Tradiva – Is this Broker Safe?

| Publish date: 04/06/2020 (Last updated: April 06, 2020 02:16 AM)
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Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.

Tradiva - DO NOT TRADE WITH THIS PROVIDER
2.7/10
$100
Minimum Deposit
X

updated 2020

Tradiva offers its customers 4 different types of accounts on which to trade. They are:

  • Mini Account: To trade on the Mini account you first need to make a minimum deposit of $500.
  • Standard Account: To open a Standard account, you first need to make a deposit of at least $5,000.
  • Gold Account: To open a Gold account, you need to first deposit at least $10,000.
  • Platinum Account: To trade on a Platinum account, the minimum deposit you need to make first is $25,000.

The leverage ratio offered for all of these account types is 1:200, but there is no information given about the spreads.

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://tradiva.com/

Founded: 2018

Regulations: No

Languages: English, Russian, Czech

Deposit Methods: Bank Transfer, Credit Card, Debit Card, Neteller, Skrill

Minimum Deposit: $500

Free Demo Account: Offered

Number of Assets: 170

Types of Assets: 70 Forex Pairs, CFD Trading

Trading Accounts and Conditions

Tradiva offers its customers 4 different types of accounts on which to trade. They are:

  • Mini Account: To trade on the Mini account you first need to make a minimum deposit of $500.
  • Standard Account: To open a Standard account, you first need to make a deposit of at least $5,000.
  • Gold Account: To open a Gold account, you need to first deposit at least $10,000.
  • Platinum Account: To trade on a Platinum account, the minimum deposit you need to make first is $25,000.

The leverage ratio offered for all of these account types is 1:200, but there is no information given about the spreads.

Tradiva – Advantages

Here are the advantages of trading with Tradiva:

  • MetaTrader 4 Support Offered

Tradiva offers its customers support for trading on the MetaTrader 4 (MT4) platform. This is something that we consider a big advantage, since the MT4 interface is the world’s most popular trading software.

80% of traders use this software to execute trades because this platform offers you a range of features not found anywhere else. You get to use more than 50 charting options, nearly 100 market indicators, as well as tons of trading bots (called Expert Advisors). All of these tools can be customized to suit your trading style and needs.

  • Apparently Competitive Spreads

While there is no mention of the kinds of spreads that this broker offers, when we logged into Tradiva’s demo account, we found out that the basic spread offered for the EURUSD pair was at 0.8 pips – floating.

The problem is that we do not know if this spread is offered for Tradiva’s basic account or its premium account.

Tradiva – Disadvantages

The advantages of trading with Tradiva are not good enough, especially when you find out the various and extremely serious disadvantages to trading with this broker:

  • Complicated Corporate Information

On Tradiva’s homepage, the broker has mentioned that it is owned and operated by a Belize-based company called Tradiva (Belize) Ltd.

However, when we were going through the broker’s Terms and Conditions page, we found that another company’s name – Market Solutions Ltd. – was given. There is absolutely no information about this company; we do not know where it is headquartered, or even where it is registered.

To further confuse matters, the contact details mentioned on this broker’s website page are addresses in the UK and in Russia. However, the payment service provider is Up Services Ltd., which is based in Bulgaria. But the credit card payments processing is done by two completely different companies – Apachewell Ltd and OrangePay.

What this means is that we don’t really know exactly who this company is – which, in effect, is the same as this company being anonymous.

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.

 

  • Lack of Regulation

Despite so much of name dropping, Tradiva has not mentioned its regulation status anywhere on its website. So, we decided to do a little digging. Since the broker mentioned locations such as the UK, Russian, Belize and even Bulgaria, we decided to check the online registries of all the financial regulators in these countries.

We found nothing. Not a single registration or license by any of the countries that Tradiva claimed it has a presence.

This leads us to conclude that this broker is not regulated and is therefore a danger to all traders. Remember, unregulated brokers operate outside the limits of the law, which means that you will not have any protection against them in case they scam you.

  • Worrisome Withdrawal Conditions and Fees

Tradiva’s corporate identity and lack of regulation are not the only things that are off about this broker. In its Terms and Conditions, it has put down some rather unpleasant and unfair withdrawal conditions.

First, the broker states that it reserves the right to put a limit on the amount a trader is allowed to withdraw at any time.

Second, Tradiva also states that they may refuse to process your withdrawal request, or even place your payment on hold for any reason – whenever they want.

These are not conditions that a legitimate broker would place on its clients. It basically is telling you that this broker, once it takes your money, will find any reason to not give it back to you.

But wait. There’s more. You will also be charged an added 5% on your withdrawal amount if you have not met the trading turnover target. And you will be charged another 5% of the balance in your account if you do not carry out trades for 90 days or more.

Most brokers do charge inactivity fees, but that’s usually after at least 12 months, not 90 days.

  • Trading Bonuses Offered

Tradiva also offers trading bonuses, which is another red flag that concerns us. Brokers that offer trading bonuses also put some really unfair conditions in place. For example, you need to meet a minimum trading volume target to be able to withdraw funds. And if you don’t meet that target, then the broker reserves the right to cancel your withdrawal request, or charge you a hefty fee for that withdrawal.

Since trading bonuses are so unfair, most financial watchdogs have banned their use. So, Tradiva using trading bonuses tells you how unscrupulous this broker is.

  • High Deposit Requirement

Tradiva demands that you deposit a minimum of $500 to begin trading on its basic account. This is more than 2 times the industry average, which ranges from $100 to $250.

Conclusion 

Tradiva has all the hallmarks of a scammer and we would recommend to all traders that they stay away from this broker. They are not to be trusted.

Tradiva

2.7

User Experience

3.5/10

Payment Options

2.5/10

Security

2.6/10

Support

2.4/10

Reputation

2.4/10

Pros

  • Support for MetaTrader 4 Offered
  • Apparently Competitive Spreads

Cons

  • Complicated Corporate Information
  • Lack of Regulation
  • Worrisome Withdrawal Conditions and Fees
  • High Deposit Requirement

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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