Traderup Review – Publicity Becomes The Scammers’ Downfall
This self-proclaimed award winning brokerage has found itself in hot water with authorities in multiple jurisdictions. The fraudsters have bitten more than they can chew, with numerous sources busting their scheme wide open.
Not all of these deceptive sites are so easily recognized. The danger always exists, so stick with our Traderup review to learn how to keep your money safe when investing on the internet.
|Unregulated Offshore Broker
|Is This Company Safe?
|No, this broker operates under no legal supervision and is therefore not safe!
|Have Warnings from:
|Forex, Cryptocurrencies, Indices, Commodities, Spot Metals, Energies
|Free Demo Account:
|How to Withdraw from This Company?
|You ought to find a better forex dealer if you wish to trade safely!
Incorrect Legal Data
Inaccurate company information presented is a part of the attempt to seem legitimate and trustworthy. This firm we’re reviewing is an anonymous entity that is not legally incorporated anywhere in the world.
You see, the UK address they list on the website doesn’t belong to a single firm registered with the UK Companies House. Furthermore, the leading state regulator, FCA, has not licensed any entity with the name of Traderup Management Ltd.
Lastly, legal papers reveal that the firm falls under the legal jurisdiction of SVG, which is known to be home to countless illicit brokerage firms since the local regulator doesn’t supervise the Forex providers. TruBlueFX is yet another such portal that you should avoid.
Notorious Boiler Room
This particular fraud is a somewhat recent development, being launched only in June 2023. It’s the insatiable appetites of the company’s boiler room agents that ultimately lead to the fraud being discovered by the authorities.
If you’re unfamiliar with the term, these boiler room agents are the ones looking for victims. They mostly work by phone and introduce themselves as some kind of financial expert, who just happens to be looking for investors.
The agents target these following nations:
- United Kingdom
It starts slow, with small investments at first, but the spending can quickly spiral out of control. None of the money can be withdrawn from the company, unfortunately, and recovery requires the work of a professional. Many similar schemes exist, with PhoenixTB being another example.
Deception Becoming Obvious
To make their unbelievable deals and incredible offers seem legit, these con artists employ review seller networks to post misleading content online. We can see their work on many different platforms, including SiteJabber, TrustedReviews and Reviews.io.
Some of the sites have caught these cybercriminals in the act, however, with TrustPilot flagging the company for engaging in deceptive practices. This is why it’s always important to cross-reference multiple sources.
Surprise Costs And Unknown Trading Terms
One of the most essential parts of an attractive brokerage offer are low costs. We cannot label this concrete trading environment any other way except secretive.
Basic trading parameters such as leverage and spreads are not disclosed, not even as a way to attract customers by lying about these values. As far as trading costs go, it is only claimed that the accounts feature floating spreads from 0.0 pips, which couldn’t be more generalized than that!
100% Deposit Bonus
However attractive and helpful this feature may seem at first, do not forget that most diligent world regulators have banned bonuses for a reason.
Every greedy trading portal will slap bonus cash on your trading account and then deny you withdrawals. To draw out the bonus from your account, you need to meet turnover requirements: “ X Bonus Amount * 1 = X standard lots”.
Make-Believe Trading Environment
The “very best trading conditions” on the “award winning platform” are just some of the outrageous empty claims these conners are trying to push. The actual trading environment is rudimentary at best. Truth be told, none of these faux sites are ever created with the intention of facilitating any actual trading.
Inaccessible Trading Software
The proprietary Traderup platform is allegedly so good, it puts the industry standard MT4 and MT5 programs to shame. The question is, if this software is really so good, shouldn’t it be licensed all over the world to mainstream brokerages for huge profits?
Whatever the truth may be, outsiders will find it impossible to access the platform. With registration currently closed to the public, we were unable to see the app for ourselves.
Markets To Trade
It isn’t determinable if the listed tradable assets are indeed available inside the platform. The reason for that is that the access is only allowed to the registered users. Nonetheless, these are the advertised financial products groups:
- Forex (EUR/USD, EUR/GBP, USD/CHF)
- Crypto (BTC, ETH, ADA, LUNA, SOL)
- Indices (DAX, S&P 500, Dow Jones)
- Commodities (corn, coffee, sugar)
- Spot Metals (gold, silver, platinum)
- Energies (oil, gas)
Extra Expensive Bundles
The alleged first-class Traderup accounts are described as rich with features every trader needs on their way to Forex success. All of the most advertised options and benefits relate to the commonly heard lies and false promises.
Every other illicit online financial services provider markets dedicated account managers, trading signals, and risk-free trades as something great. However, these supposed benefits are never really offered. Not even for these abysmal prices:
- Bronze: $10,000
- Silver: $25,000
- Gold: $50,000
- Premium: $100,000
- Platinum: $250,000
- VIP: $500,000+
- VIP+: $1,000,000+
Predatory Withdrawal Conditions
It is unclear through which channels the clients may facilitate a payout, however both FIAT and cryptocurrencies are mentioned. Minimum withdrawal for FIAT is 100 units of base currency (USD, EUR, GBP). The minimum for crypto is 0.026 for the BTC benchmark.
There are some concerning clauses of the withdrawal policy, however. The company requires a trading volume of 1 lot for each unit of invested base currency, which is borderline unachievable even for expert traders. This, complemented by the shady bonus policy, is a mechanism that ultimately prevents payouts.
If you need help getting your money back from these deceivers, contact our chargeback experts via the live chat.
Support Unlikely To Reply
Contacting the customer service on this site is not in any way fast, reliable or comforting. Firstly because the only way to do so is the online form. Secondly because the phone number is dead and nothing guarantees you’ll ever get a reply. We know we didn’t when we repeatedly attempted to get help with account registration issues.
Rely On Us For Chargeback!
If you’ve been defrauded and are currently examining money recovery options, you’re in the right place! Contact our legal experts via the online chat and book your free consultation today. Find out why our chargeback professionals are notorious within the scammers circles thanks to their efficiency and success rate.
What is Traderup?
It is a known fraudulent entity that has been placed on the blacklists of multiple financial regulators.
Is Traderup a Regulated Broker?
No, this company operates without any regulation or license!
Can I Trust Traderup With My Money?
Never trust your funds with an unregulated firm! For help with asset recovery, contact our legal experts via the live chat.