GrandTrade is a fraudulent broker that got an EU domain and pretended to be a CySEC regulated company. However, we’ve exposed them and decided to give you insight into what kind of fraud you’ll be dealing with.
Read our GrandTrade review and find it all out.
|Regulated by:||Unlicensed brokerage|
|Owned by:||Grand Trade PVT (Ltd)|
|Headquarters Country:||Cyprus (allegedly)|
|Supported Platforms:||Web trader|
|Types of Assets:||FX, commodities, indices, shares|
|Free Demo Account:||No|
|Accepts US clients:||No|
GrandTrade Regulations and Security
GrandTrade listed Grand Trade PVT (Ltd) as the owner. Allegedly, they belong under Cyprus regulatory jurisdiction, meaning CySEC. However, once we checked the register of this regulatory body, we found no evidence of GrandTrade or its owner. Basically, this is just another attempt by a shady broker to defraud clients. Stay away from GrandTrade and do not invest any money with it unless you want to lose it.
Fund Withdrawal Issues
Since the broker’s website is currently out of service, many clients are reporting withdrawal issues. They cannot log in to their account or submit a withdrawal request. Also, this broker never approved any of the withdrawal requests, according to the GrandTrade reviews we’ve seen. Therefore, if you prefer to keep your money safe, avoid this particular brokerage. All of the funds are held on the web trader, the least secure platform of all. If you’re looking for a proper brokerage, find the one offering MT4 or MT5 since your funds will be safer.
As mentioned, traders do not have such a great opinion about GrandTrade broker. Besides withdrawal issues, they say the platform itself has not had many options such as charts and indicators. It’s a basic TradingView chart. Overall, the service provided was not as good since the support team and the account manager are there only when the money needs to be taken. Suppose you should receive a payout. Everything will be blocked, including your account.
How Does Online Trading Scam Work?
The process itself is straightforward. You’re registering for an ad that says you will make easy money. With GrandTrade, you need $200, and you are promised millions. After registering and investing an initial deposit, you will be called by an alleged account manager. They will convince you to invest more money since there’s a fantastic opportunity to make thousands and thousands. When you tell them you do not want or do not have more to invest, you’re turning from an asset to a burden, and you will never see your account or your funds again.
Never invest with any trading company before checking everything out.
Scammed by GrandTrade?
If you were scammed by GrandTrade, report it immediately. You need to file a dispute and request a chargeback.
But what is a chargeback?
A chargeback is a tool you can use when you’re scammed online. Your bank can reverse the transaction if you provide sufficient evidence. For that, the best would be to consult experts. Contact us via online chat and let us know about the issue. Let’s get your money back before it’s too late.
What is GrandTrade?
GrandTrade is an unregulated online trading brokerage without a financial license.
Is GrandTrade a scam?
Broker does not have any kind of financial regulations and operates illegally.
Is GrandTrade regulated?
GrandTrade is not regulated and has no permission to provide financial services.