Trademarketspro: What is it? Does it work well for trading? Come on, let’s go deeper into the information provided by Forex Broker to learn more about it.
You can help us put a stop to online scams before they grow too big and end up ruining thousands of lives. A scam is a scam, doesn’t matter if it’s big or small. Now that this is out of the way, let’s get started with the review.
Trademarketspro asserts that it provides both retail and institutional clients with “a full range of economic services and advice, based on a foundation of trustworthiness and experience.” Additionally, they state that they are based in the United Kingdom, which all sounds wonderful but is untrue. First off, there is no regulation of the website whatsoever, least of all in the UK, where the “broker” also claims to be situated.
However, to make matters worse, the website looks to be essentially untraceable as well and exhibits every symptom of fraud we can imagine. Therefore, you should think again and read the following lines if you continue to think about the idea of dealing with the forex markets with the fake website in question.
Regulation by Trademarketspro
Trademarketspro asserts that one of the largest international economic centers—in this case, London—is where its corporate headquarters are located, which is a frequent practice with scam websites like this.
However, if that were truly the case, the website would also have required a license and approval from the UK’s Financial Conduct Authority (FCA), which is just not the case.
We also took the time to look through the regulator’s registrations, but it was in vain; there, we couldn’t find any brokers or businesses by the domain name Trademarketspro.
To that end, the Trademarketspro website also appears to be practically unidentified. You must agree with us that if you cannot confirm the identity of your new broker in the registers of any legally binding regulatory institution, such as the FCA, you only have no logic to believe something the broker may claim, including whether or not its alleged London address is real.
Additionally, the absence of a legitimate forex license alone is more than enough to rule out Trademarketspro as a fraud. In these situations, our strong recommendation is to constantly double-check your new broker’s identification and license credentials in the registries of the relevant regulatory institution, and if something does not match, to avoid making any deposits at all.
What is a Ponzi Scheme?
A Ponzi scheme is a criminal deception investing fraud pledging increased rates of interest with less chance of loss to investors. On the other hand, a Ponzi scam is a deceitful investing fraud that induces retrievals for earlier investors with money carried from later investors.
The platform for trading at Trademarketspro
Trademarketspro claims to offer a feature-rich, intuitive, and user-friendly trading platform, but in fact, only provides a basic online trader. You can view a screenshot of Trademarketspro’s trading platform below.
Keep in mind that if your new broker does not provide you with any tested and reliable trading tools, such as the industry-standard MetaTrader4 and MetaTrader5, this is yet another telltale sign that we are dealing with a scam.
Minimum deposit: Trademarketspro
The bare minimum deposit amount at Trademarketspro appears to be simply $250 USD, which is quite high in comparison to the minimum deposit amount that most brokers would require.
Payment options for Trademarketspro
Visa, Mastercard, CashU, and bank wire transfers are among the payment methods that Trademarketspro appears to accept. Whatever the case, keep in mind that it is fairly usual for scam websites like this to actually demand that you make your deposit in bitcoins or other crypto coins—a ruse that has a pretty decent justification.
To begin with, remember that a cryptocurrency transaction cannot be undone under any circumstances, not even if you later understand you were defrauded. What are you going to reply if we also tell you that you have no way of knowing who exactly the Bitcoin wallet is that you are sending your money to?
In contrast, if something goes wrong after you make your deposit more traditionally, such as with a debit or credit card, you still have the opportunity to recover your stolen funds if you apply for the fee back at the bank that issued your card. And if you occur to be confronted by unregulated, essentially nameless crooks like Trademarketspro, it is precisely what we would normally urge you to do right away.
|2-5 Business Days
|2-5 Business Days
|Fee Depends on Crypto
Trading instruments at Trademarketspro
According to Trademarketspro, they provide a wide variety of trading instruments, such as FX pairs, metrics, stocks, commodities for energy, precious metals, futures, and ETFs. Additionally, Trademarketspro claims to offer cryptocurrency, but it does not alter the fact that they have to deal with an unlicensed scam.
The spreads we saw on the trading site essentially started as high as 3 pips, which is a significant contrast from the tight spreads that were touted in the presentation. Regardless of the circumstances, you can find our list of brokers who offer tight spreads here since the website is not to be trusted in any case given that it is unregulated, virtually anonymous, and all that.
The maximum leverage appears to be 1:200, but again, the website cannot be relied upon.
It’s worth highlighting that many regulated brokers can’t offer such high leverages because it’s extremely risky.
Trademarketspro’s Conditions for Withdrawals
Also keep in mind that trying to withdraw money from unlicensed websites like Trademarketspro is, to put it mildly, challenging. To begin with, you will be unpleasantly astonished to hear that you will have to pay an excessive withdrawal processing and handling fee that frequently exceeds 20% – a price that you will have to pay regardless of whether your withdrawal request was ultimately refused or not.
Get Justice Suspicious
Additionally, if you have been duped into accepting a trading bonus of any kind – Trademarketspro offers welcome bonuses of up to 100% – you will also be required to meet some formidable minimum trade volume requirements made with the express intent to prevent you from making any withdrawals at all.
|Trading volume requirement
|Fee/Tax on withdrawal
|20% on withdrawal
|UK regulated brokers
|EU regulated brokers
|AU regulated brokers
|US regulated brokers
Last but not least, Trademarketspro might be characterized as being completely unreliable for investment purposes. So what are your thoughts? But be sure to consider your investment before you do. Wishing you luck and safety.
After going through the above points, it’s clear that this forex broker is not as reliable as it claims to be. Beware.
- Lack of a valid Forex license
- It falsely states that they are based in the UK
- It is an almost-anonymous website
- Untrustworthy trading platform