Battle Trade Review – Should You Trust Battletrade.io Broker?
Battle Trade Review – Should You Trust Battletrade.io Broker?

For us running in offshore broker circles, the name Tetris Group LTD rang some bells. Upon checking our archives, we discovered that the firm owns two brands besides Battle Trade – ClydeTrade and UpperTrade.

The first found its place on the regulatory warning lists of Luxembourg, Spain, and Italy, while Italian and Romanian regulators banned the second. Thus, you can already see the direction of this Battle Trade review.

Broker status: Offshore Broker
Regulated by: Unlicensed Scam Brokerage
Scammers Websites: battletrade.io
battletrade.co
Blacklisted as a Scam by: CONSOB, FSMA
Owned by: Tetris Group LTD
Headquarters Country: Commonwealth of Dominica
Foundation year: 2021
Supported Platforms: WebTrader
Minimum Deposit: $500
Cryptocurrencies: No
Types of Assets: Forex, commodities, indices, shares
Maximum Leverage: 1:100
Free Demo Account: No
Accepts US clients: Yes

What About Battle Trade Regulation?

Battle Trade belongs to the notorious Tetris Group LTD, based in the Commonwealth of Dominica. As explained, the owner itself doesn’t have a good reputation, which led us to suspect Battle Trade as well. Upon research, we discovered that the firm is not licensed by the FSU of Dominica or any Tier1 regulator such as FCA, ASIC, or BaFin.

To add to the foregoing, we seriously recommend you to avoid fraudulent brokers such as Capartners LTDFinvis, and K7 Trade.

Why Is It Important For A Broker To Be Licensed?

Suppose you want to invest your funds with any financial institution, be it a bank, pension fund, or investment firm. You want to be sure that the relevant institution will handle your funds accordingly and won’t be able to disappear, leaving you with nothing. That’s exactly what the regulation is should cover.

Regulators in the Tier1 zone ensure that Forex firms have compensation funds to cover any potential damages and reimburse victims.

Since we’ve already explained what kind of a broker the Battle Trade is, there’s no reason to discuss fund safety any further.

Is Battle Trade a Legitimate Broker Or A Fraud?

Battle Trade is a scam online trading brokerage. The firm is based offshore and doesn’t have a valid financial regulation. Italian regulator issued an official warning against the firm.

Battle Trade Is Blacklisted By Consob And Marked As Fraud

Battle Trade Warning By Consob

Italian regulator CONSOB stayed up to date and blacklisted Battle Trade as well, along with two other Tetris Group LTD brands.

This same warning was republished by the Belgian FSMA, warning citizens not to fall for the scam.

Traders Reviews About Battle Trade

As expected, traders’ reviews of the Battle Trade are far from impressive. The broker is not allowing anyone to get a payout. Even worse, clients are blackmailed using different malicious clauses in the Bonus Policy.

Even after fulfilling all the demands, the firm employees will freeze the investment account and not approve any requests.

What Platforms Does Battle Trade Offer? – Available Trade Software

While advertising MetaTrader, one of the best software this industry has, the firm offers nothing but a proprietary WebTrader. 

Battle Trade Offers MetaTrader Platform?

Often, offshore brokers use the name MetaTrader to lure people into investing and present their offer as better than it actually is. Most people prefer reliable software over WebTrader, so they’re trying to hide the real platform until the very end when the money is already deposited.

Don’t fall for this story, and don’t trust anything Battle Trade or its employees have told you.

AnyDesk And TeamViewer – Access To Your Bank Account

Besides the misinformation regarding a trading platform, the broker has links to download AnyDesk and TeamViewer. For those who have never dealt with offshore brokers, this is remote software used for a person to access your desktop or a mobile device and take control over it.

Usually, fake account managers convince you that it’s the easiest way to show you the platform when in reality, it gives them direct access to your online banking.

Please remember the names of the scammers IstradeGordonzak, and FXLiveCapital and stay away from them! Also, before investing, always examine the history of internet trading organizations!

All About Battle Trade Accounts

There are three Battle Trade account types to choose from.

  • Mini – $500
  • Standart – $3,000
  • VIP – $10,000

Accounts differ in spread, leverage, and access to different assets and trading tools.

Battle Trade Broker – Countries Of Service

Based on our research, the trading company scam is mainly active in:

  • US
  • UK
  • Canada
  • Germany
  • Sweden

Battle Trade Range of Trading Instruments & Markets

If, after everything, you still believe that you can profit from trading with the firm, we would advise you to give up on that thought. However, here’s an overview of trading assets:

  • Currency pairs – EUR/USD, GBP/USD
  • Commodities – gold, oil, silver
  • Indices – NASDAQ, FTSE100, DAX30
  • Shares – Apple, Amazon, Google

Battle Trade Asks For Too High Minimum Deposit

While the average in the trading industry is $250, the firm asks its clients for double more. You will be prompted to invest $500 at the very start without being able to test the system first. There’s no reason to do it.

Legitimate firms offer Micro accounts starting with as low as $10. That’s the best and easiest way to test the platform without risking too much.

Trade Bonuses – Methods Of Fraud

The company offers bonuses and has a clause in the Deposit and Withdrawal Policy requiring clients to have a minimum trading volume before being eligible for withdrawal. However, this minimum has not been specified, meaning it’s left for your account manager to give you any number that’s impossible to reach and dissuade you from getting your money back.

Note that regulators strictly prohibit bonuses and other incentives, and scam firms like Battle Trade abuse them to ensure you don’t get your money back.

Battle Trade Trading Conditions

Let’s just say that we were not astonished by the broker trading conditions and still haven’t found a reason for you to risk your money with this firm.

Leverage And Spreads

The leverage is unregulated and goes up to 1:100, while EU and UK regulators allow only up to 1:30 for the Forex market and even lower for other assets. The spread has a starting point of 3 pips for the EUR/USD pair, double the industry standard. Pricey, unregulated, and unfavorable.

Battle Trade Deposit, Withdrawal Methods, And Fees

The company accepts credit cards and cryptocurrencies. However, even credit card payments are not as safe with this investment firm since the money is processed through a third-party payment provider.

Using A Third-Party Provider To Make A Deposit

Using a third-party payment provider reduces your funds’ safety since your details are exposed to them. It would be fine if this payment provider were reputable. However, there is a website under the domain abncbp.com that we have never heard of. Thus, safety is relatively low.

Scammed by Battle Trade Broker? – Let Us Hear Your Story

If you were scammed by Battle Trade or a similar bogus broker, let us know. Our chargeback specialists will be more than happy to assist you and help you get a refund.

But What Is A Chargeback?

This is a way for your bank to recover the money from the merchant if you have used your credit card. Book a free consultation with our experts, provide us with all the details of your case during a free consultation, and we will ensure to assist you as best as possible.

What Is The Battle Trade?

The broker is an unregulated offshore Forex and CFD trading provider.

Is The Battle Trade a Scam Broker?

Battle Trade is an unregulated scheme blacklisted in Italy and Belgium.

Is Battle Trade Available In The United States Or The UK?

The firm is available in both countries without a license.

Does Battle Trade Offer A Demo Account?

No, Battle Trade doesn’t offer a Demo account, only Live ones.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!
However, if you're here because you suspect that your investment isn't in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

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