Score
86fxtrade
United States|2-5 years| https://www.86fxtrade.com/
Website
Rating Index
Contact
Licenses
No valid regulatory information, please be aware of the risk!
Single Core
1G
40G
1M*ADSL
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
Basic information
United States
2-5 years Suspicious Regulatory License Suspicious Scope of Business High potential riskAccount Information
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Website
86fxtrade.com
Server Location
South Africa
Website Domain Name
86fxtrade.com
Server IP
169.255.59.92
Company Summary
| Aspect | Information |
| Registered Country/Area | United States |
| Founded year | 2022 |
| Regulation | Unregulated |
| Tradable assets | Forex, share indexes, energy carriers, and commodity futures |
| Demo accounts | ✔ |
| Maximum Leverage | Up to 1:100 |
| Spreads | From 1.2 pips |
| Trading Platforms | MetaTrader 5 (MT5) |
| Customer Support | Phone: +12015283874 |
| Email: support@86fxtrade.com |
86FXTrade is a trading platform that was launched in 2022. Utilizing the popular MT5, 86FXTrade offers over 70 tradable products. The platform provides several account types. However, it is not regulated and their minimum deposit requirements are too high.
Pros and Cons
| Pros | Cons |
| Range of tradable assets | Absence of regulatory oversight |
| MT5 available | High deposit minimum and spreads |
| No commissions charged | No 24/7 customer support |
| Security measures provided |
Is 86fxtrade Legit?
86fxtrade claims it offers many security measures including Investor Compensation Scheme, and Negative Balance Protection. It claims it is regulated by MFSA. However, the MFSA has warned that it is a unlicensed exchange.
What Can I Trade on 86fxtrade?
86fxtrade offers 70 instruments available for trading, including forex, share indexes, energy carriers, and commodity futures.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Commodities | ✔ |
| Indices | ✔ |
| Cryptocurrencies | ❌ |
| Shares | ❌ |
| ETFs | ❌ |
| Bonds | ❌ |
| Mutual Funds | ❌ |
Account Type
86fxtrade offers two main kinds of accounts: the Weekly and Monthly accounts. Each account has different sub-account type.
In the Weekly account, you can choose the Basic, Starter, Deluxe, Executive, and Gold accounts with the minimum deposits of $300, $1,000, $2,000, $3,000, and $4,000 respectively.
Besides, in the Monthly account, there are the Premium, VIP, VIP Luxury, Silver Platinum, Gold Platinum, VIP Gold Platinum, Gold Luxury Platinum with the minimum deposits of $5,000, $75,000, $150,000, $350,0000, $500,000, $750,000 and $1,000,000 respectively. To this end, their minimum deposits are rather high.
| Account Type | Minimum Deposit (USD) | Deposit Bonus | Scalping | Daily Signals | Financial Plan |
| Weekly | |||||
| BASIC | $300 | 10% | ✓ | ✓ | ✓ |
| STARTER | $1,000 | 15% | ✓ | ✓ | ✓ |
| DELUXE | $2,000 | 25% | ✓ | ✓ | ✓ |
| EXECUTIVE | $3,000 | 35% | ✓ | ✓ | ✓ |
| GOLD | $4,000 | 50% | ✓ | ✓ | ✓ |
| Monthly | |||||
| PREMIUM | $5,000 | 75% | ✓ | ✓ | ✓ |
| VIP | $75,000 | 95% | ✓ | ✓ | ✓ |
| VIP LUXURY | $150,000 | 120% | ✓ | ✓ | ✓ |
| SILVER PLATINUM | $350,000 | 145% | ✓ | ✓ | ✓ |
| GOLD PLATINUM | $500,000 | 150% | ✓ | ✓ | ✓ |
| VIP GOLD PLATINUM | $750,000 | 185% | ✓ | ✓ | ✓ |
| GOLD LUXURY PLATINUM | $1,000,000 | 250% | ✓ | ✓ | ✓ |
Leverage
86fxtrade offers leverage up to 1:00. High leverage can lead to significant gains, but it also increases the risk of substantial losses.
86fxtrade Fees
| Account Type | Spreads | Commission |
| Weekly | ||
| BASIC | 1.9 | None |
| STARTER | 1.5 | |
| DELUXE | 1.2 | |
| EXECUTIVE | 1.2 | |
| GOLD | 1.2 | |
| Monthly | ||
| PREMIUM | 1.9 | None |
| VIP | 1.5 | |
| VIP LUXURY | 1.2 | |
| SILVER PLATINUM | 1.2 | |
| GOLD PLATINUM | 1.2 | |
| VIP GOLD PLATINUM | 1.2 | |
| GOLD LUXURY PLATINUM | 1.2 | |
Trading Platform
86fxtrade offers MT5 trading platform. Developed in 2000 by MetaQuotes Software Corporation, the MetaTrader 5 (MT5) platform swiftly became one of the world's most popular trading platforms across desktop, Android, and iOS platforms.
Deposit and Withdrawal
86FXTrade offers credit/debit card payments (Visa, Mastercard), e-wallets (such as Webmoney, Neteller), and Bitcoin for deposits and withdrawals. It does not charge any fees for deposits but charges 2.9% for NETELLER and Skrill withdrawal.
Keywords
- 2-5 years
- Suspicious Regulatory License
- Suspicious Scope of Business
- High potential risk
News
News Regulated in Many Countries? 86FXTRADE is Warned by MFSA
Trading with a forex broker regulated by forex regulators gives investors a sense of security.
2023-01-24 11:00
News WikiFX Broker News: MFSA Warns 86FXTRADE
86FXTRADE has twelve different account types, which is unusual for a registered broker. Furthermore, the fraud promises incredible incentives ranging from 10% to 250%! If accurate, the massive transaction volume is inconceivable when combined with the 1:100 high leverage.
2022-08-18 15:29
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