LocalTrade Review
Overview:
The cryptocurrencies broker LocalTrade was established in 2017. It provides cryptocurrency to cryptocurrency and cryptocurrency to fiat currency spot trading. It also offers Two Factor Authentication for higher security. It claims to charge a flat commission on every trade. However, this broker is anonymous and does not have regulation. In this detailed LocalTrade review we will reach all the corners of this brokers presentation. So, read it completely.
About LocalTrade:
To make simple and unique review we must talk about possible advantages and disadvantages of LocalTrade. first we will discuss LocalTrades’ advantages. The broker claims to charge a flat fee of 0.20% on every trade which is acceptable. The investment payment made at LocalTrade are free of charge and withdrawal require very little fees. Also, it offers cryptocurrencies like Bitcoin, Ethereum, Zcoin and more. The cryptocurrencies can be traded against each other or with fiat currencies like US dollar or Euro, American Dollar, Indonesian rupiah, UAE Dirham, South African Rand and so on. The traders at LocalTrade can use PerfectMoney and AdvanceCash for real currency deposit and withdrawal and they are convenient. Sadly, we could not find anything about bank wire transfer or credit cards or check. The broker LocalTrade also offers cloud-based mining of E-Dinar that is quite convenient than home mining. A web trader trading platform is offered to its clients.
In this section, we will talk about the disadvantages of LocalTrade. The broker LocalTrade fail to offer information on leverages. The cryptocurrencies were launched with the idea of anonymity, however, LocalTrade does not allow trading unless user identity verification is done. The corporate presentation of LocalTrade is the very poor. The official website does not feature any company name, company’s background, or headquarter. However, LocalTrades Twitter account is operational from London, UK. The broker does not offer valid facilities to store cryptocurrencies like most of the cryptocurrency brokerage services provider do. LocalTrade is also not regulated and it is an alarming fact. Trading with unregulated broker is just like giving money to unknown person and it is very hazardous.
Is LocalTrade scam or legit?
The overall presentation of local trade is very poor. It does not hold a valid licence to provide cryptocurrency trading services. The broker is completely anonymous and trading conditions are not good. Considering all of this we claim that the LocalTrade is a potential scam cryptocurrency broker.
