When the trading time comes, you want to be sure you chose the right broker. Sadly, TradeTime doesn’t seem legitimate.
We’ve discovered this firm is based offshore, without any regulations for operating in finance. Our detailed TradeTime review will tell you all.
TradeTime has changed several domains and addresses throughout its history. For instance, we can see in the FCA warning an address from Bulgaria, while Spanish authorities located the broker offshore. Currently, the website shows an address in Turkiye.
Whatever the case, we know one thing. There’s no TradeTime regulation. Neither with the Bulgarian FSC, Turkish CMBT, nor Tier 1 authorities such as FCA, ASIC, and BaFin.
In fact, we have a firm reason to believe that TradeTime is owned by Trade Time LLC, registered in Saint Vincent and the Grenadines. Since the island has no authority in charge of Forex and the binary options market, it’s clear why TradeTime chose it.
The brokerage offers leverage of up to 1:1000, with a limit of 1:20 for crypto, while in the EU, this limit is 1:30 for FX and 1:2 for digital coins. TradeTime is an unregulated offshore fraud. The brokerage has been banned in the UK and Spain for offering trading services unlicensed.
Our research shows that this broker mainly operates in the following countries:
Let’s talk about something good in this review too. TradeTime trading platform is MT5, the latest version of MetaTrader, and probably the most advanced. Whether you want to customize it, choose advanced features, or employ a bot to trade for you, you have all the options.
Both MT4 and MT5 have millions of downloads due to functionality but also increased safety. Each platform employs specific security measures, meaning your money is safer than with proprietary software or any WebTrader.
Yes, you can use a mobile trader on any Android or iOS device. It’s another great side of investing in sophisticated software, such as MetaTrader5. Convenience of access.
You can choose among five asset classes, those being:
While we cannot deny that the range is quite solid, we surely vote against trading with an unregulated broker.
The spread ranges from 0.0 to 1.5 pips, depending on the account type. However, there’s a commission of $10 per lot for accounts without spread. It seems rather high, as $4 is average.
Here’s the list of the five TradeTime account types. You will learn why to avoid this broker.
None of these shows the minimum deposit or any additional perk. The leverage is 1:1000 for all types, while all include promotions.
There’s no possibility of using a TradeTime Demo account. Unfortunately, this broker doesn’t want you to see their offer before you pay the money. And the biggest catch is right there. You don’t know what the minimum deposit is.
This is precisely why most people choose regulated companies. With them, everything is quite transparent, while the minimum deposit is clearly specified. Furthermore, they often offer risk-free accounts for those who want to familiarize themselves with trading first.
From the rather obscure TradeTime withdrawal policy, we learned that the company accepts the following:
Any excess sum of your deposit must be returned through a bank transfer. However, the brokerage specifically says it maintains the right to cancel your request in case of payment provider shutdown or other unforeseen circumstances.
If we were to trust TradeTime reviews, you wouldn’t see a penny back without legal aid.
TradeTime is an unregulated financial services provider without a license. If you lose your money to this swindler, don’t be too hard on yourself. It can happen to the best of us.
Instead, contact Global Fraud Protection and book a free consultation. Let our chargeback experts do what they do best – assist victims of financial fraud.
TradeTime is not a legit broker, and you should avoid it. If you have already invested any money with the said firm, we might be able to assist you.
TradeTime doesn’t offer its clients a risk-free Demo account.
Yes, the brokerage provides an exceptional trading platform – MT5 terminal.
TradeTime is not a legit broker, and you should avoid it. If you have already invested any money with the said firm, we might be able to assist you.
TradeTime doesn’t offer its clients a risk-free Demo account.
Yes, the brokerage provides an exceptional trading platform – MT5 terminal.
The post TradeTime Review 2023 – Unregulated Offshore Brokerage With Banned Trading Services appeared first on Global Fraud Protection.
