TraderVesta Review: Is This Another Online Trading Scam?
TraderVesta claims to be a legitimate and long-standing platform with favorable trading conditions. However, it was not difficult to see right through the cunning disguise and notice that this website was a pure hoax.
The phony provider stole the name and brand of a popular brokerage firm, Ava Trade! What you’re dealing with is essentially an anonymous website, just like Bacco Capital. For that reason, you should read our TraderVesta Review and learn the truth. Find out how to recover funds from this illicit platform.
|Unregulated Scam Broker
|Is This Company Safe?
|Have Warnings from:
|Forex, Indices, Stocks, Commodities, Cryptocurrencies
|Free Demo Account:
|How to Withdraw from This Company?
|Since this company is unlikely to return your money – contact your bank or financial regulator, or simply reach out to us for professional assistance in recovering your funds.
Legal Info: Is TraderVesta Regulated?
As we already stressed, the legal documentation claims the TraderVesta investment platform is the brand of AvaTrade. If you check the website of this legitimate firm, you won’t find TraderVesta anywhere. It is a cunning ruse used to deceive unwary traders.
The broker is not licensed to provide Forex trading services and therefore, the platform can potentially scam all of its users.
Instead of trusting unlicensed tricksters, you should stick to regulated providers operating under the supervision of esteemed financial authorities such as the FCA (UK), CFTC & NFA (US), ASIC (Australia), IIROC (Canada), BaFin (Germany), MAS (Singapore), CySEC (Cyprus), etc.
Who Are TraderVesta’s Targets?
According to godaddy.com/whois, the Tradervesta.com website domain was created on May 3, 2023. Since then, the financial swindler has mainly been targeting unsuspecting traders who reside in the following countries:
- United Kingdom;
- South Africa;
Each of these countries boasts heavy financial regulations and laws in order to prevent unauthorized imposters from defrauding local traders. Some jurisdictions are looser, which we explained in our Ausprime review.
South Africa may be a bit laxer but the UK and Canada are unforgiving when it comes to enforcing tight market regulations. One common law stipulates that each financial market participant is required to possess a necessary license or permit and this broker does not.
TraderVesta directly violates their rules by offering users leverage higher than allowed in Europe (1:30) or North America (1:50).
Trader Reviews – Sharing Experiences
TraderVesta reviews are pretty scarce. We did manage to find some complaints against the platform, explaining how they lost money to the anonymous fraudster. Traders agreed on Reddit that the platform is not trustworthy.
These cybercriminals behind the shady website wanted one trader to “pay several ‘taxes’ in order to withdraw [his] earnings,” according to the review on scamadviser.com. It’s illegal for a broker to demand an upfront fee before fulfilling withdrawal requests. Other negative reviews further expose the TraderVesta crypto scheme.
Which Trading Platform Is Available?
TraderVesta’s trading platform is a relatively simple web-based trading terminal that supports popular trading instruments such as Forex currency pairs, indices, commodities, stocks, and cryptocurrencies.
Despite the clever advertising on the bogus website, the platform’s interface is quite lackluster, consisting of just some basic charts, graphs, and indicators. There are no advanced tools and no demo account, so you cannot try out the platform for a free trial period.
If you want a pure trading experience, you should stick to licensed providers that support recognized third-party software such as MetaTrader 4, MetaTrader 5, or cTrader.
MT platforms are arguably the best in the industry, enabling traders to utilize innovative tools such as automated & algorithmic trading, advanced charting, live market reports, branch optimization, 20+ timeframes, EAs, a user-friendly interface, etc.
Available Live Account Types
Leverage, Spreads, Commissions
The maximum leverage that TraderVesta offers is capped at 1:1000, which, as we mentioned, is significantly higher than the legal cap in force in top-tier jurisdictions. High leverage can amplify potential profits but also potential losses.
The spreads and commissions, i.e. trading costs were not disclosed, which is shady due to the fact that scammers are known for charging hidden fees.
Moreover, the broker awards clients bonuses, which, by the way, are banned in Europe. These pesky “incentives” come with strings attached though.
The bonus policy stipulates that “bonuses issued to Client by Tradervesta.com may only be withdrawn subject to execution of a minimum trading volume of 25 times the deposit amount plus the bonus issued,” which is a pretty insane trading volume requirement and definitely not something you would want in your contract.
Deposit and Withdrawal Process
TraderVesta states that there are several available payment methods that can be used to fund live trading accounts:
- Credit/debit cards;
- Wire transfers;
In case you deposited funds via MasterCard or VISA credit/debit cards, you can request a chargeback at the issuing bank within 540 days and reverse the transaction. Wires can be reversed via a recall but this action can only work for transactions yet to be completed.
The reason why scammers prefer crypto payments is that they are extremely hard to trace and undo, plus such a method allows them to remain anonymous and run their schemes.
To reverse crypto transactions, you’re going to need to seek out professional assistance as these types of payments can be a nightmare to undo. Luckily, we have a team of experts that can help you recover your funds.
Key Facts To Consider About TraderVesta
TraderVesta is an anonymous trading scheme aiming to deceive traders from the UK, Canada, and South Africa. This brokerage is definitely not AvaTrade’s brand.
We do not recommend this platform because it is unregulated and not transparent at all. In case you’ve lost money to the TraderVesta scam, you must seek our professional help to recover your funds!
Use the form below to book your free consultation with Scam Brokers Reviews and tell us more about your case. Our team will gladly guide you through the fund recovery process and assist you every step of the way.
Book your consultation with us today and start the chargeback process.
What is TraderVesta?
TraderVesta is an anonymous trading scam using a web platform and fake accounts to steal users’ hard-earned money.
Is TraderVesta a Legit Broker?
No, TraderVesta is not a legitimate and licensed broker. It’s a bogus website with fraudulent content.
Can I Recover Money from a Trading Scam?
Yes. You should book a consultation with our team so we can explain to you how the chargeback process works.