TDS Capital group review – 5 things you should know about Tdscapitalgroup.com

TDS Capital group review – 5 things you should know about Tdscapitalgroup.com

Beware! TDS Capital group is an offshore broker! Your investment may be at risk.

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

 

TDS Capital group is a Forex brokerage with a clear focus on crypto trading registered in the Dominican Republic. Traders are provided both with a web-based platform, as well as a wide range of trading products. From the website we gather that potential clients are required to deposit a minimum amount of $250 which is the industry average. At $38 on BTC/USD, the spread offered by TDS Capital group is favorable for traders.

TDS Capital group regulation & safety of funds

According to the website of the brokerage the company behind it is registered in the Dominican Republic by the name Optima Express inc. Going through the terms and conditions of the brokerage we find no mention of a regulatory oversight and this shouldn’t come as a surprises since the Dominican Republic is not known for its strict regulatory standards.  We can safely conclude that TDS Capital group does not fall under any regulatory oversight. The lack of regulation brings with it a whole hornets nest of troubles, most important of which is the lack of authorities to which to turn in case of fraud.

Going through the website we understand that the brokerage is primarily focused on crypto trading and the brokerage does provide a web-based trading platform with an available demo account. Here is a screenshot:

Through a demo account we could see a spread of $38 on BTC/USD which is below the industry average and certainly favorable for traders in our opinion. We cannot discern what leverage the brokerage extends traders, however, unregulated brokerages usually provide more than 1:100. The required minimum deposit is the industry average of $250 which is nothing out of the ordinary. However, having in mind the lack of credible regulation we are inclined to believe that the safety of the clients funds may be compromised.

Traders needn’t have to worry themselves with such risk if they choose to trade with a brokerage regulated and authorized by a prestigious regulatory agency. Such agencies are the Financial Conduct Authority in the UK or CySEC in Cyprus which have been leading names in Forex trading for some time now. Their regulatory framework is composed of a number of strict rules which prevent clients from falling victims to fraud. Such rules include the segregation of accounts which assures that commingling with the client’s money is not possible. Furthermore, a license by such a regulatory body entails participation in a financial mechanism by which clients may be compensated if they suffer losses due to fraud or bankruptcy. The FCA compensates traders up to 85 000 pounds where as CySEC guarantees up to 20 000 euro per person.

TDS Capital group deposit/withdrawal methods and fees

Potential clients of the brokerage may deposit or withdraw via a wide range of payment methods which include BITFINEX, Bitstamp, POLONIEX, coinbase, Kraken, Bittrex, CoinPayments, Binance and Huobi. The standard Visa and MasterCard are strangely missing.

Going through the brokers terms we did not come across any worrisome provisions such as dormant account fees or withdrawal requirements. The brokerage openly states that there is no withdrawal fees, however, we always remind readers of all the ways a trader may test the brokerage’s intentions. Firstly, traders are advised to always put up only the required minimum deposit, instead of risking a bigger amount with no certainty. Afterwards, they may also try to withdraw a small amount in order to check for any unexpected fees or delays. Such fees and delays are usually the signs of a scammer.

How does the scam work?

One of the reasons regulation has such value in the trading world is because scamming is quite common and it acts as a sort of guarantee that such a thing would not happen. Nevertheless, here is how a typical scam would go about:

Through clicking an ad with promises for fast money, you will be redirected to a website such as CashlessPay Group or Crypto Revolt where registration will require you to give your address, email and phone number. After sharing your personal information, you will being receiving calls from brokers, compelling you to invest with them and win big. After a few minutes hearing their pitches, you decide to deposit some $200-250. And just like that – the scammers take a fat commission from this initial deposit.

After they are done with you, senior scammers begin working you into putting even more money. They say it’s the only way to profit from trading even more. After making the mistake of investing even further, you’ll begin wanting to get out of this and withdraw what you have left.

Unfortunately, the con-artists have no such thing in mind. They will now begin persuading you to wait it out and not withdraw right now. The angle here is pretty blunt – traders have a limited time period for filing a chargeback with their bank and get their money back. The “recovery department” will simply want to mislead you into missing thе crucial period and, along the way, losing any chance you might have of getting the money back.

It is important here to take notice that both Visa and MasterCard are taking measures to combat unregulated forex brokerages by classifying all forex transactions as high risk. And with the case of Axe invest – they are correct in doing so. Furthermore, supporting their intention with clear actions – MasterCard has increased the previous time period of six months for filing a chargeback to a year and a half.

