Beware! Trade99 is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Trade99 presents itself as a forex and CFD broker, offering over 190 tradable assets with four account types and the MetaTrader5 platform. Unfortunately we were not able to find any information about their trading conditions on their homepage, and as we were not able to open a demo account either, we can not comment on their spreads.
This however, is not our main issue with Trade99, but the fact that they are virtually anonymous offshore broker, which is not regulated by a reliable financial watchdog.
Trade99 regulation & safety of funds
Trade99, which operates under two domain addresses – trade99.com and trade99.io, is owned and operated by Nohelious International Marketing Operations Ltd., a company based offshore in Dominica. All payments however are processed by another company – Clear Transfer Technologies Ltd, which is said to be based in Estonia.
And although the broker claims to be regulated by an entity called “The Financial Commission”, bear in mind that this is not an official financial regulator such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investment Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC) – probably the three most popular financial watchdogs in the industry – but just an anonymous website trying to give legitimacy to unregulated, offshore brokers like Trade99, most probably involved in scam.
Trade99 deposit/withdrawal methods and fees
Although the logos of Neteller and Skrill are present on Trade99 homepage, when we proceeded with our registration it turned out Trade99 accepts payments only with bank wire, credit cards like VISA and MasterCard, and bitcoins. The absence of Skrill is notable, because of the new anti scam policy adopted by the company. According it Skrill partners only with licensed brokers and as we already discussed Trade99 does not have a legit license.
And be ware of the trading bonuses Trade99 may offer you as they come with some strings attached. According to their Terms and Conditions, which one may check at https://www.trade99.com/assets/docs/Trade99_Credit_Terms.pdf (the link is not directly visible on Trade99), if you accept a bonus you will not be able to request a withdraw until you reach a certain minimum trade volume requirement – you will have to trade at least 25 million USD for every 1000 USD accepted as a bonus.
And what is worse, Trade99 reserve the right to change their bonus policy whenever they wish, so basically this is a recipe for a scam. See for yourself:
Otherwise the minimum deposit requirement of 250 USD is in line with what most other brokers will also require.
How does the scam work?
Contrary to what you may think scam operations are well organized and employ lots of resources, like for example call centers in places like the Philippines and promo portals like Bitcoin Profit and Brexit Trader, which we call robo scam websites, which are especially designed as traps for gullible investors.
And if you land on one of those robo scam websites, probably you will watch a nicely edited video, telling you how easily you can get rich with only a small investment with some ground breaking trading software, that will be generating profits for you wile you sit back and watch.
And some people get curious and register, leaving their e-mails and phones in the simple registration form and that is how it all starts.
After you register with the robo scam website, you will either be transferred to the web page of unregulated scam broker right away, or you will get a phone call, where you will be offered to open a trading account with such a broker. Either way initially you will be asked to deposit about 250 USD.
And at first everything will seem fine and actually it will look like you are making a lot of money. That however will all be fake. Scammers will be simply manipulating your account with the sole intention to make you deposit more. And that is exactly what your “senior account manager” will be trying to convince you as well – if you really want to get rich you will surely have to invest more – at least 10 000 USD or so.
And many people do not realize they are getting scammed and do invest that kind of money, trading happily until the day they decide to withdraw some of their funds. Than out of the blue they are told that no withdraws are allowed until they meet some minimum trade volume requirement, possibly linked to their welcoming bonus. The pretext might certainly be different, but the end result will always be the same. Scammers will not be giving you any money back.
What to do if scammed?
If you are a victim of a scam you have one viable option to recover your deposit and that is to file for a charge back with you credit card provider. The good news here is that currently both VISA and MasterCard will allow you to do that within 540 days.
And if somehow scammers have gotten to your personal banking details like your credit card number and online banking password immediately change the password and cancel your credit card.
Finally do not be fooled by the offers of the so called recovery agencies. Those guys will not be helping you in any way, but will simply charge you some fees in advance, in practice leaving you even deeper into the red.
Poonam Thapa
Hello! i put my money in Trade 99 yesterday i didnot know they scam until i read their reviews how to get my money back now.
