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Investor First Trade (investorfirst.trade) is without a doubt a %100 fraudulent brokerage firm. It is NOT a real broker! Stay away! InvestorFirst.Trade scam works by getting you to believe you can become rich by trading with them.
Investor First Trade Review
It is inevitable that when you decide to trade online in the financial markets, you will require the services of a broker. They are the ones that open the doors for you, so there can be no trading without them. Nonetheless, this does not mean that you can choose any brokerage and it will get the job done. There are good and bad options available here as well, which means you need to navigate this space carefully, or it can lead to losses. Your priority is to find a reliable broker, but this Investor First Trade review is an example of how a brokerage can try to fool you into believing it is one.
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You do not want to be in the same boat, so the best way to go about it is to not believe anything you read. Rather than taking the broker’s word for it, you should instead check all the details on your own. Doing so will give you a clearer picture about the reliability of a brokerage. You can give this a try with Investor First Trade that presents itself as a brokerage based in the United States. It is offering access to forex currency pairs, shares, precious metals, indices and commodities.
As per Investor First Trade, you can trade all of these on a modern trading platform and with the best conditions. Doesn’t that sound like a good deal? While it does sound appealing, you need to ensure that Investor First Trade is reliable. For that, you have to check all the details, so let’s begin.
Its license
First things first, you should start with the license of an online broker because you do not want to deal with one that operates without it. Most jurisdictions, including the United States, require brokers to obtain a license for providing their services and if they do not do so, then you should immediately be alerted because it means you cannot depend on them. Only fraudulent companies would avoid it because they know it would reveal the truth.
This is because there are requirements to be fulfilled for getting licensed and compliance with laws is required that scammers cannot agree with. The same seems to be true in the case of Investor First Trade because you will not find any mention of a license on its website. Yes, it claims to be based in the United States, but to do so, it has to have a license from the Commodity Futures Trading Commission (CFTC). It would also have to be a member of the National Futures Association (NFA).
But, you will not find Investor First Trade mentioned in the online registers of either of these bodies, which means that it is not permitted to offer its services in the United States. The office address that it has posted on its website could be a complete lie and you cannot verify it because of the lack of regulation. It means that anything the company says cannot be accepted because it does not have any credibility.
Its trading platform
How do you execute your trades in the markets? This is what the trading platform is used for, as it is software that has been designed for this specific purpose. There are different types of platforms that exist and the one you are offered is always at the discretion of the brokerage. The features and capabilities certainly vary, but you want access to the best in order to achieve your goals.
This is what you are promised at Investor First Trade, but you will certainly not find anything like it. The trading platform that it does offer is a poor web trading software that does not have much to offer in the name of technology and tools. It is a far cry from the industry-leading MT5 trading platform that offers a seamless trading experience to its users and is offered by most reputable brokers in the market.
Its trading conditions
The trading conditions that you find are extremely important because they are related to your bottom line. Your goal is to make profits and this will depend a lot on the kind of trading conditions you are provided. You want them to be as competitive as possible, but Investor First Trade is not able to do that either. The spreads that it offers begin at 3 pips, which is more than three times than what competitive spreads look like.
The leverage ratios that Investor First Trade is offering are as high as 1:200. These do sound appealing, but you should remember that brokers based in the US are not allowed to offer leverage of more than 1:50. This means that Investor First Trade should not be doing so either and since it is, you can consider this evidence that it is lying about operating from the US.
Its payment methods
Looking into the payment methods offered by a broker is also necessary because you want to make your payments easily and also ensure that you can get a refund if there is any problem down the road. This is certainly not possible in the case of Investor First Trade because the only payment methods it offers is that of cryptocurrencies.
It supports a number of them, including bitcoin, litecoin and tether, which means that you cannot file for a chargeback in the future. In addition, it also benefits Investor First Trade because the crypto payments tend to be anonymous, so they are able to get away with your money easily.
Final Verdict
The digging into the details of Investor First Trade make it clear that it is not a reliable brokerage by any definition.