Before you put money into Citynationfx-trading.com, a site that says it offers a full range of stock and CFD trading services and calls itself a real ECN/STP broker. Citynationfx-trading.com has different types of accounts like MICRO, STP, ECN, and CRYPTO and works with popular trading platforms such as MetaTrader 4, MetaTrader 5, and TickTrader. It attracts people with its low trading costs, offering very low spreads and commissions starting at $1.50 per lot for ECN accounts, aiming at traders who want to save money. Also, Citynationfx-trading.com says it works well with many trading strategies, including high-speed trading, scalping, and using expert advisors (EAs). Our review goes into detail about what it claims to offer, its services, and how trustworthy it is to help people decide if they should invest.
Review of Citynationfx-trading.com
Citynationfx-trading.com was launched on August 20, 2023, and presents itself as an established player in the online trading space with features like auto-trading, However, there are important aspects potential investors need to consider carefully before committing their funds.
Auto-trading, while appealing for its promise of hands-off investment and potential profits, carries inherent risks. These systems can be unpredictable and may not always perform as expected, leading to significant financial losses. Therefore, the allure of automated trading should be weighed against these potential downsides.
Upon closer inspection of the Citynationfx-trading.com website, several issues become apparent. Notably, many of the links on the site do not work. This is concerning because functional links are fundamental to a website’s operation, helping users navigate and access important information. The presence of broken links suggests the site might not be fully operational or ready to support trading activities effectively.
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This lack of readiness can be a red flag for anyone looking to trade on a reliable and user-friendly platform. Another critical point of concern is the platform’s lack of transparency regarding its licensing status. Legitimate trading platforms typically provide a license number issued by a reputable regulatory authority. This license serves as proof that the platform adheres to certain standards and regulations designed to protect investors. The absence of such a license on Citynationfx-trading.com raises questions about its legitimacy and whether it operates under the necessary regulatory oversight. Without this assurance, investors’ funds may not be adequately protected, adding another layer of risk to the investment.
In summary, while Citynationfx-trading.com may offer enticing trading options and features, the risks associated with its auto-trading functionality, the operational readiness reflected by non-functional website elements, and the absence of a regulatory license suggest potential investors should proceed with caution. It’s important to thoroughly research and consider these factors before deciding to invest in the platform.
Contact Information for Citynationfx-trading.com
Contacting Citynationfx-trading.com is challenging, raising doubts about its reliability. Key points include:
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- Email: No email address is provided, which is unusual for legitimate sites and a potential red flag indicating a lack of transparency.
- Phone Number: The phone number +1 (202) 499 1628 is given for WhatsApp chat support but isn’t listed on their website, an unconventional approach that questions its authenticity.
- Social Media: The absence of any social media accounts is concerning, as these platforms are essential for customer engagement and validation in the digital age.
These issues suggest caution is warranted. The absence of an email, the peculiar phone support method, and no social media presence may indicate that Citynationfx-trading.com is not as reputable as it may claim.
Red Flags for Citynationfx-trading.com Users
- Phone Number Issues: Citynationfx-trading.com does not list a phone number on its website. When inquired through chat support, they provided a number (+1 (202) 499 1628) and requested contact through WhatsApp. This lack of direct phone support on the website and reliance on WhatsApp for communication is unconventional and raises questions about transparency and professionalism.
- Non-functional Website Backlinks: The Citynationfx-trading.com website contains backlinks that do not work, indicating a lack of maintenance or attention to detail. This can be a sign of a poorly managed or potentially unreliable platform.
- No License Provided: Citynationfx-trading.com has not provided any license information. For trading platforms, having a regulatory license is crucial, as it assures users of the platform’s compliance with financial regulations and standards of operation. The absence of such information is a significant concern.
- Auto Trading Without Risk Disclosure: Citynationfx-trading.com offers auto-trading features but does not disclose the associated risks. Auto trading can significantly increase the risk of loss, especially if the algorithms used are not transparent or tested. Legitimate platforms usually provide detailed risk disclosures to inform users adequately.