Melissa Steele
Hi Poonam,
i am in the same boat as you with Trade99.
I was wondering how the outcome turned out?
Are they a scam or can we trust them?
thank you,
Poonam
I requested trade 99 several times to withdraw my money which i invested but they never listen i contacted them almost one month i even got $300 phone call charge when i called trade99 customer service. and later one of the manager his name is Pratik he called me several times and forced me to invest more money i told him many times i don’t have extra money help me to withdraw my money which i deposited before but he told me to invest more money and get profit then withdraw all my money together which i did and now there is nothing to withdraw i lost all my money. After i invested more money i was losing money i told him many times i am losing money he was least bother kept on saying to me leave it don’t worry he will take care of it until i lost all my money he didn’t do anything.So be careful before invest more money.They will call many times until deposit more money.i am very depressed and due to over stress i am not feeling well, that money i was saving to buy a car. This is my Genuine feedback for Trade99. And i strongly advised to Trade99 please don’t force and lie people and take money for free when people are having financial difficulties. stop playing with innocent people’s emotions. Trade 99 is a scam for sure.
Reuben Morgan
They are scammers and the chances of getting your money back is O. I got scamed for a large amount.
Steven Gurton
These Trade99 BS scammers are ruining people’s lives!!
M
the exact same person and scenario happened to me ): I wish I had seen your review sooner
Steven Gurton
Same here!!!
Karthu
They are located in the Philippines. They are calling you directly at 15th floor, Twenty Five Seven Building, 7th Ave., Bonifacio Global City, Metro Manila, Philippines. The real name of the company where trade99 operates is Pointed Arrow.
José Antonio
Can someone tell me if they are the same as those used with AnalystQ?
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Alguien sabria decirme si son los mismos que operan con AnalystQ?
amratlal
Hi Poona i wish i should have read the review or checked the firm out, as i was contacted by this friendly PRATIK who made me pay initially £250 to join and says this is for registration and not enough to do the trading, i have to put more funds of at least £4500 and as i did and was very cunningly saying its trading nicely and making profit and later came up with BITCOIN are going up and buying one or two will give you more value,ok i was again pestered with it and forced me to buy one and i did with credit card and said i can withdraw it by december 2019 after i have it for a month it would have gone up as i tried to withdraw, PATRIK had gone sick in hospital SAM the bullion asking to fund more but declined and he put the phone down on me and as i reported him to the trade99 customer service another manager MARRIE took over and i asked to withdraw and said its not doing well at that time should wait for few weeks as i was getting to go abroad to india, as i told her to look after my trade and my funds, on return from india i contacted her but my emails were not getting answered, and initially another manager came on said he has taken over and there are no funds in account only $75. Then i told him about my initially payment and the buying of one bitcoin where is all my bitcoin and rest of my money, he said i don’t know but will check and never herd from him. i am again contacted by senior manager of trade99 and has said my account has $75 init but my account from £8500 went up to £1500 and all money is gone is now investigating.i am still waiting for reply, and if no reply comes am going to my bank credit card dept for to complain as i paid all my funding through to them.
Poonam
Hello Amratlal there is no chance of getting your money back now we all lost our money. Everyone should research first and then invest money. Now one of their manager is calling me to invest more money how could they take other people hard earned money like this shame on this Trade99. We all are victims of trade99. I never get my money back. I hope god will forgive them for taking innocent people’s money. I tried to log in today their website is temporarily closed I saw before I still have $800 in the system but I invested more than $800 I asked them to withdraw that money but no one is replying me. Even the bank may not help you because we transferred money with our consent I tried that I didn’t get help from the bank. That’s what they said first one manager will call you and then that manager will get sick and another manager will take over they did the same thing to me. I am very sorry about your loss it’s a lot of money. If you get your money back I will be very happy but mine I haven’t got back yet.
Sean
I’ve been scammed just like this page describes , I feel like shit …
Nish
Hi Poonam, Can you please confirm if you got your money back. I am in the same boat. I have invested with them.
