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Thunder Forex Broker Review
Thunder Forex is a supplier of online Forex and CFD trading that appears to be rather reliable. We can infer from the website that the business pays close attention to the information offered and trading offers in general. But since it’s another offshore company, certain questions need to be raised.
Broker status: Unregulated
Regulated by: Offshore scam brokerage
Websites: thunderforex.com
Blacklisted as a Scam by: N/A
Owned by: Thunder Forex Ltd
Headquarters Country: Seychelles
Foundation year: 2021
Supported Platforms: MT4
Minimum Deposit: $500
Cryptocurrencies: No
Types of Assets: FX, commodities, indices, shares, bonds
Maximum Leverage: 1:400
Free Demo Account: Yes
Accepts US clients: No
What Are the Regulations for Thunder Forex?
Some brokers choose to operate overseas merely because offshore regulation is either non-existent or very lax, while others do so in order to reduce taxes or be able to serve a wider range of clients.
According to what we can tell, Thunder Forex, a brand of Thunder Forex Ltd. based in the Seychelles, does not adhere to regulatory requirements regarding leverage or the storage of funds in segregated accounts.
Why is a license required for brokers?
Brokers who hold licenses are required to pay closer attention to the security of client funds and to abide by particular guidelines to lower risks. Although the danger cannot be completely eliminated, having regulated leverage helps keep the risk at a manageable level.
When we looked into Thunder Forex regulation, we discovered nothing. This company hides and avoids strings as many other offshore businesses do.
Reviews of Thunder Forex from traders
Reviews obviously cannot be positive if the broker is a fraud. Customers complain about difficulties with withdrawals, account managers demanding money, excessive leverage that violates regulatory requirements, and other concerns.
Where does this broker operate?
According to our analysis, the Thunder Forex trading scam primarily operates in:
- Germany
- Lithuania
- Portugal
- Switzerland
- Austria
- Cyprus
As you can see, every nation in the EU. Thunder Forex should be used with caution; avoid falling for the scam.
Supported Trading Platforms – Software for Trading
The Thunder Forex trading platform would be considered the only positive aspect. The broker offers MT4, one of the most well-known pieces of software.
Platform for MetaTrader 4
The MetaTrader 4 platform is well-known for its abundance of charts and indicators that allow social trading. This program is regarded as the greatest that the market has to offer, along with MT5. Even the most discerning traders may find tools for all trading strategies thanks to the user-friendly layout and straightforward navigation.
The problem arises, though, when a poor broker provides a strong foundation. It is unsafe for you to invest because of the excessive leverage and spread that cancel out all the positive aspects of the platform itself.
Android and iOS Trading
This MT4 features a mobile app as well, just like any other MT4. Users of Android and iOS smartphones can download the platform and simply check all of their trades using the app.
All Information Regarding Thunder Forex Trading Accounts
There aren’t really different account kinds at Thunder Forex Broker. It provides both Demo and a list of all the prerequisites you must meet in order to register a Live account.
Demo Account
Upon entering personal data, a demo account can be opened. 10,000 units will be given to clients so they can test the MT4 trading platform. Virtual investments, however, are never the same because there is no risk involved. Your battle starts as soon as you invest actual money.
Trading Account Live
You must fund a live trading account with a minimum deposit of $500. Leverage up to 1:400 is permitted, and there is a commission of 3 EUR ($3.5) per lot. The standard is twice as low as this minimum deposit, and some trustworthy businesses provide Micro accounts that just need $10.
Thunder Forex’s Selection of Trading Tools & Markets
Following markets are available for investment with Thunder Forex:
- Currency pairs
- Commodities
- Indices
- Shares
- Bonds
Oddly enough, the broker’s offer does not include cryptocurrency.
Methods of Deposit and Withdrawal for Thunder Forex
Several payment options are accepted by Thunder Forex, including:
- Wire transfer – min. 500 EUR
- Netller and Skrill for non-EU citizens – 500 EUR
- Credit card – 500 EUR
From this list, it appears that the deposit is actually 500 EUR rather than $500, which is a significant amount given the constantly changing exchange rate.
What Is Thunder Forex?
Thunder Forex is an unlicensed offshore provider of Forex and CFD trading. Contact us for assistance obtaining a refund if you have invested with this company.
Thunder Forex is situated overseas and lacks a financial services license.
There are definitely good reasons to be wary of the services offered by brokers Thunder Forex.
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