TradesCrypto is the CFDs broker that claims to have a forte in the cryptocurrencies. According to the broker, it’s offerings include acceptable maximum leverages and spreads; two distinct trading platforms, and three different trading account types. Nevertheless, the broker we are dealing in this review is unregulated and operational from the overseas country. In this TradesCrypto review, we will give you a complete evaluation of this broker whether it is good for you or not?
We always try to come up with an unbiased and informative review. In this process, we will evaluate all the possible advantages and disadvantages of TradesCrypto. This section will contain advantages of the broker. The broker provides leverages of 1:100 on all of the three trading accounts. Such leverages are more than enough to fulfil every trading style. Another possible benefit is its trading account. The broker gives access to the most anticipated and used trading platform MetaTrader. The MetaTrader is present in the market since the last fifteen years and since its inception, it is the most loved trading platform. It is also bundled with several high-end features like Expert Advice, Chartings, Indicators, Auto Trading and much more.
Nevertheless, the broker is operated by two different companies. First, is M K Trade LTD situated in Bulgaria and other Rivale Enterprises operational from South Africa. Unfortunately, neither of these companies is regulated by any financial body around the world. Now we can say that the broker is unregulated. Furthermore, the terms and conditions section reads that all the claims and disputes must be tackled under the laws of the Marshall Islands, region situated in the South Pacific Ocean. The Marshall Islands-based brokers are poorly regulated and investments in such brokers are unrecovered. Also, many brokers operating in this region are scam brokers.
The broker also has unusual withdrawal terms. The broker permits withdrawal only after the completion of specific trade volume requirement. Three of the accounts require high minimum initial fundings. The basic account needs $1000 to start trading on it. These are multifold high than the market average. Surprisingly enough we could not find any cryptocurrencies available on the trading platform. And it is a shame for the broker as it advertises itself as a crypto broker.
Is TradesCrypto scam or legit?
Considering the above fact we are convinced that the broker TradesCrypto is a potential scam cryptocurrency broker.