Thousands of financial services providers try their best to make an impression on potential customers. Firms without their regulatory status solved, like TraderPeck, tend to use different measures than reputable brokers.
The broker we’re discussing in our TraderPeck review has a tendency to use lies and false claims for the purpose of gaining new customers. Broker’s ally in the entire scheme is a fake licensing institution, which is known for forging licenses – Crypto Conduct Authority.
So read the following lines carefully if you want to become more knowledgeable of all the devious methods these dastardly projects feature.
First thing to get out of the way considering the TradesPeck regulation is the fact that the platform claims to be licensed. However, the authority that has issued this license is none other than the so-called Crypto Conduct Authority. This completely fake brokerage licensing agency doesn’t exist and is simply a site for counterfeiting licenses. The firm is a fraud itself that pairs up with faux brokers to help them deceive targets easier and then probably partakes in sharing profit.
Since TradesPeck claims to be based in London, UK, the only valid license they’re required to have is by the leading regulator in that country – FCA. The Financial Conduct Authority oversees brokers and regulates their activities. Needless to mention, the regulatory conditions that FCA enforces are some of the strictest in the world.
For example, every platform is required to keep the deposits in segregated bank accounts so misuse of clients’ funds is prevented. FCA allows a maximum leverage ratio of 1:200, while TradesPeck has is set on 1:200. Alongside the absence of negative balance protection and exposure to such high leverage, you can only guess how fast you can lose your entire deposit.
UK traders are also protected by the Financial Ombudsman and can count on support in resolving a dispute, while the compensation funds are used to reimburse every victim. FCA has also banned bonuses, and TradesPeck in their FAQs claims to offer the welcome bonus to every new client.
As evident from the proofs we’ve listed, TradesPeck is no sort of a regulated and properly authorized broker. As a final way of determining if the broker has a Tier 1 license, we’ve checked several more databases of licensed brokers. By this we mean CySEC, ASIC, BaFin, CONSOB and CNMV. And although they’re not blacklisted as much as VerifyFX, we’re confident TradesPeck deserves public warnings issued against their fraudulent practices.
During the past few months, how long TradesPeck exists, we’ve discovered an unusual increase in the number of complaints from traders from varying areas. The broker could indeed be based in the UK, considering that most of their victims are English native speakers. Or perhaps it could be that TradesPeck simply targets investors from the more developed areas, such as:
If you happen to be approached by TradesPeck, regardless if you reside in a mentioned country or not, you should contact us for help immediately. No matter how friendly the scam agents may seem in the beginning, they will be ruthless when it comes to money extortion.
To facilitate the communication, they may offer you to install Whatsapp, AnyDesk, Teamviewer or Telegram, so they can also gain access to your machine and sensitive info. Offering fairy tale trading conditions while promising huge returns in no time is usually how they entrap unsuspecting victims.
Insights from Reviews of TradesPeck
The total number of reviews on TrustPilot at the time of our research was 90. Probably the most disturbing bit in the whole story is the amount of fake positive reviews. Scammers are infamous for paying for people to leave high ratings. This provides a big boost to their reputation, as it’s one of the essential aspects that convinces newcomers to invest.
However, the negative reviews and evaluations by defrauded customers have told us everything we need to know. Make sure to read them yourself first if you were ever considering investing with this fake financial services provider. Here, we will only list a couple of them:
“A fake platform. They have taken money from investors and of course now they are still online but nobody is able to withdraw. Bet most of the positive reviews are not real.”
“The situation is extremely frustrating and disappointing, as it appears that the company’s modus operandi is to lure clients in with promises, only to abandon them once they have made sufficient profits…”
TradesPeck doesn’t for a second drop their mask of a perfected, super-advanced trading platform. All that by offering virtually impossible trading conditions like spreads starting from 0.1 pips, no commission at all, yet high leverage of 1:200. None of these conditions seem plausible.
Regulated brokers, in general, earn by applying some trading fees and charges occurring during the process of trading itself. TradesPeck can’t possibly not charge anything and just smile in your face while handing you over the entire profit you make.
Yet another aspect which TradesPeck remains fully dishonest about are the bonuses. We’ve already mentioned these are officially banned in the UK. So this swindler offers them to lure in victims faster and then have an excuse to deny their withdrawal attempts. You see, the broker claims to give bonuses upon depositing but they do not disclose the exact amounts or the conditions they come with.
It’s characteristic for faux brokers to reward newcomers by handing out bonuses, but with strings attached. By this we mean the vicious trading volume requirement and extremely high fees.
Hardly anything out of the TradesPeck entire offer could interest you in becoming their client. While the swindler claims they only ask for $250 as an initial deposit, you cannot open an account without at least 10 000 EUR!
