ELITETRADE LTD has been flagged by Financial Conduct Authority for "Unregistered/Unlicensed entity offering financial products or services". Firm states on website they are registered with The FCA when not - Breach of s24 This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: www.elitetradeltd.net.
I was about to invest with ELITETRADE LTD but decided to check their regulatory status first. They claim to be regulated but I could not find them on any official register. Financial Conduct Authority has actually issued a warning about this firm. Thank goodness I checked before sending any money.
Cons: Listed in warning databases|No transparency|Pressure to invest quickly
After doing some research AFTER the fact (I know, I should have done this first), I discovered that ELITETRADE LTD is not authorized by any legitimate financial regulator. They are operating illegally. The website looks very professional but it's all a facade. Please check the regulatory warnings database before investing with ANY company.
Cons: Cannot withdraw funds|Not regulated|Pressure tactics
After spending for a couple of months now trying to make ELITETRADE LTD work for me, I have given up. The platform has too many limitations, the fees are not competitive, and the quality of their market data is questionable. There are much better options available.
Pros: Fast execution|Intuitive for beginners|Smooth onboarding
Cons: No dark mode on mobile|Search feature is basic
Do not believe the bonus offer from ELITETRADE LTD. The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited through a forum discussion and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.
Pros: Economic calendar|Good analytical tools
Cons: No dark mode on mobile|Account statements could be more detailed
The reporting at ELITETRADE LTD is laughably bad. Tax documents are inaccurate, transaction histories have gaps, and trying to export data for your accountant is a nightmare. For a financial platform, getting the numbers right should be the bare minimum.
Pros: Easy to use platform|Transparent fees|Reliable uptime
Cons: Wish they had more educational resources