Ferdinandrim review – 5 things you should know about ferdinandrim.com

Beware! Ferdinandrim is an offshore broker! Your investment may be at risk.

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Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

Ferdinandrim boasts that it is one of the largest online brokers in the world, but provides no proof. Actually, fact checking strongly indicates that this is not an authorized financial services provider – Ferdinandrim is yet another online scam. In this review, we’ll show you how to identify scams and make sure the broker you choose is legitimate.

Ferdinandrim Regulation and safety of funds

Ferdinandrim does not disclose which company is behind the website. Even the text of the Client Agreement does not name the legal entity. 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.

Ferdinandrim provides a UK contact address:

But at the same time the Client Agreement references Vanuatu law:

An offshore broker cannot legally operate in a regulated jurisdiction such as the United Kingdom. There is no licensed broker on the UK’s Financial Conduct Authority (FCA) register using the Ferdinandrim brand and domain:

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.

Ferdinandrim Trading software

After registering an account, we get access to a pretty basic web trading platform that doesn’t feature extensive customization options or advanced functionality. We’ve seen the exact same platform being used by multiple fake brokers we’ve encountered. Scammers are using rigged trading software to fool their victims into believing that their money is really being invested and even turning a profit.

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.

Ferdinandrim Trading instruments

The Ferdinandrim trading software includes a large number of instruments from all major asset classes. But we have every reason to suspect that the trading offered by this anonymous website is bogus. It is in your best interest to invest only through established and duly licensed forex brokers. Ferdinandrim offers cryptocurrency trading, which is prohibited for brokers that are truly licensed in the UK.

Ferdinandrim Spreads and cost of trading

In the trading platform, we see a fairly low spread of 0.9 pips for the major currency pairs. But if the trade is fictitious, it doesn’t matter if it looks profitable. Furthermore, Ferdinandrim does not provide information on the availability of additional commissions.

Ferdinandrim Maximum leverage

The Ferdinandrim website advertises leverage up to 1:100, but on the trading platform we see an even higher level of 1:500. This is further evidence that Ferdinandrim is not a regulated broker based in the UK. The FCA, like EU regulators, limits leverage to 1:30 for trading in major currency pairs and even lower levels for more volatile assets. The same rules currently apply to Australia. In the US, the maximum limit is slightly higher at 1:50.

If you are nevertheless willing to take the risk of high-leverage trading and want to take advantage of bonuses, promotions and prize games, the best option is to use the services of offshore brokers operating under an established brand.

Ferdinandrim Deposit and withdrawal methods

The Ferdinandrim deposit menu gives a choice between cryptocurrencies and credit/debit card payments. The second option uses obscure Russian payment processors.

Legitimate brokers typically offer clients a wide choice of transparent payment methods, including bank transfer, credit/debit cards and established e-wallets such as PayPal, Skrill or Neteller.

Ferdinandrim Minimum deposit

Ferdinandrim requires a fairly high initial investment of 1,000 USD. Most leading brands require a minimum deposit of 100 USD or less.

Ferdinandrim Withdrawal requirements

Ferdinandrim does not specify extraordinary conditions for withdrawal. But these types of scams always surprise you with hidden fees and other tricks that prevent you from withdrawing your money back. Often these traps are tied to the bonuses offered.