Secondly, the trading platform is advertised as a top notch technological solution while it’s nothing but a web trader. Even that is unverifiable without an account.
A detailed insight into all these fabrications will only show you how unreliable, unsafe and dishonest TradesPeck is.
TradesPeck easily makes claims of providing the latest and most advanced technological solution for trading. The platform supposedly packs the most revolutionary trading tools and options. We highly doubt this is the actual case with the TradesPeck webtrader. Neither could we verify any of the claims as account opening depends on having a referral code.
Web terminals are commonly used as a part of the scamming scheme to facilitate the manipulation of trading parameters and data. RoboInvest is one example of a scam with such practice. So, if you want to have a quality trading experience, you have to choose a reputable broker that has MT4, MT5, cTrader or similar to offer.
Assets You Can Trade With TradesPeck
Tradable instruments classes available are just a wild guess until you open an account with TraderPeck. Only then can you access the software and check out the products offered for buying and selling. Otherwise the site does not clearly state or give examples of the tradable instruments. For all we know, currency pairs, crypto and CFDs are supposedly provided, but that is all we could dig out, without the examples.
What Are the Account Types?
Get ready to tarnish a pile of cash for an offer that isn’t worth even half of what it costs. While popular and heavy regulated brokerages have account types available for just $10, TraderPeck isn’t that humble. Their initial deposit requirement is set at a number which is about a thousand times higher than the industry standard. Here’s how much the packages at TraderPeck cost:
Unless these come with a ferrari and a magic wand that fulfills all your wishes, we don’t have a single reason to encourage buying any of the accounts offered.
TraderPeck wouldn’t risk revealing anything by allowing the interested traders to open a Demo account. In that case, they’d have to provide reliable software, and help the investors test the trading conditions. Sadly, the entire trading environment is a farce. For that reason, the site doesn’t open the possibility of registering trial accounts. You will see the same at Immediate Edge, which is a known cyber criminal.
Anything even remotely related to education at TraderPeck is the FAQs and some Blog they mention. While FAQs do contain some of the answers to most frequently asked questions, they’re not reliable or truthful.
Blog should have tips and guidelines intended for novice traders to use to learn faster. However, besides the single page promising such benefits, we didn’t find anywhere a single trace of the famous blog. Perhaps it is only available for members and existing users, but this only demotivates traders and does not encourage them to invest with TraderPeck.
Is Profit Withdrawal Possible?
We wouldn’t like to disappoint you, but the profit you’ve seemingly made with TradesPeck is most probably fake and just a result of a platform manipulation. So even if you try to withdraw it, all your efforts will be hopeless. However, you should do your best to get your initial deposit back. The easiest way to do it is by contacting us for legal support.
Anyhow, TradesPeck claims not to charge depositing and withdrawing profits as well as all the other transfers you make. The lack of license and the anonymity that this illegal firm desperately holds onto give us reasons not to believe these claims.
Since they do not have an explanatory and detailed policy, TradesPeck is free to suddenly slap you with insanely high fees, charges and payout taxes upon every payout request. These are typical strategies used as excuses to prolong your wait and eventually reject your requests altogether.
As the user reviews already point out, cooperation and correspondence with TradesPeck support dies out when it’s time for withdrawals. While the broker itself states their support is an impeccable service, the testimonials claim otherwise.
It isn’t unusual for the financial swindlers to turn a cold shoulder to customers they know they’ve already drained. This also happens as soon as you attempt to apply for a withdrawal. TradesPeck contact is an online form, which we doubt anyone responds to, as well as a phone number that can be entirely fake.
TradesPeck is only seemingly regulated. The forged brokerage license comes from another group of cyber criminals who own a fake brokerage licensing website. Only a FCA license would be a credible confirmation of this broker’s legitimacy, and TradesPeck does not have it. Because of that and all the other reasons we’ve mentioned in our TradesPeck review, our final verdict is that this platform is completely fake, unregulated and a pure sham.
However, even if they have already defrauded you, there’s still hope. As long as you don’t give up, you can do what is necessary to recover your capital. By simply contacting our support service, you can get a free consultation and your funds will be returned to you sooner than you expect!
So if you were robbed by TradesPeck, just let us know, and we will do everything in our power to aid you in recovering your deposit.
TradesPeck is a falsely regulated brokerage website with no officially valid license so they do not deserve your investments. In case your deposit was already stolen, contact us promptly to restore it.
Given the fact that this is an illegal platform, you can surely attempt to place trades, but the way the swindler manipulates the software will render you unable to make real profit.
The broker doesn’t make a mention of a Demo account. The entire account opening process is conditioned by having a referral code anyway.
The post TradesPeck Review – Scammer Backed By A Fake Regulatory Body appeared first on Global Fraud Protection.