Looking for a review of FTUK? Well, buckle up, because this is going to be a wild ride. If you’re reading this, chances are you’re curious about whether this project is a scam or a legit brokerage. Unfortunately, we have some bad news for you. Keep reading to find out more.
- FTUK General Information
- Registration and Client Portal Review
- FTUK Trading Conditions
- Account Types Review
- Trading Platform
- FTUK — Deposit and Withdrawal of Funds
- Verification
- Is FTUK a Scam?
- Legal Information and License
- Ftuk.com Domain Info
- Contacts Review
- More Details
- Pros and Cons
- Frequently Asked Questions (FAQ)
FTUK General Information
| Website | https://ftuk.com/ |
| Phone Number | +44 (20) 8798 2605 |
| support@ftuk.com | |
| Address | Kemp house, 160 City Road, London, EC1V 2NX, United Kingdom. |
| License | — |
| Minimum Deposit | £119 |
| Assets | CFDs |
| Leverage | 1:50 |
| Trading Platform | WebTrader |
Registration and Client Portal Review
FTUK’s website is quite basic, yet comprehensible. The company does not provide any legitimate brokerage services. So it does outline its pricing plans, which is beneficial. It also presents public information about the legal entity, which can facilitate our research. All in all, the website is mediocre and unremarkable, lacking any significant impact or appeal.
To open an account with FTUK, clients need to choose a tariff plan, platform, and addons. Next, you should add everything to the «basket». Then a new tab will appear, where personal information needs to be filled out. Apart from email, personal info, and address, the payment system also needs to be chosen. Then, the first payment needs to be made right away without any verification or even creating a personal FTUK account. This way, the company immediately redirects you to the payment page, and until you transfer the funds, access to the Client Portal will not be granted.
FTUK Trading Conditions
This is an unusual classic broker. Therefore, its conditions are slightly different.
Account Types Review
FTUK offers two programs: Evaluation and Instant Funding. The evaluation program is designed to select profitable traders. Depending on the initial deposit, the account can be credited with virtual funds ranging from $14,000 to $90,000. The trading period cannot exceed 180 days, during which you must show a profit of at least 10% and a drawdown of no more than 5%. The initial deposit varies depending on the risk level — low or aggressive.
As for Instant Funding, it is not described in detail, but it is said to be suitable for those who do not want to go through the Evaluation program. Actually, it’s literally a live account. You can even withdraw profit from it. So FTUK turns out to be not only a prop broker but also a classic one.
Trading Platform
It is clear that FTUK provides both MT4 and MT5 for trading. This is a good solution for traders because these platforms are widely used in the industry and are well-known for their reliability, stability, and versatility. MT4 and MT5 offer advanced charting tools, a variety of technical indicators, and the ability to use automated trading strategies through Expert Advisors. Traders can customize their trading experience by using different types of orders, adding custom indicators, and creating their own trading algorithms.
FTUK — Deposit and Withdrawal of Funds
It is possible to fund your account on the platform using cryptocurrencies. Also, there is an option to make a deposit using bank cards or PayPal. There is a commission for all methods. Even when you deposit through crypto, FTUK charges 5%.
Verification
It is obvious that FTUK accepts traders for the evaluation program without verification. However, we do not know about the personal account verification process.
Is FTUK a Scam?
As you might have guessed we noticed a couple of suspicious facts. We will be happy to share them with you.
Legal Information and License
The question about the regulation of prop brokers is very interesting. In fact, many of them do not offer real trading. For example, the Evaluation program implies that you will be trading with virtual money. However, all of this is true only until it comes to real trading. We remind you that FTUK offers to open a live account and even withdraw profits. In this case, it should have authorization for broker services. And do you know what? Of course, it does not have it.
The company is listed in the UK registry and its activity is written as “agents involved in the sale of various goods”. It is already clear that this company is not authorized by the FCA. How it offers broker services without regulatory documents is a big question.
Ftuk.com Domain Info
FTUK as a legal entity was registered in 2021. However, it filled its official website with content a little later, in 2022. So it turns out that this prop broker is a newcomer to the industry. This explains why there are very few reviews about it.
Contacts Review
You can contact the broker via phone, email, or by visiting their office address. The phone number and email address are listed on their website, and the office address can be found on the same page.
More Details
Collaborating with prop brokers can be risky as they usually are not regulated by financial authorities and are not required to adhere to the same standards and regulations as licensed brokers. This means that there is a higher likelihood of fraudulent activities such as misappropriation of funds, fake trading platforms, and manipulated prices. Also, prop brokers often charge higher fees and offer less favorable trading conditions compared to licensed brokers. Traders who choose to work with prop brokers may be at a greater risk of losing their investments and may face difficulties in pursuing legal action in the case of disputes or fraud.
Pros and Cons
- Officially registered in the UK.
- FTUK is not regulated by any reputable financial authority.
- You have to pay before full registration.
- The fees and commissions charged by the broker are high compared to other regulated brokers.
- Short work period.
- Negative reviews.
