Trade99 Review – 5 things you should know trade99.com

Trade99 Review – 5 things you should know trade99.com

Beware! Trade99 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.

 

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.

Rich Snippet Data
Review Date
Reviewed Broker
Trade99
Broker Rating
11stargraygraygraygray

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14 Comments

  1. 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.

    1. 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,

      1. 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.

        1. They are scammers and the chances of getting your money back is O. I got scamed for a large amount.

        2. the exact same person and scenario happened to me ): I wish I had seen your review sooner

        3. 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.

    2. Hi Poonam, Can you please confirm if you got your money back. I am in the same boat. I have invested with them.

      1. 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.

    3. 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.

  2. 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.

  3. 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?

    1. if you get your money back you are lucky i have lost my money.

  4. 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?

  5. 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

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