Trading with Tradereview is not a good idea. This broker is based offshore and is not licensed to provide Forex trading services.
You’ll find a detailed analysis of this fraud in the Tradereview Review. Please read it before agreeing to any fraudulent offer this broker offers you.
Yes, the Tradereview regulation doesn’t exist. This broker is run by a shady offshore company called Globalteer Ltd from the Marshall Islands, i.e. an offshore domain where the local financial authority (GLOFSA) doesn’t have proper Forex trading regulations.
Therefore, Tradereview is basically unlicensed and unauthorized to operate in onshore domains. Our suggestion is that you ditch this phony broker and find a licensed operator.
Brokers operating under the jurisdiction of the European Securities and Markets Authority (ESMA) are a safe bet. We recommend brokers licensed by Tier 1 regulators such as the FCA, BaFin, FINMA, ASIC, etc.
Tradereview is an unregulated scammer from the Marshall Islands that has been blacklisted by Canada’s OSC & CSA, and Italy’s CONSOB. This broker has defrauded traders from the UK, US, Canada, India, and Poland.
If you fall for the fine-looking website, you’ll get a good impression of the Tradereview reputation. However, this broker is not reputable at all, far from it.
We didn’t find an official address on the website, just phone numbers for the UK, Switzerland, Ireland and Canada. No verifiable physical address is a bad sign.
This crooked con artist was caught sneaking around in a heavily regulated domain that is Canada. And of course, two local regulators immediately issued official warnings against Tradereview.
As mentioned, this financial swindler has tried to infiltrate some heavily regulated domains. Here’s a list of countries where Tradereview was active:
Only the Canadian regulators from this list have issued warnings against this scammer. We have to pressure other regulators to react to Tradereview as well and shut this unregulated brokerage down.
We did some digging and concluded that Tradereview’s only tools for finding victims are phone calls and emails. The broker has no social media such as Instagram, Facebook or LinkedIn.
However, we’re not sure about WhatsApp, Viber or Telegram since scammers regularly create private chats on those platforms to find victims. Dating apps could be risky too.
You’d guess by now that traders have written many complaints against the broker. You’re right because sites like Trustpilot and PersonalReviews are full of them.
Unsurprisingly, traders that trusted Tradereview ended up having withdrawal issues and the broker ceased all communication with them. Here’s what one Tradereview’s victim had to say:
Please do not trade with this broker, you will have to pay additional money to them before you can withdraw your funds from your account… So you can never withdraw your funds until they call you. No customer service whatsoever…
The unscrupulous broker advertises its own proprietary desktop and mobile trading platform, but the download files are really suspicious. Our PC warned us about the file lacking punisher information.
So the purported proprietary platform is some fake software. Tradereview’s only available trading platform is a web-based terminal – WebTrader, which can be accessed via any browser.
However, WebTrader is a pretty lackluster platform without advanced features such as automated trading, in-depth analysis and sophisticated charting. Tradereview doesn’t support valid third-party software such as MT4, MT5 or cTrader.
AnyDesk & TeamViewer. These apps allow one user to remotely access the PC of another. They can make life easier but also make it a living nightmare.
The latter is undoubtedly the case here. Imagine the disaster if you allow a scammer such as Tradereview to gain access to all your personal files on your PC. Information about your finances would be the scammer’s first target.
Tradereview claims to offer the following trading instruments:
Tradereview promises tight spreads. Yet, the broker didn’t specify how tight, i.e. we didn’t find out how low the spreads start on the website.
On the dubious WebTrader, we saw a spread of 2 pips for EUR/USD, which is double the industry’s standard and too wide to be competitive. Add to that Tradereview’s unregulated status and it’s impossible to make profits.
Tradereview offers three different account types:
The minimum deposits for each account type weren’t disclosed. As for the leverage, it’s extremely risky to trade with such high caps.
Super high leverage offered by offshore brokers usually results in enormous losses, hence why ESMA and other renowned regulators imposed a 1:30 cap for retail clients.
Tradereview doesn’t offer a free demo account. This is typical of unregulated scam brokers.
Without a demo account, they force you to open a live account before even seeing the trading platform and conditions. You’d be risking real money because the unlicensed scammer is ready to steal it.
According to Tradereview’s website, the broker accepts just two payment methods.
Allegedly, there are no fees and commissions but we don’t know anything about the minimum deposit amount. What we do know is that the Tradereview withdrawal amount must be at least 50 $.
However, we highly doubt that Tradereview will perform any withdrawal requests as traders have outlined withdrawal issues in their complaints.
Tradereview is a crooked offshore scammer that must not be trusted. If you’ve lost money to this scam, know that you’re not the only victim of Tradereview scam.
If the broker violated any terms and conditions, please let us know so we could inform the financial authorities and shut this scheme down.
As for your lost money, Global Fraud Protection could help you get it back. Namely, our experts specialize in bank chargebacks, recalls and crypto-tracing software such as CipherTrace.
If this broker steals your money, contact us for help. Use Online Chat to book your free consultation with us, it’s the easiest and fastest way!
Absolutely not. Tradereview is a scammer and has been blacklisted as a scam by the Canadian and Italian financial authorities.
No. Tradereview does not offer a free demo account.
The broker claims to offer a mobile trading app but the download files are suspicious, i.e. from an unknown publisher.
No. Tradereview’s WebTrader is an ineffective browser-based platform with no advanced features.
Absolutely not. Tradereview is a scammer and has been blacklisted as a scam by the Canadian and Italian financial authorities.
No. Tradereview does not offer a free demo account.
The broker claims to offer a mobile trading app but the download files are suspicious, i.e. from an unknown publisher.
No. Tradereview’s WebTrader is an ineffective browser-based platform with no advanced features.
The post Tradereview Review – Trdreview.com Is An Unregulated Fraud appeared first on Global Fraud Protection.
