If you somehow stumble across the portrader.com website, you can easily mistake it for one of legitimate forex brokers. Only after spending some time scrutinizing the minute details will you learn the ugly truth.
The fact is, portrader.com is another domain of a well known fraud that also operates port-trades.com and portrades-int.com. Stay vigilant! Our Portrades review will show you how to recognize fraudulent brokers.
| Regulated by: | Unregulated Forex Broker |
| Is This Company Safe? | No, never invest with unlicensed firms! |
| Known Websites: | portrader.com
port-trades.com portrades.com portrades-int.com |
| Have Warnings from: | N/A |
| Registered in: | Marshall Islands (alleged) |
| Operating since: | 2023 |
| Trading Platforms: | Web Trader, Desktop Trader |
| Maximum Leverage: | 1:400 |
| Minimum Deposit: | $250 |
| Deposit Bonus: | $30 |
| Trading Assets: | Forex, Cryptocurrencies, Stocks CFDs, Commodities CFDs, Indices |
| Free Demo Account: | No |
| How to Withdraw from This Company? | For help with Portrades withdrawal, contact our chargeback experts through the live chat. |
Old Scam Resurfacing
Portrades is a notorious scammer already blacklisted by several regulators (BCSC, ASC and SCA) for their fraudulent activities on previous domains. Their newest project is portrader.com, a website which is almost the exact replica of their past, now inactive sites.
The site is operated by Signix LTD from Marshals, but without the GLOFSA license. Payment agents listed are Tera Solutions and Luko Solutions, allegedly incorporated in Bulgaria. A big part in this sham plays Shinepays, proven to be involved as a payment facilitator in many cases of fraud.
This scheme is devious and experienced in swindling innocent traders, just like Canz Trades.
Nothing But Trickery
Portrades is the most recent scheme from this group. Their newest domain, portrader.com was put online in mid-2023.
These schemers aren’t picky, they target citizens of many nations:
- Turkey
- Canada
- Brazil
- India
- Tunisia
The main method of attracting new victims is through boiler room agents. They endlessly call people by phone, and seek new investors. To make their offer seem more alluring, they claim great benefits and unrealistic rewards.
The alleged profits will lull Portrades’ clients into a sense of trust, and encourage more spending. When the traders ask for a withdrawal, however, the company stonewalls them.
If you have deposited assets with Portrades, contact our experts via the live chat so we may start a chargeback process.
Trading Conditions Make You Lose
The more you’re willing to pay, the “better” the trading parameters get. That is, if you think absurdly high leverage of 1:400 is an advantage. What makes the offer all the more suspicious is alleged fixed spreads, which aren’t revealed anywhere, not even inside the platform.
Fees are charged for everything. Besides the withdrawal fee which we will later discuss, there’s a dormancy fee that jumps to $200 per month after 6 months of inactivity with $2,000 tax for reactivating the said account! Another tax regularly charged every month is $10 for account maintenance.
Variety of Bonuses
To make the Portrades accounts more attractive, the broker offers a palette of bonuses. These promotions are:
- $30 Welcome Bonus
- Loyalty Program for active clients to receive bonuses for trading volumes reached
- Referral and Affiliate Programs that bring bonuses for referring friends and getting new victims to sign up for the scam
Trading Features Are All A Sham
The portrader.com website is riddled with false advertisements, so don’t take anything you see for granted. One of the more obvious ones is the MT4 platform support, which is not actually available.
Follow the remainder of our Portrades review as we put all the Portrades allegations to scrutiny.
Supported Trading Platforms
In order to soften up their potential clients, Portrades advertises the renowned MT4 platform. The reality is different, and Portrades only features a Web Trader, and a separate downloadable version of it.
This software is easily manipulated by the fraudsters, which is why the Forex Trading Market con uses it extensively. Mobile trading app, something Portrades claims to provide, is missing as well.
Untradable Assets
Despite the fact that Portrades provides some of the most popular financial products, their offer is irrelevant considering the web trader is a defunct trading solution. The offer of instruments goes as follows:
- Forex (EUR/USD, AUD/NZD, USD/CHF)
- CFDs on Stocks (Airbus, Facebook, 3M, Disney)
- CFDs on Commodities (Wheat, Gold, Brent)
- Crypto (ADA, BCH, ETC)
- Indices (NASDAQ, NIKKEI, DOW)
Tiered Trading Accounts
Higher tier accounts at Portrades allegedly offer different benefits such as live support, Islamic trading, and higher leverage. The company doesn’t offer a demo account for risk-free speculation.
Higher account tiers cost exponentially more:
- Basic – $250
- Silver – $10,000
- Gold – $25,000
- Platinum – $50,000
- Diamond (Tailored) – $100,000
Portrades Education Materials
While the education materials on Portrades are advertised as “free”, most of them are not available on lower cost accounts. The majority of clients only have access to e-books of questionable quality.
The alleged video tutorials are nowhere to be found. They are crossed out on all account types but the Diamond, on which this option mysteriously vanishes.
Opposing Claims About Withdrawals
The Portrades website will have you believe their withdrawals are fee-free and nearly instant. In contrast to that, the document discussing general fees says that the 3.5% fee applies for Credit card and E-wallet withdrawals. Wire transfers are allegedly charged with $30.
Such inconsistency and lack of transparency leads you to believe these claims could all be lies – they do not come from a reliable broker dealer anyway.
Unresponsive Support
Getting in touch with Portrades support isn’t as easy as the broker promises. While there’s a phone number and an email address to use to communicate, a live chat feature is also available. However, the level of responsiveness and promptness is low, and you may not even get a proper response to your request.
Get Your Funds Back From Portrades!
Just because Portrades has a new domain set up doesn’t mean they’re now legit. As a matter of fact, they’re even more dangerous and you should consider other options if you’re looking for a reliable broker platform.
In case you’re trying to get your funds back from Portrades but you’re facing difficulties and extortion, we can help you. Our legal support can provide you with proper information on how to start a chargeback and get a hold of your stolen capital.
FAQ Section
What Is Portrades?
Portrades is the newest in the line of unlicensed forex brokerages created by Signix LTD.
Is Portrades Regulated?
Portrades is an unregulated broker that operates with no license. For help with chargeback from this dangerous firm, contact our recovery professionals.
How Portrades Work?
Portrades uses boiler room agents to attract potential clients. Once the money is deposited, however, they deny any withdrawals. Contact our team of experts for help with your chargeback.
