WikiFX Broker Assessment Series | Corsa Futures: Is It Trustworthy?

Background:

Corsa Futures, an online brokerage located at Suite 5, Horsfords Business Centre, Long Point Road, Charlestown, Nevis (KN-N), Saint Kitts and Nevis.

Corsa Futures provides a diverse range of tradable assets, covering currency pairs, stocks, global indices, precious metals, energies, commodities, and cryptocurrencies.

The website of Corsa Futures raises several concerns regarding its transparency and credibility.

Types of Accounts:

Corsa Futures offers two account options: the Standard Account and the Premium Account. Please refer to the attached image below for more detailed information on each corresponding account.

Deposits and Withdrawals:

Corsa Futures offers a variety of payment options, including bank transfers, PayPal, e-wallets, and additional methods.

While the company claims not to impose any commission or fees for deposits and withdrawals, any fees charged by third-party providers are the responsibility of the trading client.

The minimum deposit required is $100, accepted in EUR, GBP, USD, AUD, and NZD.

However, the broker's page on deposit and withdrawal methods lacks crucial information, raising concerns about transparency and indicating potential red flags.

Trading Platforms:

Corsa Futures offers the cTrader platform for trading, which is accessible on PC, mobile, and web. cTrader is equipped with over 55 pre-installed technical indicators, six chart types, and 28 timeframes, providing traders with comprehensive tools for analysis. It features Level 2 Depth of Market (DoM), no restrictions on stop or limit levels, additional pending order types, detachable and linked charts, and 1-click trading from charts. Advanced Order Protection includes sell stop limit and buy stop limit options. The platform is highly customizable, allowing users to add custom cBots and indicators. It also offers a news feed, an integrated economic calendar, market sentiment analysis, custom time zones, and the ability to analyse trade statistics, ensuring a robust trading experience.

Research and Education:

Although the Corsa Futures website features a “Research & Education” link, WikiFX‘s research team discovered that the link is unclickable, making this claim unverifiable. Additionally, while Corsa Futures asserts that it provides three commonly utilized trading tools—the economic calendar, trading calculator, and market news—WikiFX’s research team found that both the economic calendar and market news tools are non-functional.

Customer Service:

Corsa Futures claims to provide 24/5 customer service support. Clients can reach out via email at support@corsafutures.com or by submitting an inquiry through the broker‘s question form. However, the website does not provide a phone number. Although Corsa Futures states that live chat support is available, WikiFX has been unable to locate this feature on the broker’s website.

Conclusion:

To summarize, here's WikiFX's final verdict:

WikiFX, a global forex broker regulatory platform, has assigned Corsa Futures a WikiScore of 1.31 out of 10.

Upon examining Corsa Futures license, WikiFX found that the broker is not regulated.

Additionally, Corsa Futures has been added to Malaysia‘s Securities Commission’s investor alert list, indicating that it is considered an unreliable broker.

It is important to note that any form of red flag should not be taken lightly. The Corsa Futures website lacks many crucial details that trading clients need to make informed decisions. Therefore, WikiFX strongly recommends that users choose a broker with a higher WikiScore for better protection.