Both BaFIN and CONSOB have blacklisted TradingRoomStar. The parent company was blacklisted over two years ago by BaFIN. It used to go by the name Easytrade55.com and ripped off several investors. You need to avoid investing with tradingroomstar.com or risk losing everything. The platform claims to increase your profit within 48 hours. There’s nothing to write home about in regards to transparency. Here’s more in our compelling TRADINGROOMSTAR REVIEW.
Several investors have lost their funds with the platform. However, attempting to check their background and history hit a snag. The store doesn’t have any credible history. When it comes to investing, a platform’s reputation is everything.
And that’s why we have to expose the store’s lack of transparency. From the word go, the platform doesn’t have any clarity. And this means trust is nowhere on the platform. So we will expose why lack of transparency is a huge problem.
Note: Before investing with any platform, you need to have the facts right. That’s why successful investors go for groundbreaking investments. These include Coin Staking, DeFi, and Masternoding.
TradingRoomStar is nothing but another well-thought-out plan to fool investors. Over the past few weeks, the platform has failed to release any funds. As a result, members are ruing the decision to sign up.
Once you land on the homepage, there are a few things. First, the website design is the same as the first wave of scams for those who don't know. The website uses the same design as that of easytrade55.com.
There’s also the issue of clamping all information on a single page. That makes navigation a little bit difficult for first-time users. There’s more, and the platform also hides crucial information from investors.
Experts recommend doing due diligence before investing in any platform. First, you need to confirm that your investing platform has what it takes. Also, try and find out the experiences of other users before signing up.
Surprisingly, there are no account types mentioned on the homepage. TradingRoomStar seems to offer one account to all investors. In addition, there’s no mention of the acceptable minimum deposit or set conditions for trading.
And this opens up investors into a huge pile of misinformation. The platform knowingly fails to inform users of the set minimum deposit. Once you receive a call from them, the platform tries to fleece you out of every penny.
Trading Room Star will claim that the more you deposit, the higher your chances of winning. That’s a load of crap as there are regulated platforms that ask for a minimum deposit of $1. The platform is taking advantage of investors.
Regulators have stepped in to try and level the field. The acceptable minimum deposit in most jurisdictions is €$250. Any platform asking for more is going against accepted industry standards.
There’s also the issue of missing information regarding account features. The platform fails to inform members of the leverage and spreads found on these accounts. We suspect the platform offers maximum leverage of 1:500.
When it comes to leverage and spreads, regulators have come up with an agreeable amount. For example, the maximum leverage in Europe is 1:100. In the United States, retail traders enjoy maximum leverage of 1:50.
It’s all done to protect the interest of clients. Unfortunately, high leverage puts your position at risk. You are likely going to lose a large volume of trade. Only experts can take advantage of high leverage, and they too are risking big.
When opening an account with the platform, specific issues are exposed. For example, the platform fails to give members a clear investment plan. The platform also seems to take your personal information and sell it to third parties.
We have seen such cases before, and platforms sell your information to email marketing campaigns. After signing up with the platform, you get a lot of spam emails. That’s just the tip of the iceberg.
When depositing funds, hackers can quickly take over the process. The platform fails to offer DDoS protection or SSL encryption. We feel that the platform is a huge letdown for investors.
There are four classes of trading instruments available on the platform. These include commodities, forex, indices, and stocks. For example, you can trade commodities such as coffee, cotton, crude oil, natural gas, etc.
Forex trading happens to be at the core of the platform’s activities. You get to trade major and minor currency pairs. Sadly, the platform fails to quote acceptable spreads and minimum lot size with this asset.
Indices help day traders to engage in the world’s market stage. You get to trade with indices such as DAX, Dow Jones, NASDAQ, Nikkei, S&P 500, and more. What you get from these indices is a chance to predict the prices of global commodities.
Lastly, we have stock trading, which happens to be one of the largest traded commodities. The platform offers stocks from global brands such as Apple and Google. You also get stocks from other industries such as Banking, Manufacturing, textile, etc.
As mentioned earlier, Easytrade55.com is the parent company. However, the company claims to reside in Germany, a claim BaFIN refutes. Furthermore, there’s no business registry of the platform anywhere in Germany or Europe.
We don’t have the names of the people running the platform. And that makes TradingRoomStar an anonymous investment and trading platform. There’s nothing worse than investing with an unknown platform.
No one gets to recover funds from an anonymous platform. The platform usually exits before anyone can recover funds. Hiring recovery agents won’t help much as these agents don’t have the power to freeze bank accounts.
A recent investigation revealed that these agents are part of the scam. The agents will make excuses to try and make you send funds. These include claiming to have won a lawsuit, and you must cover legal fees to earn part of the settlement.
No client has come out and claimed victory with the platform. You don’t get to see any positive comments or reviews of the platform anywhere on the web. And this speaks volumes as it shows how insane the platform has become.
TradingRoomStar faces charges from BaFIN and CONSOB, two of Europe’s financial regulators. There’s no document to prove that the platform follows any legal framework for trading.
Please stay away from anonymous and unregulated platforms. Instead, check with regulators to confirm whether a platform is dully registered. You can verify this with regulators such as ASIC, CFTC, CNMV, FCA, and the SEC.
Despite claiming to offer live chat support, the platform only has an email address. So again, we see a platform desperately trying to control the communication lines. That’s why we insist that investing with the platform is a problem.
There are several deposit options meant to ease up the process. However, withdrawing funds from the platform remains the biggest hurdle facing investors. No investor has had the chance to withdraw funds.
There’s no safety of funds with a platform blacklisted by two regulators. In addition, the platform fails to segregate accounts or offer insurance cover for deposits made.
Please stay away from TradingRoomStar; and it’s a disgraceful trading platform.
PS: Go for innovative investment opportunities that safeguard your interests.
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