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The WikiFX Score of this broker is reduced because of too many complaints!

Carrod Securities

United Kingdom|2-5 years|
White label MT5|Regional Brokers|United States Common Financial Service License Unauthorized|Suspicious Overrun|High potential risk|


Rating Index

MT4/5 Identification

MT4/5 Identification

White Label

Server Name
CarrodSecurities-Demo MT5
Server Location United States

The WikiFX Score of this broker is reduced because of too many complaints!


VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core



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Contact number

Broker Information


Company Name

Carrod Securities Co Ltd

Company Abbreviation

Carrod Securities

Platform registered country and region

United Kingdom

Company website

Pyramid scheme complaint


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Warning: Low score, please stay away! 4
Previous Detection : 2024-06-19
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 10 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • United StatesNFA (license number: 0541770) The regulatory status is abnormal, the official regulatory status is Unauthorized. Please be aware of the risk!
  • This broker exceeds the business scope regulated by United States NFA(license number: 0541770)National Futures Association-UNFX Non-Forex License. Please be aware of the risk!

WikiFX Verification

Carrod Securities · WikiFX Survey

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    Carrod Securities · Company Summary

    Note: Carrod Securities official site - is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

    Risk Warning

    Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

    General Information

    Carrod Securities Review Summary in 10 Points
    Founded N/A
    Registered Country/Region United Kingdom
    Regulation NFA (unauthorized)
    Market Instruments forex currency pairs, oil, metals, and indices
    Demo Account N/A
    Leverage 1:400
    EUR/USD Spread pips
    Trading Platforms MT5
    Minimum deposit $1,000
    Customer Support email

    What is Carrod Securities?

    Founded in the UK, Carrod Securities is a leading independent broker in the trading of foreign exchange, contract for differences and spread game products. The company is registered in the UK and regulated by the American Futures Association (NFA), but the regulatory status is unauthorized.

    In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.

    Pros & Cons

    Pros & Cons
    Pros Cons
    • MT5 supported • Unauthorized NFA license
    • Unavailable website
    • Reports of unable to withdraw
    • Limited trading instruments
    • Single account type
    • High minimum deposit
    • No info on commissions
    • Limited info on deposits & withdrawals
    • Only email support

    Carrod Securities Alternative Brokers

      There are many alternative brokers to Carrod Securities depending on the specific needs and preferences of the trader. Some popular options include:

      • UFX - offers a user-friendly trading experience and a wide range of educational resources, making it suitable for traders who value comprehensive support and educational materials.

      • Trade - provides a reliable trading environment with competitive spreads and access to multiple trading platforms, making it a good choice for traders looking for a trusted broker with diverse trading options.

      • AETOS - offers a range of trading products, competitive spreads, and a strong regulatory framework, making it a reputable option for traders seeking a secure and well-regulated trading environment.

    Ultimately, the best broker for an individual trader will depend on their specific trading style, preferences, and needs.

    Is Carrod Securities Safe or Scam?

    Based on the information you provided, the fact that Carrod Securities is unregulated and has an unauthorized United States National Futures Association (NFA, License No. 0541770) license raises concerns about the legitimacy and safety of the company. Additionally, the unavailability of their website and complaints regarding withdrawal issues further add to the potential risks involved. It is recommended to seek alternative regulated brokers that provide transparent and secure trading environments to ensure the safety of investments.

    Market Instruments

    Carrod Securities offers a range of tradable financial instruments to cater to the diverse needs of investors. Their selection includes forex currency pairs, allowing traders to engage in the dynamic foreign exchange market. Additionally, Carrod Securities provides opportunities for trading in commodities such as oil and metals, enabling investors to participate in the movements of these key markets.

    Furthermore, they offer indices, allowing traders to speculate on the performance of stock market indices from around the world. By offering this variety of market instruments, Carrod Securities aims to provide investors with diverse options for capitalizing on various financial markets and potentially diversifying their investment portfolios.


    Carrod Securities offers a single Standard account type, designed to cater to a wide range of traders, including beginners. With a minimum deposit requirement of $1,000, the account provides access to the trading platform and various market instruments. The minimum trade size of 0.01 lot allows for smaller position sizes, accommodating traders who prefer to start with lower trade volumes.


    Carrod Securities offers a maximum trading leverage of up to 1:400. Leverage is a powerful tool that allows traders to amplify their trading positions and potentially increase their profits. With a leverage ratio of 1:400, traders can control larger positions in the market with a relatively smaller amount of capital.

    However, it's important to note that while leverage can enhance potential gains, it also magnifies potential losses. Traders should exercise caution and have a clear understanding of the risks involved when trading with high leverage.

    Spreads & Commissions

    Carrod Securities offers competitive spreads on various currency pairs. The spread on the popular EUR/USD pair ranges from 0.8 pips to 1.2 pips, indicating relatively tight pricing. Other major currency pairs like AUD/USD 1.0-1.4 pips, EUR/GBP 1.2-1.5 pips, USD/CHF 1.1-1.6 pips, GBP/USD 1.2 -1.8 pips. It's worth noting that spreads can vary depending on market conditions and liquidity.

