Scam Brokers

Trades Universal – Can You Trust Them?

Chainbits Staff | Publish date: 06/04/2023 (Last updated: July 06, 2023 07:10 AM)

Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.

Trades Universal - DO NOT TRADE WITH THIS PROVIDER

2.3/10

$100

Minimum Deposit

updated 2023

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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.

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Website URL: https://tr-universal.com

Founded: 2023

Regulations: Not Regulated

Languages: English, Spanish

Deposit Methods: Visa, Wire Transfer, Cryptocurrencies, MasterCard

Minimum Deposit: Not Specified

Free Demo Account: No

Number of Assets: Not Mentioned

Types of Assets: Currency Pairs, Cryptocurrencies, Commodities, Stocks, Indices

Trading Accounts and Conditions

Trades Universal has not mentioned anything about the types of trading accounts they have. Added to this, on their website, the broker does not give us any information on the trading conditions they offer. We got that information after we registered for an account and accessed their trading platform and checked what trading conditions the broker had in place.

We found out that the EURUSD pair had a spread of 5.4 pips. The GBPUSD and USDJPY pairs were each at 5 pips. There was no mentioned anywhere of the leverage ratios this broker offers. We also did not get any information on other trading conditions such as commissions, fees, order execution methods and so on.

Trades Universal – Advantages

There are no positives about trading with this broker. Trades Universal is a scammer.

Trades Universal – Disadvantages

Given below are all the red flags that prove that Trades Universal is a scammer and therefore is not to be trusted:

Unregulated Broker

The most important aspect of running an online brokerage is ensuring that it is legally authorized to operate. This means having a clear corporate identity (you company name, contact information, etc. being clearly spelled out) as well being appropriately licensed by the relevant authority. If a broker does not have these basics in place, then it is a clear indication that things are not right with them.

And this is how we know that there is an issue with Trades Universal. This broker claims to be owned and operated by Everest Capital Ltd., a company that is based in the Marshall Islands. This country is an offshore zone and has no financial authority in place to regulate forex brokers like Trades Universal. In fact, laws are so weak there that a company can be incorporated in the Marshall Islands online – without the need for a physical presence in the country.

Thus, if a broker is incorporated in the Marshall Islands, for them to operate legally, they need to be authorized by a relevant financial regulator – from the jurisdiction in which they plan to operate.

Since this broker has not given any other licensing and regulation details, we can say for sure that Trades Universal is not regulated at all. And this means that this broker is operating illegally – and is therefore a scam.

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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.

AvaTrade

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Blacklisted by CNMV

We are not the only ones that have noticed that this broker is operating without authorization. The Spanish financial regulator, the Comision Nacional Del Mercado De Valores (CNMV), has blacklisted Trades Universal for operating in their country without a license.

When a reputed financial regulator such as the CNMV blacklists a broker, then you know that you are dealing with a scammer.

Poor Trading Platform

A main offering of an online broker is their trading software. So, legitimate brokers ensure that their trading software is the best in the market. And this means offering their clients the MetaTrader 4 or MetaTrader 5 platforms to us. Legitimate brokers also make sure that their clients have access to the demo account so that they can actually try out the software as well as the trading conditions associated with that software before they actually invest with them.

With Trades Universal, we do not get access to any demo account to check their trading platform. In fact, we had to register for an account so that we could access their trading platform to see for ourselves what this broker actually offered.

We were not surprised to see that the trading platform offered by Trades Universal was of the poorest quality – a web-based trading software that had barely any functionality. This is the kind of trading platform that we have frequently seen being offered by scammers. These types of trading software can be easily rigged to make it seem like you can carry out trades on them and that your money is being effectively invested. The truth is that your money is being pocketed by that scammer and their trading platform is just a front!

Issues with Trading Conditions

We also need to point out Trades Universals’ lack of trading conditions. Along with the trading platform, the trading conditions are a broker’s key offering to their customers. Therefore, legitimate brokers ensure that they are clearly spelled out on their websites – and traders can also use the broker’s demo account to test those trading conditions for themselves.

Therefore, the fact that Trades Universal does not even bother to advertise their trading conditions on their website is a red flag for us.

We had to check this broker’s trading platform for ourselves to find out about their trading conditions. At 5.4 pips, the EURUSD spreads are much too expensive – especially when the market average ranges between 0.5 pips and 1.5 pips. And since we do not know what commissions or fees this broker charges, we do not know the real cost of a trade.

And, as we mentioned earlier, we do not know anything else about Trades Universal’s trading conditions.

This is a clear indication that we are dealing with a scammer.

Issues with Payments

This broker claims to offer multiple payment methods – Bank Wire, Credit Cards and Cryptocurrencies. However, when we checked their payments section, we found out that you could only make credit card payments – but only via a very obscure payments processor. Such discrepancies raise further questions about this broker’s trustworthiness.

There is also a lack of clarity about this broker’s withdrawal policies. We are only told that you will be charged a 10-Euro fee if your withdrawal is less than 100 Euros.

Conclusion

Trades Universal is not a broker to be trusted; they are scammers and best avoided.