TraderXonline is a forex broker with a little over a year in the market. We do not understand how this company managed to stay in the market for this long. These scammers have already stolen people’s funds and they are still at it.
This company promises clients access to various financial markets. Additionally, it promises clients trading education. The founders believe that this combination will make anyone a successful trader.
However, this company operates with little professionalism and transparency. There is no reason why you should trust such a company with your investment. Moreover, there are already several complaints about this company. Enough people have already lost their funds to these scammers. That is enough to conclude that this is a fraudulent operation. Still, we found more damning information regarding traderx.online.
We urge you to read this full review before you choose to invest. This will help you see that nothing good can come from this company.
TraderXonline encourages clients to trade with confidence. The company assures clients that their money is in safe hands. However, with the shady nature of this company, we doubt fund safety is something it can provide.
There are various assets that you can trade on this platform. These include forex, stocks, commodities, and even cryptocurrencies. Having a variety of assets at your disposal is always a good thing. It allows investors to spread their risk across different markets. Unfortunately, this is just a marketing scheme in this company. These people are only using this to attract customers.
Moreover, this company only started in 2020. Its software is not fully optimized. At the very least, such a company lags in the market. You are better off waiting it out before you invest any money.
Another service this company provides is educating traders. The firm boasts that it can help you become a successful forex trader. We accessed the education center and there is nothing exciting about it. The information on this page is not worth your time. It is something you can access readily on a search engine for free. This tells us that there are no professionals on this team. This is not the company you want handling your funds.
TraderXonline Contact Information
TradeXonline promises to provide world-class customer support. On the website, you will find a number and an email to reach the company. We went ahead and called the number to see whether it works. Unsurprisingly, the number was not working. We only got a prompt to leave our message.
The only other way to reach the company is via email. This is not something new in scam companies. They try to control all the communication between them and the clients. That way, they can choose to ignore messages from people claiming their money back.
TraderXonline Investment Plans
TraderXonline has some of the most expensive investment plans in the market. The four main accounts on this platform include Beginner, Trader, Expert, and VIP accounts. The Beginner account expects a minimum deposit of $10,000. That is just the smallest account on this platform. The largest expects a minimum deposit of $1,000,000.
It is absurd to ask $10,000 from beginner investors. There are many companies in the market that will offer you better rates. Furthermore, such a shady organization does not deserve such an investment. We do not even know the people behind this operation. If anything goes wrong, you stand to lose an astronomical amount of money.
TraderXonline Regulation Status
TraderXonline claims to operate from the UK. Therefore, we expect this company to be an FCA regulated entity. Luckily, it is very easy to confirm this. We searched this company’s name on the FCA registry and found shocking results.
For starters, the FCA does not regulate this company. Instead, this company is on the FCA’s warning list. The FCA states that this company does not have the authorization to provide its services. This means that this firm is an illegal operation in the UK. The founders are providing financial services without a regulatory license.
You will always lose your money if you invest in unregulated companies. Additionally, you will have less protection. This is clearly stated on the FCA’s website. For your own good, avoid this firm at all costs.
The People Behind TraderXonline
We have already established that this company does not have regulations. Now we want to find out who is behind the operation. For this, we looked all over the website including the about us page. Sadly, there were no names nor faces to associate with the company.
The founders of TraderXonline are cowards. They are hiding their faces because they know what they are doing. After they steal people’s funds, they will easily disappear. You will not be able to reach them. After all, the number they provide does not work.
TraderXonline is providing several locations for its offices. The founders want you to think they are a large organization. You may think that this is true with offices in Germany, United Kingdom, and New Zealand. However, we doubt that you will find them in any of these offices. These are anonymous individuals that could be anywhere in the world.
The final nail on this company’s coffin is the multiple negative reviews on Trustpilot. 74% of the ratings on Trustpilot are one-star ratings. Only 26% of the ratings are positive. Even with that, we believe that the positive reviews are from fake accounts created by the company.
Take it from the several people claiming to have lost their money. The customers claim that the firm does not allow you to withdraw your funds. Additionally, a customer claims that TraderXonline tries to get you to invest even more money.
Eventually, these scammers even convince customers to send money in Bitcoin. This ensures that victims cannot trace nor recover their funds. They even close client accounts without warning.
People have already lost their livelihoods to these scammers. They are taking life savings from people without a care. Traderx.onine is not the place for you.
TraderXonline Domain Insight
Traderx.online only takes out one-year registrations. This is common in fraudulent operations. Such companies never have a long stay in the market. Once they scam people, they disappear from the web. Of course, they always rebrand and come back with a different name.
Ensure that you are investing in a company that is planning to serve customers for a long time. You can always check the company’s registration details on Whois.com. That will tell you the life expectancy of the platform.
The Bottom Line
You do not want to invest in an unregulated company. That is a recipe for disaster. It is even worse when you invest in a company on a regulator’s warning list. Companies fall on such lists after thousands of complaints. You will have no protection should you choose to invest.
Furthermore, enough people are already submitting negative reviews. They claim to have lost their money to these scammers. Listen to them and keep your money in your pockets. If you have to invest, ensure you are dealing with a reputable company. Only companies with years of experience in the market can provide you with professional services.
In the meantime, here is another forex broker on a regulator’s warning list that you should avoid.
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