- Negative Reviews: Citynationfx-trading.com There have been negative reviews about this website. This feedback from users or reviewers can reflect the experiences of those who have interacted with the platform, often highlighting issues with service, reliability, or trustworthiness.
These red flags suggest that potential users should proceed with caution and conduct thorough research before engaging with Citynationfx-trading.com. The combination of communication issues, lack of transparency, regulatory oversight, and negative user experiences could indicate risks that are not immediately apparent.
CitynationFXTrading’s Account Plans
Citynationfx-trading.com provides a variety of trading account options to cater to different types of traders. Each account type offers specific features and conditions.
- Micro Plan
Commissions: No commissions are charged.
Currency Pairs: Offers trading in 28 currency pairs.
Deposit Requirement: A minimum deposit of 100 USD is required to open a Micro Plan account.
- STP Plan
Commissions: This plan also comes without any commission charges.
Currency Pairs: Traders can access 50 currency pairs.
Deposit Requirement: Opening an STP Plan account requires a minimum deposit of 1,000 USD.
- ECN Plan
Commissions: Charges a commission starting from 1.5 units per lot.
Currency Pairs: Provides access to trade in 50 currency pairs, similar to the STP Plan.
Deposit Requirement: Details regarding the minimum deposit for the ECN Plan are not provided
- CRYPTO Plan
Commissions: Imposes a commission rate of 0.25%.
Crypto Pairs: Offers trading in 43 cryptocurrency pairs, catering to traders interested in the crypto market.
Deposit Requirement: Information about the minimum deposit for the CRYPTO plan is not mentioned, focusing instead on the commission structure suitable for cryptocurrency trading.
These accounts are structured to accommodate traders with varying levels of experience and capital, from beginners looking to start with small investments to experienced traders focusing on larger volumes or specific markets like cryptocurrencies.
On September 20, 2023, the following complaint was filed with the BBB (Better Business Bureau) regarding a cryptocurrency scam at citynationfx-trading.com by a person who reported being scammed for $93:
I was informed that I could earn money by investing in Bitcoin. The funds were transferred via Cash App, and an account was created on a website to monitor my trade balance. I was advised to wait three days before I could withdraw my money. However, before receiving this advice, I had already attempted to withdraw my funds. Leonardo Aubertine, the person who created this platform, contacted me via Facebook. He noticed my attempt to withdraw money prematurely and informed me it was too soon, then proceeded to request additional funds. I asked for my money back and to be dissociated from the website, but he continued to demand more money. Subsequently, I attempted to reach out to customer service through the website. Here is the transcript of the conversation I had: “***** ****** Support joined the chat at 12:27 PM, promptly thanking me for contacting the company admin. When I expressed my desire to be removed from the site and to have my account deleted immediately, the response was that it would require a deposit of $50. I refused, citing that their terms did not mention such a requirement. I threatened to file a report against them. In response, they claimed all my information had already been submitted to the FBI by 12:33 PM, attempting to intimidate me by suggesting I did not understand the gravity of the situation with the company. Despite their claim of trying to help, they accused me of being stubborn and ended with a veiled threat.
The scammer’s email address was reported to be email@example.com.
Citynationfx-trading.com offers a variety of trading accounts and features that could attract different traders, from beginners to experienced ones looking for ECN or crypto trading options. However, the platform’s attractiveness is significantly reduced by several concerns. These include the lack of clear contact information, issues like broken website links, no information on licensing, worries about the auto-trading feature without clear risk warnings, and negative feedback.
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These issues together mean that potential users should be very careful with Citynationfx-trading.com. It’s important to do thorough research and careful checks before putting any money into the platform, as its reliability and trustworthiness are not clear.
If you are a victim of online scams, please let us know by commenting below, and if you have lost a significant amount of money, do not lose hope. We can help you recover your funds!