Table of Content
Tradereview Review – Reasons to Avoid This Scam Broker
Table of Content
Tradereview Review, we evaluated another bogus brokerage firm – Traderereview. This phony broker is operated and owned by Globalteers Ltd, based in the Marshall Islands. It claims to have HQs in several top financial destinations but no proof of it. Likewise, neither of these two companies is licensed or regulated.
Aside from lying and operating illegally, this financial swindler is exposed by the Canadian financial market regulator. Lastly, the trading platforms and conditions of the Tradereview broker are as advantageous as this fraudster. Please go through the following Tradereview review and read all the reasons to avoid this scam broker.
|Headquarters||Marshall Islands, Ireland, UK, Switzerland, Canada|
|Broker Type||Forex provider|
Is Tradereview A Legit Broker? Regulation and Security
In terms of regulation, Tradereview is nowhere close to being a legit broker. As an unlicensed brokerage firm, it can’t guarantee the safety of your funds. Moreover, as an outright trading scam, it compromises your financial security twice as much.
In this context, its holding company, Globalteers Ltd, is registered in the Marshall Islands, one of the jurisdictions with weak legislation on financial markets. What is more, Tradereview is allegedly headquartered in the UK, Ireland, Switzerland, and Canada.
However, this is just a baseless statement. Even if it is supposedly the case, it does not hold the required licenses by the British FCA, Irish CBI, Swiss FINMA, or any Canadian financial authorities. Not only it lacks trading credentials, but it is blacklisted by OSC (Ontario Securities Commission).
By comparison, a legitimate forex provider is able to secure your investment by adhering to strict regulations and implementing a range of risk management measures. For instance, negative balance protection prevents you from losing more than you invest (i.e., safeguarding you from market volatility). Similarly, segregated funds keep a trader safe from adverse events (i.e., broker’s insolvency).
Furthermore, brokerage companies accredited by FCA, FINMA, and BaFin, among other tier-one financial market regulators, are considered exceedingly trustworthy since traders are protected by compensation schemes going up to 100,000 EUR.
Overview of the Tradereview Trading Software
Regarding trading platforms, Tradereview offers three — a web trader, computer software, and a trading app. However, don’t let this fool you.
First, both downloadable platforms (for desktop and mobile) are not safe considering the status of this broker. The fact that its mobile application isn’t available on Google Play and Apple Store is suspicious.
So, don’t download anything from the Tradereview untrustworthy website. As for its web trader, this browser-based platform is limited since offers trading on the internet only. In addition, it comes with basic features that can’t deliver success.
By contrast, the latest trading programs (MT4, MT5, Sirix, cTrader) ensure positive outcomes with stop loss, copy trading, expert advisors, fast execution, and other leading-edge tools.
Account Types Provided
In the matter of trading accounts at Tradereview, there are three types outlined below.
- Silver: leverage 1:200
- Gold: leverage 1:300
- Platinum: leverage 1:400.
As you can notice, this bogus broker is not transparent about trading conditions related to real trading accounts. So, there is missing info on the minimum required deposit, spreads, and trading commissions.
In any case, we are sure that these terms are unfavorable. As to the leverage ratio, it is too high (i.e., risky for non-professional traders) and against legislation (i.e., leverage is limited for retail traders in many jurisdictions, e.g., 1:30 in the EU and the UK).
Besides, this broker scam doesn’t offer a demo account, which is expected. Let me say in passing that this option is offered by every legit broker, allowing traders to test the trading environment for free.
On the subject of what can be traded at Tradereview, this illicit broker reportedly offers plenty of trading instruments across the following financial markets.
- Currency pairs: EUR/USD, GBP/CAD, AUD/CHF;
- Indices: FTSE 100, DAX 30, Hang Seng;
- Shares: Apple, Google, Microsoft;
- Commodities: silver, natural gas, cocoa;
- Crypto: Bitcoin, Ethereum, Tether.
No matter what this fraudulent broker professes, it can’t be trusted. Rather than taking chances with Tradereview, the safest option is to trade with legitimate forex providers. If you need help with choosing the right one, you can contact our company for assistance.
With respect to how you can transfer money to and from accounts at Tradereview, before everything, you should be aware that there are no money withdrawal guarantees with unlicensed brokers.
Speaking of funding methods, this unscrupulous broker claims to accept VISA, Mastercard, and wire transfers. However, it is less probable because these payment methods are safe and reversible. For this reason, scam brokers like Tradereview insist on crypto payments that are hard to charge back. Anyway, avoid depositing with this and similar fraudsters.
How Do I Recoup the Funds I Lost to Tradereview?
So, if the Tradereview scam has defrauded you, it is good that you can get your money back. Since this fraudster doesn’t support credit/debit cards and bank transfers (means of payments that can be canceled) and requests deposits in digital currencies, you must turn to cyber security experts for help. In that vein, you can get in touch with our chargeback specialist to assist you with retrieving your stolen funds.
Additionally, don’t fall for fake Tradereview reviews fabricated to rope you into investing. Also, don’t forget to inform the relevant authorities and share your negative experience to warn others.
At the end of this Tradereview broker review, let’s recap the key points. Despite its claims, Tradereview is not authorized to render services anywhere.
Furthermore, it is an investment scam debunked by the Canadian OSC. Apart from this, this trading scam provides substandard and unsafe trading programs. In the same way, it deceives traders with empty promises of segregated accounts and negative balance protection.
Overall, Tradereview carries a huge risk to all traders and should be avoided at all costs.
FAQs About Tradereview Broker
Is Tradereview A Good Broker?
No, Tradereview is far cry from a good broker. It is a bogus brokerage firm that will rip you off.
Is My Money Safe at Tradereview?
No, your money can’t be safe at Tradereview because it is an unlicensed and unregulated broker.
What Is The Minimum Deposit for Tradereview?
The minimum required deposit at Tradereview isn’t revealed. In any case, it is most likely a hefty sum.