Traderfex claims to be a world-renowned forex provider. However, little is known about their reputation, especially with their hidden background. We have seen several complaints from investors who have lost funds with the platform. Here, we are going to expose some of the red flags we spotted on the platform. Ensure you go through our detailed TRADERFEX REVIEW for more details.
On their about us page, the platform claims strong relationships require engagement and time. Although this is a touching message, something is missing from the platform. First, we don’t get to read about their ideology.
In most cases, such platforms will give their mission and objectives to investors. Traderfex, on the other hand, decided not to give any information. And this means we are dealing with a platform whose professional background remains unknown.
You have to invest in something tangible and that which offers financial advice. Unfortunately, Traderfex.com is not one of them as they miss a lot of points. What we do give them credit for is coming up with an easy-to-navigate website.
Choosing the right investment decision means going for expert-backed platforms. These platforms offer investors the right way to invest. Next, go for creative platforms that offer innovative ways of investing, such as coin staking.
According to the disclaimer at the footer of their homepage, the platform has several offices. These offices are located in Australia, Finland, Sweden, and the United Kingdom. Obviously, these are false claims.
When searching for a safe investment platform, make sure to do due diligence. Create time to research on the platform. One way is to read reviews about the particular platform. Having prior insight about a platform gives your choice credibility.
Traderfex offers five account types: starter, advanced, expert, VIP, and Islamic account. Each account comes with a distinctive feature, with all having a personal account manager. Here’s a closer look at each of the five accounts;
Starter
It’s the most basic account, with users having to deposit $250 to start using the account. There are no upfront commissions, and members get a personal bonus policy. The account is solely based on aggregating mode only.
Advanced
For the advanced account holder, members get a 25 percent Swap discount. There’s no mention of the available minimum deposit, which is weird. Hedging is allowed with zero deposit fees. You also get daily market updates.
Expert
Members holding the expert account have to deposit an unknown amount. From what we have heard, members deposit more than $5,000 for this account. Some notable features include advanced training and live market news updates.
VIP
For the VIP account holder, they get a negotiable discount on swaps. In addition, there’s one-on-one trading with an expert and the availability of an expert account manager. You also get expert training and a personal trainer.
Islamic
Islamic account comes with no mentioned deposit amount. Some of the features include no spread widening and no upfront fees. Other features include having all other trading conditions as seen on other accounts.
Despite what seems to be a creative way to help investors, the platform does not offer professional services. These account managers instead solicit funds from investors claiming to offer a lucrative investment opportunity.
To try and sweeten the deal, they claim to have chosen you for the platform. In such cases, they will add that the slots are limited to a few members. Then, you only have to deposit funds and wait for the profits to soar.
Of course, this doesn’t happen. Instead, the account manager goes dark, and there’s no way of reaching them. To try and keep investors guessing, the platform will later assign members a new account manager.
When you call to ask about the previous account manager, you get a cold shoulder. You might even get the platform claiming the account manager is on leave. It’s their way of giving such members false hope.
Your funds are far from safe with an anonymous and unregulated platform. The platform fails to offer insurance cover for deposits made by investors. Without any regulation, it means they are free to operate as they please.
Traderfex does not deposit the minimum required amount to start a forex trading service. You should know that each platform should deposit funds with regulators to act as insurance. What happens if the platform decides to close shop?
We are also concerned with the platform’s inability to segregate accounts. The platform is holding all funds in one account. Once you deposit funds, they transfer funds to a single personal bank account.
Little is known about the team running this platform. Despite claiming to have offices in four regions, there’s no mention of a single staff member. We don’t even know who is held liable for funds.
It makes Traderfex an anonymous investment platform. Not forgetting they are unregulated, these two are features all investors must avoid. The lack of regulation means no one wants to be held accountable.
There’s a chat tab where we sent a message only to realize it’s a bot answering. Unfortunately, the platform does not offer any live chat support. Instead, you will get a message asking you to send your email address.
Once they have your contact email, they will start bombarding you with marketing emails. It becomes nagging, especially when all emails are sent daily. In addition, there’s no direct contact, such as a working phone number.
A bot picks all the phone numbers listed. You have to leave your message as the platform promises to get back at you. We believe the platform is using these avenues to harvest contact details from members.
There’s no demo account on the platform, which is a bummer for newbies. You can’t test how well the platform behaves. And this means you have to sign up blindly. We even don’t know which type of trading platform they offer.
To fund your account, the platform only accepts bank and wire transfers. Depositing funds is simple, and the process takes less than five minutes. After depositing funds, they will reflect in your account after 24 hours.
Withdrawing funds from the platform is another headache. For the past few weeks, no one has managed to withdraw funds. And this is what makes the platform unreliable and a total waste of funds.
Traderfex is not a licensed platform despite having offices in four countries. And this is the reason why we doubt the platform’s safety of funds. Without a license or regulatory framework, they can set harsh trading conditions.
You should invest in platforms that offer realistic investment opportunities. And this means having a well-recognized platform. You should invest with platforms regulated by reputable governing bodies.
These include ASIC, BaFIN, CONSOB, CySEC, FCA, and the SEC. Such institutional ensure all parties adhere to the regulatory framework. As a result, you will trade knowing your funds are secure and held in segregated accounts.
These are the main reasons why we won’t be recommending Traderfex
Now you know the risks that come with this investment platform.
Make an informed decision and choose creative investment strategies. These include coin staking, DeFi, and Masternoding.
If you have any queries, feel free to email us.
Valforex.com will not be liable for any damages incurred due to the usage of any information displayed on this website. The information and trading guides found on the website constitute the authors’ opinion only. Trading Forex, Binary options and Cryptocurrencies involve high-risk and are not suitable for all investors. Online trading in general, may not be legal in your jurisdiction. It’s visitors’ responsibility to make sure these entities are legal in their jurisdiction before engaging in trading activity. All trademarks, images and logos that appear on this site are copyrights of their respective owners and have been used under the Act of Fair Use.
0 Comments