Terrarobo – Can You Trust Them?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
Terrarobo - DO NOT TRADE WITH THIS PROVIDER
2.2/10
$100
Minimum Depositupdated 2024
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://terrarobo.pro
Founded: 2024
Regulations: Unregulated
Languages: English, French
Deposit Methods: Cryptocurrencies
Minimum Deposit: $250
Free Demo Account: Not Offered
Number of Assets: 200+
Types of Assets: Stocks, Crypto, Commodities, Indices, Forex, Metals, NFTs
Trading Accounts and Conditions
Terrarobo offers their clients the following types of trading accounts:
- Standard: $250 is the minimum initial deposit. Leverage is 1:10. There is no Welcome bonus.
- Bronze: $2,500 to $10,000 is the deposit range. Leverage is 1:100. There is a 20% Welcome bonus.
- Silver: $10,000 to $25,000 is the deposit range. Leverage is 1:100. There is a 40% Welcome bonus.
- Gold: $25,000 to $50,000 is the deposit range. Leverage is 1:100. There is a 60% Welcome bonus.
- Platinum: $50,000 to $100,000 is the deposit range. Leverage is 1:100. There is an 80% Welcome bonus.
- VIP: $100,000 and above is the deposit requirement. Leverage stays at 1:100. There is a 100% Welcome bonus.
No commissions are charged. Spreads and other trading conditions are not mentioned.
Terrarobo – Advantages
There are no advantages to trading with Terrarobo.
Terrarobo – Disadvantages
Listed below are all the reasons why Terrarobo is marked a scammer:
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Lack of Regulation
The first sign of this broker’s scam is their lack of regulation.
Terrarobo claims to be based in the UK. The broker furnishes us with an address in that country, with the implication that they are based that and regulated there too.
However, all brokers that operate in the UK have to get registered with the Financial Conduct Authority. This body is the UK’s financial regulator. Without their consent, no broker can operate legally in this region.
We checked the FCA’s database; it is available on their website and checking for a broker’s regulation status is easy. We found out that Terrarobo is not registered with the FCA at all. This means that the broker is operating without the consent of the FCA and that makes them scammers.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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Blacklisted in Belgium
While checking for Terrarobo’s regulation status, we found out that this broker has actually been blacklisted by the Belgian financial regulator, the Financial Services and Markets Authority. The Belgian regulator has announced that this broker is a scammer and is operating in their jurisdiction without authorization.
When an authority issues a warning against a broker, it is best to listen and not do business with that broker at all. The chances of you being scammed are extremely high.
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Poor Trading Software
Terrarobo offers their clients the use of the Webtrader trading software. This is a basic software that does not do much to help a trader with their trades. You can buy and sell assets, have a few added functions, but that is all this software can do.
When you see regulated and legitimate brokers offering their clients trading software such as the MetaTrader 4 or the MetaTrader 5 platforms, you will understand how poor this software is.
The MT4 and MT4 platforms offer their users a wide array of tools and functions to make trading not only easy but almost intuitive.
While many scammers do not even bother to offer their clients a trading software (and lie about the fact), there are many more that do offer trading platforms to substantiate their claim to legitimacy. This does not mean that they can be trusted – as in this case.
Terrarobo offers a sub-standard software, and when you combine this issue with the other red flags we have found, it is confirmation that we are dealing with a scammer.
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Issues with Trading Conditions
We also need to highlight this broker’s trading conditions. They are also an indicator of their scam.
Terrarobo asks their clients to deposit a minimum of $250 initially. While this amount is just within industry standards, there are a growing number of legitimate brokers that allow you to open accounts with them for much less, as little as $10, in fact.
Next, the leverage ratio offered by this broker is too high. The UK and the European Union (which are the target regions for this broker) both have capped leverage ratios at 1:30. Anything above that is illegal. So, Terrarobo’s 1:100 leverage is a clear sign that we are dealing with a scam!
Their spreads are not mentioned anywhere on their website. However, when you see their Webtrader platform, the spreads offered there are at 0.4 pips. And the brokers claims that they do not charge commissions. This is not possible, since such a low spread without commissions would lead this broker to bankruptcy in no time. Thus, these numbers are just lies to attract more customers.
Other trading conditions are not mentioned either. All of this tells us that we are dealing with a scammer.
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Single Payment Option
The only way that you can make payments with Terrarobo is via cryptocurrencies and this is a huge red flag. You can see only logos of various cryptocurrencies and crypto exchanges on their payments section.
Cryptocurrency payments are all anonymous and irreversible. And this means that if you carry out a transaction using cryptocurrencies, then you will never get your money back and neither will you be able to trace it.
When you are dealing with a broker such as Terrarobo, one that has been blacklisted by a reputed financial authority, is not regulated and has been stamped a scammer, then it would be a very bad idea to carry out any financial transactions with them.
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Issues with Bonuses
We also need to mention that this broker offers bonuses. If you accept those bonuses then you will not be allowed to withdraw your funds until you have met Terrarobo’s minimum trading volume criteria, which is impossibly high. And this means that you will never get to the point where you will be able to withdraw your funds.
Conclusion
Terrarobo cannot be trusted. This broker is a scammer. Dealing with them would be dangerous.
Terrarobo
Pros
- None
Cons
- Lack of Regulation
- Blacklisted in Belgium
- Poor Trading Platform
- Issues with Trading Conditions
- Single Payment Option
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
eToro is a multi-asset platform which offers CFD and non CFD products. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.