Trade Millinium Details
Table of contents
Let us start by saying that Trade Millinium is not impressive at all. It may promise many things, but the delivery of it all is completely lackluster. Read the review to find out everything there is to know.
Crucially, Trade Millinium has not include two very important elements that are the building foundations of any forex broker. First off we have the regulation, or lack thereof. The broker fails to give any information about a regulation, coupled by the fact of the lifeless website, and we are left to conclude that Trade Millinium is UNREGULATED. Second, the broker has absolutely no legal documents to speak of. We went through the website and found none.
Investing in unregulated brokers is the digital equivalent of throwing your money away for the wind to disperse it. It’s obvious that no one would do such a thing. Go with brokers that are regulated by trustworthy organizations like the FCA or CySEC. These entities work closely with the law, enforce it when called for, and have strict requirement for those under their gaze. Not to mention that those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC).
Before we move on we have to say that the website is appallingly lackluster in information and content. It feels like 95% of the text is just there to fill the spaces.
Going in tone with this are the missing leverage and spread values, that, not only have they not been included anywhere on the website, but are missing in action in the trading platform that, as we shall soon see, cannot be considered a platform at all. Unfortunately, the same issues can be applied to when we searched for trading assets.
The website is available exclusively in English.
TRADE MILLINIUM LOGIN
The trading platform is a broken joke. It’s part mess, part 3rd party widgets that are all over the place. If we are to speak clearly, there really isn’t a spread value source, nor any indication on the actual assets used for trading. All the instruments seen are a part of the charts, which are all taken from 3rd party sources.
In many ways we can conclude that Trade Millinium has no trading platform.
TRADE MILLINIUM MINIMUM DEPOSIT
We were able to proceed with a deposit of just $1.
According to the client portal, the funding methods are PerfectMoney, Bitcoin, Litecoin, Ethereum, Wire Transfer, MoneyGram, Western Union, and bitcoin cash.
Once more: this broker is clearly unregulated, and if you choose fund an account with it, it will put you directly at risk of loosing all funds. For safekeeping your money, we strongly advise to avoid all brokers who do not have a proper license from renowned regulatory bodies. Agencies like the FCA and CySEC stand out as some of the top license issuers in the world, notorious for their severe requirements and close relationships with the law.
DON’T PROVIDE YOUR CREDIT CARD CVV CODE
The CVV code is the one thing that separates a buyer from a product. Without it, one cannot complete a purchase, even if him/her has given all other necessary information. By giving this detail to someone else, you are essentially inviting them to use your funds for their own means. And be warned that unregulated brokers most certainly plan to do so.
DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER
Be sure to never give AnyDesk or TeamViewer access to your PC to unverified agents. These 2 platforms allow for your PC to be taken over by a second party, often times for help or guidance, but in the case of these brokers for the sole purpose of looting your bank account(s) and personal information. However, in order to do so your consent is needed, and this is the only thing standing in the scammers’ way.
TRADE MILLINIUM WITHDRAWAL TIME AND FEES
The minimum withdrawal amount is $1000, which is ridiculous.
According to the FAQ, there are no “taxes”, or what we assume to be fees, when withdrawing.
The processing times have not been mentioned anywhere.
ADDITIONAL FEES AND TAXES
Since we have established that there are no legal documents, we cannot give you any suspicious clauses. However, traders should keep their guard up. Unlicensed brokers utilize smartly crafted tactics to keep you as invested as possible into their schemes of deception. And seeing that every day there are many who fall victim to their plans, one must realize that these people are smart and fully capable realizing their schemes, either by finding or creating loopholes in the T/C, by reassuring that the more you postpone your withdrawal the better the chance of quadrupling your initial investment, or just asking for more deposits.
If a broker is unlicensed, never give you ID and personal details to it, because the broker will use these details against you once you file for a charge back. Furthermore, any allegation held against the brokerage will be easily refuted if they have in their possession a copy of your ID and proof of address.
We are positive that this so called broker will not return your funds; the evidence we have laid out before you work in sync against it. The sound thing to do is to direct your attention and investment to an FCA or CySEC licensed broker where the law is integrated in every aspect of their operations.
HOW TO RECOVER
The only way to recover is by filling for a charge back, and hoping it’s not too late.
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.
Victimized traders will have their guards down looking for every opportunity to get their money back. This is where the fake recovery agents come in, seeing an opportunity in your desperateness. First of all, they will promise to recover all your money, but they will ask a fee to cover their services. Once this fee is paid rest assured that you will never again hear from them.
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!
Trade Millinium is as fraudulent as they can goe, and on top of that doesn not even do a good job at concealing their true intentions. Investing at Trade Millinium will only lead to financial frustration. Stay back!
Trade Millinium compared to other brands
United Kingdom, Cyprus, South Africa, Mauritius
Cyprus, Saint Vincent and the Grenadines