    However, there is no specific information available regarding commissions charged by Carrod Securities for trading. Traders should consider the spread as the primary cost of trading when evaluating their potential profitability. While a low spread can be beneficial for traders, it's important to also consider other factors such as execution speed, platform reliability, and overall trading conditions when choosing a broker.

    Below is a comparison table about spreads and commissions charged by different brokers:

    Broker EUR/USD Spread Commissions
    Carrod Securities 0.8-1.2 pips Not specified
    UFX 2-4 pips No commissions Trade 0.8 pips No commissions
    AETOS 0.8-2.5 pips No commissions

    Please note that the spread and commission values provided are approximate and may vary depending on market conditions and account type. It is recommended to visit the respective broker's official website or contact their customer support for the most up-to-date and accurate information regarding spreads and commissions.

    Trading Platforms

    Carrod Securities provides traders with the popular MetaTrader 5 (MT5) trading platform, which is available for PC, iPhone, and Android devices. The MT5 platform is known for its advanced features and functionality, making it a versatile and powerful tool for traders. With MT5, traders can access a wide range of financial instruments, execute trades, analyze market trends, and utilize various technical indicators and charting tools.

    The platform offers a user-friendly interface and customizable features, allowing traders to personalize their trading experience according to their preferences. Additionally, MT5 supports automated trading through the use of Expert Advisors (EAs), enabling traders to automate their trading strategies and execute trades based on predefined rules.

    Overall, the MT5 platform offered by Carrod Securities provides traders with a robust and comprehensive trading environment to effectively manage their trades and make informed trading decisions. See the trading platform comparison table below:

    Broker Trading Platforms
    Carrod Securities MT5 (PC, iPhone, Android)
    UFX UFX Trader (WebTrader, MobileTrader) Trade MT4, MT5 (PC, WebTrader, Mobile)
    AETOS MT4 (PC, Mac, Mobile)

    Please note that the trading platforms mentioned above are commonly offered by the respective brokers, but the availability of specific platforms may vary depending on the account type or region. It is recommended to visit the official websites of the brokers for detailed information about their trading platforms.

    Deposits & Withdrawals

    Carrod Securities offers a range of deposit and withdrawal options to facilitate convenient and secure transactions for its clients. The available methods include UnionPay, USDT, and other unspecified options. However, no more specific information can be found.

    Carrod Securities minimum deposit vs other brokers

    Carrod Securities Most other
    Minimum Deposit $1,000 $100

    Customer Service

    Carrod Securities has limited customer support options, which may be a drawback for traders seeking immediate assistance or real-time communication. The only available contact method is through email at However, the absence of phone support or live chat channels means that clients may experience delays in receiving responses or resolving urgent issues.

    Pros Cons
    N/A • No 24/7 customer support
    • No phone or live chat support
    • Limited communication channels
    • Lack of real-time interaction with support team
    • Potential delays in response time

    Please note that the pros and cons listed above are general observations and may vary based on individual experiences and specific circumstances.

    User Exposure on WikiFX

    On our website, you can see that some reports of unable to withdraw. Traders are encouraged to carefully review the available information and consider the risks associated with trading on an unregulated platform. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

    User Exposure on WikiFX


    Based on the available information, Carrod Securities raises several red flags that make it a questionable choice for traders. The company operates without proper regulation, and there are numerous complaints regarding withdrawal difficulties. The lack of transparency and limited customer support options further add to the concerns.

    It is advisable for traders to exercise caution and consider alternative regulated brokers that prioritize customer safety and provide reliable services. Investing with an unregulated and potentially unreliable platform like Carrod Securities carries significant risks, and it is crucial to prioritize the security of funds and the overall trading experience.

    Frequently Asked Questions (FAQs)

    Q 1: Is Carrod Securities regulated?
    A 1: No. Their United States National Futures Association (NFA, License No. 0541770) is unauthorized.
    Q 2: Does Carrod Securities offer the industry leading MT4 & MT5?
    A 2: Yes. It supports MT5.
    Q 3: What is the minimum deposit for Carrod Securities?
    A 3: The minimum initial deposit to open an account is $1,000.
    Q 4: Is Carrod Securities a good broker for beginners?
    A 4: No. It is not a good choice for beginners. Not only because of its unregulated condition, but also because of its inaccessible website and too high initial deposit requirement.

    User Reviews

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    Write a review

    Connie 08
    more than one year
    never ever put money in this broker. they are using man n girl from dating app to get in this broker. they are pretending as a trader. dont trust ppl on online dating app, wechat, telegram or whatapp. all of them from china, thai and Malaysia
    2022-12-11 00:22
    more than one year
    Carrod Securities is manipulative, demanding and forceful and you would not want to go anywhere near them. They have lied about regulation conditions, refused to accept withdrawals, and constantly called.
    2022-12-09 14:38


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