Carta Forex is a CFD broker specializing in providing trading services for financial derivatives such as forex, precious metals, crude oil, indices, and cryptocurrencies. The official domain was registered on August 3, 2024. The platform primarily serves retail and institutional clients and offers online trading services for various financial products. It does not serve regions where doing so would violate local laws or regulations.
Company Registration and Regulatory Status
The content publicly available on Carta Forex's website claims it is one of the top 50 financial services companies in the UK, operating under the trade name "Fx-cartage," with its headquarters located at 286 Euston Rd., London. However, the company does not disclose its full name, corporate registration number, or relevant regulatory license numbers on the website. Additionally, there are no detailed terms of service or other relevant legal documents available on the site.
Upon investigation, no company named "Fx-cartage" is registered with Companies House in the UK, nor is it regulated by the Financial Conduct Authority (FCA) according to their website. Furthermore, Carta Forex's web design and content are highly similar to those of known scam broker websites such as uysltd.com, bcgmarkets.com, and APOLLO Markets Ltd, all of which use the same template design.
Trading Products and Services
Carta Forex offers trading in various financial derivatives, including but not limited to:
- Forex Trading: The platform provides trading services for various major forex pairs such as EUR/USD, USD/CAD, GBP/USD, and USD/JPY.
- Precious Metals Trading: Offers spot trading in precious metals including gold (XAUUSD) and silver (XAGUSD).
- Crude Oil Trading: Provides trading services for US crude oil (USOIL).
- Index Trading: Tradable indices include the Nikkei 225 (N225), German Index (GER30), and S&P 500 Index (US500).
- Cryptocurrency Trading: Provides trading in various cryptocurrency pairs such as Bitcoin (BTC/USD), Ethereum (ETH/USD), and Ripple (XRP/USD).
Account Opening Process
To open a trading account on Carta Forex, follow these steps:
- Visit the official website and click the "Register" button in the top right corner to enter the registration page.
- Fill in your name, phone number, and email address, and set a password.
- Upload both sides of your ID and submit the account application form to complete the account registration.
- After successful registration, users must complete full KYC verification before they can deposit funds and start trading.
Account Information
Carta Forex only discloses some account information on its website, such as spreads, trading leverage, and contract sizes. However, it does not clearly list critical trading information such as account types, trading commissions, minimum/maximum trading volumes, maximum position/order sizes, margin call/stop-out levels, or minimum price precision.
- Base Currency: USD
- Spreads: Variable spreads, minimum of 1 pip
- Trading Leverage: 1:100
- Contract Size: 1 lot = 100,000 currency units
Trading Platform
Carta Forex claims to offer the MT5 trading platform, supporting both desktop and mobile versions. However, the broker FXCartage found on MT5 has its official website listed as fxcartage.com, not cartaforex.com.
Deposits and Withdrawals
Carta Forex does not clearly list the supported deposit and withdrawal methods, associated fees, or minimum deposit/withdrawal amounts on its website.
Summary and Recommendations
Traderknows reminds investors that Carta Forex is a scam broker website without an actual company entity and lacks any regulatory oversight. The platform has very low information transparency, and its contact is limited to email, lacking other reliable communication channels. Therefore, investors are advised to choose brokers with transparent information, regulation by authoritative bodies, and a good reputation to avoid potential financial losses.
Currently, this broker is labeled as "Suspected Fraud" on Traderknows.
