Titan-cfd Review: Is Titan-CFD.Com a Legit Broker?
The legitimate-looking website that this broker boasts serves to lure in inexperienced people. However, upon examining the sections a little better, it is evident that there is not much content there. The Titan-cfd Review will dive into this cyber fraud.
This also applies to dealing with dishonest brokers like the ones I’ve named below Oriontero, AltimaTrade, and Fibotraders.
|Company||Vie Finance (Titan CFD)|
|Address||Madara 25,78034, Vängla, Estonia|
|[email protected], [email protected], [email protected]|
|Leverage||Up to 1:30 (retail clients);
Up to 1:200 (professional clients)
|Warning||Finanstilsynet, CONSOB, CNMV, Finantsinspektsioon, FSMA|
From the available information, it is easy to discern that Titan-cfd is an offshore broker that wants to scam you and take your money.
Titan-cfd Reliability – Regulation and Financial Security
On its website, Titan-cfd says it is “a brand name of Via France, licensed and regulated by HBMC (license no. 6/884/10.01.2016) and General Commercial Registry no: 122000805000.” Vie Finance is a legitimate company regulated by Greek HCMC. HBMC, the entity that allegedly regulates this fraudster, does not exist. Hence, Titan-cfd is actually unlicensed.
Furthermore, the website also states that Titan-cfd is regulated in the EU by the Capital Market Commission. Assuming they meant the EFFAS Capital Markets Commission, it still does not change anything since there are no records about Titan-cfd on the EFFAS website.
On top of that, there are several warnings issued against this scam broker, the most notable ones by the Italian Commissione Nazionale per le Società e la Borsa (CONSOB) and the Estonian Financial Supervisory Authority Finantsinspektsioon.
Now that its cover has been blown, there is no reason to expose yourself to risk and trust this financial swindler with your money and energy. If you want to start trading, make sure to find a reliable and regulated broker.
Titan-cfd Trading Platform
According to its official website, Titan-cfd offers a web platform and a mobile web platform. Browser-based platforms are undoubtedly inferior to leading and top-notch software such as MetaTrader 4 & 5. In addition, they are easily susceptible to manipulation designed to take your money away from you.
The platform that this dishonest broker provides is full of errors and lacks the necessary tools and quality for a proper trading experience. Beware of malicious download files that scammers might put on their websites.
Titan-cfd Deposits and Withdrawals
The minimum deposit amount can be deducted in the “account types” section, where the company says it offers nine different types. The Basic account requires clients to make a deposit of at least $200 while the Infinity account goes above and beyond with an astronomical $100,000+.
There is insufficient information about deposits and withdrawals on the broker’s website. The methods of making a deposit include a credit card transfer or a fast bank transfer. Titan-cfd also states that the money must be sent to Danske Bank Sweden and that proof of transaction must be subsequently provided.
The lack of information raises suspicion of fraud. Investment scams usually go about their schemes in this manner, often eliciting multiple complaints from clients.
How is the Fraud Delivered?
Fraudulent brokers typically try to lure potential clients with lucrative offers and a courteous approach. Once the person is deceived into thinking he/she is going to make a profit, the scammer is halfway there. Once the first investment is made, the victim is at a loss and the fraudster wins.
The tactics that such phonies deploy include numerous clauses that they claim the client had agreed to. This way, they will convince you that making a withdrawal is not possible or even request that you send additional funds.
Forex Brokers Recommendations
Your money is at stake here, so why not choose a company that is reliable, approved, and with a good rating to help you in your financial endeavors? The table below consists of several legitimate brokers that we recommend you check out. As you can see, the minimum deposit they require is much lower than the one demanded by the aforementioned scammer.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
For each and every one of these, feel free to check their regulations yourself and make sure to pick the one that you believe will suit you best.
- Titan-cfd is an unregulated broker;
- It lied about its licenses in an attempt to trick people;
- There is not enough information about withdrawals;
- The trading platforms it offers can be manipulated;
- There are several warnings about this scam broker.
FAQs About Titan-cfd Broker
Is my Money Safe with Titan-cfd?
Your money is not safe with Titan-cfd because the broker is unregulated.
Does Titan-cfd Offer a Demo Account?
There is no possibility of opening a demo account on Titan-cfd’s website.
Is Titan-cfd a Trustworthy Broker?
Titan-cfd is not a trustworthy broker because it is unlicensed and has warnings issued about it.