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Meaning that you can use the web trader to execute your trades, but under which terms, nobody knows. We’ve searched the FCA register and could not find Trade99 as a regulated entity. What we did find, however, is the warning against the company. The FCA says that the company ran an unregulated scheme in the UK and warned its citizens against it. Based on everything written so far, you can conclude easily that Trade99 is a scam broker with a shady past and unknown future. The company was established offshore in the Commonwealth of Dominica and has no regulation whatsoever for its operations.
Many of the claims they make on their website are simply untrue. Traders can expect to receive less than they were promised in terms of asset selection, platform choices, and regulation. By now they have morphed into something else and by another name (all with scam positive reviews – check the reviewers out). Remember all offshore, unregistered trading organisations are almost certainly illegal operations and will scam you.
Companies providing online brokerage services without a license cannot provide their clients with any sort of protection. As many online trading platforms have cropped up in recent years, trading has become more accessible and less consuming these days. Online platforms are so easy to use that even a novice trader can start trading quickly. Things have become more comfortable with the launch of mobile trading apps as it allows the investors to carry out trading at any time and from anywhere. However, not all online trading platforms are good enough.
However, our Trade99 review establishes that the company is ambiguous and unreliable. Furthermore, the problem is that the broker doesn’t clearly state the amounts or terms for any of these fees. Most reputable brokers give their users clear and accessible fee schedules.
This membership has many benefits, and one of them is the protection of 20,000 Euros for each complaint filed. Financial Commission mediates any disputes caused by the third party. Trade99 is an online trading broker with no regulation. Since the broker has no regulation, it cannot be legally operating anywhere. We’ve decided to check if any regulatory body noticed it. I recently invested 300euros with Trade99 with a promise of 150euros bonus from them.
Trading Bonuses – Trade99 Is Seducing Novice Traders
Trading with high leverage increases your profit chance, but one should keep this in mind that it also multiplies the risk of loss. So any trader should be cautious when trading with high leverage. If you were scammed by a Trade99 forex broker, there is a possibility to get your money back.
It is years now when I deposited £150 and I don’t know if my account is dead or alive. AnyDesk and TeamViewer softwares are double edged. For one, you provide complete access to your computer to someone else who, essentially, takes over as the new user. Note that these softwares are 100% legal meaning that your approval will be needed if someone is to tinker inside your PC. A little bit different warning we got from Australia. In the ASIC register, there is Trade 99 Pty Ltd, a legit company.
Also, the profit earning far less than current trading. Both Forex and stocks are entirely different from each other. Forex is for the brave-hearted, who can achieve significant losses and achieve big gains. On the other side, the stock market gives limited benefits. The broker discloses that it has the right to alter the minimum/maximum deposit amount whenever it chooses to do so.
A broker that operates in Hong Kong would have to register with the Hong Kong Securities and Futures Commission, which would hold the broker to high standards. Spreads and Commission — The only thing that is not good with Trade99 is its high spreads. Trade99 charges service fees, withdrawal fees, and deposit fees. The firm offers a trade bonus, which is mainly dependent on the amount of the withdrawal made. Trade99 supports all kinds of major payment options like bank wire transfer, Visa/Master debit/credit cards, and bitcoin. Trade99 claims to be under the jurisdiction of “The Financial Commission.” This commission is not a financial regulator like the FCA or CySEC.
How Online Trading Scams Work?
You need to know that you are not the only victim of the Trade99 scam. According to our review, most of the clients of Trade99 are from the UK, New Zealand, and Australia; we checked registers of regulatory bodies of these countries. Theforexreview.com needs to review the security of your connection before proceeding. I asked the the man where are you and he said Hong Kong. I said that i am reading about your company Trade99 and the web is saying that you rob people.
- Even if the brokerage is regulated, it is best to avoid it if the regulator happens to be outside your jurisdiction.
- Trade99is an obscure financier who has negatively drawn the attention of regulators.
- The trading platform comes with excellent analytical tools.
In short this platform has close to nothing useful save for a couple of designer choices. The safety of your money is a top factor to consider in any platform. Investing your money with anonymous platforms not only puts your money at risk. Your data may fall into the wrong hands attracting criminal activities during the registration process.
You have no way of getting your money back legally. In addition, the companies claiming to do so are also going to scam you. Note that the content on this site should not be considered investment advice.
Trade99 Review – What’s Wrong With This Forex and CFD Broker?
Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence. This website is free for you to use but we may receive a commission from the companies we feature on this site. The CVV code is the one thing that separates a buyer from a product.
The average cost of trade is usually 1.5 pips, and most legitimate brokers strive to reduce said value by as much as possible. However, the country, even though regulating the banking sector and some non-banking institutions, does not do the same for forex and CFD brokers. Reliability — Trade99 is one of the most reliable trading platforms which have recently been granted the ‘A category’ membership by the Financial Commission.
The advertisement showed up in the SMH after news about Atlassian boss fortunes in trade99.com. This was an unfortunate link that ended me in $500 invested in their supposed bitcoin. I lost the money despite that I asked about cancellation many times to no avail and to more deceit. The worrying part is the identification I provided to the scammers, address, phone email and Mastercard that I cancelled after. It’s safe to say that Trade99 was not found in the commission’s registry which puts it in the category of UNREGULATED brokers. The trading platform offered by Trade99 is MetaTrader5.
Labeled Verified, they’re about genuine experiences. Claim your profile to access Trustpilot’s free business tools and connect with customers. Do not invest a penny, very unprofessional will buy your trust by being friendly, grow your account and then will lie to you trade99 review rob you of everything although you stick to the rules. All the equity I had DISAPPEARED from my account within one day. They deceive you for weeks to finally stop communicate and keep all your money. Please enter the email address you provided during registration.
They use fake software,, dont really hold BitCoin and you will never get any money out. The staff are all Conmen – Valentine, Stas, Sam – they are all false names anyway. I had a feeling it was a scam they said not to tell my bank I was buying Bitcoin. Yes i did the same even telling them that i had only a short time to live. You ought to receive an instant reply to your query, if not fast. Nevertheless, fraudsters cut off communications upon receiving your money.
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Are Funds Safe With Trade99?
One country they definitely cannot offer services in is New Zealand, where the FMA has put out a warning against the broker. The details of our Trade99 review have determined that this broker does not have adequate regulation to ensure the security of their traders. The first indicator of the Trade99 scam is that they give an address for an office in Hong Kong but aren’t actually located there. Their parent company, Nohelious International Marketing Operations, is based in the Dominican Republic.
Is Trade99 Regulated?
As an open source community, we believe in open licensing of content so that other members of the community can leverage your work legally — with attribution, of course. This has the added benefit that others must share their improvements in turn with you. Combine a dull platform, a lack of regulation, a spread that helps no one and https://forex-review.net/ what you get is yet another “broker” that is best left untouched. At some point or another you might stumble upon a “recovery” agent or agency that promises to retrieve all your money back. This sounds all too good to be true, and that’s because it isn’t. Before proceeding with the recovery they will ask a payment for their services.
Scammed by a Trade99 broker? What to do?
We use dedicated people and clever technology to safeguard our platform. Trade99 are posting their own 5 star reviews so they can con more money out of anyone willing to listen. I was defrauded by this company, I was lucky to have met [KARL . FISCHETTI @ P R E MI U M RE COVERYINC. C O M] he assisted me with the getting my money back from them….Please stay away as far as possible from them.