Trade-Union.pro Review – Warning, Active Forex Trading Fraud
Trade Union or Trade-Union.pro is a brand of the already notorious Incendiary Group Ltd. As such, this broker is probably unlicensed, like the other brand we’ve had a chance to review, InFlux Finance. Read our Trade Union review and find out all about this particular investment firm.
|Regulated by:||Unlicensed brokerage|
|Blacklisted as a Scam by:||N/A|
|Owned by:||Incendiary Group LTD|
|Headquarters Country:||Commonwealth of Dominica|
|Types of Assets:||FX, commodities, indices, stocks|
|Free Demo Account:||Yes|
|Accepts US clients:||No|
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.
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.
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.
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.
- Newbie – $250
- Standard – $2,500
- Golden – $7,000
- VIP – $15,000
Accounts differ mainly in the provided tools, such as advanced charts, lower spread, higher maximum trading volume, etc.
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
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
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.
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!
What Is Trade-Union.pro?
Trade-Union.pro is an online Forex and CFD provider based offshore with no trading license.
Is Trade-Union.pro A Scam Broker?
Trade-Union.pro is based offshore, has no license, and its owner has been blacklisted as a scam firm.
Is Trade-Union.pro Available in the United States or the UK?
The broker provides its services in the UK, but not in the US.
Does Trade-Union.pro Offer a Demo Account?
Yes, Trade-Union.pro offers a Demo account along with Live accounts.