Tradeditional – Can You Trust Them?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
Tradeditional - DO NOT TRADE WITH THIS PROVIDER
2.6/10
$100
Minimum Depositupdated 2020
The only thing that you will be able to find out about Tradeditional on its official website is an address of Zurich, Switzerland. Apart from this, there is not any parent company name mentioned nor any registration number or other details related to the regulatory status of this broker. However, when the Swiss financial market supervisory authority FINMA’s registers were checked, the broker did not appear in their database of registered brokers. Moreover, Switzerland is famous for its renowned financial service sector where to start a brokerage company one must have 20, 000, 000 CFH, and many other requirements.
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://tradeditional.com/
Founded: No information found on the website
Regulations: Unregulated
Languages: English, Spanish, German, and Dutch
Deposit Methods: Comodo SSL Certificate, Credit/Debit Visa cards, Wire Transfer, Pay Safe Card, Web Money, Qiwi Wallet, Yandex Money, Astro Pay, Credit/Debit Master cards
Minimum Deposit: Their basic account starts with $250
Free Demo Account: No any
Number of Assets: Over 1000 trading assets
Types of Assets: Stocks, Forex, Commodities, Indices, and Cryptocurrencies
Trading Accounts and Conditions
Tradeditional offers five types of accounts and their conditions are:
- Basic Account: Minimum deposit is $250
- Silver Account: Minimum deposit is $10,000
- Gold Account: Minimum deposit amount is $50,000
- Platinum Account: Minimum deposit amount is $100,000
- Diamond Account: Minimum deposit amount is $500,000
Tradeditional – Advantages
Tradeditional does not offer any incentives or bonuses to the clients.
Tradeditional – Disadvantages
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An Unregulated Enterprise
The only thing that you will be able to find out about Tradeditional on its official website is an address of Zurich, Switzerland. Apart from this, there is not any parent company name mentioned nor any registration number or other details related to the regulatory status of this broker. However, when the Swiss financial market supervisory authority FINMA’s registers were checked, the broker did not appear in their database of registered brokers. Moreover, Switzerland is famous for its renowned financial service sector where to start a brokerage company one must have 20, 000, 000 CFH, and many other requirements. This is why there are only a few brokerage companies licensed with Swiss financial market supervisory authority. Therefore, many disreputable brokers try to defraud the customers by showing themselves as a Swiss-based financial services provider.
Another most terrific fact is that Tradeditional is present in the warning lists of Belgium’s financial forex market regulator FSMA, and French financial supervisory authority AMF that is a major red flag for this broker.
So, we can conclude that the Tradeditional is an obscure suspicious forex broker that hides its identity and operates without any legal license.
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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Bonus Traps and Shady Withdrawal Policy
Tradeditional is offering three types of bonuses to the investors: a pending bonus, 1 trade on us bonus, and a birthday bonus. The interesting fact is that these bonuses are kept in a separate account other than the client’s personal account. To withdraw the profits gained from the bonus amount, the customer has to accumulate the minimum trade points which means for 1 EUR/USD/GBP of the bonus amount, the customer requires 0.1 trading point. Therefore, on the surface, these bonuses look very attractive but later on they turn into a double-edged sword. Whereas, it is informed you that all legit brokers never offer bonuses. It is only a trap used by hoaxers.
Furthermore, you should keep in mind that by accepting a trading bonus from this broker you would have to achieve a minimum trading volume to withdraw the bonus funds and profits from it. Fraudsters in other words use these bonus terms and conditions as an excuse for denying the withdrawal requests.
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High Trading Leverage and Risky Spreads
The leverage cap offered by Tradeditional is 1:100 which is rather a high figure. Whereas, all the legit brokers in the EU area are not allowed to offer more than 1:300, while in the US forex brokers cannot exceed leverage higher than 1:500. It is, therefore, a risk to the funds if you choose to trade with high leverage levels.
Along with this, the broker has not mentioned the spread values on its official website, however, once you login to their web trader platform you will be surprised to see the benchmark EUR/USD spread to be floated around 5.0 pips which is simply excessive as compared to the industry standard.
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Lies About Deposit Methods
Tradeditional advertised to have a variety of deposit methods including debit credit cards, wire transfers, and different electronic payment methods. While after registering with this dubious broker, you will come to know that the only deposit methods available are Gumball pay and Pitxtech. The broker has just mentioned all lies about its funding methods on their website.
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High Withdrawal Fee
According to the broker’s withdrawal policy, all the withdrawal requests will be charged a 3.5% service fee, which is a clear sign that the broker is reluctant to allow you to withdraw your money, which is why it has kept the withdrawal fee so high.
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Harsh Dormant Account Policy
Tradeditional charges an inactivity fee of 50 currency units from the clients’ accounts having zero trading activity in two months or 60 days. Hence, we can say that Tradeditional has one of the most harsh dormant account policies even as compared to other scammers.
Conclusion
Tradeditional advertises itself as a broker trading in over 1000 trading assets on a unique trading platform and claims to be based and regulated in Zurich Switzerland. While this sounds very promising, all mistrustful brokers like Tradeditional introduce their financial and investment offers, which are too good to be true. Investors who risk investing their valuable funds with brokers that are unregulated like Tradeditional will only lose their money.
That being the case, it is advised to always look up forex brokers from the well-established jurisdictions around the globe who can provide a guarantee for the fund’s safety as well as offer access to the compensation schemes in case of bankruptcy. Forex brokers operating and licensed in the UK, USA, and EU regions offer exactly the same facilities.
So, next time you’re planning to invest your money, only choose brokers that are under the jurisdiction of the countries mentioned. The regulations imposed on these brokers have the highest standards, and only legit brokers are able to comply with the strict guidelines and requirements.
Tradeditional
Pros
- None
Cons
- An unregulated enterprise
- Bonus traps and shady withdrawal policy
- High trading leverage and risky spreads
- Lies about deposit methods
- High withdrawal fee
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.
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