Concordeinvestments.com Review Is Concorde Investments A Scam

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Concorde Investments Review – is it scam or safe?

Trading Accounts and Conditions

Trading account Min. deposit Max. leverage Spread
Discovery €200 1:100 N/A
Silver €1 000 1:100 N/A
Gold €5 000 1:100 N/A
Premium €10 000 1:100 N/A
VIP €25 000 1:100 N/A

Concorde Investments is a Cypriot forex broker that offers its clients 5 account types, however demo ones are not available. Although the broker is regulated n Cyprus, we have some concerns about them and the details will be highlighted below in this review.

Concorde Investments Advantages

Licensed in Cyprus

Concorde Investments is owned and operated by Concorde Investments (Cyprus) Ltd. (previously Skopalino Finance Ltd.) – a firm authorized and regulated 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).

Access to MT4, solid leverage

Another advantage of this broker is that it uses the industry leading MetaTrader4 (MT4) platform, along with a web-based interface which looks like Sirix.

The MT4 is user-friendly, easily customizable, has great charting options, and is especially popular for its automated trading bots (Expert Advisors). This is the reason why most traders know well and enjoy using this trading terminal.

Furthermore, the broker leverage of up to 1:100 to retail clients classified as professional, and that is another possible benefit for those willing to risk more and using higher leverage ratios. That being said, we have to mention that ESMA’s product intervention measures envisage a leverage cap of 1:30, however most brokers found a way to circumvent this rule.

Concorde Investments Disadvantages

Trading costs not announced on website, no demo accounts

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. Investors have the right to know what are the prices of the services provided to them, which means typical spreads, commission fees (if any), roll-over, etc.

Related to shady offshore broker DubaiFXM and to a notorious scammer

We couldn’t test Concorde Investments’ MT4, however we saw that it is provided by another brokerage – DubaiFXM. It is registered offshore, in Vanuatu, but seems to illegally target European investors, as Italian financial regulator CONSOB has blacklisted it. We also noticed that the websites of DubaiFXM (www.dubaifxm.trade) and Concorde Investments have the lay-outs, similar contents, and even the logos of the two brokers are very much alike, so we suppose that they are run by one and the same people.

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So, if you are opening an account with Concorde Investments, make sure you are contracting the CySEC-licensed entity, and not the offshore one. Otherwise, you won’t be covered by the Investor Compensation Fund, nor have the overall security provided by the CySEC license.

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 2020.

Urges clients to install TeamViewer and AnyDesk

We also saw that Concorde Investments urges clients to install TeamViewer and AnyDesk, which is a bit risky in our view. Such software allows anyone to access your PC from another station, essentially taking as another user, which can be devastating to your private information like bank account passwords, credit card information etc. Simply put, if you provide an ill-minded broker with your log-in details, all your online accounts could be drained.

Conclusion

Although Concorde Investments is a duly licensed broker, we cannot rate it highly. They are not transparent with their pricing, and the firm’s history and relations to notorious people don’t inspire a lot of trust. In other words, you’d better select a more reliable broker. Here is a list of companies that are also licensed in Cyprus:

And finally, here are the highlights of the present review of Concorde Investments:

Urges clients to install TeamViewer and AnyDesk

Pros Cons
Licensed in Cyprus Trading costs not announced on website, no demo accounts
Access to MT4 Related to shady offshore broker DubaiFXM and to a notorious scammer
Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Australia, Cyprus ASIC, CySEC MT4, MT5, Iress $100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Australia, Singapore FCA, ASIC, MAS, BaFin MT4, Web,
ProRealTime,
2Dealer
$0 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website

Traders` reviews for Concorde Investments

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