Information about Forex
When searching for basic information about the company on the website, as well as in the client agreement, you will not find data on the founder, registration, licensing, and jurisdiction.
A certificate from a certain Commission for the Control and Regulation of Financial Markets (CCRFM) is presented under number JZ10098. However, the jurisdiction of the issuing authority is not specified, and this document does not replace a license.
The contact page offers an email address [email protected] for communication. There are no contact phone numbers or office addresses.
The company has two versions of the website: English and Russian. The Russian version contains grammatical errors typical of machine translation.
Registration of a personal account in The Forex. Cash
The procedure is standard: you need to fill out a special form and agree to the trading conditions.
To register, you will need to provide the following information:
- Full name,
- Email,
- Mailing address,
- Phone number,
- Date of birth.
When registering, you need to choose a currency: euros or US dollars. It will be difficult to change the currency after selection.
The company has its own platform, but almost no information is provided about it.
Classification of clients in Forex Cash
Standard clients: those who do not have professional skills and have deposited less than 10,000 euros.
VIP clients: ready for independent investment decisions and have deposited from 10,000 to 50,000 €. Enhanced fee and commission conditions, as well as an increase in order limits, are offered to them.
Premium client: a professional who has deposited over 50,000 euros. These clients have access to the highest limits and the lowest commissions.
Payments in Forex Cash
The company charges multiple fees. Standard clients are required to pay 90 euros for account maintenance, while VIP clients pay 50 €. Inactivity by a trader for a month can result in a loss of 50 euros, and for inactivity for 3-6 months, an additional 50 euros, plus additional deductions every 30 days.
Deposits and Withdrawals from The Forex. Cash
Deposits are free, with a minimum amount of 50 euros.
A wide range of deposit methods is offered, including:
- Maestro and Mastercard,
- VISA,
- Qiwi,
- Sofort,
- Neteller,
- UnionPay,
- Yandex.Money.
The minimum withdrawal amount is 100 euros or its equivalent. The withdrawal cost depends on the chosen method. Bank transfer is the most expensive at 40 €. A 5% commission of the transfer amount is charged for withdrawals from a card, e-wallet, or payment system. The client covers all additional expenses for transactions and currency exchange.
Summary about Forex
The company provides extremely limited information about itself and uses a questionable certificate instead of a license. The trading features and platform of the company are not described in sufficient detail. “Broker Tribunal” recommends traders not to rush to invest their money under such conditions.