Tronxfxtrade

Tronxfxtrade is a common FX scam. It's interface and user area can be used as template by any other scammer, but the state of both is so bad that only very few users will actually fall for them. Just how bad is Tronxfxtrade? Read the review to find out.

The main, and subsequently only, information that the broker reveals about itself is an address in the UK. So what, now we are supposed to treat this broker as a UK one? Absolutely no! There is no proof that the broker is registered in the UK, let alone regulated there. As far as we see it, the broker has lied about the address.

And moreover, the FCA has placed an official warning stamp on the broker, which means that there really is no way that Tronxfxtrade is offering services to UK users, at least legally. The way we see it, it's only a matter of time until the broker gets shut down or collapses on its own.

Tronxfxtrade is without a license, and is therefore a risk to all!

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 requirements 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).

We had no difficulty registering an account, but what we found difficult was to accept the user are seriously. We were faced with the typical scammer broker user area- it was lazy and a mess, completely overlooking what makes a stable and strong client portal.

But by far the worst part of it all was that there was no actually trading software anywhere. And so, we cannot talk about applicable trading conditions – like a spread or assets- because there is no software on which to interact with these.

TRONFXTRADE LOGIN

Upon opening the user area, we were faced with a couple of third part charts that the broker has placed instead of a platform. These third party charts are completely useless. There is no trading on them, and they are mainly used as a reference point by other brokers.

In place of a trading software, we have the investment packages, also known as the embodiment of the investment scam.

Each time we encounter these schemes, it's the same story. The broker offers an unrealistic return on a minimum deposit that will never come to be. You can't seriously expect that for a $1000 a daily 10% profit will be racked up. There is no incentive here for the broker; it's as if Tronxfxtrade is giving free money away!

TRONFXTRADE MINIMUM DEPOSIT

All deposits with any unlicensed broker, including Tronxfxtrade, will be lost, and retrieving them is a very hard and tedious ordeal.

The client portal reveals only one payment method for deposits, a very shady and unclear BTC address. These types of deposits are untraceable, and the user would only be funding some fraudulent individuals in god knows what part of the world, in essence throwing his entire money to the wind.

The minimum deposit is said to be $1000, but with the crypto wallet we think that there is no limit. The broker will swallow any amount you send it.

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, oftentimes 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.

TRONFXTRADE WITHDRAW TIME AND FEES

Scammer brokers are scams for a reason. They would be at a loss if they allowed users to withdraw funds.

The user area reveals that withdrawals can be processed by means of a BTC wallet, an ETH wallet, PayPal, and wire transfer.

However, the obvious question is why would the broker offer multiple withdrawal payment resources, and only one depositing method? There is no clear answer to this, but it's all a part of the scammer nature of the broker for sure.

Do not think that the open withdrawal methods are a sort of sign that the broker is trustworthy. Absolutely not! This broker is a scam and completely unregulated.

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 this broker as it 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 chargeback 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.

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

The conclusion is effortless: Tronxfxtrade is a complete scam and a risk to all. Do not invest no matter what!