Overview of Futura
Futura, established in China in 2017, is a trading platform offering users access to various financial instruments. The platform supports trading in multiple assets, including forex and commodities. With a user-friendly MetaTrader 4 (MT4) platform, Futura provides competitive spreads and leverage, attracting both novice and experienced traders.
However, its notable disadvantages include the absence of regulatory oversight, potentially raising questions about user protection. Despite this, Futura's various account types, multiple payment options, and competitive features position it as a trading option for those willing to navigate the platform's strengths and limitations.
Is Futura legit or a scam？
Futura operates without regulation from any authority. The absence of regulatory oversight can impact traders on the platform, as it implies a lack of external checks on the platform's practices. Without regulatory safeguards, traders may face uncertainties regarding the transparency and fairness of Futura's operations.
The absence of regulatory guidelines may lead to potential risks related to investor protection, market manipulation, and overall platform reliability. The regulatory status, or lack thereof, of Futura may influence traders to carefully assess the associated risks before engaging in transactions on the platform.
Pros and Cons
Pros:
MT4 Platform:
2. Multiple Payment Options:
Futura supports various payment methods, including bank transfers, credit cards, and e-payments, providing users with flexibility in funding their accounts according to their preferences.
3. Varied Account Types:
Traders can choose from different account types, such as the Classic Account and the Professional Account, allowing them to tailor their trading experience based on their expertise and financial capacity.
4. Competitive Spreads (As low as 0 PIPS):
5. Leverage up to 1:1000:
Cons:
Lack of Regulatory Oversight:
2. Customer Support Issues:
3. Reported Issues with Stop-Loss Notifications:
4. Lack of Educational Resources:
Market Instruments
Futura offers a wide range of trading assets across multiple markets, providing both established options and niche opportunities.
Traditional Assets:
Forex: Major and minor currency pairs are available for trading,serving to both beginner and experienced forex traders.
Commodities: Crude oil, precious metals, and other primary commodities provide exposure to economic trends and potential diversification benefits.
Indices: Major global indices, like the S&P 500 and Euro Stoxx 50, allow traders to capture broad market movements.
Stocks: A selection of individual company stocks from various sectors and regions accommodates specific investment strategies.
Alternative Assets:
Cryptocurrencies: Major digital currencies like Bitcoin and Ethereum are on offer, serving those seeking exposure to the burgeoning crypto market.
ETFs: A range of Exchange Traded Funds covering various asset classes and investment themes broaden portfolio diversification options.
Options: Access to options contracts on various underlying assets unlocks advanced trading strategies and risk management tools.
Account Types
Futura offers two distinct account types to accommodate varying trader preferences and needs.
The Classic Account requires a minimum deposit of $100, providing traders with a leverage of up to 1:500. Spreads on this account type typically hover around 1.5 pips, and it operates on a no-commission model. This account type may be suitable for entry-level or less capital-intensive traders seeking a straightforward trading experience without incurring additional commission fees.
On the other hand, Futura offers the Professional Account tailored for more seasoned and well-capitalized traders. This account type demands a higher minimum deposit of $10,000 but provides a significantly higher leverage of 1:1000.
Traders opting for the Professional Account can benefit from spreads that can be as low as 0 pips, and like the Classic Account, it operates without commission charges. The Professional Account is suitable for experienced traders who may require higher leverage and are comfortable dealing with larger deposit amounts.
How to Open an Account？
Visit the Futura website: Access the official Futura website to initiate the account opening process. Navigate to the designated section for account registration.
2. Choose Account Type: Select the preferred account type based on your trading preferences and financial capacity. Futura offers options such as the Classic Account and the Professional Account.
3. Complete the Registration Form: Fill out the registration form with accurate personal information, including your full name, contact details, and residential address. Ensure the information provided aligns with any identification documents you may be required to submit later.
4. Verify Identity: Fulfill the identity verification requirements by submitting the necessary documents. This typically involves providing a valid government-issued ID, proof of address, and any additional documentation requested by Futura to comply with regulatory standards.
5. Fund Your Account: Once the verification process is complete, fund your trading account. Futura specifies a minimum deposit requirement for each account type, so ensure you meet the financial criteria associated with your chosen account.
6. Start Trading: With a funded and verified account, you can begin trading on the Futura platform. Familiarize yourself with the trading tools, market analysis, and other resources provided to enhance your trading experience on the platform.
Leverage
Futura offers varying maximum leverage depending on the chosen account type.
For the Classic Account, traders can access a maximum leverage of 1:500. This means that for every $1 in the trader's account, they can open a position equivalent to $500 in the market.
On the other hand, the Professional Account provides a higher maximum leverage of 1:1000, allowing traders greater flexibility in managing larger positions with a comparatively smaller amount of capital.
