Tradelly.AI – Are They Safe?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
Tradelly.AI - DO NOT TRADE WITH THIS PROVIDER
2.5/10
$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://tradelly.ai
Founded: 2024
Regulations: Lack of Regulation
Languages: English
Deposit Methods: Visa, MasterCard, Wire Transfer, Crypto, AstroPay, Deal, Interac
Minimum Deposit: €500
Free Demo Account: Not Offered
Number of Assets: 500+
Types of Assets: Forex, Indices, Crypto
Trading Accounts and Conditions
Tradelly.AI offers their clients the following types of accounts:
- Basic: This broker asks for a minimum deposit of €500. The minimum spreads being from 1.5 pips and the leverage is maxed at 1:10. There is a bonus of up to 15%.
- Bronze: This broker asks for a minimum deposit of €10,000. The minimum spreads begin from 1.2 pips and the leverage is maxed at 1:20. There is a bonus of up to 20%.
- Silver: This broker asks for a minimum deposit of €50,000. The minimum spreads begin from 0.8 pips and the leverage is maxed at 1:30. There is a bonus of up to 50%.
- Gold: This broker asks for a minimum deposit of €100,000. The minimum spreads begin from 0.5 pips and the leverage is maxed at 1:40. There is a bonus of up to 75%.
- VIP: This broker asks for a minimum deposit of €250,000. The minimum spreads begin from 0.2 pips and the leverage is maxed at 1:50. There is a bonus of up to 100%.
Other trading conditions such as order execution methods and commissions, to name a couple, are missing.
Tradelly.AI – Advantages
There are no advantages to trading with Tradelly.AI.
Tradelly.AI – Disadvantages
Here are all the red flags that prove that Tradelly.AI is a scam operation:
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Lack of Regulation
Tradelly.AI claims to be based in Switzerland – Zurich, to be exact. The broker also claims that they are certified by the CCA Conduct Authority. This is clearly a lie. Any broker based in Switzerland has to be regulated by the FINMA, or Swiss Financial Market Supervisory Authority.
We checked the FINMA’s online register to see if Tradelly.AI was licensed by the regulator. All brokers that are regulated by the relevant authority are listed on their registers, so it is a simple matter to verify a broker’s regulation status. When we checked about this broker, we found out that this broker is not regulated by the Swiss authority at all.
We also need to point out that there is no such authority by the name of CCA Conduct Authority. Tradelly.AI made that name up to give themselves a sense of legitimacy.
When a broker lies about their regulation status in this way, you know that you are dealing with a scammer.
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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Poor Trading Platform
A broker’s single product offering is their trading platform. So, legitimate brokers offer their clients the best possible online trading software in the market. This usually means offering their clients the MetaTrader 5 software, which is currently the world’s number one trading platform. This software offers traders a wide range of trading options, an array of functions, market indicators and tools for trading, and a massive market place for third-party app for trading. The point it, legitimate brokers ensure that their clients get a really good quality trading software for their trades.
Tradelly.AI promises their clients an advanced trading platform. This unfortunately is another lie. What this broker offers instead is a trading platform that we have seen being used by many other scammers. It is a poorly constructed software with some charts that are imported from TradingView.com, and this platform cannot do more than allow traders to buy and sell a limited set of assets.
When a broker offers a such a poor-quality trading platform, it is a sign that you are dealing with a scammer.
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Poor Trading Conditions
Another indicator of a broker’s scam is issues with their trading conditions. While the trading platform is the broker’s product, the trading conditions to use that platform is the broker’s service offering. These conditions tell traders whether it would be advantageous or not trade with that broker.
With Tradelly.AI, once again we see issues with these service conditions. First, their minimum deposits. A 500-Euro minimum deposit is much too high. There are some excellent brokers in the market today whose minimum deposits are as low as $10.
Next, the minimum spread of 1.5 pips looks good, until you realize that the total cost of trade is not specified. We are not told what the commissions are. Added to this, when we checked the spreads on their trading platform, they were insanely high at 23 pips. Such massively high spreads tell us that this broker is not worth dealing with and is definitely not to be trusted – specially since we still do not know anything about their commissions.
As for the leverage ratios, they are also too high at 1:50. Switzerland, where this broker claims to be based, is a part of the European Union. And in the EU, brokers are not allowed to offer a leverage of more than 1:30. So, what this broker is offering is illegal, and is therefore a clear sign of their scam.
Other trading conditions are simply missing, which is another red flag that Tradelly.AI cannot be trusted.
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No Clear Withdrawal Policy
Another important element that this broker omits to clearly spell out is their withdrawal policy. In fact, we know nothing about Tradelly.AI’s withdrawal policy. We are not told if there is a minimum or maximum withdrawal limit. We are not told if there are any trading turnover target to be met before withdrawals are allowed. We do not know what the withdrawal request processing time is. And we are not even told if there are any taxes or fees for withdrawals.
This complete lack of information is just another piece of evidence that tells us that we are dealing with a scammer.
Conclusion
Tradelly.AI cannot be trusted; this broker is a scammer and therefore not safe.
Tradelly.AI
Pros
- None
Cons
- Lack of Regulation
- Poor Trading Platform
- Poor Trading Conditions
- No Clear Withdrawal Policy
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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