Thunder Forex is an online trading Forex and CFD provider looking pretty solid. From the website itself, we may conclude the company pays good attention to the provided information and trading offers in general. However, it’s yet another offshore firm, so a few questions are to ask.
| 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 About Thunder Forex Regulation?
While some brokers go offshore to lower taxes or be able to provide financial services to a broader spectrum of clients, some are deciding to do so simply because offshore regulation is either non-existing or very loose.
Thunder Forex is a brand of Thunder Forex Ltd from Seychelles, and from all we can see, it doesn’t follow regulatory rules when it comes to leverage or keeping funds in segregated accounts.
In addition, we strongly advise you not to invest inRoicraft,ZMarket Global andOriginInvest fraudulent brokers.
Why Must a Broker Have a License?
A license obligates brokers to pay more attention to clients’ funds’ safety and to follow certain rules to reduce risks. While it’s not possible to entirely eliminate the risk, having regulated leverage certainly helps maintain that risk at a low level.
Once we’ve checked about Thunder Forex regulation, we found nothing. This firm is like many other offshore ones, hiding and avoiding strings.
Traders’ Reviews About Thunder Forex
Of course, reviews cannot be good when the broker is not legitimate. Clients complain about withdrawal issues, account managers extorting the funds, too high leverage against regulatory standards, and more.
Where is This Broker Active?
Our review has shown that the Thunder Forex trading scam is mainly active in:
- Germany
- Lithuania
- Portugal
- Switzerland
- Austria
- Cyprus
As you can tell, all the EU countries. Be careful with Thunder Forex, and don’t fall for the scheme.
Supported Trading Platforms – Available Trading Software
If there’s one good thing, that would be the Thunder Forex trading platform. The broker provides one of the most prominent software, MT4.
MetaTrader 4 Platform
MetaTrader 4 is well-known as a platform with a large number of charts and indicators supporting social trading. This software, along with MT5, is considered the best this industry offers. The interface is user-friendly, and navigating is simple, while even the most demanding traders can find tools for every trading strategy.
However, the issue is when a bad broker offers a good platform. Too high leverage and spread are annulling all the good that comes out of the platform itself, making it risky for you to invest.
iOS and Android Trading
As with any MT4, this one has a mobile app as well. The app enables Android and iOS users to install the platform on their mobile devices and conveniently check all their trades.
Everything About Thunder Forex Trading Accounts
Thunder Forex broker doesn’t have account types per se. It lists all the requirements for you to open a Live account while providing Demo as well.
Demo Account
A demo account can be opened upon providing personal information. Clients will get 10,000 units to trade on the MT4 and test the environment. However, investing virtual money is never the same, as you don’t risk anything. Once you put the real money, your struggle begins.
Live Trading Account
A live trading account requires you to deposit a minimum of $500. You’re entitled to leverage up to 1:400 with a commission of 3 EUR or $3.5 per lot. This minimum deposit is pretty high since the standard is double lower, while some legitimate firms have Micro accounts requiring only $10.
Thunder Forex Range of Trading Instruments & Markets
Thunder Forex offers to invest in the following markets:
- Currency pairs
- Commodities
- Indices
- Shares
- Bonds
Oddly enough, cryptocurrencies are not a part of the broker’s offer.
Also remember the names of the LeumInvest,Elcomercio24 andProfit Markets CFDtrading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
Thunder Forex Deposit and Withdrawal Methods
Thunder Forex accepts several payment methods, including:
- Wire transfer – min. 500 EUR
- Netller and Skrill for non-EU citizens – 500 EUR
- Credit card – 500 EUR
From this list, it seems that the deposit is not $500 but 500 EUR, which makes a big difference due to fluctuating conversion rate.
Scammed by Thunder Forex Broker? – Tell Us Your Story
If you were a victim of the Thunder Forex scam, it’s time to get in touch. Our chargeback specialists may assist you and help you get a refund.
But What Is A Chargeback?
This is a way for your bank to reverse the fraudulent transaction and get your funds back. Contact us via online chat for more information, and we will be glad to book your first FREE consultation. Take control of your funds, and let’s get them back!