Tradehall is one of those brokers that seem perfect but with that one thing that keeps bugging you. In this case, it’s the offshore branch. That means you must be careful.
In the Tradehall Review, we have provided an unbiased analysis of this broker and what it brings to the table in terms of licenses, trading platforms, instruments, and conditions.
Yes, but we’ll put an asterisk next to it. Tradehall claims it has branches in four countries – the US, Australia, Canada, and Saint Vincent and the Grenadines (SVG).
The broker also says that its owner, the company Tradehall Ltd/Tradehall Pty Ltd, is registered with all the respective financial authorities. However, this isn’t entirely true. We checked the database of the US National Futures Association (NFA). The company isn’t registered.
Moreover, there’s a discrepancy in the ID number of the ASIC registration found on the website and the Australian regulator’s database. Namely, Tradehall claims its registration number is 001282038 but ASIC says Tradehall Pty Ltd’s code is 641 032 402.
The Canadian license is legit, according to FINTRAC’s site, and so is the FSA registration. However, SVG is an offshore domain, and the FSA doesn’t issue Forex trading licenses, which means the SVG Tradehall regulation is meaningless.
Judging by the offered bonuses and extremely high leverage (up to 1:500), we conclude that Tradehall doesn’t adhere to ESMA trading rules. The European regulator banned brokers from issuing bonuses and imposed a leverage restriction of 1:30.
The case of the Tradehall broker is strange. It seems like a classic offshore brokerage but then there are the licenses. Nevertheless, please be careful with Tradehall.
Tradehall is a broker with regulated branches in Australia and Canada and an offshore branch in Saint Vincent and the Grenadines, offering services mainly to US, UK, Australian, Malaysian and Philippine traders.
We managed to track down Tradehall’s activity. Here’s a list of counties where the broker was particularly active:
As we showed, the Malaysian SC issued a warning against Tradehall for providing services while being unlicensed. And it’s clear that the company isn’t registered wit the US NFA.
Tradehall offers two trading platforms – MetaTrader 5 and WebTrader. The former also has a mobile version available on the website.
MT5 is an outstanding platform whereas WebTrader is subpar compared to it. You can check them both out using the Tradehall demo account.
The mobile version of MT5 offers one-click trading. It’s available for both Android and iOS operating systems.
Traders can utilize three chart types, 30 technical indicators, and the full trading history journal, according to the broker’s website. The mobile version is great for trading on the go.
This section refers to the desktop version of MT5. Widely considered the greatest trading platform in the industry, MT5 set standards even higher than its predecessor MT4.
The platform offers algorithmic trading, live market reports, instant execution, in-depth market analysis and more, exerting the full potential of the MQL5 programming language. The download link can be found on the website.
Tradehall also offers a web-based platform. Keep in mind that WebTrader is nowhere near MT5. It doesn’t have advanced tools and options.
Its main features are basic charts and graphs. As such, only absolute beginners can benefit from it.
Here’s a quick overview of the Tradehall trading assets with some examples:
Depending on the account type, Tradehall’s spreads can either be variable standard or variable raw.
Standard implies there are no commissions while raw means the broker charges a certain amount per lot. The exact pip level wasn’t disclosed. Tradehall just said they’re “competitive”.
Tradehall offers three different account types:
Aside from the minimum deposit amounts, the account types differ in the spreads, i. e. standard vs. raw, and the leverage – ECN VIP offers up to 1:100, ECN up to 1:200, and Standard up to 1:500. The trading instruments, minimum trade size and available platforms are the same.
Yes. Tradehall allows clients to open a free demo account and use MT5. For 30 days, clients can practice with virtually unlimited funds.
It’s a great feature, just be careful if you decide to invest real money because real trading carries a lot of risks.
Tradehall offers PAMM (percentage allocation money management) service. Basically, an investor allows all of his/her accounts to be managed by skilled traders, i. e. managers.
These managers perform transactions on behalf of the investor. The generated profit is then split between the manager(s) and the investor. At Tradehall, the profit-sharing agreement between the investor and fund manager is 70:30.
Tradehall offers a deposit bonus of 50% on the initial deposit. What you should know is that ESMA and ASIC both banned brokers from issuing bonuses. On the other hand, US and Canadian brokers allow them.
Offshore brokers issue them regularly but always attach a shady clause to them, which requires traders to reach an insane trading volume with the bonus before being eligible to request a withdrawal. But, Tradehall has no such clause in its legal documentation.
The minimum deposit and withdrawal amount is the same – 100 $. The broker allegedly doesn’t charge any fees. Let’s take a look at the Tradehall withdrawal methods. Apparently, there are only two:
No credit/debit cards? That’s a big disadvantage because you won’t be able to request a chargeback.
Despite being regulated, Tradehall still has some holes in its game. The offshore branch from SVG is undoubtedly risky.
If the broker violated any terms and conditions or if you’re having withdrawal issues, please contact Global Fraud Protection. We have a team of experts with experience in tracing crypto transactions with advanced software such as CipherTrace.
If this broker steals your money, contact us for help. Online Chat is the easiest and fastest way to book a free consultation with us!
Tradehall is registered with ASIC and FINTRAC but lied about the NFA license. If you decide to invest, please be careful.
Yes. Tradehall offers a 30-day free demo account with the MT5 trading platform.
Yes. Tradehall features a mobile app version of MT5.
You cannot be 100% sure about it. Tradehall lied about having an NFA license.
Tradehall is registered with ASIC and FINTRAC but lied about the NFA license. If you decide to invest, please be careful.
Yes. Tradehall offers a 30-day free demo account with the MT5 trading platform.
Yes. Tradehall features a mobile app version of MT5.
You cannot be 100% sure about it. Tradehall lied about having an NFA license.
The post Tradehall Review – Read The Facts About This Broker appeared first on Global Fraud Protection.
