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Score

1.35 /10
Danger

Element

United States

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

https://elementrader.com/

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Score

Regulatory Index0.00

Business Index5.73

Risk Management Index0.00

Software Index4.00

License Index0.00

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Licenses

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

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Warning: Low score, please stay away! 5
Previous Detection : 2025-05-01
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The United KingdomFCA regulation (license number: 504072) claimed by this broker is suspected to be clone. Please be aware of the risk!

WikiFX Verification

Element · Company summary

Note: Element's official website: https://elementrader.com/ is currently inaccessible normally.

ElementReview Summary
Founded2023
Registered Country/RegionUnited States
RegulationASIC/FSA/FCA (Suspicous Clone)
Market InstrumentsForex, precious metals, oil, indices and cryptocurrencies
Demo Account/
Leverage/
Spread/
Trading PlatformElement Trade platform
Min Deposit/
Customer SupportEmail: support@wamsm.com

Element was registered in 2023 in the United States. It provides many trading assets, including forex, precious metals, oil, indices and cryptocurrencies. However, it is not regulated currently.

Element's homepage

Pros and Cons

Pros Cons
Various trading assetsNot regulated
Relatively new
Lack of transparency

Is Element Legit?

Regulatory Status Suspicious Clone
Regulated by Australia
Licensed Institution AVA CAPITAL MARKETS AUSTRALIA PTY LTD
Licensed TypeMarket Making (MM)
Licensed Number406684
Regulatory Status Suspicious Clone
Regulated by Japan
Licensed Institution Ava Trade Japan K.K
Licensed TypeRetail Forex License
Licensed Number関東財務局長（金商）第1662号
Regulatory Status Suspicious Clone
Regulated by United Kingdom
Licensed Institution AVA Trade EU Limited
Licensed TypeEuropean Authorized Representative (EEA)
Licensed Number504072

Element Trade MT5 claims to be licensed by financial regulators in the UK, Austria, Japan and the US. However, The registration of the UK-based company AVA Trade EU Limited has nothing to do with Element Trade MT5, and the others's license institutions are also different.

Suspicious clone ASIC license
Suspicious clone FSA license
Suspicious clone FCA license

What Can I Trade on Element?

Tradable Instruments Supported
Forex✔
Precious metals✔
Oil✔
Indices✔
Cryptocurrencies✔
Options❌
ETFs❌

Trading Platform

Trading PlatformSupported Available Devices Suitable for
MT4❌/Beginners
MT5❌/Experienced traders
Element Trade platform✔WebExperienced traders

User Reviews

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User comment

4

Comments

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Lysandra Evangeline Donovan
more than one year
Hey fellow traders, just wanted to share my experience with Element. I've been using their platform for a while, and I've gotta say, it's been a pretty good ride! The MetaTrader 5 platform they've got is top-notch – super easy to use with all the cool features you need. I can trade stocks, oil, gold, Bitcoin, you name it, all in one place. The demo account was a lifesaver for me to practice without risking real cash, and it gave me the confidence to jump into live trading.
Hey fellow traders, just wanted to share my experience with Element. I've been using their platform for a while, and I've gotta say, it's been a pretty good ride! The MetaTrader 5 platform they've got is top-notch – super easy to use with all the cool features you need. I can trade stocks, oil, gold, Bitcoin, you name it, all in one place. The demo account was a lifesaver for me to practice without risking real cash, and it gave me the confidence to jump into live trading.
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2023-12-06 14:06
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Aimee
more than one year
Honestly, their MT5 trading platform was surprisingly smooth, no glitches or lags whatsoever. And hey, they even support automated trading, which is a nice bonus. But you know what really ticked me off? Their brokers seemed way too greedy for my liking. They were always pushing me to deposit more and more funds, like they couldn't get enough. Seriously, it rubbed me the wrong way. I mean, come on, give me a break! I'm not some cash cow here.
Honestly, their MT5 trading platform was surprisingly smooth, no glitches or lags whatsoever. And hey, they even support automated trading, which is a nice bonus. But you know what really ticked me off? Their brokers seemed way too greedy for my liking. They were always pushing me to deposit more and more funds, like they couldn't get enough. Seriously, it rubbed me the wrong way. I mean, come on, give me a break! I'm not some cash cow here.
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2023-06-19 16:34
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