Also commonly known as Trade Fred, Relating to the BetFred Group indeed presents the operation to be severely questionable, particularly when acknowledging its regulative state. As TradeFred claims to have several regulations, we found only warnings from just a quick search. Most importantly, their supervisory authority was the VFSC (the Vanuatu Financial Services Commission), an offshore regulator.
In this particular article, we dug up some interesting recent facts about the well-known broker – Trade Fred. Some of these fact may be alarming:
|Headquarters Country:||United Kingdom|
Regulative Status and Security
Honestly, we hold no grudges upon the VFSC whatsoever; we should note that the VFSC is not a very prestigious group for permitting and regulating financial actions of the sort proposed by the broker.
However, TradeFred claims it has made progress in this value: Not long ago, TradeFred received a CySEC regulation replacing the VFSC one. Furthermore, Trade Fred claiming the broker is MiFID obedient.
Thus, it can allow investment assistance throughout the European Economic Area countries. Unfortunately, it seems an entirely fake statement because many reviews from past clients state: TradeFred scam people with false regulations and other violations against their clients.
Additionally, our research conducts that the hydra behind TradeFred is MagicPath Capital Ltd; It operates the business in Europe from the official offices In the UK.
In which countries does this broker work?
TradeFred claims they have regulations to trade with anyone worldwide. However, it seems that this broker turned unregulated, while he tries to promote his past regulations as if TradeFred still owns them. That is considered highly fraudulent.
What can you trade with them?
The broker is mainly focusing its services on the trading of FX and dealing CFDs. TradeFred reaches a decent variety of assets, with fifty currency pairs involved in the FX section apart. The broker FX exchange performance seems low. Furthermore, while TradeFred’s official site promotes highly aggressive spreads, TradeFred’s spreads are set. The maximum potential leverage on FX pairs is one to five-hundred.
TradeFred stocks sector claims “fantastic execution” coupled with fair spreads and optimal market coverage. However, the highest leverage on this commodity section is merely one to ten. Our TradeFred review reveals that the broker’s Indices section covers markets from six regions, as it also allows aggressive spreads there. The maximum leverage is disturbingly below common for this section as well: one to twenty-five.
Valuable minerals like Silver, Platinum, and Gold are continually familiar to investors. Moreover, TradeFred claims users will be able to purchase these minerals with decent spreads and maximum leverage of one to twenty-five.
Is the TradeFred Trading Platform Secure?
When you trade with unregulated or once regulated brokers, it usually ends badly. For instance, TradeFred claims to own regulation with the Australian regulatory entity ASIC. Despite the fact they have a severe warning from ASIC about their false practices alongside EuropeFX. Furthermore, past clients claim TradeFred also has problems with withdrawal requests. Moreover, blocking their requests.
What happens if I get scammed by a broker?
From this TradeFred review, we can establish that the broker is a harmful trading purpose, featuring faulty trading platforms and an acceptable commodity range. However, TradeFred’s current regulative state is indeed a cause for concern. As we mentioned alongside this article, many TradeFred reviews online tell negative experiences with the broker, with countless examples.
If you’ve been scammed by TradeFred, and you feel you are lost. Don’t lose hope just yet, because our team of experts might help you out, and save your lost funds.
Is TradeFred service legit?
From our study from various sources, TradeFred seems to abuse users, as they claim they own regulation to trade, and they don’t. Furthermore, we strongly recommend our readers to avoid dealing with this faulty broker.
Is my money safe with TradeFred?
Unfortunately, no. Whenever traders risk they’re capital with unregulated brokerage firms, there’s a very reasonable chance to lose all their fortune. Moreover, these brokers can easily scam their clients for no particular reason, anytime.