TradeCare365 Review – Poor Scam Attempt Without A Platform

Except for the recently published alerts that seem to be coming as we speak, there’s nothing much exciting to tell about this scam. TradeCare365 is your typical offshore sham with enough nerve and arrogance to act like they’re a number one trading platform. 

How did this textbook swindler dare to say so without even a basic, functional platform is beyond us. It’s clear all they’re trying to do is lead unsuspecting victims into the investment trap they’ve laid out. It all looks nice and by the book, while in reality the scheme functions on the principles of every other fraud known to us. The most similar one of them being RoiFX. 

So if you find this broker somewhat reliable for investing, allow us to prove their claims wrong by presenting you with solid proof in this TradeCare365 review.

Is TradeCare365 Regulated By A Financial Authority?

Our answer to the question about TradeCare365’s regulation couldn’t be more straightforward than this. The company has not been verified as a genuine and reliable financial services provider by any financial entity. 

The research we conducted started from the leading Seychelles regulator – FSA. Although an offshore regulator, the Financial Services Authority has their humble database of regulated securities dealers. TradeCare365, with their owning company – Orionda Financials Ltd, doesn’t appear there.

Even if FSA had regulated TradeCare365, it would still not be a Tier 1 license that guarantees absolute safety and security of funds. While searching through the databases of the leading and strictest regulators, we only found the warnings. These started being published recently, and are all pointed against TradeCare365. We will list them all in the following section of this review, so keep reading. We’ll get to that promptly. 

Before that, we’d like to remind you why Tier 1 regulation is the only license acceptable. Firstly, brokers supervised by the harshest regulators provide segregated bank accounts, leverage restriction to 1:30 or 1:50, negative balance protection and compensation funds. 

Exact standards can vary depending on the regulator, but these are the general conditions. None of these benefits are available at TradeCare365. You can make sure of it just by comparing the leverage of 1:1000 with the general criteria. Also, the broker’s anonymity should be a red flag big enough to keep you away for certain. 

Warnings Issued Against TradeCare365

While on a quest to find out if TradeCare365 has a valid Tier 1 license, we had to go through more than a few registers. None of the information we dug out on TradeCare365 was complimenting the broker. 

If anything, the warnings were clear about this firm not being licensed or authorized to perform the bank transfers and services they advertise. We warmly advise you to read these articles thoroughly, so you can get a clear picture of this company’s foul work: 

• CNMV

• CONSOB

• CMVM

• FSC

TradeCare365 Reviews and Comments

Except for the warnings, customer satisfaction is always a good evidence of the broker’s quality of service. Although TradeCare365 has only been active since recently, their only achievement is getting on the blacklists and receiving negative ratings from the users. Here, we bring you the most explanatory parts of the reviews filled with desperation and anger:

Complete Scam. My friend lost €3,210.00. The comments here are true.[…]

Scam – KEEP AWAY! Suddenly get a phonecall from the great Britain. there female seller is extremly aggressive to try and sell me some trade oppotunity. She tells me I have asked to be called up by them. That is NOT true!! where they got my number I dont know. They dont even want to delete my number etc.[…]

Where Does the Broker Operate? – Countries of Service

The broker in question started being active in December, 2022, that stands. But it has only taken them several months to get on all the blacklists. On top of that, the victims keep appearing. It seems like TradeCare365 doesn’t waste their time when it comes to unscrupulous actions. Sadly, it is how the fraudster earns their living, after all. If you’re a resident of any of these countries, we advise caution, as the swindler clearly operates there:

• Italy
• United Kingdom
• Austria

How Does the Scam work?

User testimonies imply one thing is certain with TradeCare365 – persistence of their selling agents has caused an outrage in traders. This is one of the major signs of fraud to watch out for. 

The boiler room agents will call tirelessly and time and time again, even if you reject their offer repeatedly. They’re so desperate to sell you their services that no amount of refusal will warn them off. Just like vultures, their never-ending resolve to get you to invest doesn’t go away until they drain your bank accounts and credit cards. 

If you give them a chance to try and sell you their product, they will talk about it as if it was a gift from the heavens itself. All attempts are directed at convincing you that you’re the lucky one to even get the chance to invest in their precious platform.

A web of lies unfolds when your withdrawal requests start getting rejected and you cannot manage to pick up even the initial deposit you’ve made.

What Is TradeCare365’s Range of Instruments?

TradeCare365 offers investing in the following groups of instruments under some dangerous conditions like leverage of up to 1:1000 and suspiciously tight spreads. The tradable asset groups mentioned are the following:

• Forex (EUR/USD, USD/AUD, NZD/CAD, EUR/CHF, GBP/PLN)
• CFDs on Stocks (Amazon, Tesla, Meta, Zoom, Microsoft)
• CFDs on Commodities (Wheat, Coffee, Cocoa, Soybean, Cotton)
• Crypto (Bitcoin, Ripple, Litecoin, Zcash)
• Futures (Precious metal futures for gold and silver, U.S. Treasury futures for bonds)

TradeCare365 Trading Platforms – Available Software

Brutally honest review has to include raw truth. Let us tell you about how TradeCare365 fakes having a trading platform. You see, TradingView is a popular social platform for traders to keep track of the market movements and connect with other investors. It enables widgets that you can add to your website. 

So, in order for TradeCare365 to deceive customers into believing they allow trading, they only present several TradingView charts. Actually clicking on them through the client panel takes you to the official TradingView site. This immediately leads us to a conclusion that TradeCare365 doesn’t even have a trading platform, which is most probably true.

The home page advertises the mega-popular webtrader commonly used among scammers for its subjectiveness to manipulation. This petty swindler doesn’t even have that much!

Choice Of Trading Accounts

As everything else that TradeCare365 advertises, we didn’t believe their account types indeed offer what they claim to. Some of the features mentioned are indeed attractive, like company events, seminars, webinars spot guaranteed, and huge bonuses of up to 100%. But bonuses are only traps that usually lead you straight to your financial demise. 

Otherwise, the packages do not differ much from the commercial offer. Reputable brokers that are by all means industry leaders allow an array of other features for a far smaller investment. Keep that in mind when you see how much TradeCare365 charges for each of the accounts:

• Standard account – $250
• Professional – $10 000
• Business – $30 000
• Business Plus – $100 000 

Withdrawing Profits From Your Broker Account

As per usual when it comes to withdrawals, fake brokers that profit by defrauding customers do not reveal any info pertaining to payouts. The story is completely the same with TradeCare365. Homepage only mentions several deposit methods and says that investments are not charged. However, there’s absolutely nothing on withdrawals. 

Terms of Service are one of the shortest we’ve ever seen and is of no practical use. You cannot get information on how payouts are processed. The only way is to probably contact the support. If they even want to answer when they hear you want your money back. 

Like NYX Trade does, TradeCare365 could require filling one form after another, along with sending your personal docs and paying several hundred or thousand dollar fees. These are the most conventional methods that scammers use in order to prevent you from cashing out your profits. 

Most likely, you will not be able to get a single cent back of what you’ve invested. The profit you believe you’ve accumulated is fake anyway, as the trading environment is nothing but a fully controlled charade.   

What Should I Do If I Have Been Scammed by TradeCare365?

We expect you to have a natural reaction and first panic when you find out about being scammed. But, as difficult as it feels, you have to collect yourself and act as quickly as possible. Contacting us for free advice should be the first step you take. Especially if you’re a novice trading and do not know what has hit you. 

Our teams of agents available around the clock have plenty of experience in dealing with scammers. All we ask of you in return is to provide us with as much info as possible on this or any other fraud familiar to you. It will be of immense value for our further battle against scam and for informing other traders such as yourself.