If you’ve never traded before, it can be a hard step to take. You need to be sure you are in the right place. And if you do have experience, then you know how important it is to put your money in the right hands.
Therefore, you must have a lot of questions. Is TradingTreck regulated? Where is it based? Is it a legit and trustworthy or a scam broker?
We’ve answered all of those in our profound TradingTreck review.
|Broker status:||Offshore Unregulated Broker|
|Regulated by:||No Regulation|
|Scammers Websites:||www.tradingteck.com and www.tradingteck.co|
|Blacklisted as a Scam by:||FCA (UK), MAS (Singapore) and LB (Lithuania) Regulators|
|Broker Owner:||SecVision Limited|
|Headquarters Country:||Saint Vincent and the Grenadines|
|Types of Assets:||Commodities, Indices, CFDs, Shares, Forex (FX)|
|Free Demo Account:||No|
|Accepts US clients:||No|
TradingTeck Regulation and Security
According to its website, the broker is owned by SecVision Limited, established in 2020. The company is based in Saint Vincent and the Grenadines, an offshore country. This makes us wonder, what about TradingTeck regulation.
What’s Wrong With TradingTeck Regulation?
After we’ve carefully reviewed the FSA SVG register, we could not find TradingTeck listed anywhere. This leads us to the conclusion that TradingTeck is just another fraudulent broker with no license.
Be aware of the TradingTeck scam!
Scam Warnings From Financial Regulators
Many regulatory bodies recognized TradingTeck as a threat and scam. The UK FCA published a warning in September last year and renewed it the previous month. It only means that more and more people are filing complaints about this unregulated brokerage.
What Trading Platforms Are Available?
There is only one TradingTeck trading platform available – a web trader. Like many unregulated scam brokerages, this one is offering only a web trader. This kind of trading platform is the least secure and traders should avoid it at all costs. Every reputable broker offers either MT4 or MT5 along with a web trader due to a higher security level.
The leverage this broker provides is rather high – 1:200. Another proof that the broker is not legit. Brokers regulated by FCA, ASIC, or any other regulatory body are limited to leverage up to 1:50 due to security reasons.
What Can You Trade With a TradingTeck Broker?
When it comes to trading assets, the offer of the broker is not as varied as some brokers we’ve seen. There are currency pairs, commodities, indices, and stocks. You can notice that there are no cryptocurrencies available, even though it’s the most tradeable asset nowadays.
Speaking of TradingTeck minimum deposit, it’s $250. That’s more than other, regulated brokerages are offering. The FCA, ASIC, and other regulated brokerages are offering you to start with as low as $10.
Nowhere you can find a list of fees and commissions the broker is charging. But you can find is a lot of withdrawal issues and complaints.
Scammed by TradingTeck broker? What to Do?
If you were misled or scammed by a TradingTeck broker, there are several things to do. You can file a dispute and request a chargeback. Bear in mind you are not the only victim of the TradingTeck scam.
Contact our support team via chat and let us know about your experience with this or any other fraudulent brokerage.
Do not let this scam broker get away free!
What is TradingTeck?
TradingTeck is an online trading brokerage with no regulation.
Is TradingTeck regulated?
This online broker has no regulation for providing financial services.
Are My Funds Safe with a TradingTeck broker?
Your funds are not safe with this brokerage, since TradingTeck is offshore and has no regulations.