Poonam
No i did not get my money back i lost all my money hope you will get yours. Don’t trust this trade99. I have very bad experience with them. i am very stress and in trauma after i lost my money.
Steven Gurton
Hi Poonam..
Feel your pain mate. Same happened to me, absolutely sucks hey!!!
pablo
Can’t we take these sxammers to caught i got scammed by a person named floren who says he works for clear transfer technologies and I when I found out who they where I immediately phone my bank because like idiot I paid through Internet bank tranfer I feel so depressed lost £2000 can we claim compensation or take these scums to court
Reuben Morgan
Yes they scam all over the world I love in Australia.You need to get on to scamwatch or get legal advice from your government.
Myklovenotwar
Thanks for this review. I signed up to trade 99 and put about 10cents worth of Bitcoin in through the “crypto cash” robobot website. I was lured in with a pretty legit seeming article featuring George Strombolopolis and Jim Pattison. I was a bit wary and even more so when I got the pushy sales call telling me I needed to put in about five hundred.
He hasn’t responded to my emails linking this story. I trust it’s pure scam.
Robert Jansen
I just opened an acct with trade99.com and they take acct fees straight away is that normal or have I been scammed before I even start and can I get my full deposit back?
Poonam
if you get your money back you are lucky i have lost my money.
Nish
Did you get ANY of your money back Poonam? They are saying they have processed my refund and i am still waiting. It has been two weeks since they processed a refund back to my card. I am just wondering if they are stalling or should i go to the bank and dispute these transactions?
Savannah
Hi poonam
If your from austrilia report them to Austrilian Securities and Investment Commission (ASIC) asic.gov.au
For UK its Financial Conduct Authority (FCA) fca.org.uk
As you can see they are scammers. They are not licensed broker. They are not based in hongkong but in the philippines
Wally
In my case, they said they were from Hong Kong, but they are actually owned by a company in Dominica.
Brian
The same for me I invested and lost it all . Appear to be very interested in making lots of profit for you (at first it looks like they are working well)and ask all the time to invest more to make more – what a joke! I told the broker I could not invest any more. His “senior” telephoned me to tell me to use my credit card. “No way” I said I was maxed out. Next I was told to see my bank and take out a large loan “the interest would be nothing compared to the profit my investment would make” I was told. No I would not do that! Guess what? my Investments suddenly fell to near zero. still I was hounded to invest more to “save” my account. Anyway as you might expect nothing left in my account. I should have read (and believed) these reviews. I think the “good” reviews are fake.
Bassam
thank you all for the advices
i have been getting phone calls from trade99 encouraging me to purchase Bitcoin…
i got a bit suspicious and did some research that ended up on this page
thank you all for clear warnings
Anthony McClure
To the previous posters.
Thank you.
I too nearly got sucked in. Fortunately I was very suspicious when I received a call minutes after submitting my Tel num & email address. I got to the point where they wanted a deposit, I politely told them I would not be depositing any money until I had done some research. Having come across this page, I won’t be parting with any cash.
Again, thank you to those who have posted warnings.
Keep safe all.
Ant
David Alexander Tate
I have just invested £300 into trade have i made a serious mistake.
Casey Mackenzie
All scammers out there….don’t part with any money until you do research
Woods
Avoid Avoid reckon they can make u loads of money then want u to invest more money can’t seem to get money out I had a small profit in account they keep investing and it’s going down even when I told them to stop very pushy to get u to invest hope this helps I don’t trust em so not should you
Steven Gurton
Absolute 100% bunch of scammers
Absolute 100% bunch of scammers. Get you to open up account, tell you don’t worry if you haven’t got any experience, this automated app can make you thousands. Once I opened account, got up to about $4000 USD & went to correspond with them & never heard from any one again? Kept trying contact for over 2-3 weeks & then had a phone call from a Trade 99 Recovery rep apologising to me about losing all my money & asking to put more money in my account. It’s not the money it’s the lack of correspondence & absolute BS they spun. If you don’t want to be scammed, STAY AWAY FROM TRADE 99 – CAN’T SAY IT ENOUGH!!!!
