ANSWER E-Fxtrade is not a licensed or regulated broker even though it states offers that look good to be true. E-Fxtrade claims to be a regulated and trustworthy broker and presents its business certificates from the United States on its website. However, business certificates do not have the legal force to offer forex services that are subject to relevant regulations issued by regulatory bodies. As per United States law, US residents and citizens are only permitted to operate with CTFC- and NFA-regulated forex brokers. Firms and individuals, who need to possess the relevant regulations issued by the National Futures Association (NFA) or the Commodity Futures Trading Commission (CFTC), will be allowed to solicit or approach US citizens. However, we did not find any match results to E-Fxtrade in the above two regulatory bodies. The truth is, E-Fxtrade is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like E-Fxtrade and trade with licensed brokers.
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