For those new to crypto trading and investing, avoid Tradesimple (tradesimple.org), as it’s a scam. The broker has been in the news lately for all the wrong reasons. Tradesimple is a crypto and forex trading platform out to fool investors. In short, Trade Simple is a huge crypto scam. Here’s our clear TRADESIMPLE REVIEW.
Once you land on the homepage, you realize the platform has a lot of promises. One that caught our eye was earning 375 percent in 6 months. However, how the platform plans to achieve this goal remains a mystery.
NOTE: Are you planning on investing in cryptocurrencies? Here’s a quick crypto guide on the best crypto investment strategies. Investors are keen on coin staking, DeFi, and Masternoding.
From the word go, we can tell tradesimple.org is a platform eager to take your funds. But unfortunately, the broker will outright block withdrawals after investing with the platform. Unfortunately, that’s the case with the current crop of members.
Warning shots were issued a few weeks after members started airing their problems. But, unfortunately, the platform is nowhere to respond to these allegations. Instead, the platform shuts down accounts belonging to whistleblowers.
Those who have traded with the platform are rating it a 1/10. That’s a low rating considering the niche the platform claims to spearhead. With crypto platforms, brokers expect a higher rating. Unfortunately, that’s not the case with tradesimple.org.
From what we have seen, the platform claims to help generate revenue for members. It seems this is another well-executed platform targeting newbie investors and traders. We have to expose the broker in our detailed tradesimple.org review.
Straight from the gates, we will guarantee there are NO ADVANTAGES in dealing with Trade Simple. Those who have engaged with the broker are crying foul. Imagine being one of the victims who deposited a large chunk.
With the empty promises, there are a few issues traders need to avoid when engaging with crypto platforms. One of them has to be the huge promises offered by brokers. You have to set reality from fiction.
One of the first red flags we spotted was the 375 percent ROI in 6 months. That’s a monthly average of 62.5 percent. No broker can achieve this margin, especially with a guaranteed ROI.
With crypto assets, the market is volatile, and experts and robots incur losses. Please avoid any broker or robot claiming to guarantee results. That’s not the case here. No broker will ever get the chance to guarantee results in a volatile market.
Some of the harshest trading conditions we have seen in the crypto niche exist. The liquidity provider even hides some vital information from investors. So going in, you should know all platform aspects before committing funds.
Here’s a closer look at some of the red flags found on the platform;
Members don’t get to trade on the platform. Despite it, the broker offers several account types to choose from. The broker will take charge once you deposit funds. We believe the platform uses a custom-built trading terminal.
The problem with such trading platforms is instability. So instead, experts recommend using proven trading platforms such as MT4 and MT5. These platforms guarantee results and are a darling for newbie traders.
MT4 and MT5 trading platforms offer advanced tools and technical analysis. You can also use the platforms on any device, thanks to compatibility. In addition, the two offer robots that help automate trades on behalf of traders.
There are six account types available on the platform. Each offers a different array of trading features. Let’s take a closer look at each account;
Basic
Members must deposit a minimum of $250 to get started. It’s the most basic account and best suits beginners. You get an account manager and basic signals. Spreads are listed as basic, with over 100 trading instruments available.
Bronze
For the bronze account, traders must deposit $5,000 to get started. You get the same features as the basic account. The only difference is the number of trading instruments. With the basic account, members get 250 trading assets.
Silver
There’s a minimum deposit requirement of $10,000. Members get an account manager and access to over 500 trading assets. You also get an educational center with silver spreads and silver signals.
Gold
Members have to deposit a minimum of $50,000 to get started. There are several features more on this account than the first three. Additional features include a pro and daily market reviews and one-on-one trading sessions with a pro.
Platinum
$100,000 is the minimum amount to deposit into the account. Members get access to over 500 trading instruments. You also get a trainer to help you ease through the markets. There’s the option of PAMM accounts.
Diamond
It’s the most exclusive account of them all. Members have to contact the personal manager for details regarding this account. The platform also targets institutional investors with the diamond account.
One issue we have with the broker regarding accounts is information. The broker fails to list the set conditions, such as leverage and type of spreads. As a result, no one knows the fixed leverage for all assets on the platform.
We suspect the broker goes for leverage above 1:100. Spreads are also an issue; makes the broker offer fixed or variable spreads? So again, don’t sign up with any broker without knowing the leverage and spread set.
The platform claims to offer five markets for trading. These include commodities, crypto, forex, indices, and stocks. You can trade crude oil, metals, and natural gas. Crypto assets are hundreds of major coins paired against each other such as Bitcoin and Ethereum.
Forex trading is not the principal aspect; a few major pairs are found on the platform. Some of the available indices include DAX, Dow Jones, and NASDAQ. Stocks for trading include aviation, manufacturing, and tech industries.
Once you deposit funds, the broker claims to trade on your behalf. You will find the account balance rising, and hopefully, the amount doubles within days. Then, when the time comes to withdraw, all hell breaks loose.
The broker will claim your account is under review before withdrawing funds. And that’s how you lose funds, as the broker won’t release funds. In addition, the broker will cut off all tiers with you and fail to offer compensation.
Don’t expect any customer service such as live chat or fast communication. The broker is slow at responding to emails, especially those concerning withdrawals. That’s why we must expose the store for failing to give members better contact details.
Tradesimple claims to have a trading license from several regulators. These are false claims as the broker fails to back them up with license certificates. We don’t even have a license number that members can confirm with regulators.
These are call agents hired to act the part. All they do is call members urging them to deposit more and earn higher ROI.
Please avoid this crypto trading platform; tradesimple.org is a scam.
NB: Go for reliable trading platforms that offer realistic returns. These include formidable crypto plans.
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