Traderactive is an insolent forex trading platform waiting to block your funds. Over the recent weeks, the platform has hit the headlines for blocking withdrawals. You can’t prosper while trading on Traderactive. We learned that the platform also plans to sell your private information to third parties. To know more, we insist you go over the traderactive.com review. Here’s what we know in our clear TRADERACTIVE REVIEW.
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Once you land on the homepage, you get a sleek design feel. That’s enough to convince most investors that Traderactive is a trading platform. You have to dig deeper to find out more regarding the platform.
We have a platform eager to take your funds the moment you decide to join. The platform will even go to the lengths of calling you with empty promises. These call agents pose as account managers and promise heaven.
Before going forward, you need to know what Trader active is about. Despite the aesthetics, the website is fooling no one. We won’t allow this platform to be the one that tarnishes the forex world.
There are plenty of red flags found on the platform. These include withdrawal issues and constant call harassment. In addition, some trading features are not at par with set forex regulatory standards.
For newbie investors, all they want is to have a place to trade and grow their investments. Unfortunately, scam artists know that and plan to take advantage. This Trader active review will help you understand what to avoid in a forex trading platform.
The platform claims to offer more than 7000 trading instruments. There’s no background or history of the platform. It seems the platform wants investors to sign up without asking any questions. That we won’t do!
Before investing in any platform, experts recommend doing due diligence. Try and find out what makes a platform tick. That’s the only way to move forward with any trading platform and stay safe.
No, your funds are far from safe with a platform failing to segregate accounts. Additionally, it’s come to our attention that the platform doesn’t have DDoS protection or SSL encryption. These are the reasons why investing with the platform is a risk.
The platform also fails to deposit the minimum required amount with regulators. Regulators use this deposit to guarantee insurance for members of the public. Unfortunately, that means Traderactive is not covering insurance deposits for members.
And that poses a high risk as no member will get any compensation. In case of bankruptcy or insolvency, members will lose their funds. The platform won’t bother furnishing members with even account balances.
These are the reasons why your funds are far from safe. We even don’t know who handles funds on the platform. There’s no professionalism on the platform, which is not ideal. The platform doesn’t even list the names of those who run it.
Beware of these features Traderactive
The platform offers four types of trading platforms. Desktop, Mobile, MT4, and web terminals. A custom-built trading platform is available for all devices. However, their web terminal is slow at executing trades and highly unstable.
When trading, the best trading platforms are MT4, MT5, and SIRIX. These are the platforms of choice for even the most skilled traders. These platforms offer reliable trading instruments and tools that give the Trader an advantage.
With an unstable platform, traders incur losses due to slow execution. In addition, the platforms lack technical indicators and tools. Finally, there’s also a chance of the platform being a security risk in malware matters.
What’s funny with Traderactive is their claim of having one account for all on the homepage. Despite this, the account page has four different accounts to choose from. It remains unknown why the platform would try and fool investors.
These accounts include ActiveCENT, ActiveClassic, ActivePro, and ActiveZero. We don’t have any information on the available features, such as leverage and spreads. These accounts are not available on the member’s dashboard.
The platform wants to fool investors by having them sign up before knowing the features. As a result, we suspect the platform has a maximum leverage of more than the recommended amount by regulators.
Don’t go for leverage above 1:100, as this is against trading regulations. In the United States, retail traders must use maximum leverage of 1:50. Any platform going higher than that puts your trading position at risk.
There are five classes of trading instruments available on the platform. These include commodities, crypto, forex, indices, and stocks. Commodities come with spreads starting from 0.01 pips.
The MT4 platform is available for cryptocurrency trading. You get leading crypto coins paired against each other and major currencies such as EUR and USD. Despite this, the store puts maximum leverage of 1:1000.
Forex trading is at the core of the platform’s trading activities. You get to trade major and minor currency pairs. These include AUD, CAD, EUR, GBP, JPY, NZD, and USD. Sadly, there are no exotic pairs on the platform.
Traderactive is not a licensed or regulated trading platform. With that, the platform has no legal framework to follow. That’s why most of their trading is going wrong, as the features only help the platform earn commissions.
Before investing in any platform, make sure to check with regulators. Some of the reputable regulators in the industry offer strict legal frameworks. These include ASIC, BaFIN, CFTC, CNMV, CONSOB, and CySEC.
Others include FCA, FINMA, NFA, and the SEC. Regulators work to ensure there’s a level playing field for all parties. Without them, trading platforms would introduce harsh trading conditions such as high leverage.
There are two depository channels, bank and wire transfers. After depositing funds, the balance will appear in your member dashboard within 24 hours. Then, depending on the outcome, you can start trading and see the balance drop or rise.
When the time comes to withdraw, that’s when the platform shows its true colors. No one gets to withdraw funds from the platform. And that’s the biggest con of them all. Without withdrawing, members have no way to profit from trades.
Attempts to reach the platform for comment have hit deaf ears. We believe Traderactive is an exit scam waiting to happen. After getting its belly full, the platform will close shop and fail to compensate members.
Most of these scams are hard to spot, especially if you are a newbie. Fraud usually happens when you attempt to withdraw funds. One way to protect yourself is by depositing a small amount. For example, you can deposit $250 to get started.
Make sure to check the web for comments on the platform. Don’t believe a word posted on these platforms. The platform could as well hire keyboard masters to paint a positive review. But, again, it’s best to check with the forex community.
An open platform will have a license available that matches regulators’ records.
Please stay away from traderactive.com.
NB: The best form of investing is cryptocurrency.
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