TradingandCo.fm review – 5 things you should know about tradingandco.fm

TradingandCo.fm review – 5 things you should know about tradingandco.fm

Rating: 1

Beware! TradingandCo.fm is an offshore broker! Your investment may be at risk.

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Some unlicensed brokers are naturally gifted fraudsters, a trait best reflected in their scheming website disguised as investment opportunities. TradingandCo.fm, or Trading&Co, is a great example of this, because if follows rules set by its contemporaries, and follows them right. In no way are we applauding TradingandCo.fm; this is first and foremost a warning of how this broker can use its charming looks as bait. The following review will deconstruct the firm and will answer all your question concerning its legitimacy.

Creating an account was too easy – a sign that the company accepts anyone – while the user area, although decent, did not reflect the professionalism that we come to expect from legit brokers.

We opened an MT4 based trading software, and it was indicated that clients can trade with forex currency pairs, futures, cryptocurrencies, and shares. The EUR/USD cost of trade was indicated as 2.5 pips – not really favorable to traders – while the leverage is capped at 1:100.

TradingandCo.fm is accessible in English and Russian.

TRADINGANDCO.FM REGULATION AND SAFETY OF FUNDS

The broker suggests that it is located in Ireland, where the Central Bank of Ireland is responsible for all the regulating of markets. Yet, we found proof that the bank does not, in ay way, license this broker. If the broker is based in Ireland, it is therefore illegally soliciting users.

The main thing however is the assertion that TradingandCo.fm is licensed by the Global Financial Authority. Yet, the Global Financial Authority is actually a morsel of a new trend that has taken the FX world by storm almost overnight. This trend was birthed when a couple of fake regulators worked out the benefits of creating their own self-regulated firms, or vice versa, and in so doing creating a licensing chain that many users can easily fall for. We view this as a natural evolution of the scammer broker community.

Therefore, the company is not licensed by this fake agency, and is actually not licensed in general. It is a risk to all invested capital.

Unregulated brokers are digital thieves. These entities will not return your funds and will continue to harass you! Best to avoid them. One way to do that is to check the site for a license. It should be easy to locate one, and if you don’t find it do not waste your time with the broker. We personally recommend any  UKEUUS, or Aussie-licensed broker. These are all legitimized by some of the best regulators and are constantly on the watch, never seizing or failing to follow the strict rules and guidelines. Moreover, the FCA and CySEC both offer compensation schemes that are there to reimburse users in case the broker becomes insolvent. The FCA guarantees up to £85 000, while CySEC guarantees up to €20 000 per person.

TRADINGANDCO.FM TRADING SOFTWARE

The MT4 and MT5 are both available here, and we can say that their presence is by far the best part of this broker.

Both platforms are superb, and are the best in the industry, offering countless opportunities to users, who can apply and expand their FX knowledge. Unfortunately, the mere presence of both these software is not enough to buy-out the broker’s shame.

However, we must note that we opened the broker-owned MT4 web trader however the server names were different than the name of the reviewee (check the upper right corner of the snip). And so we believe that user will be trading with a different server. What this actually means is that users are, technically, trading with unrelated trading conditions- not offered by TradingandCo.fm. If this is not a sign that the company is a liar, we don’t know what is.

TRADINGANDCO.FM DEPOSIT/WITHDRAW METHODS AND FEES

This is what we found out in the user area. The minimum deposit is $50 and the payment method is a crypto wallet. Actually, clients, the way they deposit, is by sending a BTC amount to a crypto exchange, out of a big list of ones. There is no proof that said money will be reflected afterwards into the user account.

Withdrawal details are all taken from the site. There is a 4% fee on all withdrawals, and that’s all we get in terms of withdrawal details.

Everything about TradingandCo.fm seems like it was not even considered before launching the website. Users will lose money here, and will not get it back. Do not waste your time with this broker.

HOW DOES THE SCAM WORK

One thing to always keep in mind is that the broker will always try to push the user to create an account. Through this process, the broker tries to take contact information about the user so that it can use it to directly contact the user.

Creating a liaison between user and broker is the first step, and a very important one. The perps will continuously be contacting the user and trying to convince him or her to invest, even the lowest amount. The trick here is that once an initial deposit is made, there is birthing of an artificial trust between the two parties that will serve the broker much more than the user.

Because the client has already invested once, he or she will be more motivated to do for a second time. The broker may bring in some false proof of profit while at the same time pushing for more investments. It’s a self-sustaining model of operation and is very effective. Many users will be compelled to deposit.

However, at some point these users will want to see more than proof of profit; they will require actual withdrawals. It’s at this stage the scammers reveal themselves as the fraudsters they are and will do everything in their power to cancel withdrawal requests. This includes but is not limited to staling requests, closing accounts, and even shutting entire websites.

WHAT TO DO WHEN SCAMMED

Credit card or debit card users will have to file for a chargeback. It’s the safest way to get your money back, although it is not guaranteed. Clients should call their credit/debit card companies. VISA and MasterCard have extended their cash-back period to 540 days.

Wire transfer frauds are harder to get by, yet there is still hope. First of all though, users should immediately change their bank account user names and passwords. And then, they should contact the bank to try to find a way to get reimbursed.

BTC investments are untraceable and are therefore lost. The only way to get your BTC, or crypto, investments back is if the scammers return it themselves.

Don’t pay these so-called recovery agents or agencies who promise users to get their money back using a number of questionable methods. These are pure scams of their own!

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