Frankly Trader Fx has been flagged by The Dutch Authority for the Financial Markets for "Fraud and Other Types of Misconduct". The Netherlands Authority for the Financial Markets (AFM) warns consumers not to respond to offers from Frankly Trader Fx. This company is a suspected boiler room, a form of online investment fraud. AFrankly Trader Fx has approached persons without being asked, to offer them investment proposals.... 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.franklytraderfx.us.
After since last summer with Frankly Trader Fx I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Fast deposits|Tax reports included|Detailed reporting
Cons: Charting tools need more indicators
KYC with Frankly Trader Fx is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Risk management tools|Instant funding|API access|Great customer service
Cons: Wait times can be long during peak hours|Charting tools need more indicators
Frankly Trader Fx offers copy trading. I copied a top trader. The copy trades often executed at worse prices than the original. When I asked why they said it was due to latency and liquidity. So the feature is broken or they are skimming. Either way I stopped using it.
Pros: Educational resources|Demo account available
Cons: Research section could be deeper|No dark mode on mobile
I lost a significant amount because Frankly Trader Fx did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: Clean UI|Demo account available|Social trading features|Fast execution
Cons: Help articles are sometimes vague|Could offer more webinars
I was contacted by Frankly Trader Fx through social media. They promised guaranteed returns of 20-30% monthly. Being naive, I invested. The "account manager" pressured me to invest more and more. When I finally tried to take profit, my account was frozen and they stopped responding. Classic Ponzi/advance fee fraud.
Cons: Cannot withdraw funds|Not regulated|Pressure tactics
After doing some research AFTER the fact (I know, I should have done this first), I discovered that Frankly Trader Fx 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.
Pros: Initially responsive customer service
Cons: Cannot withdraw funds|Not regulated|Pressure tactics
I looked into Frankly Trader Fx and found they appear in the regulatory warnings database. The Dutch Authority for the Financial Markets has issued a notice about this firm. Whether this is a misunderstanding or a serious concern, the fact remains that proper due diligence is essential. Always verify the regulatory status of any company before investing your hard-earned money.
Cons: Flagged by international regulators|Due diligence required
Several red flags with Frankly Trader Fx: (1) They promise unrealistically high returns, (2) They're not registered with The Dutch Authority for the Financial Markets, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Cons: Not registered with regulators|Unrealistic promises
I experienced a security concern with my Frankly Trader Fx account and reported it immediately. Their response time was inexcusable for a financial platform. It took them four days to acknowledge my report and another week to actually address it.
Pros: Intuitive for beginners|Multi-currency support
Cons: Email notifications too frequent|No live chat on mobile
After for roughly four months with Frankly Trader Fx, I can only describe the experience as death by a thousand cuts. No single issue was catastrophic, but the constant stream of small problems, slow responses, and missing features wore me down until I finally left.
Pros: Detailed reporting|Professional team|Economic calendar|Good analytical tools
Cons: Desktop app not available on Linux|Could offer more webinars