TradeVtech Review: Key Takeaways and Summary
If you ever find yourself looking at the TradeVtech website, you will see a broker claiming to teach clients how to grow their trading business. Now, if you know, as we know, that it’s not that easy to just show someone trading, but the broker needs to be legit and also regulated, you know you should be careful.
Read our TradeVtech review and get it all.
|Broker status:||Offshore Broker|
|Blacklisted as a Scam by:||FSMA, CONSOB|
|Owned by:||UMedia LLC|
|Headquarters Country:||Saint Vincent and the Grenadines|
|Supported Platforms:||Web trader|
|Cryptocurrencies:||Yes – BTC, ETH, XRP|
|Types of Assets:||FX, commodities, indices, shares, cryptocurrencies|
|Free Demo Account:||No|
|Accepts US clients:||No|
TradeVtech Regulation and Security
TradeVtech is a brand owned by UMedia LLC from Saint Vincent and the Grenadines. It means we have yet another offshore brand that has no authority to provide financial services. The FSA, a regulator of SVG, claims to just register businesses, while for the real financial regulation, brokers should opt from countries they operate in.
Yet, we haven’t found TradeVtech regulation with FSA or any other Tier1 regulator such as ASIC and FCA. Do not deal with this scam.
Warnings From Financial Regulators
As it happens with many offshore brokers, TradeVtech was too arrogant to understand what happens when you defraud too many clients. Once all of them filed a complaint against the broker, regulators reacted. The first one to publish an official warning was the Belgium FSMA, stating that TradeVtech is a scam.
The warning was followed by the same one from the Italian CONSOB. This tells you how serious a scam TradeVtech broker conducts over Europe is.
Fund Withdrawal Issues
If you ever had experience with illicit offshore brokers such as TradeVtech, you know how difficult it is to get your money back. Since these brokers have nobody overseeing their activities, they tend to scam clients, wipe out all the money and simply block accounts. For example, if you submitted a withdrawal request and your account got blocked, know that the broker did it on purpose.
If you found yourself in such a situation, contact us immediately.
If you ever had a chance to see TradeVtech reviews, you know that the company has an extremely bad reputation. We will give you just one of the examples coming from the Trustpilot website. The rest conclude for yourself.
“Don’t get involved with these people. Once you have paid your deposit they try to convince you to increase the amount. When you ask for your deposit to return it to your bank account, everything remains silent. They sent me e-mails with the subject: YOUR DEPOSIT IS NOT SECURE. That’s the only that’s right.”
How Does Online Trading Scam Work?
Usually, online trading scams start from signing up for an ad. What happens later depends on the kind of broker you’re dealing with. If you are involved with an offshore broker, such as TradeVtech, you will experience something terrible. Your funds might be taken without your approval, your withdrawal requests will be denied, and your account will be blocked.
Do not hesitate to report such a scam.
Scammed by TradeVtech?
Being scammed by TradeVtech or any other broker is not easy. That’s why you need a solution for your money back. And that solution is a chargeback.
But what is a chargeback?
It’s a way of refunding your card if you were scammed online. Our expert team worked for years to gather the knowledge for such an operation. Contact us via online chat, and let’s see how we can help you get your money back.
What is TradeVtech?
TradeVtech is an online trading brokerage without a trading license.
Is TradeVtech a scam?
TradeVtech is an unregulated brokerage that has no authority for providing financial services.
Is TradeVtech regulated?
TradeVtech is not regulated and is not a licensed broker. Do not trust such scams.