Quick Links

• Our Review Method

• Is TouchTrades Scam or Legit Broker?

• What is TouchTrades?

• Conclusion

Our Review Method ▲

In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding TouchTrades due to the issues we've identified.

Is TouchTrades Scam or Legit Broker? ▲

Trading with TouchTrades is not recommended and poses significant risks. Our detailed investigation into the broker reveals that it operates without the necessary regulatory approvals, making it highly suspicious and likely a fraudulent entity. Despite claiming a business address in London, TouchTrades does not hold a license from the Financial Conduct Authority (FCA) in the UK, a critical oversight given that all financial entities within the UK are mandated to be regulated by the FCA to offer their services legitimately.

• Registered in: Absence of Registration

• Type of License: None

• Is TouchTrades safe to trade: No

• Recommended Licenses: FCA in the UK & ASIC in Australia

The lack of a legitimate regulatory license raises significant concerns about the safety of trading with TouchTrades. Engaging with an unlicensed broker exposes traders to numerous risks, including the potential loss of funds, as there are no regulatory safeguards in place to protect traders' interests.

What is TouchTrades? ▲

TouchTrades presents itself as a pioneering financial services provider, offering a comprehensive array of online brokerage, investing, and banking solutions designed to be user-friendly and competitively priced, as stated on their website. The firm claims to operate from London but notably lacks the crucial FCA licensing required for UK-based financial investment companies. TouchTrades invites potential investors to register on their website and open an account, promising access to trading opportunities in stocks, commodities, indices, and the forex market via the MT4 trading platform.

• Warnings from Regulatory Bodies: TouchTrades has come under scrutiny from regulatory authorities following complaints from traders. The firm has been officially blacklisted and received a warning from CONSOB, the Italian regulatory body, in April 2018, regarding its unauthorized investment services.

Given the absence of regulatory oversight, we strongly advise against entrusting your funds with an unregulated entity like TouchTrades. The risk of never recovering your investment is significantly higher, and the lack of licensing indicates a disregard for client protection and legal operating standards.

Conclusion ▲

In the vast landscape of Forex brokers, many operate within the bounds of legality, offering competitive trading conditions and safeguarding traders' interests through strict regulatory compliance. We strongly advocate for choosing a broker that is regulated by reputable authorities such as the FCA in the UK or ASIC in Australia.

• TouchTrades Update: Further to our investigation, we have found that the TouchTrades website is no longer active, indicating that the broker has ceased its trading services. Despite this, we urge traders to remain vigilant and steer clear of any offers or propositions that may arise from this entity or similar unregulated brokers.

In summary, the lack of regulatory oversight, combined with complaints and official warnings from regulatory bodies, underscores the importance of avoiding TouchTrades. For those seeking a reliable trading partner, it is essential to select a broker that adheres to stringent regulatory standards, ensuring a safe and fair trading experience.