Tradelyn – Is This Broker Safe?

Website URL: https://tradelyn.net/

Founded: 2012

Regulations: No Regulation

Languages: English

Deposit Methods: Wire Transfer, Credit Cards, MoneyGram, Western Union, Bitcoin, PerfectMoney.

Minimum Deposit: $250

Free Demo Account: No

Number of Assets: Unknown

Types of Assets: Binary Options

Trading Accounts and Conditions

Given below are the trading accounts offered by Tradelyn:

• Starter Account: You need to make a minimum deposit of $250 to be able to start trading on this type of account.
• Regular Account: For a Regular Account, you need to first put in $1,000 to begin trading.
• Premium Account: For a Premium Account, the minimum deposit needed is $5,000.
• Executive Account: To trade using an Executive Account, you need to first make a minimum deposit of $10,000.

There is no information about Tradelyn’s other trading conditions. So, we do not know what the spreads are like and neither do we know about what kind of leverage is offered by this broker.

Tradelyn – Advantages

Here is the single advantage that we could find for Tradelyn:

• Decent Minimum Deposit Requirement

The minimum deposit you need to make to start trading with this broker is $250, which is well within industry standards. However, you should also know that there are much more reliable and reputed brokers who ask you to make much lower deposits.

Tradelyn – Disadvantages

After seeing the long list of disadvantages of trading with Tradelyn, you will agree with us when we say that this broker is not safe to contract with. Here you go:

• Anonymous Website

We do not know anything about the company that operates Tradelyn. The broker’s website is missing this critical piece of information. We do have a New York, USA address and phone number at the bottom of their home page.

Besides this address and telephone number, we do know where the parent company is incorporated.

There is also a secondary address provided, which is a London, England address. But once again, we do not have any information about the identity of the company that runs this brokerage.

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• Lack of License

This broker is completely unlicensed.

A broker needs to be properly regulated for your funds to be safe, and for you to get protection against scamming or broker bankruptcy, so trading with unregulated broker is a very bad idea.

We checked the NFA (National Futures Associations) of the US to see if this broker was licensed to operate in their country. However, we were not surprised to find that there was no broker by the name of Tradelyn listed on the NFA’s register.

We also checked the UK’s FCA (Financial Conduct Authority) to see if this broker was regulated that. However, once again, we found nothing.

Getting a license to operate in both the UK and the US is not easy. Both countries’ regulators have stringent standards that brokers must meet before they are granted a license. And this broker definitely doesn’t meet any of those standards.

• Managed Accounts Offered by Market Maker Through Auto Trader

Tradelyn, just like most other brokers, is a market maker. This means that they make money only when a trader loses money. So, a broker offering to manage your trading account is not a good idea. In fact, it is actually considered a serious conflict of interest.

The Auto Trader offered by Tradelyn is just another method of a broker managing your trading account for you. Which is something we definitely consider is not an honest move on the part of the broker.

• Trading Bonuses Offered

Tradelyn also offers trading bonuses, which is a big red flag for us. Trading bonuses have been banned by most strongly regulated markets for a reason. They are unfair and are tools used by scammers to rob unwary traders of their hard-earned money.

Trading bonuses come with ridiculous conditions, such as having to meet a massively high trading volume requirement before a trader is allowed to withdraw their funds. And if you don’t meet that required trading volume, the broker can use that as a pretext for cancelling your withdrawal request.

• Unrealistic Promises of Profits

Tradelyn also promises its prospective clients that it will give them returns of as much as 90%. This is in reality a very unrealistic figure and basically a lie.

In fact, brokers that are honest warn their customers of the dangers of speculating; they clearly inform their clientele that they could lose as much as 70% to 80% of their initial deposits.

• No Support for MetaTrader 4

This broker also does not offer support for the MetaTrader 4 trading platform. The MT4 platform is the most reliable and user friendly of all trading software available in the market today.

It comes loaded with extra features that make trading much easier, such as automatic trading bots (Expert Advisors), charting options and market indicators. All of these features are customizable so that users can really narrow down their trade preferences if they wish.

What Tradelyn offers is a web-based trading platform. However, we were unable to view the actual platform since there was no demo account available.

• No Demo Account Available

While not a deal-breaker, the fact that Tradelyn does not offer its clients a demo account simply adds to the list of reasons why it’s not a good idea to trade with this broker.

A demo account allows traders to test trading conditions offered by a broker – before putting down real money. Most scammers ensure that there is no demo account so that potential clients do not get put off by the unfriendly terms offered.

Conclusion 

This is not a broker that you should trust. Tradelyn has all the hallmarks of a scammer and it would be best if all traders stay away from this broker.

Tradelyn

2.3

User Experience

3.4/10

Payment Options

2.2/10

Security

2.0/10

Support

1.8/10

Reputation

2.1/10

Pros

• Decent Minimum Deposit Requirement

Cons

• Anonymous Website
• Lack of License
• Managed Accounts Offered by Market Maker Through Auto Trader
• Trading Bonuses Offered
• Unrealistic Profits Promised