Spreads & Commissions
Futura imposes distinct spreads and commission structures for its two account types.
The Classic Account, requiring a minimum deposit of $100, typically features spreads around 1.5 pips, and it operates on a no-commission model.
In contrast, the Professional Account, suitable for more experienced traders with a minimum deposit of $10,000, offers potentially lower spreads that can be as minimal as 0 pips, and it also operates without commission charges.
While the Classic Account is suitable for entry-level traders seeking simplicity and cost-effectiveness with no additional commission fees, the Professional Account is suitable for a more seasoned user group willing to commit a higher initial deposit in exchange for the potential benefit of tighter spreads in their trading activities.
Trading Platform
Futura utilizes the MetaTrader 4 (MT4) trading platform, a widely recognized and established platform in the financial industry. MT4 is known for its user-friendly interface and robust features, providing traders with a range of tools for market analysis and execution of trades. The platform supports a variety of order types, including market orders, limit orders, and stop orders, allowing users to implement various trading strategies.
One notable feature of MT4 is its advanced charting capabilities, offering various timeframes and technical indicators for in-depth analysis. Traders on the Futura platform can access real-time market data, historical price charts, and perform technical analysis to make informed trading decisions. Additionally, MT4 supports automated trading through the use of Expert Advisors (EAs), enabling traders to automate their strategies and execute trades even when they are not actively monitoring the markets.
As a widely adopted platform, MT4 also facilitates the integration of third-party plugins and tools, providing further customization options for traders. While the platform's interface may vary slightly among brokers, the core functionalities remain consistent. Traders choosing Futura for their trading activities can benefit from the familiarity and reliability associated with the MT4 platform.
Deposit & Withdrawal
Futura offers various payment methods, including bank transfers, credit cards, and e-payments, to accommodate user preferences. Bank transfers provide a traditional, secure option, while credit cards offer a convenient and swift deposit process. E-payment methods, such as electronic wallets, provide a digital and efficient means of transferring funds. Each method may have unique processing times and potential fees.
Minimum deposit requirements vary based on the chosen account type.
The Classic Account has a $100 minimum deposit, suitable for entry-level traders.
In contrast, the Professional Account requires a higher $10,000 minimum deposit, serving more experienced traders with a larger capital commitment.
These options enable traders to select an account type aligned with their financial capacity and trading goals.
Customer Support
Futura's customer support, accessible through info@futuraytfx.com, has been reported by users to exhibit notable shortcomings. Traders have expressed dissatisfaction with the responsiveness and effectiveness of the support team. Issues such as delayed responses, lack of clarity in addressing queries, and difficulty in resolving technical or account-related issues have been reported.
Some users have found the customer support experience to be subpar, impacting their overall satisfaction with the platform.
These negative aspects raise dissatisfactions about the platform's commitment to providing reliable and efficient support to its user base.
Exposure
Traders have expressed disappointment with their exposure to Futura.
One user's trading experience involved a lack of immediate notifications when their stop-loss triggered compared to other brokers, leading to dissatisfaction. This issue occurred more than once, raising questions about the platform's efficiency and communication regarding critical trading events.
Such experiences can impact user confidence and trust in Futura, highlighting potential drawbacks in the platform's responsiveness to trading activities.
Conclusion
In conclusion, Futura presents a trading platform with distinct advantages and disadvantages. On the positive side, the company offers a user-friendly MetaTrader 4 (MT4) platform, providing traders with familiarity and robust features for market analysis. The availability of multiple payment options, varied account types, and competitive spreads, especially in the Professional Account with spreads as low as 0 pips, serves a wide range of traders, from novices to seasoned investors. Additionally, the higher leverage of up to 1:1000 in the Professional Account enhances flexibility in managing positions.
However, notable disadvantages include the absence of regulatory oversight, potentially impacting user confidence in the platform's adherence to industry standards. Customer support issues, reported delays, and insufficient clarity in responses pose challenges for users seeking prompt and effective assistance. The limited educational resources further limit the platform's support for traders looking to enhance their knowledge and skills.
FAQs
Q: What is the minimum deposit for a Futura Classic Account？
A: The minimum deposit for a Classic Account with Futura is $100.
Q: How much leverage does the Futura Professional Account offer？
A: The Professional Account provides a maximum leverage of up to 1:1000.
Q: Which trading platform does Futura use？
A: Futura utilizes the MetaTrader 4 (MT4) trading platform.
Q: What payment methods can I use for deposits on Futura？
A: Futura supports bank transfers, credit cards, and e-payment methods for deposits.
Q: Is Futura regulated by any authority？
A: No, Futura currently operates without regulatory oversight.
