Is Trade99 a Legit Broker?

Dominican broker Trade99 offers investments in both CFDs and forex. However, our Trade99 review has found their communications to be vague and unreliable. Many of the claims they make on their website are simply untrue. Traders can expect to receive less than they were promised in terms of asset selection, platform choices, and regulation.

Trade99 Review: Regulation and Security

The details of our Trade99 review have determined that this broker does not have adequate regulation to ensure the security of their traders. The first indicator of the Trade99 scam is that they give an address for an office in Hong Kong but aren’t actually located there. Their parent company, Nohelious International Marketing Operations, is based in the Dominican Republic.

The broker does have registration with The Financial Commission, but it’s clear that this body doesn’t have the same powers as a regulator like the FCA. They have given this broker a spot in their A Category, although they have at no point explained what this implies for traders. This regulator does not give clients a reason to believe that this broker is safe.

Trade99 Review: What Can You Trade With This Broker?

For our Trade99 review, we explored their account offerings. The broker has four account types, and the standard account takes a $250 deposit to open. The broker has a weak selection of financial instruments, with a shockingly low amount of both currency pairs and CFDs. While the broker advertises a wide selection on their website, almost none of these are found on the platform itself.

What’s more shocking is that this broker promises traders MetaTrader 5 before they sign up. However, traders instead are given access to the Trade99 platform. This is a pared-down browser platform with almost no useful features. The bait and switch of the Trade99 app is just another reason that traders should stay away.

Which Countries Does Trade99 Accept Traders From?

As an offshore broker, Trade99 offers its services to essentially anyone with a computer, regardless of local regulations on online brokers. They do give a list of countries in which they do not offer services, likely due to increased legal liability on their part. The list includes Canada, the United States, North Korea, and another dozen assorted countries. One country they definitely cannot offer services in is New Zealand, where the FMA has put out a warning against the broker.

Deposit and Withdrawal Methods

The broker lists many different available Trade99 withdrawal methods. However, our Trade99 review discovered that only credit cards, bank transfers, and Bitcoin were actually accepted. The broker’s use of the Neteller and Skrill logos on their website has no relation to their actual accepted methods.

The Final Word on Trade99

Our Trade99 review has revealed that this offshore broker can’t be trusted. The discrepancies between what they advertise on their website and what they actually offer are too much to overlook. Traders cannot trust what this broker tells them. If you want to close the Trade99 account but can’t get your funds back, contact our team today to see if a chargeback can work for your case.