Casdaq Trading Review Is Legit Or Scam

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Casdaq Trading Review: Is Legit Or Scam? Review: this is the name of a Forex broker that claims to be located in USA and Hong Kong. Is Casdaq Trading a scam Forex broker?

While going through the website, the broker claims to be based in the US and Hong Kong. As we are well aware, all Forex brokers based in USA are to hold licenses from the SEC and NFA. This is mandatory for any legal broker there. We find that the company that owns the broker, CASDAQ TRADING USA, is registered with the Securities and Exchange Commission nor the National Futures Association.

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It is largely discouraging that we start out with exposing the deliberate misinformation on the website. They publish vacancy list for traders seeking to work with them. A demo account is also offered along with a FAQs section.

They claim that with them traders get to make profits. It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

Casdaq Trading Offers Managed Accounts

On the page they also tout their team of experienced traders who are on hand to educate clients. They call themselves “game changers”. They offer managed accounts to traders which is a red flag. Brokers who manage accounts make their money when traders lose. So, in effect they will ensure clients lose money so they can profit, they are also called Market Makers.

Trading Platform of Casdaq Trading

The Trading platform used by the broker is not on a MetaTrader but some web-based platform. we find it discouraging because most of the web-based platforms do not support auto-trading robots.

Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

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These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.

Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.

Trading instruments offered to traders are: not listed but it mentions Forex and CFDS. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

Maximum leverages offered is not also stated. It is a vital detail because while some may seem generous, it can pose danger as well. High leverages can lead to huge loss of funds as well. Spreads are also not stated.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on Casdaq Trading

The means of making payments and withdrawals are not stated also. We find that of e-Wallets are likely to be missing, which is discouraging.

This is because standard and legit brokers make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on.

Minimum deposit required is $500 which is not within the obtainable average of $100 – $250 among brokers. Withdrawals are said to not be allowed until after some specified months and conditions. This is a shady thing to find and discouraging.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Is Casdaq Trading Licensed?

No. Casdaq Trading is not a licensed Forex broker. We find that it mentions a US location but holds not license from the SEC and NFA. Trading with unregulated brokers is dangerous and should be avoided.

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

Casdaq Trading Is a Clone Firm

On the page we find that the broker claims to offer certain trading materials of XTF. This is an illegal use of the information of a legit firm. Many scam brokerages do exactly this same thing, stealing details and parading them as theirs.


To get in touch with the broker or a customer care agent call: +1 347 201 6158 (USA) or +852 5808 2318. Their email address is: [email protected]


It is discouraging to find that Casdaq Trading uses information of another firm illegally. We find that it lacks proper licensing and registration which is necessary for Forex trading. Many trading information that traders normally seek are also missing. It requires a trading deposit that is higher than the average among Forex brokers.



Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

Casdaq Trading review – Is scam or good forex broker?

Casdaq Trading says to be an independent broker, based in Hong Kong and New York, which offers a choice of six, highly profitable, managed trading accounts.

Account type Min. deposit Max. leverage Spread s
Trial Managed Trading Account $500 n/a n/a
Bronze Managed Trading Account $5000 n/a n/a
Silver Managed Trading Account $20 000 n/a n/a
Gold Managed Trading Account $50 000 n/a n/a
Platinum Managed Trading Account $100 000 n/a n/a
Diamond Managed Trading Account $250 000 n/a n/a

And although this may sound like a nice investment opportunity, there are a number of serious questions about the legitimacy of the broker, starting with the fact that their website is virtually anonymous, they have no legit license, they lie about having received a number of international awards, and they offer managed account while acting as market makers.

Casdaq Trading Advantages:

We always try to come up with any possible advantages about a broker we investigate, and yet in the case of Casdaq Trading there is simply nothing that might be of any benefit to their clients.

Casdaq Trading Disadvantages:

Anonymous website, no license

As we already noted, despite the contact addresses in Hong Kong and New York, the Casdaq Trading website is virtually anonymous. We are not sure what is the name of the company behind the broker, nor where it is incorporated.

Besides, if the broker really operates from the U.S. or from Hong Kong, it is supposed to be regulated by the local financial authorities.

In the case of the U.S., a company that wants to provide brokerage services to American citizens should be registered with the U.S. Securities and Exchange Commission (SEC) and should be a member of the National Futures Association (NFA).

And bear in mind that the regulatory regime in America is pretty demanding – a broker should hold at all times an operational capital of at least 20 000 000 USD – the same amount as required to register a bank in Switzerland.

Still, we diligently checked the NFA registers for any trace of Casdaq Trading, Casdaq Trade and CICM(HK)CL (those are all the corporate details available on their homepage), but were unable to find any of them there.

And we tried the Hong Kong Securities and Futures Commission (SFC) as well and the result was the same. So basically what we are talking here is a unregulated, anonymous website that most probably operates as a scam.

Market maker offering managed accounts

Casdaq Trading quite boldly advertise their managed accounts. Here is the problem – despite what they say, as virtually all other brokers, legit ones including, Casdaq Trading is a market maker, which means they make money whenever traders lose. And if a market maker offers to manage your account, obviously it will be in a conflict of interest – they will have the incentive to lose your money in their own pockets.

Unusual withdraw conditions

Bear in mind that if you do deposit money with Casdaq Trading you will not be allowed to withdraw them for months depending on your account type – something that no legit broker will ever do. See for yourself:

With a legit broker you should be able to withdraw your funds whenever you decide, no questions asked.

Falsely claims to be distinguished with international awards

Casdaq Trading claims to have won several broker awards and we decided to check this. It turned out that non of this is true.

Illegally using corporate materials of a legit company

Furthermore Casdaq Trading illegally offers trading materials of XTF – which is a legit global research and advisory firm that evaluates Exchange Traded Funds (ETFs) – in an apparent attempt to mislead investors. Casdaq Trading has nothing to do with XTF.

MetaTrader4 not supported

Casdaq Trading offers a web based trading platform, which lacks many standard features that traders are used to with classical trading solutions like the MetaTrader4. We miss for example the option to run automated trading sessions, as well as some of the advanced charting tools MT4 is equipped with. Here you may check as well our list of brokers offering MetaTrader4:

Casdaq Trading is an obvious scam – a unregulated, anonymous website, offering managed accounts, while acting as a market maker, which on top of that deliberately tries to mislead investors by claiming to be an award winning broker with registration in the U.S. and Hong Kong.

We strongly advise you to avoid dealing with such websites and to trade only with legit brokers, licensed and authorized by reputable financial institutions like the he Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC).

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.

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