GT Tradex claims to refund your bad trades, which is an uncommon feature in any form of investment. How the platform plans to do so remains a mystery. We believe these are false claims meant to drive up sails. What we learn from a few members is the problems facing them during withdrawals. It seems GTTradex does everything possible to withhold funds. Let's take a closer look through this eye-catching GT TRADEX REVIEW.
On their about us page, the platform depicts itself as an excellent trading environment. The platform offers CFDs and Forex trading. Other unfounded claims we see include being licensed and offering negative balance protection.
We have to give them credit for creating such an engaging website. The platform ensures everyone falls in love with their marketing approach Anyone would love to get a refund for their lost trades.
Without taking a second look, most newbie investors sign up and soon rue this decision. The platform is only interested in your funds, nothing else. Even though you get to trade and probably earn, withdrawing is next to impossible.
And this is what makes the platform a scary venture. You deposit, trade, and earn profit only to be denied the chance of withdrawing. These are the effects of investing with an offshore and unregulated platform.
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The team behind this remains unknown and yet, claim to have a combined 40 years of experience. TIOShield is the software they claim to have to help investors undo their losing trades. And this is where we learn the platform tries to use TIOMarkets software.
GT Tradex offers six account types with the minimum allowed deposit set at $300. Investors should know regulators have set $250 as the acceptable minimum deposit. All accounts come with an estimated return on the deposit amount.
Here’s a closer look at the six available accounts;
Standard
It’s the most basic of accounts, with the initial deposit set at $300. However, the account promises users returns of $2,880. And this is over 100 percent return on investment which is nearly impossible to achieve.
Silver
The second account comes with a minimum allowed deposit of $400. It comes with all standard features and an ROI of $3,840. Unless the platform invests in unknown markets, we don’t see this being feasible.
Gold
With the gold account, you must make a minimum deposit of $500 to start trading. The estimated ROI is set at $4,800. There’s also a $6 commission per lot with no fees on deposits made. So we see no difference in the first three accounts apart from the deposit amount.
Signature
According to the platform, it’s the most sought-after account with a 30 percent deposit bonus. In addition, there’s a minimum allowed deposit of $800 and an ROI of $6,200. Apart from basic features, others include a $50 work of GTXx minimum first deposit.
VIP
The VIP account comes with a minimum deposit of $1,000. To open this account, you must also pay a fee of $24.95 monthly subscription. In addition, there’s a $2 commission per lot with priority level support.
VIP Black
No commissions on this account, and one must deposit $2,000 to start trading. In addition, you must pay a monthly subscription of $49.95, with the ROI listed as $16,000.
Whether you are an influencer or affiliate manager, the platform has an offer for you. Partnering with the platform gives you lifetime rebates for each referral. However, although the platform sounds legit, there’s a warning call to heed.
With this being an offshore and unregulated platform, there are risks to consider. For example, the referred partner may fail to withdraw funds and end up blaming you. But, on the other hand, there’s no need to lose your friendship and reputation due to small affiliate bonuses.
Your funds are not safe with an offshore and unregulated trading platform. Therefore, it would be best to stay away from them as there’s no guarantee of safety. In addition, the platform does not provide insurance cover for deposits made.
The disclaimer at the footer of the homepage reveals the platform’s ownership status. GT Tradex Ltd is the entity we are told owns the platform. There’s even a license number displayed for all to see.
Sadly, no such company exists, and you can confirm it using company registration records. The platform uses a license number that doesn’t belong to them. Although the names may sound the same, they are using cloned company registration documents.
Anonymity is another factor to consider with an offshore platform. We don’t know who is responsible for handling funds. The platform fails to mention any of its team members. And this is the reason why we doubt their credibility.
One way of ensuring a platform is accountable is the way they support clients. For example, the contact page has a forwarding email with no phone number. You can also leave a message as you drop your phone number.
We see no reason for leaving our phone number for safety concerns. The platform ought to give their phone number as well. Instead, it seems they want to control the communication process. The platform can contact you at any time, and it’s not the case with users.
GT Tradex is not a registered platform and does not hold any documents to prove it. As a result, we see a platform that fails to deliver on its promise of having the right compliance. Being an offshore platform, we expected no less from them.
Some risks come with associating with such a platform. Security of funds is out of the question as they don’t comply with the minimum capital requirements. The lack of oversight also means they are free to practice whatever they want.
When looking for a reliable trading platform, go for one licensed by a reputable body. These bodies include ASIC, BaFIN, CNMV, CONSOB, CySEC, FCA, FINMA, and SEC. In the event of an international forex platform, check with the Financial Commission.
One of the few advantages of the platform is offering two of the leading trading platforms. You can trade with any of the two platforms and enjoy an intuitive trading experience. In addition, these platforms offer automatic trading and professional technical analysis.
What makes the platform a flop is that they block withdrawal attempts. So even after using world-class platforms, you might not rip the benefits. And this is what makes trading with GTTradex a nightmare.
The platform sets up several payment options allowing anyone to fund the accounts. You can fund accounts using bank transfers, bitcoin, MasterCard, and Visa. Depositing funds takes less than five minutes to complete.
Withdrawing funds with the platform is a daunting task. In most situations, this is not possible. You won’t get the chance to withdraw funds, especially if you’re a newbie. The platform will insist on a new deposit before allowing withdrawals.
Here are our reasons for not recommending GT Tradex
These are the reasons why we doubt the credibility of this platform.
Make sure to join a leading and reputable investment platform with a proven track record. It’s the only safe way to invest.
For further queries, you can leave a comment or write to us.
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