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AmeritForexTrade
Unregulated
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AmeritForexTrade

Canada
Not disclosed
2
1.54
Rating Index
Software
5.47
Licensed
0
Risk Control
1.2
Experience
5.05
Institution
0
Industry Classification
D
Unqualified
Trading Platforms
MT4 / MT5

Basic Information

  • Registered Region
    Canada
  • Operation Status
    Normal
  • Operating Period
    Not disclosed
  • Deposit Methods
    Not disclosed
  • Website
  • Market Type
    Foreign exchange
  • Support Languges
    English
  • Main Business
    FX, CFDs
  • Business Type
    FX broker
  • Social Media
  • Contact Details
  • Type of Accounts
    Standard, Not disclosed
  • Trading Platforms
    MT4 / MT5
  • Withdraw Methods
    Bank Transfer, Credit Card, E-wallet
  • Auto Trading
    Not supported

Pros and Cons

Pros: AmeritForexTrade offers an accessible entry point for new traders, as it typically provides downloadable trading platforms like MT4 and MT5, which are known for their user-friendliness. The broker operates in Canada, which has a recognized financial infrastructure. Cons: The major drawback of AmeritForexTrade is its lack of regulatory oversight, which raises significant concerns regarding client safety. No valid regulatory status leaves potential clients at risk of fraud. Additionally, the unclear information about deposit and withdrawal methods is alarming for prospective traders.

Company Background

AmeritForexTrade is a relatively new player in the forex trading space, operating out of Toronto, Canada. The absence of a solid regulatory framework means it operates under ambiguous terms. Its corporate structure and operational timelines are not clearly defined, but it has been serviced through its website for several years. Key milestones or client trust metrics remain unverified, which could impact its market positioning negatively.

Fund Security

Fund security is a critical area of concern when choosing a broker. AmeritForexTrade currently has no regulatory protections in place, meaning there is no oversight to ensure client funds are kept in segregated accounts. Without a compensation scheme or insurance coverage, traders face a heightened risk of losing their investments in the event of broker insolvency. Risk management practices appear to be minimal, further compounding these concerns.

Account Opening

The account opening process for AmeritForexTrade has not been well-documented, with details on account types being sparse. Minimum deposit requirements and specific account features are not disclosed. Such lack of transparency can be a deterrent for potential clients who are looking for clear and straightforward account management processes and guidelines.

Trading Fees

Specific trading fees associated with AmeritForexTrade remain undisclosed. There is no information available regarding spreads, commissions, swap rates, or any inactivity fees, which complicates potential clients' ability to accurately assess trading costs. The lack of a transparent fee structure is a red flag for many traders.

Trading Instruments

AmeritForexTrade focuses primarily on foreign exchange (FX) trading and offers Contracts for Difference (CFDs). The exact number of available forex pairs or specifics about instruments are not disclosed, which implies limited tradable assets for clients who may be looking for diversified portfolios.

Trading Technology

AmeritForexTrade employs the popular MT4 and MT5 trading platforms, known for their advanced capabilities and user-friendly interfaces. However, specific details regarding execution speed, order types, and features of the trading platforms remain unverified, indicating potential limitations in technology integration or user experience.

Research and Education

There is little to no information available about educational resources or research tools provided by AmeritForexTrade. The absence of market analysis, webinars, or trading guides can hinder novice traders looking to enhance their trading knowledge and expertise.

Customer Support

Customer support options for AmeritForexTrade are limited. Although there is an email contact, the absence of phone support or live chat services indicates potential accessibility challenges for users seeking immediate assistance. Additionally, response times are unknown, lending uncertainty to the quality of service.
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Rating Instructions
Rating Index
AmeritForexTrade
AmeritForexTrade
Unregulated
Legal Environment
5.47
License Value
0
Risk Management
1.2
Investor Protection
5.05
Regulatory Policy
0
  • Software

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  • Institution

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  • Licensed

    Assesses the market value of the licenses issued by the regulator, including entry thresholds, compliance costs, approval duration, and overall global recognition and influence.

  • Risk Control

    Evaluates the regulator's financial stability and risk management capacity, including budgeting, reserves, revenues, expenditures, and ability to respond to market or financial shocks.

  • Investor Protection

    Examines the regulator's complaint-handling and investor protection systems, assessing fairness, responsiveness, and enforcement effectiveness in safeguarding investor rights.

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