A Deceptive Broker Adopting Money Hoaxing Policies
TradInvestor is into forex trading and CFDs. There is no information for the headquarters or the owners of the company. The company’s official web domain is: https://www.tradinvestor.com.
While writing this TradInvestor review, I found this company to be based out of Bulgaria. In the terms and conditions on the website, it is cited that the company is governed by Bulgarian’s rules and regulations. The Financial Supervision Commission of Bulgaria (FSA), however, does not have issued any licensee to the TradInvestor. The relation between Bulgaria and the company is still unclear.
There is no information about the regional or registered office. There are no details about the ownership of the company. Hiding ownership is indicative of the fact that they are afraid to be caught. The company has protected its interest in not being searched by, on any of the regulated companies registers by hiding the location and headquartered details.
Forget about the regulation, if you are trading with TradInvestor, you are not sure of the people you are speaking to, their location and about their experience in the trading field. It is a scam developed by a couple of like minded fraudsters. The sole purpose of TradInvestor is to attract funds and do not expect them to get back to you.
TradInvestor is not regulated by any of the financial regulating bodies. In addition to that, there are no details about the parent company. It is thus, an unregulated offshore broker with hidden origin details.
A regular broker, on the other hand, falls under the regulation of the licensing authority. It has to abide by the compliances set by the authority and to follow generalized rules and regulations in daily operations. Security of funds, fair trading practices and compensation in the case of the company going bankrupt are other important advantages of going with a regulated broker.
TradInvestor is further not allowed by the US to do any trade with its citizens. While the origin of the company is still in doubt, this ban by the US comes as solid proof that the company is not worth investing with and is in fraud trading.
Bizarre High Minimum Deposit (and Account Types)
The company does not extend any demo account or free account, not even with limited usage to its traders. You have to invest the money and only then you will be able to judge the trading quality of the company.
The company is providing 4 types of live accounts.
- Silver Account: This is the basic account of the company. There is no clarification provided for the leverage ratio and the spread. The minimum deposit limit is set to 2,500 Euros. Irrelevant services like recommendations, marginal loans are provided which are actually of no use. A fresher in the trading field has no good reasons to invest with such a high minimum deposit amount. A professional trader, on the other hand, will be more interested in knowing about the leverage offered and the pips that must be competitive for him to earn profits.
- Gold Account: A minimum investment of 10,000 Euros, with no access to specialized services, is another offer of the company. While you get a senior account consultant assigned to you, it is still not clear if he is more experienced than you or not. You are entitled to weekly seminars and free webinars. It is not going to be a practical trading session for you. It looks more like a classroom course, with automated materials running the theory.
- Platinum Account: A minimum deposit of 50,000 Euros with no details of trading conditions will make you land into another scam of the company. Such a huge investment, at least expects the trading conditions to be cleared.
- Diamond Account: A whopping investment of 100,000 Euros and this is the best account offered by the TradInvestor. There is no clarity of the trading conditions, spread, and leverage ratios.
No demo account along with 4 different types of trading accounts with a starting minimum investment of 1,000 Euros is not genuine. The regulated broker companies, on the other hand, provide live accounts starting with the minimum deposit as low as $50 and offer very competitive spreads starting from 0 pips with leverage ratios not going higher than 1:20 itself. Further, demo accounts are provided to the traders, so that they can understand the market before actually investing their money.
Another hitch in the list is the absence of the Meta Trader platform. MetaTrader 4 and Meta Trader 5 are the most reliable and secure trading networks of the broker industry. Be it a forex trading or CFDs, MetaQuotes Software Corporation has always matched the expectations of the traders. Free demo accounts for amateur’s while real-time data analysis, analytical tools, trading signals for professional traders make it an easy-to-use trading platform.
TradInvestor, on the other hand, has been restrained from Meta Trader and has its own less-proven online trading platform. The platform lacks analytical tools and is not user friendly at all. As abiding by their money eccentric approach, it does not provide any free or demo account.
TradInvestor’s Hoax Methods
Coming to the deposit and withdrawal, the company accepts all credit/debit cards, bank wire transfers, and BTC. There is no provision for popular E-wallets like Skrill. Money transfers are not genuine as they are not credited into any company’s account, rather into personnel accounts.
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The absence of Skrill as a payment channel is of no surprise as it has recently adopted an “Anti-scam policy”. According to this policy, Skrill, now, does not extend its services to unregulated brokers. Apart from the regulation, the origin of TradInvestor is not clear; hence Skrill has not obliged its services to the company.
- Deposit Time and Absence of USD
Deposits require a minimum of 4-5 days to get reflected in your trading account. You are not allowed to do deposits in USD. The bonuses provided by the company are counted as “undeposited funds”. You are not allowed to withdraw the bonus account. Thus, bonuses are nothing, but a forceful imposition of money to make the trades trending on the platform.
- Withdrawal Policies
The company may have forgotten to provide the basic trading details, but has not forgotten to implement a withdrawal conditions policy which undoubtedly involves a heavy amount of charges as fees.
While 5 days is considered as a normal withdrawal processing time by the company, the customers complain over the in-genuine fee charges of the company.
The withdrawal fees start from 25 Euros and go up to 50 Euros. The credit cards also attract additional processing fees which are 7 Euros. So, if we clear it, it is a minimum withdrawal fee of 32 Euros in any case. This is subjected to further addition in charges.
The company has set the minimum withdrawal limits as 100 Euros. In addition to this, if you are withdrawing through bank transfer, then you are eligible for an extra charge of 50 Euros. There are limits for maximum withdrawals also.
- Short Period Dormant Account Policy
Any broker company gives the time of 6 months for titling an account as a dormant account. TradInvestor regards an account that is inactive for 30 days as a dormant account. And then, starts the actual money laundering policies of the company. Account-holders have to pay a charge of 5% every month.
No Technical Support
Unlike Meta trader’s 24*7 live online support team availability, there is no support team for TradInvestor’s platform. No live chat option, Skype, phone numbers are provided by the company.
The company is not present on any social media platform like Facebook, Twitter, etc. There are no links on the website of the company. The website, itself, is full of Irrelevant, mismatching information. The absence from social media makes it clear about the negative customer responses and the failed efforts of the company for maintaining its online reputation.
Tradinvestor Review Conclusion
Tradinvestor is an offshore broker that is not credible and reliable in terms of origin, regulation, operations and support to the traders.
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