We always like to begin our research by finding the company’s background. Who is TradeVexo, and why did the company decide to solicit investors without a license?
However, not every search for answers is successful. This TradeVexo review will provide as much information as possible.
By all means, TradeVexo is not a legitimate broker. The company is not regulated and doesn’t provide investors with basic information. Typically, honest brokers offer information about the owner, legal jurisdiction, and much more. Sadly, TradeVexo isn’t one of them.
Companies like this pose a significant risk to customers. In case something goes wrong and your account is blocked, or you cannot get a withdrawal, you cannot count on the assistance of the Financial Ombudsman or reimbursement from a compensation fund.
All in all, you should avoid TradeVexo for your own fund safety.
Scam brokers advertise their services through many channels. Usually, they lurk for victims via social media, such as Facebook, Instagram, and LinkedIn. The lattest has been their favorite tool recently, as they can pose as a credible investment firm and pretend to have real financial advisers employed.
We did website traffic research and found that the majority of victims of the TradeVexo scam come from the following countries:
We cannot say that TradeVexo’s trading platform is bad. Au contraire, the company offers Sirix, quite reliable software with a vast of tools, including social trading. However, this is just proof that a good platform doesn’t necessarily mean the broker is also good.
In fact, you will find many fraudsters offering third-party platforms such as MT4, MT5, or cTrader. This is why checking out for the broker regulation should be the first instance before you even start questioning the software.
Another benefit of working with Sirix is its dedicated mobile app. You can log in conveniently and whenever you’d like, which is a step closer to opening and closing your trades in time. The software has Android and iOS versions available to its customers.
TradeVexo allows access to five major markets, including:
While it’s quite a solid range, we won’t deny it, we will remind you that even if you succeed on the market, you have no guarantee to get your money back.
The EUR/USD spread ranges from 0.2 to 2.6 pips, which is a rather large gap. Other FX majors have an even higher spread for the Bronze account, meaning you will pay a lot under trading fees.
The commissions vary from $9 to $15 per lot, depending on the asset and the account type. As per leverage, we have no information.
There are four different TradeVexo account types, but none of them give details about the minimum deposit. However, let’s go through their perks:
Each higher account contains more assistance and educational materials, such as e-books, webinars, help from an analyst manager, and access to more trading instruments. Think, however, if it is worth anything without fund safety.
You can register for the TradeVexo Demo account and trade for free. Sirix platform enables risk-free investments, which is a nice benefit.
However, in order to register, you ought to provide the broker with your personal information. Knowing that the authorities do not supervise them, you risk your information being sold or otherwise misused.
We recommend registering with a licensed company or getting yourself a trial account directly through the MetaQuotes website.
TradeVexo withdrawal is limited by many unjustified clauses in the Terms and Conditions. Namely, if you received a bonus, you cannot get a withdrawal of the bonus or the profit from it before reaching a rollover of 1 lot for each $5 you received. Suppose your bonus was $100; that’s 20 lots or $2 million to roll over.
Also, there are no precise specifications on the payment methods. Legal documents mention wire transfers, with a fee of 25-30 EUR. It’s unclear whether this is your only option or if there are other options as well.
According to reviews, getting a payout is nearly impossible without legal aid. It’s just a reason more to stay away from TradeVexo.
Online trading scams are more common than you may think. If you try to find statistics, you will see that people lose millions to fraudsters yearly.
However, not everything is dark. Mechanisms such as chargeback could help you get your money back. Book a free consultation with Global Fraud Protection, and we’ll do our best to help you with the evidence collection and the legal dispute.
TradeVexo is not a legitimate broker, and you should avoid it. However, if you have already invested with this swindler, we may assist you with the recovery.
TradeVexo offers its customers a risk-free Demo account through the Sirix platform.
You can trade crypto and other CFDs, such as commodities and indices, but we advise against it as the company is not regulated.
TradeVexo is not a legitimate broker, and you should avoid it. However, if you have already invested with this swindler, we may assist you with the recovery.
TradeVexo offers its customers a risk-free Demo account through the Sirix platform.
You can trade crypto and other CFDs, such as commodities and indices, but we advise against it as the company is not regulated.
The post TradeVexo Review: Who is Tradevexo.com? appeared first on Global Fraud Protection.
