Concorde Investments is a Cypriot based Forex and CFD broker licensed by the CySEC in Cyprus. They are owned and operated by Concorde Investment LTD, located at 4, Pavlou Nirvana Street, Alpha Tower, Office 13, 3021 Limassol – Cyprus. Contact phone number is +357 25 828 300 and email is email@example.com.
In as much as we always want you to use a licensed trading broker, Concorde Investments is not transparent with their pricing, and the firm’s history and relations to notorious people don’t inspire a lot of trust.
- 1 Concorde Investments Review
- 1.1 Concorde Investments Breakdown
- 1.2 Is Concorde Investment Safe?
- 1.3 Third party trading platform
- 1.4 Poor transparency
- 1.5 Concorde Investments License
- 1.6 Are funds safe with Concorde Investments?
- 1.7 Concorde Investments Review Conclusion
- 1.8 Compare Forex Brokers
Concorde Investments Review
Although licensed by one of the respected regulatory agency in Europe, the ambient terrain of Concorde Investments is full of shoddy reputations. Speaking of the people behind Concorde Investments, we also should mention that the notorious – Pavel Krymov was a major shareholder in the company. Krymov has allegedly deceived thousands of investors running several Ponzi-style investment scams (Forex Trend, Questra World, AGAM, PrivateFX, Panteon Finance). He was arrested by Russian police in February 2018.
Also if you think that you can be too careful to sieve out the bad side and focus on their regulatory aspect, you should avoid and be aware that, this broker has an exact clone which is registered offshore in Vanuatu.
Concorde Investments Breakdown
Minimum deposit: $100
Leverage: Max 1: 100
Assets: Forex. CFD, Indices, Oil & Gas, Precious Metals
Support MT4: Available
Is Concorde Investment Safe?
For your safety we use parameters to guess. They major criteria we use in grouping a forex broker in to risk levels include total years in business, which regulatory licenses each firm holds, is the broker publicly traded in any stock exchange as well as our manual in house check.
Although Concorde Investments is a duly licensed broker, their rating is less than 50% which is considered risky. Important trading conditions are not explicit and demo account is not available for us to see. In other words, you’d better select a more reliable broker.
Third party trading platform
The popular Mt4 platform that you see in Concorde Investments and feel excited is provided by a third party broker DubaiFXM. DubaiFXM is registered offshore, in Vanuatu, but seems to illegally target European investors, as Italian financial regulator CONSOB has blacklisted it. We do not always allow our readers to use a tool borrowed from a third party because we cannot guarantee the process.
In order to assess Forex brokers transparency, we download a demo and compare what the tell us with what we actually see.
Concorde Investments’ website lacks information on the most important details of its offer – the spreads. On top of that, the broker does not offer free demo accounts, and that is a huge negative, especially on the part of a licensed broker. We could not actually get enough information that will make us fork out the required minimum deposit of 200 eur.
Concorde Investments License
Here are the Forex Broker Expert, we have reviews of more than 200 Forex brokers and trading software. The number one item we check when reviewing a broker to see if they are a scam is a valid license.
- Concorde Investments is licensed by the Cyprus Securities and Exchange Commission CySEC.
Forex brokers authorized by CySEC have to abide by a number of rules, plus those introduced on a EU level, which provide significant assurance for the security of clients’ funds. These include certain capital adequacy requirements, segregation of clients’ funds, reporting transactions on a regular basis, provision negative balance protection, as well as compensation scheme coverage (to a maximum of €20,000).
Although the broker is regulated n Cyprus, we have some concerns about them and the details which we covered in this review.
Are funds safe with Concorde Investments?
How can funds be safe from a broker who has a shoddy background? Security of funds can’t be guaranteed by a broker who is based borrows tool from an offshore broker. Funds are never secure from a domain that is backed up by notorious names. Are users depositing funds straight to owner’s personal bank account? It seems to be the case. Stay away from this broker!
Concorde Investments Review Conclusion
After checking all the evidence, we are sure Concorde Investments is a scam. Stay away from this broker by ignoring all their pleas to sign up. Adding this broker to our scam blacklist will help protect our readers. Stay away from this broker and sign up with proven entities at all times.
Compare Forex Brokers
How about trading safely with approved brokers who have years of trading experience? Want to make real profits trading? Sign up with credible and dependable Forex brokers who have a solid trading experience. Go for brokers who are tested and come highly trusted by trading experts. Brokers with a proven reputation are what make trading safe and sure. Best brokers are what you need to make stable profits. Make sure to go for transparent brokers at all times.