Whenever it comes to select an offshore forex and CFD broker, the name Trades.com strikes the mind. It offers several types of accounts with an appreciable leverage. But it’s sad, the broker is not a regulated one. It is even worse. How? As market makers, they offer a managed account that is a gateway towards scam. It will be better to think twice prior to depositing funds here.
What Does Trades.com Offer?
Do you want to know what Trades.com offer? Below is the list that will no doubt, surprise you:
- High leverage – If you are looking to shake hands with a broker that offers a highly risky leverage, then Trades.com will be the right choice. Currently, it is offering a leverage ratio that is as high as 1:200 in almost all around the world.
- A highly popular platform for trading – Despite the fact that it is difficult to open a demo account followed by having a check on the platform, you may check credits offered by Trades.com. It is offering MetaTrader4, the most popular platform for trading. Also, it features a good amount of customizable market indicators and trading robots.
The activities are carried out with the help of easy-to-run trading sessions. MT4 has an exclusive set of advanced tools for charting.
Despite having such exclusive benefits, why must you think twice before investing at Trades.com? Here is the answer!
Remarkable Disadvantages of Trades.com
There are some highly remarkable disadvantages in association with Trades.com. They are:
- Has no license – Do you know who owns Trades.com? Yes, it is none other than the Marshall Islands based Trade Up Ltd. Surprisingly, Domainmatch Limited operates the entire organization. Unfortunately, neither of the two companies hold a valid license by any official regulator.
As a result, it is decrementing the credibility of the broker. It is better to trade with a broker that holds a valid license by the higher authority. It will help a lot in insuring your funds without causing any risk.
- Managed accounts by Market maker – Before settling any deal with a broker, do you go through terms and conditions? Yes, very good! The ones by Trades.com acknowledge that they are serving as market makers. Do you know what it means?
It means that Trades.com is making money whenever their clients are facing a heart rendering loss. It is, however, a big problem and is a matter to take care.
- Trading bonuses with no specific withdrawal conditions – Trades.com offer trading bonuses that hardly comprise any particular conditions for withdrawal. Also, they hardly bother to reveal the same at any cost.
Customers need to be very careful and conduct in-depth research prior to moving ahead. The practice of offering trading bonuses is a controversial topic and is not running throughout Europe and other regulated markets. The additional withdrawal conditions including a minimum requirement for trade volume and many more prove too difficult to fulfill.
- Sky-rocketing initial deposit – Trades.com asks investors an absurdly high amount as initial deposit. The amount is really difficult for all to bear as all do not belong to the same income group.
Most brokers carry on with a pocket-friendly initial amount to invest, thus making it easy to trade. The same is reverse in the case with Trades.com.
- It does not accept flexible payment methods like Skrill – Investors will enjoy their jobs only when they will be able to make their payments easily. Rite! In the digital age, online gateways including Skrill are high in demand.
Unfortunately, Trades.com does not accept payments through Skrill. It is inclusive of an anti-scam policy according to which brokers using their platform need to prove that they hold a legit license. As Trades.com hardly holds a license, it does not care to take into consideration the most popularly used payment gateway. You may go with a credit card, debit card and wire transfer for paying.
What are Various Types of Accounts Offered by Trades.com?
It is interesting to note that Trades.com is offering various types of accounts. From there, it will become easy for investors to make the right choice. They are:
Other types of accounts involved with Trades.com include Islamic and corporate. If you want to start trading with any of the accounts above, then get ready to pay a hefty amount of money. The minimum limit that is set is above the ones that have been set by the industry.
It is great to learn that every account has almost similar features. Each one of them includes a manager along with market news and reviews. You may also go through video tutorials and expert trading sessions for perusal.
Investors looking ahead to go with lucrative areas of trading must go with Crypto trading. It will help in making money in an exclusive way. You will stay safe while trading with genuine and honest Crypto trading robots 24*7.
What are Various Methods of Funding at Trades.com?
Whenever it comes to the turn to deposit funds with Trades.com, you will come across a plethora of channels. This is the reason due to which scammers can easily deposit money in a fast and easy manner. They hardly want their users to face excuses for failing to deposit money.
Some of the most popular depository channels include MasterCard, Web Money, and Net Banking. Withdrawal of interests and other funds has been a major issue with this broker. If the withdrawal of funds becomes a serious issue, then everybody will think twice before going with that broker.
Scammers are always in a ready state to help you by providing luring offers to make money against a small deposit. As Trades.com is not different, better think twice before moving ahead. They don’t let their customers withdraw funds easily. And many people complain about this issue even though they don’t act on them.
What Does Trades.com Offer?
Every investor inquires about the offering made by the broker selected. Trades.com has very little to offer to its investors. CFDs are possibilities due to the existing risk warning in association. These warnings apply to brokerages that offer CFDs. Hence, it is not at all free for anything.
The platform will offer 1200+ assets related to finance. Surprisingly, Trades.com will feature software for almost every smart device that include desktops, tablets and smartphones.
Why Trade with Legit Brokers Only?
If you are planning to trade, then better go with brokers having valid licenses. Trades.com being an offshore broker will hardly provide any benefit to its customers. As it acts as a market maker, it is better to go with another broker.
Brokers having proper regulations by top official financial authorities will definitely be the right choice. There you will not only enjoy exclusive benefits but also ensure that your money will be in a proper channel.
Why Bother Trading with Trades.com?
Are you a veteran trader? If yes, then it will be an intelligent idea not to bother trading with Trades.com. Even, it is not a perfect place for beginners as there is hardly any comfortable platform. Some features that make traders think twice prior trading with this broker include the following:
- High minimum deposits
- Low spreads
- No commission
- Low leverage
After going through the points above, it is for sure that investors will stay alert before investing at Trades.com. Better to take time to come across a reliable channel rather than staying in a hurry.