Carrod Securities Review

About Carrod Securities

Carrod Securities Co Ltd is not registered with the Financial Conduct Authority (FCA) in the United Kingdom and holds no valid regulatory license from recognized authorities; sources report absence from FCA registers and no legitimate NFA authorization—its claimed US-based NFA license number 0541770 is listed as unauthorized (). The Autorité des marchés financiers (AMF) in Québec issued a warning on January 4, 2023, stating that Carrod Securities Co Ltd is not registered and not authorized to solicit investors in Québec; the warning lists domains carrodsecurities‑ltd.com and carrodsecuritiescoltd.com (). The Canadian Securities Administrators include Carrod Securities Co Ltd on an active investor alerts list, effective January 10, 2023 ().

The broker advertises the trading platform MetaTrader 5 (MT5), with a minimum deposit reported at US $1,000 and maximum leverage noted as 1:400, according to WikiFX data (). Numerous user reports indicate consistent withdrawal failures, requests for additional “tax” payments, frozen accounts, and lack of customer service response, describing Carrod Securities as a scam ().

Who it’s for

• There is no identifiable legitimate audience; the broker lacks proper regulation and transparency, posing high risk to any potential client.

Pros and cons

Pros

• Offers trading via MetaTrader 5 platform.

Cons

• No valid regulatory authorization (not FCA‑registered, NFA license unauthorized).
• Official investor warnings issued by AMF (Québec) and inclusion on Canadian Securities Administrators’ investor alerts list.
• Documented user complaints detailing withdrawal blockages, demands for extra payments, and frozen accounts.
• High minimum deposit (US $1,000) and elevated leverage (1:400) increase client exposure to risk.