Frequently Asked Questions (FAQ)
FTUK offers a prop trading program including Evaluation and Instant Funding program. If you will be successful, then you can get managed capital.
The minimum deposit required to participate is £150, but be aware that additional commissions may apply.
Based on our research, we do not believe that FTUK is a safe company to do business with. It’s a shady prop broker without any regulations.
I need advice. Is FTUK a scam?
Does anyone know anything about this broker? I’m looking for some options and came across some reviews, but they seemed suspicious to me. The same goes for the company itself. Will be grateful.
Rude
I was left puzzled by this project. The support team told me that if I change my mind about trading, I won’t get a refund for the one-time payment. When I asked how to trade on a real account without any regulatory oversight, the manager ignored the question and rudely stated that the company could do without such clients.
I had a terrible experience with FTUK
The conditions they offer are even worse than what is described on their website. It’s practically impossible to fulfill their requirements, and as soon as you make a mistake, they call you and try to upsell you to a more expensive plan. This goes on endlessly, and it feels like they’re just trying to squeeze as much money out of you as possible. I would not recommend this prop broker to anyone.
I had an even funnier situation
I decided to purchase the minimum tariff, transferred my cryptocurrency, and then nothing happened. The support team told me that the transfer did not reach them. I provided them with all the necessary information to confirm the transfer, but they continued to insist on their version. In the end, they suggested that I transfer the money to them again. What a great way to resolve the issue!
I had a terrible experience, too
Their fees and commissions are outrageously high, and they even charge extra for basic features that other brokers include for free. But the worst part of my experience was their customer service. When I had an issue with a trade execution, I tried to contact their support team multiple times, but I was always met with long wait times and unhelpful responses. It was clear that they didn’t value my business at all and were just trying to get me off the phone as quickly as possible. Overall, I would not recommend FTUK as a good prop broker to anyone.
FTUK is a real scammer
I hope this message finds you well. I am writing to inquire about the status of my recent application for the instant program, which I successfully passed a few days ago. Despite my anticipation, I have not received any communication regarding my payout or the promised increase in fund amount, despite thorough checks of both my inbox and junk folder.
I am reaching out to request an update on the following matters:
Payout: Could you kindly inform me when I can expect to receive my payout after successfully passing the program?
Fund Increase: I am seeking clarification regarding the delay in increasing the fund from USD 22,500 to USD 90,000, as clearly outlined in the program details.
Despite my attempts to reach out to support previously, regrettably, I have not received any response. This lack of communication has left me increasingly concerned about the status of my application. I would greatly appreciate a swift response to address these pressing issues.
Moreover, I wish to bring to your attention some additional details. Following the notification of a brokerage firm change by FTUK, I duly cooperated and created a new account with the new broker. Upon surpassing the profit target of 10% of USD 22,500, I expected to receive both my payout and the increase in the fund amount to USD 90,000. However, upon checking the dashboard, I noticed a glaring absence of the option to request a payout withdrawal. Instead, the dashboard simply indicated that my account had successfully passed the test.
Furthermore, my attempts to use the provided credentials on MT5 were futile, as it appears that either the password has been changed or the account terminated. This has left me unable to access the account, with the system indicating that the credentials are invalid.
I am disheartened to suspect that I may have fallen victim to a scam. Despite sending four emails outlining my concerns, there has been no response.
So stay away from this scammer.
FTUK is a real scammer
Warning Signs Regarding FTUK.com (FTUK Inc).
Red Flag #1: Office Address Verification The address provided on FTUK Inc.’s website, 3017 Boiling Way NE Atlanta, GA 30305, United States, seems to correspond to a serviced office space. These locations are known for offering mailing addresses for rent, raising questions about the true physical presence of FTUK Inc.
Red Flag #2: Company Dissolution in the UK A search for FTUK in the UK Companies House database reveals that a company with a similar name, owned by Mr. Haseem Gafer, has been dissolved. This discrepancy casts doubt on the legitimacy of FTUK Inc.’s business operations.
Red Flag #3: Lack of Community Payout Reports Despite diligent searching on Reddit using keywords such as “FTUK Payout,” there is a notable absence of verifiable reports regarding successful payouts, even from individuals who claim to have passed their evaluations. This lack of transparency raises concerns about the program’s integrity.
Red Flag #4: Absence of Payout Functionality The trader dashboard lacks a prominently displayed “Payout Button,” which is typically expected for users to request their earnings. This absence of essential functionality further erodes confidence in FTUK Inc.’s ability to fulfill its payout commitments.
Red Flag #5: Unresponsive Customer Support Efforts to contact FTUK through their designated channels, including the support@ ftuk. com email address, have yielded no response. The lack of communication exacerbates doubts about the program’s legitimacy and reliability.
Conclusion: Potential Scam Alert Considering the culmination of these warning signs, there exists substantial evidence suggesting that FTUK Inc. may be operating in a fraudulent manner. Individuals are strongly advised to exercise extreme caution and conduct thorough due diligence before engaging with this program.