TDS Capital Group

TDS Capital Group retains a stylized interface, and presents itself as a solid cryptocurrency-only broker. This is what unsuspecting traders will see and conclude, and we don’t blame them. For TDS CG has expertly concealed their true identity. Read on to find out more.

The Terms and Conditions claim that the TDS CG domain is owned and operated by Optima Express Inc which is registered in the small island nation of Dominica located in the Caribbean basin. After scouting in both websites we firmly claim that we could not find any mention of a regulatory entity for both “companies”. Furthermore, Dominica is certainly not a destination that is associated with license issuers for brokers, or any other financial institutions. Optima Express Inc serves as a cover-up website and offers little to no information concerning what it actually does. As for TDS CG, the lack of any mention of license means one thing and one thing only: that it is UNREGULATED.

We urge traders to trade with regulated brokers under the gaze of such agencies as the FCA UK which not only enforces a strict set of rules and demands detailed reports on company activities, but also includes a compensation fund of up to £85 000 for victimized traders resulting from insolvent brokers.

In any case, if you wish to continue to trade with TDS CG, there is a plethora of accounts offering different routes for traders to take.

Avid trades will instantly become suspicious after realizing that the website has not included any info on the leverage. No matter, for TDS CG offers only crypto, meaning that the average leverage for major cryptocurrencies should not exceed the 1:10 mark, and 1:2/1:5 for minor ones.

Cryptocurriencies, being the sole instrument for trade offered at TDS CG, have all very different bid and ask prices. For this we have taken a snap from the trading platform:

There are only two languages available: English and German. For a crypto trading broker this is the bare minimum of languages, not to mention that for a company that claims to be incorporated in the Caribbeans the inclusion of at least 3-4 international languages is a must. This is yet another sign of the broker’s shadiness.

TDS CAPITAL GROUP LOGIN

The obscurity continues with the platform.

TDS CG WEB TRADER

This is by far the biggest tell that the broker is anything but regulated and client-oriented. This web trader is simply ridiculous for one main reason. It offers close to no options for both optimizing clients’ trading and customizing the interface to individual tastes. Not to mention that the trader bears an almost identical resemblance to OmegaFX’s trader (yet another unregulated broker). To put it differently, there is nothing to keep you invested here.

The bid and ask prices, as aforementioned, are very contrasted with one another and for this reason we would like to bring to your attention the above snap for some major and minor cryptocurrency values.

We were able to access the trader on our browser. Any alternative trader, like mobile or desktop, has been left out.

TDS CAPITAL GROUP MINIMUM DEPOSIT

The minimum deposit for the Basic account is $250. This is the standard minimum, and is balanced enough to allow for small retail traders to invest. There are 4 more account types, each designated for a specific level of trading ability.

However, there is a dissimilarity concerning the minimum deposit in the FAQ portion of the website, claiming that the minimum is actually $500.

There are more examples of this type of mismatch, that we won’t even mention since readers should by now be getting the general idea of the sloppiness of this broker’s operations.

The payment methods are unsurprisingly confusing to pinpoint. One the one side the FAQ gives us Credit/Debit Card, Wire Transfer and “some” alternative methods, such as Skrill and Neteller:

Meanwhile, on the Payment Terminal, we were allowed to fund an account with the following: Credit/Debit Card, Wire Transfer, Bitcoin and PointsBit.

If we are to follow logic, then the Payment Terminal methods are the sole funding means. But who knows? Nothing is certain with unregulated brokers.

We can settle for the obvious deduction that this broker is not to be trusted, hence we advice against making any deposits whatsoever. If traders wish to trade in a safe and regulated environment, we recommend any broker that has a license from the FCA/CySEC since these agencies are renowned for their strict law enforcing and protection of clients’ investments and personal information.

DON’T PROVIDE YOUR CREDIT CARD CVV CODE

Furthermore, for safekeeping your money NEVER share your credit card number and CVV code with a salesperson, and even though the broker has specifically written not to do so in the Privacy Policy, we are prone to mention it, because you never know what reason they might come up with for asking you for it.

All online payments require this 3 digit number in order to complete purchases or transactions, and by giving yours away to some offshore broker may lead only to the complete drainage of funds from your credit card.

DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER

Another novice mistake that has been numerously repeated and taken advantage of is providing access to your computer and bank account via AnyDesk or TeamViewer. These two softwares allow for others (in our case the people behind the shady brokerage) to log-in to your PC and flip through all files and browsers, essentially taking over your computer as another user and having access to your personal information like bank account passwords, credit card information etc. Thankfully, these platforms are completely legal and will need your own personal approval in order to be used.

TDS CAPITAL GROUP WITHDRAWAL TIME AND FESS

There is no minimum withdrawal amount.

We went through every bit of information and text in the website and couldn’t find any info on fees and charges. This is quite peculiar since there weren’t even mentions of any withdrawal fees. No matter, this seemingly charge-free broker is unregulated, meaning that they can still send incoming fees without warning.

Withdrawal requests are said to be processed between 3-7 days, as indicated in Withdrawal Process.

Meanwhile in the FAQ, it is said that request are processed within 3 days, and that payment take up to 5 days (from the issuing of the request) to arrive in an account:

Whilst in the T/Cs the broker claims that all request are processed within 24 hours:

ADDITIONAL FEES AND TAXES

Readers should note that many offshore brokers have no intentions of paying you back. Any effort to withdrawal your money will be unsuccessful. Either the broker will find a loophole in the terms and conditions that is completely made up, will firmly advice you against withdrawing, or they will ask for more deposits needed if one wishes to withdrawal. Scammers come up with additional fees and taxes for the sole purpose of keeping you on stand-by, and to deplete as much money from you as is possible.

ACCOUNT VERIFICATION

Beware, once more, when giving away an ID and a proof of address. Trustworthy brokers ask for these before traders can deposit to make a check up. Deceitful ones will ask for these details, using the anti-money laundering legislation as pretext, once you start asking too many questions and are getting suspicious of their activities. Understand that they will use these to build a stronger case against you in the event that you request a chargeback.

Yet again we urge readers to stay away from shady brokers as they will, without a doubt, never return your funds and profits. If you wish to to get smooth and efficient transactions, please visit a FCA/CySEC regulated broker, where all withdrawals are handled with care and respect.

HOW TO RECOVER

The most sound advice we could give you is to immediately file for a charge back with you credit card company.

If you have given away your credit card details including the CVV code to the “broker” you should cancel it ASAP and check with your bank to see the damage inflicted.

Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won't ever hear from them again.

BOTTOM LINE

TDS CG tries its best to conceal the fact of its true nature, but fails to do so once one starts digging into its fraudulent scheme. From the inconsistency of withdrawal and deposit information, to the inefficient trading platform, the results start to pile up until they crumble under their own weight and reveal the fact that TDS Capital Group is NOT to be trusted.

The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!

Stay clear from this one, and if you can, invest only in brokers that can prove their regulation.