Warning! TradInvestor is an offshore company! Your deposit may be at risk.
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With a name like TradInvestor, hope begins to fade even at the title… Read the review to see if our suspicions are confirmed.
We found to clues as to the whereabouts of the broker. One was in the privacy policy stating that, what seems to be, its parent company Ez Education is located in the Marshal Islands. The Marshall Islands are one of the ideal destinations for all sorts of shady companies, because of the nation’s looser laws, yet the country does not have a financial regulator, thus TradInvestor, even if registered there, most certainly is NOT regulated there.
Next is a clause in the Terms and Conditions claiming that the website operates under the laws of Bulgaria. In Bulgaria, the license issuer is the Financial Supervision Commission (FSC). The agency is not the most renowned, and Bulgaria is known to host some shady firms, yet there is an upside to it. There is a compensation scheme that covers 90% of the clients funds in the event the brokers becomes insolvent. The reimbursed sum cannot surpass €20 450. After searching the official FSC website for TradInvestor we no results.
Furthermore, nowhere does it say on the broker’s website that the broker is an actual holder of a license, meaning that TradInvestor is most definitely UNREGULATED.
Always check for a proper broker license within the domains of the regulatory agencies. All of them have access to either an online database of regulated financial services providers, or separate lists of authorized companies. We advise traders to go with FCA/CySEC regulated brokerage firms, since these two agencies are some of the best for the job.
We easily opened a seemingly live account with the so called trading platform, and were greeted with a superb spread of 0,9-1 pips. The leverage we got was capped at 1:100 which is quite low for an offshore broker, but don’t be fooled; a lower leverage means that more deposits will be made.
The available assets for trading according to the trading platform are Currency Pairs, Commodities, Crypto, Stocks, and Indices.
The available languages are English and German.
TRADINVESTOR LOGIN
The browser based trading platform here is something that we have countless times encountered in many other brokers, such as Bexplus and FXStockTrades, where the main common feature is that the chart in the platforms is in fact provided by a third party chart issuer. This means that all options associated with it are not in fact tied to TradInvestor.
The spread values are associated with the charts, so we assume that the costs of trade are actually provided by this 3rd party, which means that the broker offers no actual trading conditions. This is by far the biggest tell that this broker is illicit.
TRADINVESTOR MINIMUM DEPOSIT
The minimum deposit according to the client portal is €250.
The payment methods seem to be via Credit/Debit cards, and Wire Transfer. This info was taken from the user area.
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
Furthermore, for safekeeping your money NEVER share your credit card number and CVV code with a salesperson. 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
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.
TRADINVESTOR WITHDRAWAL TIME AND FEES
The minimum withdrawal for wire transfer is $500 which is very high. Credit card withdrawals cannot be less than $100.
Withdrawals are processed within 3 days.
There is a trading volume requirement that must be met before making a withdrawal. If a margin of 200 or more is not satisfied, then users withdrawing will be charged with 10% of the entire amount.
Furthermore, Bank Transfers are charged with $50; credit cards are feed with $25, plus a processing fee of $10.
ADDITIONAL FEES AND CHARGES
If a trader uses a bonus he/she must be aware of the fact that there is a trading volume requirement that must be met. The volume is 90 times the bonus amount.
A 5% dormant account fee is levied each month if a user has not done any activity for 30 days.
We stumble upon the classic indemnification clause that absolves the broker from guilt. Furthermore, it has the nerve to actually levy 20% of any disputed amount between it and the client.
Brokers that have no regulation are known to launch incoming fees without notice. For this reason they try to postpone any withdrawal request. Either the broker will find a loophole in the terms and conditions that is completely made up, will firmly advise you against withdrawing, or they will ask more deposits needed if one wished 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
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 thing that is left to do is to file for a chargeback, and hope that the minimum amount of damage has been inflicted on your account.
If you have given a CVV code to the broker, be sure to cancel your credit card as soon as possible, because the broker will not delay with draining every cent from it.
At some point or another you might stumble upon a “recovery” agent or agency that promises to retrieve all your money back. This sounds all too good to be true, and that’s because it isn’t. Before proceeding with the recovery they will ask a payment for their services. If you chose to indulge them, they will disappear with the money without a hint of remorse.
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!
BOTTOM LINE
TradInvestor is a typical scam broker, one tat will not return your deposit, will not pay any winning, and one that will still charge users unnecessary fees. Do not invest here!
