Fantex is an online trading provider that says you can trade the most profitable assets. Moreover, they help their customers with more than ten years of experience and bear responsibility. The website information, which can be found at www1.fantex.co, reads accordingly.
On its website, Fantex talks about offering outstanding trading conditions and a secure trading environment. Accordingly, bitcoin and other assets such as currency pairs(forex trading), shares or gold and crude oil can be traded at Fantex.
In addition, there are several thousand customers who use the Fantex platform and move millions. They are offered simple trading methods on an industry-leading trading platform. In addition, there are three protection mechanisms to protect clients’ funds. On the Fantex homepage, some arguments in favour of the offer are in the foreground:
- high standards for data protection and security,
- Protection against negative account balances,
- transparent fees,
- easy-to-use trading platform,
- instant order execution,
- no commissions or additional costs,
- mobile trading via apps,
- current news and financial events.
Investors can choose between four different account types for trading on the provider’s platform:
- Classic: minimum deposit 250 US dollars/euro, leverage of up to 30:1
- Gold: minimum deposit 20,000 US dollars/euro, leverage of up to 30:1
- Platinum: minimum deposit 50,000 US dollars/euro, leverage of up to 30:1
- Premium: minimum deposit by arrangement, leverage of up to 30:1
Is the company subject to the control of a European supervisory authority?
As of April 2021, it is not clear from the website whether the service provider is regulated and supervised by a European supervisory authority. Therefore, it is not necessarily to be assumed that the provider has the licences required for business operations in the European Economic Area.
What information can be found about Fantex?
Fantex – Financial Markets Authority issues warning in trading context
In February 2021, the FMA, Austria’s financial supervisory authority, published a warning on this topic. The issue is that Fantex or Felicity Group Ltd is not authorised to carry out banking transactions requiring approval.
This is because the provider is not allowed to trade for its own account or for the account of third parties.