Thunder Forex Review – Is There Anything That Could Go Wrong?
The first thing we have to mention is that this firm has been active since 2021. For this time, they had plenty of time to get all the licenses they needed for a trusted trading environment. Especially because the company offers services in Europe which is known for quite strict regulations.
If you are still unsure if you should deposit money with this broker, hold on for a second. Read this Thunder Forex Review and make sure not to skip anything. More valuable information is coming.
|Regulated offshore broker
|Active Forex Trading Firm
|Blacklisted as a Scam by:
|Thunder Markets LTD (formerly known as Thunder Forex Ltd)
|Online Trading Platforms:
|CFD Trading Option:
|Yes, you can trade CFDs
|Crypto Asset Trading:
|Available Trading Instruments:
|Forex, commodities, indices, shares, futures, bonds
|Free Demo Account:
|Accepts US clients:
|US traders are not accepted
|Global Fraud Protection Experts’ Verdict:
|Since the company vanished after a warning from the Russian Central Bank it was quite clear our allegations were true. Therefore, don’t miss out on our tips in the future, and contact us immediately if you need funds recovery assistance.
What About Thunder Forex Regulation?
Generally speaking, the company is indeed regulated by the Financial Services Authority (FSA) of Seychelles. However, this firm has been offering services to traders mostly coming from Germany, Austria, Lithuania and others. So, does this offshore regulation mean anything to them? Absolutely not.
Firstly, offshore regulations don’t require companies to have big initial capital deposited. Which means they can go bankrupt quite easily. In those cases, all traders coming from mentioned countries wouldn’t have any compensation scheme whatsoever. That’s why it’s recommended to trade with brokers licensed by FCA, ASIC, or BaFin.
Not to mention there’s a high leverage of 1:400 involved in trading with Thunder Forex broker. Due to the high risks of such leverage, trusted European regulators have limited brokers to offer a maximum of up to 1:30. Lastly, the company has just rebranded recently from Thunder Forex LTD to Thunder Markets LTD. Was it because of a bad reputation or something else, it still remains unknown.
Why Must a Broker Have a License?
A license obligates brokers to pay more attention to clients’ funds’ safety and to follow certain rules to reduce risks. While it’s not possible to entirely eliminate the risk, having regulated leverage certainly helps maintain that risk at a low level.
Once we’ve checked about Thunder Forex regulation, we found nothing. This firm is like many other offshore ones, hiding and avoiding strings.
Thunder Markets Reviews – What Customers Have to Say?
Overall, Thunder Markets regulation should make traders some kind of comfortable to trade with this firm. But never enough as you would be with some top-tier licensed firm. In any case, it appears that the company’s reviews on Trustpilot tell a positive story. There are currently 74 comments and 99% of those look positive.
But if you know something else, we encourage you to leave a comment and share your opinion. In case you need any withdrawal-related consultation with this or any other broker, don’t hesitate to contact our chargeback specialists.
Where is This Broker Active?
Our review has shown that the Thunder Forex trading scam is mainly active in:
As you can tell, all the EU countries. Be careful with Thunder Forex, and don’t fall for the scheme.
Supported Trading Platforms – Available Trading Software
If there’s one good thing, that would be the Thunder Forex trading platform. The broker provides one of the most prominent software, MT4.
MetaTrader 4 Platform
MetaTrader 4 is well-known as a platform with a large number of charts and indicators supporting social trading. This software, along with MT5, is considered the best this industry offers. The interface is user-friendly, and navigating is simple, while even the most demanding traders can find tools for every trading strategy.
However, the issue is when a bad broker offers a good platform. Too high leverage and spread are annulling all the good that comes out of the platform itself, making it risky for you to invest.
iOS and Android Trading
As with any MT4, this one has a mobile app as well. The app enables Android and iOS users to install the platform on their mobile devices and conveniently check all their trades.
Everything About Thunder Forex Trading Accounts
Thunder Forex broker doesn’t have account types per se. It lists all the requirements for you to open a Live account while providing Demo as well.
A demo account can be opened upon providing personal information. Clients will get 10,000 units to trade on the MT4 and test the environment. However, investing virtual money is never the same, as you don’t risk anything. Once you put the real money, your struggle begins.
Live Trading Account
A live trading account requires you to deposit a minimum of $500. You’re entitled to leverage up to 1:400 with a commission of 3 EUR or $3.5 per lot. This minimum deposit is pretty high since the standard is double lower, while some legitimate firms have Micro accounts requiring only $10.
Thunder Forex Range of Trading Instruments & Markets
Thunder Forex offers to invest in the following markets:
- Currency pairs
Oddly enough, cryptocurrencies are not a part of the broker’s offer.
Also remember the names of the LeumInvest , Elcomercio24 and Profit Markets CFD trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!
Thunder Forex Deposit and Withdrawal Methods
Thunder Forex accepts several payment methods, including:
- Wire transfer – min. 500 EUR
- Netller and Skrill for non-EU citizens – 500 EUR
- Credit card – 500 EUR
From this list, it seems that the deposit is not $500 but 500 EUR, which makes a big difference due to fluctuating conversion rate.
Scammed by Thunder Forex Broker? – Tell Us Your Story
If you were a victim of the Thunder Forex scam, it’s time to get in touch. Our chargeback specialists may assist you and help you get a refund.
But What Is A Chargeback?
This is a way for your bank to reverse the fraudulent transaction and get your funds back. Contact us via online chat for more information, and we will be glad to book your first FREE consultation. Take control of your funds, and let’s get them back!
What Is Thunder Forex?
Thunder Forex is an unregulated offshore Forex and CFD trading provider. If you have invested with this firm, contact us for help with a refund.
Is Thunder Forex A Scam Broker?
Thunder Forex is based offshore and has no license to provide financial services.
Is Thunder Forex Available in the United States or the UK?
Thunder Forex is available in the UK and the whole EU, but not in the US.
Does Thunder Forex Offer a Demo Account?
Yes, Thunder Forex offers a Demo account with 10,000 units.