Trade Union Pro Review – Scammer on the Run

Our original Trade Union Pro Review served to show the truth about the unscrupulous offshore trading platform and the underlying scam. It was written in May 2022. As we’re writing this, the fraudulent broker’s shady website is inactive.

Unfortunately, in the meantime, the scammer managed to defraud numerous unwary users and hightailed it. We have decided to update our original analysis due to the growing number of complaints on popular forums and offer victims help in the fund recovery process.

What About Trade-Union.pro Regulation?

Trade Union is owned by Incendiary Group Ltd, a company registered in the Commonwealth of Dominica. Since FSU is known as quite a loose regulator, and many firms never opt for a license, we wanted to check if the Trade Union broker even tried to regulate the business.

In addition to the above, we strongly advise you not to invest in Soltechx, UnicoFX and Btec Global fraudulent brokers.

Why Must a Broker Have a License?

A broker must have a license in order to provide safe trading under regulated conditions. As banks and other financial institutions need supervisors since they’re dealing with a lot of money, the same thing stands for Forex and binary options firms. As mentioned, the Trade Union never obtained a license with the FSU or any Tier1 regulator, including FCA, ASIC, or BaFin.

Therefore, investing your money with such a firm is risky, and we do not recommend it.

Regulatory Warnings Against Trade Union Pro

Since our last review, the Trade Union Pro website has appeared on two regulatory warning lists. Both were issued in November 2022. First, the dubious Incendiary Group LLC was blacklisted by the Spanish Comisión Nacional del Mercado de Valores (CNMV) and then the warning was reposted by the Belgian Financial Services and Markets Authority (FSMA).

To reiterate, Germany’s BaFin regulator also alerted domestic traders and investors about this very offshore company. Given that all three countries are EU members, their respective market watchdogs implement common European Securities and Markets Authority (ESMA) regulations. One rule stipulates that no provider can operate in the European Economic Area without a MiFID license, which our phony broker lacks.

Traders Reviews About Trade-Union.pro Scam

Since the broker is not regulated and belongs to the same company that has been on the BaFin blacklist for their other brand, no wonder reviews are negative. Clients mainly complain about withdrawal issues, but they’re also frustrated by the lack of information and transparency. The broker seems to fabricate reasons to delay withdrawals until they finally freeze clients’ trading accounts.

Also remember the names of the Gravity Trade,  Fivoro and Avalon WM trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

Supported Trading Platforms – Available Trading Software

Trade Union offers only one platform – WebTrader. This is a cheaper version, so many scam brokers decide to present a web platform instead of reputable software such as MT4 or MT5. WebTrader has fewer charts and indicators, while there are no EAs or social trading. Furthermore, this firm offers unregulated leverage of up to 1:200, meaning that your funds are at risk from the very start.

Moreover, there’s no mobile app, all the login will have to be done through a web browser.

Everything About Trade-Union.pro Trading Accounts

Trade Union has 4 account types for their clients.

1. Newbie – $250
2. Standard – $2,500
3. Golden – $7,000
4. VIP – $15,000

Accounts differ mainly in the provided tools, such as advanced charts, lower spread, higher maximum trading volume, etc. 

Demo Account

Trade Union offers a Demo account for those who want to test their system. Yet, investing virtual money is always risk-free, while involving real funds and unregulated brokers can be pretty dangerous.

Trade-Union.pro Range of Trading Instruments & Markets

Trade Union offers trading with:

• Currency pairs
• Commodities
• Indices
• Shares

However, cryptocurrencies are not an option, which is quite surprising considering that the firm accepts crypto as a payment method.

Available Trade-Union.pro Leverage

Trade Union provides unregulated leverage of up to 1:200 for Newbie, Standard, and Golden accounts, while VIP has slightly lower leverage of up to 1:100. Knowing that regulators in the EU and UK have strict limits and set it to 1:30 or 1:50 for the Forex market, you can already see why investing with Trade-Union.pro is not recommended.

Trade-Union.pro Deposit, Withdrawal Methods, and Bonuses

Once you sign up with the firm, you’ll be prompted to create an account before depositing. We find it inconvenient since it’s enough to register once; there is no need to sign up again for the account to be made. Once you register and sign up, the broker seems to accept the following payment methods:

• Wire transfer
• Credit/debit cards
• Cryptocurrencies

The minimum deposit is $250, while the minimum withdrawal amount is not specified. However, the firm has a whole list of demands you need to fulfill before getting a withdrawal. One of the ridiculous requests is a demand to repay the bonus plus the initial deposit 25 times before even being able to submit a payout request.

Trade Union Pro Website Is Inactive – How to Get My Money Back?

Many unfortunate traders and investors have fallen victim to the Trade Union Pro scam. Forums such as Trustpilot and reviews.io are full of complaints. These negative reviews point out that it is impossible to withdraw funds from the duplicitous platform.

As we previously mentioned, the fraudster accepted payments via credit/debit cards, wire transfers, and cryptocurrencies. Therefore, you should explore the chargeback/recall option or CipherTrace for cryptos. Retrieving funds from illicit brokers can be challenging, which is why we recommend seeking out professional assistance from chargeback companies.

If you are among the users who are experiencing Trade Union Pro withdrawal issues, be sure to book a consultation with Scam Brokers Reviews. Our team is full of skilled individuals who can surely help you recover your funds.

Scammed by Trade-Union.pro Broker? – Let Us Hear Your Story

If you find yourself a victim of a Trade Union scam, let us know. Likewise, our chargeback specialists will assist you with this matter and suggest the best recovery method upon evaluation of your case.

But What Is A Chargeback?

Your bank has several ways to retrieve stolen funds, one of them being a chargeback. Since the process is time-limited, we urge you to contact us right away. Don’t waste more time; let’s get back to what’s yours!