Trades.com – Is It Safe or a Scam?

| Publish date: 01/26/2020 (Last updated: March 24, 2020 01:16 PM)
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Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.

Trades - DO NOT TRADE WITH THIS PROVIDER
2.4/10
$100
Minimum Deposit
X

updated 2020

Trades is an offshore Forex and CFD broker. It is registered in the Marshall Islands and has many offerings of trading products. In terms of leverage, it is quite generous as it goes up to 1:200. Trades uses the MegaTraders4 platform and offers a web-based trading terminal.

Trades may seem like the typical brokerage but it is actually not regulated. It does not fall under any regulatory body.

Another thing to ponder about Trades is the high minimum requirement you have to pay as a deposit.

Try these regulated brokers if you want to start trading cryptocurrencies

Plus500 Review - Regulated broker
Europe's #1 CFD Trading Platform

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.trades.com/

Founded: N/A

Regulations: Not Regulated

Languages: English, Russian

Deposit Methods: Visa, MasterCard, wire transfer, and e-wallets

Minimum Deposit: $5000

Free Demo Account: No

Number of Assets: N/A

Types of Assets: Forex, CFD

Trading Accounts and Conditions

Trades.com is an offshore Forex and CFD broker. It is registered in the Marshall Islands and has many offerings of trading products. In terms of leverage, it is quite generous as it goes up to 1:200. Trades uses the MegaTraders4 platform and offers a web-based trading terminal.

Trades may seem like the typical brokerage but it is actually not regulated. It does not fall under any regulatory body.

Another thing to ponder about Trades is the high minimum requirement you have to pay as a deposit.

Don’t get confused Trades with the other brokerage Trade, read on to find out more:

Trades  – Advantages

Trades.com offers a lot in a box. It uses one of the best trading platforms, the MetaTrader4. It also offers a good leverage and comes with a selection of trading instruments and multiple options to withdraw and deposit.

Let us look at each advantage in more detail:

Utilizes MetaTrader4 Trading Platform 

Trades.com is offers a great option in terms of the trading platform it uses. With the use of MetaTrader4, it makes Trades a part of the 80% who chooses this platform. The MetaTrader4 is a great Forex trading terminal. It doesn’t stop there. Trades also adds the web version.

With MetaTrader4, you can get help with automated trading session using the trading robots. It also boasts 100 customizable market indicators. MetaTrader4 also provides charting tools. Whether you are a newbie or a pro, you will not have trouble figuring out how it works.

Great 1:200 Leverage

Leverage wise, 1:200 is good. There is a positive point to having a brokerage than can offer more than the average. However, always proceed with caution. This is where it gets risky. Most of the brokerage that offers more are offshore brokers, and most of them are popular to be connected with fraud and scams.

Different Trading Instruments

Trades offer a lot of trading instruments. There are actually many options you can choose from. There are the famous currency pairs, such as EUR/USD. You can also choose crude oil as an energy commodity. Then, there are offerings of precious metals such as hold. If you want to head the agricultural route, you can choose coffee. Trades also offers trading Dow Jones and Google.

Many Choices for Deposit and Withdrawals

The way you withdraw money should be as easy as you deposit it. Accessibility plays a vital factor. Trades did well in depositing and withdrawing. You can deposit or withdraw using credit cards like Visa and Mastercard. You can also choose a wire transfer. If you are not really in with that, you can use e-wallets. You can choose from WebMoney, QIWI, Paysafecard, Ynadex, Vload, flexepin, and safetypay.

Trades.com  – Disadvantages

Trades looks promising if based on the advantages it offers. But don’t decide just yet. Checking upon the brokerage, we found out that it is not regulated. Before you can open an account, you need a hefty lot of cash. They have no free demo and their spreads are high. To close it up, they offer a trading bonus, but they do not disclose the withdrawal conditions.

These are the disadvantages explained:

Not Regulated

It is a bit confusing to find Trades registered under a different name, which is Trade Up Ltd. Add that the company behind the brokerage’s registration in the Marshall Islands. Looking at the history of scammers, the Marshall Islands is a popular location.

The laws on Marshall Islands are very open and won’t even require you to be there should you need to register a company. It’s an obvious place for a lot of irregularities to happen. Marshall Islands also does not regulate Forex tradings.

Plus500
$100
Minimum Deposit

Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.

AvaTrade
$100
Minimum Deposit

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.

 

Need for High Minimum Deposit

If you will open an account with Trades, you need to deposit a minimum of $5000. And that is just for their Bronze account. That amount is fairly huge to think even bigger companies offers trading at $5 minimum. This is just too much when the average minimum requirements of most brokers are around $250.

No Free Demo 

Part of what makes a brokerage exciting is the offering of a demo. With a demo, you can easily get a grasp of the feel and look of what you are getting into. With Trades, you don’t get that. Trying to register for a demo account only led us to an error page that says “403 ERROR.” It is disappointing not to get it to work.

Offers Trading Bonus with Undisclosed Withdraw Conditions

Trades comes with trading bonuses. However, don’t be happy just yet. There is a mention of trading bonuses offerings, but there is no black and white of its withdrawal conditions. It seems shady that they did not disclose how you can withdraw the trading bonus. If they are serious about giving it straightforward without a catch, it should be discussed then and there.

High Spreads

Traders want the best option. If you look at the standard on spreads, it is 1,5. Trades offers EUR/USD spreads at 3 pips. That is over the average offer and is very disadvantageous for the traders.

Conclusion

Trades.com is not a regulated brokerage. They registered it under a different name and it sounds like an internationally-recognized broker. These confusions create a cloud of unanswered questions. It is better to be safe than sorry. Always strive to choose regulated brokerage. It is the first simple decision you can do, but it can critically impact the success, safety, and security of your money.

Trades

2.4

User Experience

2.8/10

Payment Options

2.5/10

Security

2.3/10

Support

2.5/10

Reputation

2.0/10

Pros

  • Utilizes MetaTrader4 Trading Platform
  • Great 1:200 Leverage
  • Different Trading Instruments
  • Many Choices for Deposit and Withdrawals

Cons

  • Not Regulated
  • Need for High Minimum Deposit
  • No Free Demo
  • Offers Trading Bonus with Undisclosed Withdraw Conditions
  • High Spreads

Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:

Plus500
$100
Minimum Deposit

Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.

AvaTrade
$100
Minimum Deposit

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
$200
Minimum Deposit

eToro is a multi-asset platform which offers CFD and non CFD products. 66% 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.

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