Stop now! Elite is a scam trading broker! Your money will not be safe if you are dealing with an unregulated exchange, created in small, laxly regulated countries like this.
Never trade Elite Trade FX
Rating: 2.6/10
Minimum Deposit: 100 USD
Updated to 2020
According to the Elite Trader FX website, this trading broker offers its clients the following types of trading accounts:
Beginners – Newbies Account: Minimum deposit requirement for Beginners is 100 USD. Clients are offered 1:400 leverage and a starting spread of 3 pips.
Positional – Account for Long Term Traders: It is not clear what is the minimum deposit for this account type but the broker exchange offers users leverage up to 1:200 and spreads. starting at 2 pips.
Scalpers – Account for Surfing Traders: It is not clear what the minimum deposit is for this account type, but the broker exchange offers users a leverage of up to 1:200, and the level The starting spread is 1 pip.
Professional – Account for Professional Traders: It is not clear what the minimum deposit is for this account type, but leverage is up to 1:100. Spreads start at 1 pip, along with 8 USD per lot.
- Website URL: https ://elitetradefx.com/
- Established in 2019
- Regulations: Unlicensed
- English language
- Payment Methods: Visa, Maestro, Cash, Wire Transfer, Skrill, Neteller, WebMoney, Bitcoin, PerfectMoney
- Minimum deposit: 100 USD
- Free Demo Account: None
- Number of Assets: None
- Asset Type: Forex and CFD
Accounts and trading conditions
According to the Elite Trader FX website, this trading broker offers its clients the following types of trading accounts:
Beginners – Newbies Account: Minimum deposit requirement for Beginners is 100 USD. Clients are offered 1:400 leverage, and spreads start at 3 pips.
Positional – Account for Long Term Traders: It is not clear what the minimum deposit is for this account type, but the broker exchange offers users a leverage of up to 1:200, and the level The starting spread is 2 pips.
Scalpers – Account for Surfing Traders: It is not clear what the minimum deposit is for this account type, but the broker exchange offers users a leverage of up to 1:200, and the level The starting spread is 1 pip.
Professional – Account for Professional Traders: It is not clear what the minimum deposit is for this account type, but leverage is up to 1:100. Spreads start at 1 pip, along with 8 USD per lot.
Cheap Cloud VPS service, starting at only 3$/mo:
- Register for a 7-day trial: https ://bit.ly/3k39bQI
- Chat Fb: https ://bit.ly/3nOWN95
- Hotline (sms, call, zalo, tele): 0356.95.86.88 (Mr Van)
Advantages of Elite Trader FX
Here are a few advantages of trading with Elite Trader FX:
MT5 . Trading Platform
Elite Trader FX claims that they offer their clients the MT5 trading platform. This is a big plus if that’s true. Due to the inability to access the platform, no one can confirm whether this trading broker actually offers the platform to its customers.
However, it will be a strong point of this broker if they can provide MT5 platform. The platform is an upgrade over the MT4 trading platform, which integrates all the features of the MT4 interface (customizable chart options, trading bots, market indicators, etc.), and at the same time , MT5 provides users with derivatives as well as ETF trading services in the same account.
High leverage
Elite Trader FX offers leverage up to 1:500, which is high enough to satisfy even the most daring traders. One more thing, however, due to the inability to access the Elite Traders FX platform, it is not possible to verify if these leverage levels are correct.
Disadvantages of Elite Trader FX
Here are some of the main reasons why you should not trade with Elite Trader FX. This trading broker may be a scam:
Missing company information, no accompanying regulations
It is known that Elite Trader FX has an office in London. Whether this broker is registered with the UK’s financial supervisory authority has also been verified with the Financial Conduct Authority (FCA).
Not surprisingly, this broker is not FCA licensed in the UK. This means that traders’ funds placed in Elite Traders FX are not guaranteed.
Conflicting Information about Trading Conditions
Elite Trader FX has provided conflicting information about trading conditions on their website. In a part of the website, this trading broker claims that their minimum deposit requirement is 100 USD. However, in another section, they state that the minimum deposit is only 1 USD.
In addition, it is not clear what the minimum deposit requirements are for different account types.
Moreover, the leverage ratio information given by this trading broker is also contradictory. Elite Trader FX claims they offer a maximum leverage of 1:400, but then they give a maximum of 1:500.
No Demo Account
While not having a demo account is not as serious as the fact that the broker is mostly anonymous and the trading conditions are unclear, it is an issue that should be kept in mind. Elite Trader FX does not offer clients demo accounts.
This means that you cannot check the trading conditions without using real money. Legitimate brokers do not do that, they are completely transparent about transaction costs so that customers know exactly what they are paying.
No Terms and Conditions
There are no Terms and Conditions on Elite Trader FX website. This is a red flag because the Terms and Conditions (or Client Agreement) are inherently an important document, showing the relationship between the trading broker and the trader.
Without this document, you will not know what rights you have as a customer of this broker and what responsibilities the broker has to you. This is a clear sign that Elite Traders FX is a gang of scammers, and you should stay away from them.
Subscribe Buttons Not Working
Another shocking thing about Elite Trader FX is that most of the login and registration buttons do not work. You cannot access the MT5 platform, or any accounts.
High spread
This trading broker offers clients extremely high spreads by industry standard, 3 pips. Such a spread is also very detrimental to the trader because the transaction costs will also be extremely high.
No Information about fees
Even with a horizontal scan of the entire website, we still cannot find any information regarding the various fees of Elite Trader FX. This is another worrying sign that this trading broker is not trustworthy.
Conclude
Elite Trader FX is not a trading broker you can trust. All information gathered about this trading broker indicates that this is a scam environment. You should invest your money in a trusted, regulated and more transparent broker.
Review of Elite Trader FX
User Experience 3.5/10
Payment Options2.4/10
Security 2.5/10
Support 2.2/10
Reputation 2.4/10
Advantages
MT5 . Trading Platform
High leverage
Defect
Missing company information, no regulations
Conflicting trading conditions
No Demo account
Subscription buttons not working
No fee information
Looks like you really looked into them! 
Thanks for the warning. By any chance, did you try trading with them also? 