Trade LTD – Is It Safe or a Scam?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
Trade LTD - DO NOT TRADE WITH THIS PROVIDER
2.6/10
$100
Minimum Depositupdated 2020
Trade LTD has made a name for itself as a CFD Forex brokerage. With a seemingly enticing scheme with an offering of up to 4 accounts, an extensive variety of trading instruments, and a MetaTrader 4 platform, it’s no wonder a lot of traders have, at one point or another, considered going into business with this broker.
Sure, Trade LTD seems to have it all, but there’s just one problem: it’s not regulated. In fact, it does not even bother to disclose its licensure nor provide the regulatory body that it is registered with.
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://www.tradeltd.com/
Founded: 2017
Regulations: Not Regulated
Languages: English, Arabic, German, Italian, Russian, Spanish
Deposit Methods: VISA, MasterCard, Maestro, Skrill, Neteller, WebMoney, Bank Wire
Minimum Deposit: $250
Free Demo Account: No
Number of Assets: N/A
Types of Assets: Forex, CFD
Trading Accounts and Conditions
Trade LTD has made a name for itself as a CFD Forex brokerage. With a seemingly enticing scheme with an offering of up to 4 accounts, an extensive variety of trading instruments, and a MetaTrader 4 platform, it’s no wonder a lot of traders have, at one point or another, considered going into business with this broker.
Sure, Trade LTD seems to have it all, but there’s just one problem: it’s not regulated. In fact, it does not even bother to disclose its licensure nor provide the regulatory body that it is registered with.
Still, at $250 initial deposit and leverage of 1:200, we’re hoping that our initial research is wrong and that Trade LTD is actually a legit company worth opening an account with.
If you are just as curious as we are about Trade LTD, keep on reading our review about it below.
Trade LTD – Advantages
Admittedly, Trade LTD is neatly packaged with benefits that include having MetaTrader4 as its trading platform, its solid leverage, the sheer variety of trading instruments that it offers, and the fact that it only requires $250 as starting deposit.
We briefly explain each of the advantages below:
MetaTrader4 as its trading platform
Experts in the trading field will tell you that the platform is a make or break criterion. In the same vein, they champion MetaTrader 4 and 5 as the only valid options these days.
It’s worth noting then that Trade LTD uses MetaTrader 4 as its platform, making it possible for its users to gain access to market indicators and various charting packages.
Solid leverage of 1:200
Another impressive thing about Trade LTD is that it has a leverage of 1:200. As most authorities in the trading world would tell you, this is a very solid ratio to work with. It’s not ridiculously high as to suit only those with an appetite for high risks, and it’s just enough to gain a conservative profit from this–it’s a fit for most trading approaches if you ask us.
Wide range of trading instruments
Trade LTD offers a wide variety of trading tools for its clients. Through it, you’ll be able to choose from a multitude of currency pairs and CFDs such as stocks, indices, commodities, and cryptocurrencies.
Requires $250 as a starting deposit
True enough, $250 seems to be the industry standard for a regular initial minimum deposit. However, seeing as most brokerages choose to exceed the suggested amount, we believe that Trade LTD is worth commending for their adherence to this directive. So, kudos to Trade LTD for this.
Trade LTD – Disadvantages
With so many positive attributes to it, we’ve nearly convinced ourselves to open an account with Trade LTD. It’s just too bad that we’ve uncovered the disadvantages that we’ve listed below. First, we’ve verified that this is not indeed a regulated brokerage. We also don’t like the fact that it does not offer a free demo to interested traders. And finally, the spreads are quite high.
We explain each of these disadvantages below:
Not regulated
Trade LTD operates under an umbrella company called BUSHIDO TECHNOLOGIES OÜ. Although Trade LTD itself does not mention the regulatory body in charge of it on its website, we found out that its main company is registered in Estonia. However, we also discovered that its home base is in Austria. Naturally, our scam radar started tingling and we proceeded to uncover further details about this.
The result of our investigation: zip, zilch. This broker does not seem to be authorized anywhere, be it in Austria or Estonia.
But that’s not all, its trading platform available for download has been flagged by CONSOB, Italy’s financial regulator. If its affiliation and refusal to disclose its regulatory body are any indication, then we can say that Trade LTD is not a company that one should do business with.
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.
No free demo
The truth is that we love demos, especially when it comes to demo accounts for trading. These give us a good look into the trading platform without fully committing our hard-earned money into the system. And so when we found out that Trade LTD does not offer traders a free demo, we had to wonder why. Plus, why would Trade LTD offer its trading platform MT4 for download on its website if it won’t offer a free demo?
We honestly don’t have the answer to these questions, and we’re just chalking this up as suspicious behavior on the part of Trade LTD.
Spreads are high
So without a demo account, we simply set to reading the spreads announced in Trade LTD’s website. What we found out is that it offers spreads that start from 2.5 pips for the EUR/USD pair, a little bit too steep for us and most traders, to be honest.
There are a lot more brokerages that offer spreads at half the amount of a pair, so we’d rather take our chances there.
To Sum Up Our Impression of Trade LTD
This is what our overall impression of Trade LTD is:
Conclusion
The truth is that if we were to base this by the number, the pros outweigh the cons for Trade LTD. However, it should be noted that the implications of the disadvantages still carry the weight of the decision. And so we say that not having a proper regulatory body that oversees its operation still should be a major consideration. If you’re looking to explore your trading luck, it’s better to try some other brokerage that will not potentially run off with your money.
Trade LTD
Pros
- MetaTrader4 as its trading platform
- Solid leverage of 1:200
- Wide range of trading instruments
- Requires $250 as a starting deposit
Cons
- No regulations
- No free demo
- Spreads are high
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.