TradedWell is a recent CFD & FX broker found and regulated in Cyprus. This trading name managed by iTrade Global (CY) Ltd, approved and regulated by the Cyprus Securities and Exchange Commission (CySEC) (License number 298/16).
In this honest review we will inform you about our TradedWell practices we found from multiple sources on the web. We will go into this broker’s essential aspects and see if it deserves a try or is it a scam? Let’s find out:
|Broker status:||Offshore Regulated Broker|
|Regulated by:||CySec Regulation|
|Scammers Websites:||tradedwell.com (active)|
|TradedWell Owner:||iTrade Global (CY) Ltd|
|Supported Trading Platforms:||MT4, WebTrader|
|Cryptocurrencies:||Available (BTC, XRP, ETH)|
|Types of Assets:||Forex (FX), Commodities, Indices, Shares, Cryptocurrencies (Cryptos)|
|Negative Balance Protection:||Yes|
|Islamic Account:||Not Available|
|Free Demo Account:||Yes|
|Accepts US clients:||No|
Watch TradedWell Video Review:
TradedWell Regulation and Licensing Details
As mentioned above, TradedWell is a regulated brand under the CySEC (Cyprus / EU) regulation when it comes to legal permits. Furthermore, The company’s main office – Isiodou, Andrea Laskaratou & Emanuel Roides Street 10-12, 2nd Floor, Ayia Zoni, 3031 Limassol, Cyprus. You can find more data about the permit on the CySEC official website.
Furthermore, it means that they might hold an inspection from CySec, but it doesn’t mean they cannot scam you. Moreover, we found out numerous reports about TradedWell unsatisfied customers claiming their agents siphoned their life savings.
What’s Wrong With TradedWell License and Regulation
As aforementioned, TradedWell regulation comes from CySEC, Cyprus authority body. However, the company owner changed its name and has two other brands that are not qualified well. After checking some of TradedWell reviews, we noticed that this broker is not the best choice for trading despite the regulation.
TradedWell is a brand name of iTrade Global CY Ltd and also obeys the advanced governing bodies like EU, MiFID, ICF. The firm is a part of Investors Compensation Funds, follows account segregation, and no damaging balance policies. Every clients’ money is insured up to 20,000 euros, which can help in fraud cases. The firm is also not allowed to use client capital in emergencies like bankruptcy. Furthermore, TradedWell can advise financial services to most of the European Union.
As a CIF, a broker has the legit right to operate in the EEA zone based on its EU passport. Besides the EEA zone, it can provide financial services to third countries if it complies with the trading regime.
Other than those countries, every other one is prohibited. The broker specified that it doesn’t operate in the USA and Canada, while it’s on a temporary regime in the UK and can provide only limited services.
What can you deal with TradedWell?
The broker proposes over two hundred different trading instruments, which is related to the ordinary broker. Still, TradedWell.com offers an above-average volume of cryptocurrencies but could attach a few more stocks. Contracts for difference (CFDs) expectations are available and practice different prospective arrangements as carried from other exchanges such as the ICE or CME.
So what can you trade with TradedWell? You can deal with several global markets such as:
- Foreign exchange
- Precious metal
- Cryptocurrency CFDs
You can choose from up to a hundred diverse stocks from all parts of the world.
And what about accounts, you say? Well, there are three separate types of account plans at TradedWell: Silver/Gold/Platinum. Each standing allows other positions and open access to further services. What kind of plan you have will depend on your trading behavior’ deposits and capital.
When you register, your account manager will call you to advise you with setup and anything extra you need to do to start quickly as possible. The broker claims your Account Manager will determine which level your account should fit. However, other reports say that past customers experienced unprofessional plan suits, leading most of them to heavy losses.
TradedWell Trading Platform Review – Is It Safe For Use?
The firm provides particular options as a trading platform. The broker supplies your path to the famous (MT4) MetaTrader4, a conventional desktop trading software, a mobile application, or WebTrader. Here’s some additional information:
Mobile Software: TradedWell has combined its trading servers to the MetaTrader 4 mobile software. You can reach your funds and trade from everywhere, as long as you possess your mobile in your pockets. The app is obtainable for both Android and Apple users. Furthermore, the exchanging app is useful if you want to trade while you’re away from home.
WebTrader Option: the broker grants the MetaTrader 4 as a WebTrader if you want to enter your account from a separate computer. You can log in and use most of the functions that are available in regular MT4. However, you will not be able to see your desktop surroundings. Yet, you can reach your open positions, adjust them or clear current ones.
MetaTrader 4: TradedWell concentrates on the usually practiced trading software globally, which is MT4. MetaTrader 4 is a sturdy, fast and resilient trading software used on both MAC and Windows workstations. Once you have registered with TradedWell, you can enter their trading platform within a demo account – free of charge.
TradedWell Scam – How Does It Work?
As with every online trading scam, this one starts with signing up for a trading ad. Afterward, you are being connected to a support team that will assist you with TradedWell’s minimum deposit of $250. Once it’s done, some sort of account manager will be in charge of your “trading education.” What you don’t know, or might know, but don’t think of it, this person works for a commission. And, of course, he will start explaining to you how low the amount of $250 is. If you want to make a profit, you need to invest “real” money. It will all sound logical.
Then, when you enter the market, you will discover that the broker offers unregulated leverage of up to 1:400 and is risking your funds. Besides, you won’t be able to withdraw your funds. Global Fraud Protection recently discovered that many investors are experiencing withdrawal issues with the TradedWell broker. If you are one of them, tell us immediately.
TradedWell Withdrawal Issues
As mentioned above, TradedWell withdrawal issues are not big news. What is new is that you have a way to fight it right now and get your funds back.
If you have experienced such a problem, and the broker simply refused to give you a deposit or any part of profits, report it immediately and request a chargeback.
Scammed by a TradedWell broker? We Know What to Do!
This TradedWell review is diverse, as we advise Crypto traders to take another look at TradedWell. However, beginner traders should test the free demo account prior to starting with an account based on real money and checking out the learning materials.
If you feel that TradedWell abused you, or violated any terms and conditions, and somewhat scammed you? Please contact our team of professionals for more information. We are waiting to hear your story!
Do not let this scam broker get away free!
What is TradedWell?
TradedWell is a multi-asset online broker from Cyprus, regulated by CySEC.
Is TradedWell regulated?
Yes, the broker is regulated by CySEC and has the option to offer its investment services to most of the European Union.
Who is the owner of the TradedWell broker?
The owner of TradedWell is iTrade Global (CY) Ltd from Limassol, Cyprus.
Is TradedWell trading Legit?
Our opinion about this issue is mixed as well, because on one hand, it seems legit to trade with. However, complaints about TradedWell are pretty common online.
Is my money safe with TradedWell?
We can’t tell for sure. However, we highly recommend our readers to check other regulated brokers before dealing with TradedWell.
Does TradedWell Offer a Demo Account?
TradedWell broker does offer a Demo account where you can test the trading environment.
What is the TradedWell minimum deposit?
TradedWell requires a minimum deposit of $250 to start trading on the financial market.