Battle Trade, run by Tetris Group Ltd from the Commonwealth of Dominica, is not your friendly and reliable broker. On the contrary, its sole intention is to draw you in using sweet talk and defraud you.
Read the Battle Trade Review carefully to find out how the financial swindler operates. Spoiler, it’s not pleasant at all.
Battle Trade is essentially an offshore investment scam. We couldn’t find any data on Tetris Group Limited or Battle Trade broker on the website of Dominica’s regulator, the FSU. There’s no Battle Trade regulation.
The company isn’t even registered. That makes any business potentially dangerous. Without a regulator to oversee things, the broker could disappear with your funds and leave you without compensation. You cannot count on the ombudsman’s help either.
It’s better to trust Tier 1-licensed brokers that operate onshore under the jurisdiction of the UK’s FCA, Australia’s ASIC or the European Securities and Markets Authority (ESMA).
Battle Trade is an unregulated offshore broker, supposedly from the Commonwealth of Dominica, that’s been deceiving traders from the United Kingdom, the United States, Canada, Australia and Germany since September 10, 2021.
There’s no Battle Trade reputation. It’s all fake and the broker is fraudulent. We didn’t find an official address on the website. That’s an immediate red flag.
It seems that Tetris Group Limited is also behind three more illicit brokers – Clyde Trade, Upper Trade & Sierra Invest.
Since September 10, 2021, Battle Trade has been after traders from the following countries:
You’ll notice that these are all heavily regulated countries. Battle Trade violated a lot of rules and laws by offering services without a license.
The most notable warning was the one from CONSOB, so we wouldn’t exclude Italy from the list of crime scenes as well.
On Trustpilot, we found a couple of complaints about the broker. They were all in Italian, confirming our fears about victims from Italy.
We roughly translated one of the reviews to point out another instance of Battle Trade breaking the law. Namely, the broker demanded that this poor victim pay a “tax” in advance before a withdrawal.
That’s illegal; brokers can charge you withdrawal fees but they cannot ask you to pay more money before performing your withdrawal.
In a year or so so far I have paid a total sum of €7,000, I have a total sum of approximately €24,000 to withdraw to my trading profile which they are unwilling to release unless I pay another 16% deposit [TAX]…
The Battle Trade trading platform is Battler Trader, which is basically a browser-based terminal with limited features and no advanced tools such as automated trading.
Traders have elementary charts and graphs at their disposal. Trading itself is very rudimental. Battle Trade doesn’t support any third-party platform such as MT4, MT5 or cTrader.
The website is misleading. The BattleTrader platform is accessed via a browser. Thus, it doesn’t require downloading.
Regardless of whether you have Android or iOS, you can use the platform, but we don’t recommend it.
Same thing. All you need is an internet connection. The PC version of any platform is superior to mobile versions if you ask us.
Nevertheless, safety comes first. If you trust Battle Trade, an unregulated broker, you could lose all your profits made on the platform.
“Support instruments”? Right… Don’t fall for this cunning trick. The purpose of these apps isn’t to help you but rather damage you even more.
AnyDesk & TeamViewer allow one user to gain access to someone else’s PC. If you allow Battle Trade to access your desktop, the fraudster will undoubtedly look for any data related to your finances.
Our guess is that Battle Trade uses all sorts of online methods to attract potential victims. Google ads, Facebook & Instagram posts, YouTube, marketing campaigns, LinkedIn ads, private WhatsApp & Telegram chats, dating apps, you name it.
Or, the broker might call traders directly to present fraudulent offers over the phone. We saw scammers repeatedly sending emails too.
Battle Trade advertises the following trading assets and instruments:
Spreads for the EUR/USD pair start at 3 pips. That’s terrible for the trader and beneficial for the broker. The industry’s standard is 1.5 pips. The leverage cap is 1:100, well above the legal limit in Europe (1:30) or in the US (1:50).
Battle Trade says it offers the “lowest commissions”, whatever that may mean. Was it so hard to write down numbers?
Legit brokers earn from commissions, which is why they explicitly outline them. Of course, this is just a lure to make you trade with Battle Trade.
Here are the Battle Trade trading accounts:
Once the scammer gets that initial deposit, you may as well say goodbye to your funds. The 500 $ minimum deposit is too much. You can find licensed brokers that require just 10 $ to get you started with a micro-account.
We checked the website and found no demo account option. This means you have to open a live account straight away to trade.
That’s where the situation gets worse. Opening a live account puts all your funds at risk. This is especially dangerous for beginners.
The only two ways to deposit and withdraw funds from Battle Trade are:
The problem is that all payments go through a shady third-party processor called abncbp.com. We don’t think the Battle Trade withdrawal policy is true. Judging by the reviews, Battle Trade doesn’t allow withdrawals.
If you’re having withdrawal issues, that means you’ve already been scammed. Based on Global Fraud Protection’s findings, you’re not the only victim of Battle Trade scam.
But don’t despair, we’re willing to help you. We’ll hook you up with our team of experts that specialize in bank chargebacks and crypto tracing. No transaction can elude the neat CipherTrace tool.
If this broker steals your money, start the chargeback procedure. Book a free consultation with us using Online Chat, the fastest and easiest way!
Battle Trade has been blacklisted. Don’t invest! If you did, call us so we could start the chargeback process together.
No. There’s no free demo account option on the Battle Trade login page.
Battle Trade claims to offer an app but its platform is browser-based, i. e. doesn’t need an app.
No. Several traders have fallen victim to this scam. Battle Trade stole their money.
Battle Trade has been blacklisted. Don’t invest! If you did, call us so we could start the chargeback process together.
No. There’s no free demo account option on the Battle Trade login page.
Battle Trade claims to offer an app but its platform is browser-based, i. e. doesn’t need an app.
No. Several traders have fallen victim to this scam. Battle Trade stole their money.
The post Battle Trade Review – Be Wary Of This Risky Fraud Broker appeared first on Global Fraud Protection.
