The Australian Securities & Investments Commission (ASIC) has issued a warning against FTO Capital for “selling” services it cannot actually provide as described on its website. The warning was published after FTO Capital was reported to have made unsolicited calls or sent emails about investments, financial advice, credit and/or loans even though it does not hold a current Australian Financial Services (AFS) licence or an Australian credit licence. It is, therefore, not authorized to operate in Australia. ASIC advises that it “could be involved in a scam.”
FTO (Financial Tradings Online) Capital, a forex broker, opened in March 2017. It is owned and operated by Nona Marketing Ltd., whose address is Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands, MH 96960. Its UK phone number is +44-208 068 2565, and its contact email address is: firstname.lastname@example.org.
The web site further clarifies that:
Albius Ltd., 53-55 Totleben Blvd, Sofia, Bulgaria is the entity where the merchant has an additional permanent location and conducts business activities in Europe. These business activities do not include an investment and ancillary services but do include decision making on distribution of the services when a client deposits funds to Nona Marketing Ltd. This location in EU furthermore where those accountable for the distribution decide what or how products are sold or distributed by Nona Marketing Ltd. to its clients.
The FTO Capital site is available in English and Russian.
The site employs the MetaTrader4 trading platform, which is available as desktop software and in a web-based version. Mobile apps for Android and iPhone are also available. The MT4 software includes advanced user-friendly tools that enable users to analyze prices, manage and place trades and employ trading techniques so as to generate a faster execution.
FTO Capital offer a variety of assets for trading, including all popular forex pairs, CFDs for European and American stocks, as well as major commodities such as gold, silver, crude oil, and corn.
FTO Capital provides bonuses to new traders, but clients are advised to review their terms and conditions because the acceptance of bonuses can affect the ease of withdrawals.
To guarantee security, FTO Capital employs strong firewalls and encrypts all data sent and received by its client. All Transactions, without exception, follow Level 1 PCI compliance services. Each client’s identity is also thoroughly verified in order to prevent identity theft.
In addition, trading servers operate from SAS 70-certified server centers. Client funds are fully segregated from the operating funds of the company and are deposited in established banking institutions.
There do not appear to be differentiated account types. The WebTrader platform is a uniform, user-friendly, platform that provides unlimited access to the financial market. The platform is available with any we browser or device connected to the internet. No installation is required.
The minimum deposit at FTO Capital is a relatively high $250. The leverage levels provided vary based on the account type. All the ratios, starting from 1:200, are quite suitable for serious trading, which involves risk management.
Islamic accounts free of overnight interests and commissions are available. A demo account allows new clients to practice trading without risking actual money.
Payments can be made using Visa, MasterCard, Maestro, American Express, or a variety of e-teller and e-wallet services.
The FTO Capital site features an extensive “education” section that is comprised of articles, e-books, courses, videos, and tutorials. A separate news section is updated daily and also includes a quarterly rundown on a number of popular traded companies. An FAQ page provides additional information.
Basic customer support can be requested by email or by submitting an online request.
FTO Capital is not a licensed broker.