in shares of publicly listed companies.
Indices: FuturBTC allows traders to engage in index trading, providing exposure to the performance of specific market indices.
Commodities: FuturBTC enables trading in various commodities, including precious metals, energy resources, and agricultural products.
Cryptocurrencies: FuturBTC offers cryptocurrency trading, allowing users to trade digital currencies like Bitcoin, Ethereum, and other altcoins.
The following is a table that compares FuturBTC to competing brokerages:
Account Types
The account types offered by FuturBTC are Bronze, Silver, Gold, Platinum, Diamond, Premium, and VIP. Specifics are as follows:
Bronze Account: FuturBTC's Bronze account requires a minimum deposit of €10,000 and provides access to market reviews, a trading e-book, webinar access, and social trading. All subsequent accounts have access to these features.
Silver Account: The Silver account at FuturBTC requires a minimum deposit of €25,000 and has no notable difference to the Bronze account.
Gold Account: FuturBTC's Gold account demands a minimum deposit of €50,000 and offers all the prior educational content, as well as advanced video-on-demand content, and one risk-free trade.
Platinum Account: The Platinum account, requiring a minimum deposit of €100,000, grants access to the original educational content, advanced video-on-demand content, one risk-free trade, and a personal assistant. Additionally, traders gain access to a customized account and the trading room.
Diamond Account: FuturBTC's Diamond account, with a minimum deposit of €250,000, encompasses access to the Platinum benefits as well as a customized account, and access to the trading room. Moreover, traders receive assistance from a designated trade specialist.
Premium Account: The Premium account, requiring a minimum deposit of €500,000, includes all the Diamond account privileges, and specifics on nothing else.
VIP Account: FuturBTC's VIP account demands a substantial minimum deposit of €1,000,000 and provides the same with the Diamond and Premium accounts.
The specifics of the account types are as follows:
How to open an account？
Navigate to the top left side of the screen to find the 3 horizontal lines, which is the button to expand the navigation menu.
From there, look for the Sign Up button which is directly at the top of the menu.
Fill out the Live Registration form with the required information.
After pressing the Register now button, continue to pick the account type.
After choosing an account type, deposit the minimum deposit amount and the account creation process is completed.
Minimum Deposit
FuturBTC offers varying minimum deposit rates based on the account types available. The minimum deposit ranges from €10,000 for the Bronze account to €1,000,000 for the VIP account. Traders can choose the account type that aligns with their investment goals and risk tolerance, providing flexibility in selecting the most suitable option for their trading needs.
Deposit & Withdrawal
FuturBTC offers a selection of deposit and withdrawal methods to facilitate transactions for its traders. These methods include bank wire, credit card, Skrill, Neteller, and Perfect Money. Traders can use these various payment options to fund their trading accounts or withdraw profits efficiently. Each method provides different levels of convenience and accessibility, catering to the preferences of different traders. However, specific details regarding fees, processing times, and limitations for each method are not explicitly disclosed on the company's website, requiring traders to inquire directly for further information.
Trading Platforms
FuturBTC offers its proprietary trading platform, along with support for the widely used MetaTrader 4 and MetaTrader 5 platforms.
Proprietary Trading Platform: FuturBTC offers its own proprietary trading platform, providing traders with an in-house solution for executing trades and managing their accounts. Specific features include Mobile-Friendliness and Trading Analysis Tools.
MetaTrader 4 and MetaTrader 5: In addition to the proprietary platform, FuturBTC also supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are widely recognized and popular trading platforms in the industry. MT4 and MT5 are known for their user-friendly interfaces, advanced charting tools, and automated trading capabilities through Expert Advisors.
The following is a table that compares FuturBTC to the mentioned brokerages:
Customer Support
FuturBTC offers two customer support options: phone support and on-site query submission. Specifics are as follows:
Phone Support: Traders can reach FuturBTC's customer support via phone, utilizing the provided contact number: +44 2045930120. Phone support offers direct and real-time communication with the company's representatives for addressing inquiries and concerns.
Email: FuturBTC also provides email support in the form of an on-site query submission option for customer support. Traders can use this feature to submit their questions or requests directly through the website, and the company's support team will respond accordingly.
Educational Resources
FuturBTC provides educational content in the form of market reviews, a trading e-book, webinar access, and social trading, offering resources and learning opportunities to its traders.
Market Review: FuturBTC provides market reviews as part of its educational content, offering insights and analysis of various financial markets. These reviews aim to keep traders informed about market trends and developments, assisting them in making well-informed trading decisions.
Trading E-Book: The company offers a trading e-book as part of its educational resources, which serves as a comprehensive guide to different trading strategies, concepts, and principles. Traders can utilize this e-book to enhance their knowledge and understanding of the financial markets and improve their trading skills.
Webinar Access: FuturBTC grants traders access to webinars, allowing them to participate in live educational sessions conducted by market experts. These webinars cover a wide range of topics, including market analysis, trading techniques, risk management, and other relevant subjects, providing learning opportunities.
Social Trading: The company offers social trading as an educational content type, allowing traders to observe and follow the trading activities of experienced and successful traders. This feature enables less experienced traders to learn from the strategies and approaches of more seasoned professionals, potentially improving their trading outcomes.
Conclusion
In conclusion, FuturBTC is an unregulated broker that offers a range of account types with varying minimum deposit requirements, providing access to tradable assets such as Forex, Stocks, Indices, Commodities, and Cryptocurrencies. Traders can use either the proprietary platform or MetaTrader 4 and MetaTrader 5 for trading.
It is important to note that FuturBTC lacks regulation, which may raise concerns about transparency and oversight. The website provides limited financial information, making it difficult for traders to assess the full cost of trading. The educational content available, including market reviews, a trading e-book, webinars, and social trading, lacks comprehensive details, leaving traders with uncertainty about the resources' value.
FAQs
Q: What types of trading platforms are available at FuturBTC？
A: FuturBTC offers its proprietary platform, as well as MetaTrader 4 and MetaTrader 5.
Q: What are the available tradable assets at FuturBTC？
A: FuturBTC provides access to Forex, Stocks, Indices, Commodities, and Cryptocurrencies.
Q: How can traders reach customer support at FuturBTC？
A: Traders can contact customer support via phone or email.
Q: Does FuturBTC have any regulatory oversight？
A: No, FuturBTC currently operates without regulation.
Q: What is the minimum deposit required for the Platinum account？
A: The minimum deposit for the Platinum account is €100,000.
Q: What educational content does FuturBTC offer？
A: FuturBTC provides market reviews, a trading e-book, webinars, and social trading as educational resources.
