Beware! FastTimingFX is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
FastTimingFX presents itself as a very good option for investment in financial instruments. But even a basic fact check exposes this website as a low-effort scam, targeting people without enough experience in financial trading. In this review, we’ll look at how to tell the fake brokers from the real financial service providers.
FastTimingFX Regulation and safety of funds
|Guaranteed Funds||Segregated Accounts||Negative balance protection|
|UK regulated brokers||£85 000||Yes||Yes|
|EU regulated brokers||€20 000||Yes||Yes|
|AU regulated brokers||No||Yes||Yes|
|US regulted brokers||Yes||Yes||No|
Legitimate forex brokers provide clear and detailed information about the legal entity that owns and operates them, where it is based, what licences it has and which regulators oversee its activities. Lack of such details or improper presentation of them are always a red flag that we are probably dealing with a scam.
FastTimingFX does not reveal which company is behind the website. No access is provided to the Customer Agreement and other legal documentation required by a legitimate business.
An incomplete United States contact address and even a purported business licence to operate in this jurisdiction is provided. But the document in question is from a non-existent regulatory institution, and instead of a legal entity name, it mentions a brand that is different from that of FastTimingFX – Essentialfx. Presumably this is a leftover from another project by the same fraudsters.
One of the world’s leading financial regulators, the UK’s Financial Conduct Authority (FCA), has issued a warning to investors that FastTimingFX is not authorised:
Under no circumstances should you trust your money to such anonymous websites full of false and contradictory information. Instead, you can turn to one of the many companies that really work under the supervision of respected regulatory bodies like Cyprus Securities and Exchange Commission (CySEC) or Financial Conduct Authority (FCA) in the UK.
As their customer you will enjoy a number of guarantees including negative balance protection and guarantee for your funds if the broker goes bankrupt, which goes up to EUR 20,000 in EU and 85,000 GBP in the UK. Regulations in the UK and EU include some important measures designed to improve investor protection and promote market integrity and transparency, such as transaction reporting. Regulated brokers are also required to segregate their operational funds from the client’s money.
FastTimingFX Trading software
|Analytical tools||Auto trading||Custom indicators||Mobile apps|
|MT4||30+ indicators||✅||✅||Android and iOS|
|MT5||50+ indicators||✅||✅||Android and iOS|
|cTrader||40+ indicators||✅||✅||Android and iOS|
Another clear sign that FastTimingFX is not a legitimate broker is the lack of trading software. FastTimingFX does not have the technical capacity to provide the services it claims to offer.
If you use the services of a licensed broker, you will get the opportunity to use established software with advanced features and versions for all types of devices and operating systems. The most widely used trading platforms in the industry are MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
These platforms have established themselves as industry standard because they offer a wide range of features, including a variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.
FastTimingFX Trading instruments
FastTimingFXF claims to offer cryptocurrency, stock and forex trading. But as has already been demonstrated, this website has neither the legal authority nor the necessary software to make this true.
FastTimingFX Spreads and cost of trading
When you visit the website of a legitimate broker you will find proposals for different types of trading accounts suitable for investors with different preferences, as well as detailed descriptions of trading parameters – minimum deposit, order execution method, tradable financial instruments, leverage, spread, swap, commissions, etc.
This is completely missing from the FastTimingFX website. After registering an account, we get access to a list of investment plans promising secure profits.
A genuine broker will not and cannot promise you guaranteed profits. In fact, licensed companies are obliged by regulators to warn their clients about the high risk of losses when trading financial instruments.
FastTimingFX Maximum leverage
|UK regulated brokers||30:1||5:1||❌||10:1||10:1|
|EU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|AU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|US regulated brokers||50:1||❌||❌||❌||❌|
High leverage creates the opportunity for more significant profit, but correspondingly increases the risk of sudden and excessive losses. All leading regulators therefore restrict leverage for retail traders.
Regulated brokers offer higher leverage only to professional clients who must meet very high standards for capital and experience and forgo the guarantees enjoyed by retail traders.
If you don’t qualify as a professional trader but are willing to take the risk of high-leverage trading, the most viable option is to use the services of an offshore affiliate of an established brand.
FastTimingFX Deposit and withdrawal methods
|Deposit time||Withdrawal time||Price|
|Crypto||24 hours||24 hours||Fee depends on crypto|
Many popular payment methods are advertised on the home page, but we only see cryptocurrencies in the deposit menu.
Experience has shown that fake brokers routinely advertise conventional payment methods, but actually steer their potential victims towards cryptocurrency transactions. This not only guarantees them anonymity, but also deprives the defrauded of the option to request a refund or chargeback.
While there are some legitimate brokers that accept digital currencies like Bitcoin, they do so alongside other transparent payment methods such as credit/debit card, bank transfer or popular e-wallets like PayPal, Neteller or Skrill.
FastTimingFX Minimum deposit
It is not clear what exactly is the minimum deposit required by FastTimingFX – the website mentions amounts such as 500 USD and 1 USD. But with leading brands offering beginner investors Micro and Cent accounts with a token minimum deposit, there’s no good reason to take chances with shady websites like FastTimingFX.
FastTimingFX Withdrawal requirements
|Trading volume||Fee/Tax on withdrawal||Minimum withdrawal|
|FastTimingFX||Not specified||Not specified||Not specified|
|UK regulated brokers||No||No||No|
|EU regulated brokers||No||No||No|
|AU regulated brokers||No||No||No|
|US regulated brokers||No||No||No|
The lack of a publicly available Terms and Conditions or Client Agreement means that scammers may have set many traps such as hidden fees and impossible-to-meet withdrawal terms.