What to do when scammed?

As was mentioned above, scamming is quite the common in the trading world and, sadly, even you might suffer from it. In such an unfortunate case there still may be some available options for you.

You may contact your bank or credit card provider and file a chargeback. 

If, however, you have provided the broker with your credit card details, immediately cancel your credit card.

If you have given information regarding your online banking pass – you should switch it asap!

Beware of potential calls from self-described “recovery agencies”! They prey on scammed and vulnerable traders who are desperate to recover their losses. They will require an “up-front” payment to help you, but after paying them, no such help will be coming your way!

Rich Snippet Data
Review Date
Reviewed Broker
TDS Capital group
Broker Rating
1.11star1stargraygraygray

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9 Comments

  1. George Andrews

    I have used TDS Capital Group – after signing up their account manager who was a senior trader (allegedly) contacted me on many occasions – he helped guide me through the use of their website and together we successfully executed around 60 trades – however – i was concerned at the constant requests to deposit larger and larger amounts of money (i deposited £5000) – i made two small withdrawals out of profits i made – i then decided that this was not for me and asked to withdraw my remianing balance (around £9000) – i submitted a withdrawal request on 23 March – despite numerous e mails – telephone calls (very expensive) i have still not been able to complete the withdrawal – their support desk promnise to get back to you and NEVER do – customer service is simply awful and this is beginning to feel like a scam.

  2. I put up the initial deposit of $250.00 USD deposit on that 20th of May and one of the brokers rang mr up from DTS Trading Group, got me to go on the Website to start trading and I made a little bit of profit of $51.00
    Then the market was starting to go down and then the broker wanted me to deposit $2,000 more and he started to intimidate and bully me when I didn’t want to tell him how much money I have in the bank which was none of his business.
    Then he started picking on me when the market was going down, that ‘this service is not free but not anything in life is, you have to pay for my service mate’! he said.
    He started to crap on about me living with my father that I caregiver for, not having my own home and not having a family or wife etc.. and bullying me what have I got to lose, what are you frightened of etc… This Broker was a intimidating and a bully!
    I wanted to hang up the phone and immediately I wanted my money refunded back. The Broker said ‘Do it yourself’and hanged up.
    There’s no way that I can refund my money even I have still $125.25USD on their account.
    I will and tell anybody that does business with TDS Capital Group! Don’t do buisness with this company because they operate from the Dominion Republic, a Caribbean country and they want you to put more and more money in eventually and you’re the one who will be coming out with nothing!

    1. hi Neil
      what is your current situation with TDS have you been able to recoupe your funds ?

  3. I have just deposited £1000 into tds my broker said he would match my money as a loan and he would do the trading for me everyday which he takes profits of the trades he makes. In 2 days he has made £300 more into my account. After reading these comments I am now very worried and don’t know what to do.

  4. This company is a scam, they have cheated me of all my savings. I was foolish to download anydesk and let them access my bank account after I have login. They transfer all my saving and took a credit card transfer from my credit card limit into the trading account and refused to close the account and withdraw n=my money. I am now in debts because of them No one should allow them to have access to your bank account and to transfer more money when requested by them.

    1. I have contacted action fraud and my bank they are going to look into getting my money back but am doubtful. Please also report it.

  5. I put in $250, then $1000, then $5000. Made like $4000. But the widthdrawal process is still pending. I’ve called and gotten to a lady who says she will contact my broker. But then I hear no such thing. They did however refund me my $250 deposit. But as to the remaing amount, well, it’s just sitting there in my balance. I have emailed many times, and will continue to call each day. I foolishly deposited using a bitcoin transfer. But my initial $250 deposited I did via VISA card, which they charged back to me.

  6. This is not a trustworthy company. After investing $250 a “senior trader” called me and went through some trades with me over the phone, made some money about $40. After a couple of days the “senior trader” said i need to invest more money, when i said I couldnt do that, he said he couldnt trade my account anymore as it was too small and i would be put on their computerised trade system. I stupidly agreed and after a few days my account went down to about $90. Tried to contact them to close the account and get the little i had left back but, they didnt contact me, kept on sending me emails saying my account was getting too low and i need to put more money in. Dont make the same mistake i made and invest in this bogus company.

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