TradersHome Review – Home To Every Scam Method Ever Used
Secure and friendly trading platform provided by TradersHome offers no safety and quality trading. This SVG-based firm is so devious and cruel in their scam operations they earned a place on blacklists of multiple regulators.
By now, our readers are probably well familiar with the principles of SVG unscrupulous firms. Stay tuned to read more on the newest scam methods presented in the following TradersHome review.
|Is This Company Safe?||SVG firms are unregulated and unsafe!|
|Have Warnings from:||CONSOB, CNMV, Financial Commission, FINANSTILSYNET, NSSMC, AMF, DFSA|
|Registered in:||Saint Vincent and the Grenadines|
|Trading Platforms:||Web platform|
|Deposit Bonus:||Not available|
|Trading Assets:||Global Currencies, Spot Commodities, Spot Indices, Spot Energies, Cryptocurrencies, Shares|
|Free Demo Account:||Not available|
|How to Withdraw from This Company?||Only with legal help can you expect to force a withdrawal!|
Small businesses existing in SVG and engaging in brokerage activities aren’t overseen by the domestic regulator. This has allowed TradersHome to profit by defrauding customers, which has come to the attention of several reputable regulators. The following financial watchdogs have blacklisted TradersHome as scam:
Nothing is a better confirmation of a broker being a scammer than when they get a public warning against them. TradersHome is unsafe for trading, doesn’t store funds in segregated bank accounts and freely access the clients’ deposits.
Apart from financial security, they lack negative balance protection, leverage restriction to 1:30 and compensation funds. Fantex operates in similar ways. Avoid both at all costs!
Number of Victims Increases
It seems that offering unrealistic trading conditions, state-of-the-art software and lowest costs in the industry is producing good results for TradersHome. More victims are buying into their lies and the number of defrauded investors is another reason why authorities have put a stigma on this broker.
None of the promises of getting rich will come to life. Entire profit made is fake and the withdrawals are impossible. Scam agents may convince you otherwise, but believe us when we say the financial authorities have the means to detect swindlers. And TradersHome is one of them. The countries where they mostly operate are the following:
- United Kingdom
Refuse any suspicious offer sounding too good to be true. And if you want to take back your investment, feel free to contact us. We can work on filing a chargeback and getting your capital back promptly.
Fake Reviews Can Mislead You
TradersHome has a claimed profile on TrustPilot and they seem to be getting nothing but positive feedback. Let us tell you immediately that these come from the reviews selling networks and none of them sound credible. It is far better to trust what regulators say.
We’ve found one review that is actually honest:
“I had an account and the first weeks it all went fine. […] Last week, all trades were closed and my account is even negative. DO NOT trust them as you are not important because only money counts for them. They have all kind of tricks and traps to get you in and create their situation to explain why it is your fault it goes wrong. They also ask more and more money. DO NOT risk your money. Tradershome is not regulated and they do whatever they want with you and your account.”
One way to recognize fraud is the lack of transparency. Especially when it comes to trading costs, fees and potential commissions that the broker charges. TradersHome offers ridiculously high leverage of 1:400, which is against all regulatory rules of Tier 1 licensing entities. Moreover, the transparency fails when they should share the spreads and other costs, like withdrawal fees. Legal docs are also very unenlightening about any of these elements.
Unreachable Web Trader
The website boasts about featuring the latest technological discovery in the field of online trading. Alas, this revolutionary web trader is not available for any kind of preview unless you open an account first. Since that didn’t work, we got no chance to try it out.
Despite the obstacles, we can already assume why TradersHome is being so mysterious about their terminal. The web trader is the simplest form of a trading platform and is borderline useless. Scammers easily manipulate it to their benefit so that explains why it is found so commonly among unregulated firms.
Tradable Asset Groups
The TradersHome offer of financial instruments doesn’t stand out among others in any way. On the contrary, it’s quite limited and includes only the basic and most popular products like:
- Global Currencies (EUR/USD, EUR/CHF, USD/AUD, USD/JPY)
- Spot Commodities (Spot Gold, Spot Silver, and Crude Oil)
- Spot Indices (S&P 500, Dow Jones, Nikkei)
- Spot Energies (WTI Crude Oil , Natural Gas, and Brent)
- Cryptocurrencies (BTC, BCH and ETH)
- Shares (Tesla, AstraZeneca, Ferrari, Porsche)
Pricey Account Types
The six account types that the broker offers are promising low floating spreads, no slippage and best ordering execution. We highly doubt that is actually the case, especially considering that TradersHome has multiple warnings on them for operating without a license.
To refer to the anonymity problem yet again, the packages aren’t precise about the features they include. Everything seem to be wrapped in secrets except the jokingly high prices:
- Student – $250
- Starter – $2,500
- Premium – $10,000
- Advanced – $25,000
- Pro – $50,000
- VIP – $100,000
How helpful would it be if TradersHome allowed newbie investors to trade risk-free during a certain period. It is absolutely crucial to first get familiar with the trading environment before you invest. However, because TradersHome has things to hide, they do not allow trial-trading.
TradersHome Withdrawals as a Greatest Problem
Due to not being allowed into the client area, we cannot say what funding methods are available and how withdrawals work. Let us just warn you that unscrupulous websites make it extremely hard to take back your initial investment. Their tricks and excuses include additional documents being necessary, like photos of your ID, credit cards and passports. This is a great addition for their identity theft side projects.
Also, to instantaneously make it even less possible to get a hold of your frozen investment, scams like GfxRoyal and TradersHome can cut off any communication channels. Let us elaborate on that.
Customer Support Doesn’t Reply!
When we struggled with opening an account we used the online form to reach out to support service. Even after enough waiting, we got no reply whatsoever. The error with the TradersHome login said to use online chat to ask the support for help, but that feature doesn’t exist on the site!
TradersHome provides email addresses, a phone number and online submission form to get in touch with the customer support. We doubt any of them work. It wouldn’t be a first.
TradersHome – Final Thoughts
Once again we’d like to remind you to stay aware of the number of blacklists where TradersHome appears. That is your proof of this firm being nothing but a dastardly scheme profiting off the misery of others.
If such fate becomes your burden, please contact us immediately. As soon as you find out you’ve been scammed, reacting quickly is of vital importance. You can avoid the headaches and the endless wait by referring to our legal experts for help. We can offer you guidance, and the first consultation isn’t even being charged!
Is TradersHome Regulated?
No, they’re not and multiple Tier 1 regulators confirm that - CONSOB and CNMV being just some of them.
Which platforms are supported by TradersHome?
What TradersHome advertises is a web trader. However, without an account, we could gain insight into the offer.
For which type of trader is TradersHome best suited?
No one! This website is a complete scam and an anonymous cyber thief, so stay away and contact us momentarily if you’re having issues with withdrawing funds!