Beware! TrendsMacro.com 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.
What you are about to learn of TrendsMacro.com isn’t something that we have not written before concerning hundreds of other brokers. The only real difference between this broker and the thousands of others out there is just the name and the logo! Everything else is a painful reminder of the thousands of unlicensed brokers out there that we have covered. It is as if we took some random unlicensed broker we reviewed in the past 2 years, and just renamed it TrendsMacro.com. We urge users to read the review before acting on their impulses to invest.
Registering an account couldn’t have been easier, but once we enter a user area we are told that our account has to be verified, otherwise all the trading and payment options are blocked to us. Nothing really stood out in the user area anyway, but the issue here is that we have no other way of getting trading and payment information other than relying on the website. Take what we are about to say with a grain of salt because there is definitely a reason why users shouldn’t trust TrendsMacro.com with the crucial trading information.
So, from the website, we gather that TrendsMacro.com offers forex currency pairs, commodities, indices, futures, and shares. The leverage is capped at 1:400, and the average spread is 2.8 pips for the Bronze account. However, in our experience with shady brokers, this talk of accounts is a pure sham. Illicit brokers do not offer account types. We weren’t even asked to choose from one when opening an account. So the spread info is definitely vague at best. And anyway, the Accounts are crafted in such a way that users who want a spread under 2 pips, which is usually what traders want, will have to get the Gold account at $10 000!
The broker is available only in English.
TRENDSMACRO.COM REGULATION AND SAFETY OF FUNDS
The website is operated and owned by Ascana Group Ltd, making this the official holding company of TrendsMacro.com. The parent firm is allegedly located in the Marshall Islands.
Over the years, the Marshall Islands have slowly become one of the most preferred destinations for illicit brokers. A mixture of geographic placement and looser local laws has resulted in the nation being flooded by unlicensed FX brokers from all over the world. Furthermore, the nation allows businesses to incorporate online companies there without the founders even setting foo in the Marshall Islands. At most importantly, there is no local FX regulator there, meaning that TrendsMacro.com is unlicensed there!
A more subtle sign that the broker is operating without a license is the length of the legal documents, especially the terms and conditions. They are way too short to include all the important legal elements that form the basis of the relationship between the company and the user. None of the legit brokers we have written about before having less than 40 pages of T/Cs, and around 10 other legal documents. TrendsMacro.com’s terms and conditions are around 5-6 pages long!
Here’s to TrendsMacro.com, yet another UNLICENSED broker out to get traders’ money! All investment as well as personal details are at a risk here!
Investing in unregulated brokers is kissing your money goodbye. Always look for a license before investing into a brokerage, most preferably from either the FCA or CySEC, but also from other renowned agencies. These regulators have strict rules and prerequisites that all brokers must follow, or otherwise, penalties or foreclosure may follow! What’s special about the FCA and CySE said that they offer reimbursement schemes to all users of brokers that they regulate, covering their losses if the broker becomes insolvent. CySEC guarantees up to €20 000 per person, while the FCA guarantees up to £85 000.
TRENDSMACRO.COM TRADING SOFTWARE
Somehow, the broker was able to get its hands on an MT4!
The MT4 is by far the most advanced trading software one can use in today’s FX industry. Its features are way too many to count, yet we always vouch for this trading software!
TRENDSMACRO.COM DEPOSIT/WITHDRAW METHODS AND FEES
As per the website, the minimum deposit for the non-existent bronze account type is $250, which seems pretty reliable as far as a minimum deposit amount goes. Users can allegedly only deposit via a credit card, a debit one, or through bank transfer.
According to the term and conditions, the minimum withdrawal is $50 through credit card, and there is no fee attached to this specific withdrawal method. The usual processing times issue by scammer brokers is 3 to 5 days, but don’t expect to really ever see your money back! There are no details concerning the withdrawal payment methods, but we assume they are the same as the depositing ones.
Keep in mind that the payment information was taken from the website, which is a source that we do not trust. Our readers should also be skeptical because TrendsMacro.com has proven to be untrustworthy.
If a user’s margin level drops below 50%, then the broker will have the right to start shutting down opened trading positions.
If a user wishes to withdrawal a bonus amount or profit gained from trading with a bonus, then he or she must trade a minimum volume equal to the bonus amount divided by four.
As you can see, there isn’t much about TrendsMacro.com to suggest it is worth an investment. In fact, nothing on its interface gives us hope for it. Do not invest in this one, because you will be putting your money and personal details at a risk!
How does the scam work?
Online ads that seem extravagant, promising impossible returns, are the entry point into an investment scam.
When a user clicks on the ad, he or she will be redirected to one of the following: a scammer broker site or an intermediary website. The user will then be asked to provide a phone number or a phone number.
Giving in to these ads will lead to a deposit, initiated by the first level of fraudsters, whose skill as negotiators should not be underestimated. Once an initial deposit is made, the user has entered the scam.
The core fraudsters, a.k.a “account managers”, will try to keep users invested in the scam until the user does not realize he/she is being scammed. Usually, it takes around 2 to 3 deposits to realize something is off. The fraudsters might pay some profits, just to keep the client invested.
Once the client realizes she is being scammed, the broker would have either closed her account, shut down the entire website, or simply will not allow for a withdrawal.
What to do if scammed?
A credit or debit card scam is one in which users can most easily get their money back, through a chargeback procedure. MasterCard and VISA have a chargeback period of 540 days.
If the user has given the scammers money through a bank transfer then they must ASAP change bank account username and password and only then proceed to contact the bank, asking them for direct help.
Money invested through a crypto wallet is gone for good, because crypto transactions are untraceable!
Users might stumble upon these so-called recovery agents or agencies. They will say that they can recover lost funds in return for a hefty service fee. Needless to say, after the user falls for this, these agents will never be heard of ever again!