James Howard
It seems that their methods are very successful!! I was taken in by the original investment is only $ 250.00 and they will add another $ 250.00 to your new account. I invested the original $ 250.00 and initially the trades were very successful although the additional $ 250 never was credited!!! Then the soft sell started you must put more money for better results foolishly I added another $ 2,500.00 to the account and again it seemed to be doing very well. At this stage the guy Sam, who had been my account manager was ” taken ill ” and another account manager took over and was starting to trade on my account without any consultation or approval. This new guy was a disaster my 3 year old son would have done better!!! He started trading commodities and obscure cryptos of making 2 trades for and against currencies at the same time so that the best that you could do was stay square!!! Of course my account balance fell to ZERO! At this stage I complained and another account manager took over and immediately started the soft sell again, she accepted that Trade99 were responsible for the losses but if I put more money into the account they could recover the losses and we could make a profit. Now came the hammer blow they could purchase for me OTC a Bitcoin at $ 5,000.00 ( it was currently at around $ 7,000.00 ) once the purchase was completed I could immediately cash in and regain most of my losses!!! The Bitcoin was purchased but the price immediately fell, don’t worry we can trade out of this mess. To be fair the account did begin to recover so I decided to make a withdrawal to test the veracity. I got nothing but a run around and eventually managed to speak with the Accounting Manager who promised to look into the matter and would see that the withdrawal was processed. At this stage by magic my original account manager reappeared he told me that the money had been sent to my account it has never arrived and he does not answer my Emails or call anymore my account has been closed on the trading platform and it is as if I have never existed
James Howard
These guys are 100% scammers and are very good at it, the trading platform is very convincing but the tenuous links to eastern Europe should warn you to be careful. It is incredibly difficult to actually get money into their system and impossible to get it out!!! BEWARE!!!!
M. A. Nawaz
Hi, anyone recover the money because I am in the same boat. I lost £1000.00. I spoke to my bank and they said you have to speak to Clear Transfer Company, I am trying to find out their contact number, I will update here what is happened.
R.P Pelka
I am also victim of this scam company and advice everybody not to get in any contact with them.
If someone is interested here is the link of the correspondence I had with their so called Customer Support.
https://we.tl/b-FbBkcfVjcJ
If you read it you will know more how they act
amratlal
HI, what are the chances of getting my bank to get my funds back from this scam trade99 firm as paid all my £8500 by credit card. Please can some one give me any other way to get my funds as this firm is a scam as per above reviews. Thanks
Peter Davis
If you paid with credit card you can get your money back
Kim
Harold Matthews provided an independent review in February 2020 as good as his report has been issued and paints a positive expectation of Trade99
This all proved very good initially, with assistance from the platform team, encouraging more investment with apparently good results, with daily update and news of planned investment
However once the final investment was achieved as agreed with major profits due to the increase in BTCUSD within my account, with the account showing very positive position
Valentine and Dima my appointed platform managers removed all the funds within my account 55562 and stated this was for safety as BTCUSD was about to make a major drop in value and that transfer of the monies within the account would be sent directly to my UK Natwest Bank or a Ledger Nano as sent to my home address from Trade99
In fact the BTCUS went from $14,400 per BTC to $18600 per BTC
This major increase was not answered and all contact with Valentine and Dima has now been ignored, with no contact or transfer of monies being completed
I have requested clarity of the status of my account and were the funds from the investment are held, but without any confirmation
At this time I believe that Trade99, Valentine and Dima have stolen my investment and all monies within my trading account 55562
Roy Summner
I was scammed last Christmas 2019 lost £1500 Pratik was the scammer and 2 more who tried to force me to give my card details one was really aggressive and repeatedly ask me for my card cdetails i refused when i realised they was scamming me I couldn’t even get my profit out which was £1800 it was blocked after i tried to withdraw. they are all shysters and fraudsters
who tell you how much money they are going to make you, then block your account and changed the password so I couldn’t get back in. this money was to bring my wife to england I was out of work at the time and desperate to make some money for our flights