Beware! Try Win Traders 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.
Try Win Traders seems like one of those brokers that has put the least amount of effort, but it has been smart enough to choose smart elements while leaving some more suspicious ones deeper into its website. This means that Try Win Traders is very dangerous, as such smart scammers tend to be. They have probably had past experience with previous brokers, some of which we probably have reviewed, and it’s this experience that is well expressed into most of its entity. The following review digs deep enough to uncover the true nature of Try Win Traders. Please read it before investing!
The actual registration process is very easy to go through and is a breeze. However, we were never fully admitted to the user interface of the broker because Try Win Traders did not verify our account. And it never will. We have no other choice but to quote the website on all trading conditions. Beware that shady brokers are, most of the time, liars.
Try Win Traders’s 1500+ tradeable assets are categorized into forex currency pairs, indices, commodities, and cryptocurrencies. There are no spread tables – belonging to the broker that is, there are many third party ones. The minimum spread is said to be 0.1 pip, with a maximum leverage of 1:500 to go with it. There is a 0.05% commission per lot, but this is not that much. Low spreads are usually soliciting devices used by scammer brokers. So, we won’t put our trust in it if we were you.
The website of the broker is available in English. Although it claims to offer its services in over ten languages, none of them actually work; a clear showcase of a lack of professionalism.
TRY WIN TRADERS REGULATION AND SAFETY OF FUNDS
In typical offshore brokerage fashion, the broker has issues a company address in Saint Vincent and the Grenadines. For those not familiar with this nation, and we won’t be surprised if there are many of you who have never heard of it- even though it is notorious- Saint Vincent and the Grenadines does not have an FX license issuer. All brokers registered there are NOT licensed! Try Win Traders might very well be registered in the small islands nation, but it is definitely not regulated there.
Try Win Traders is not licensed and is not worth the risk. The firm is also a scam.
It’s easy to check for a license. Just visit the regulator that supports the brokers, or the one that is allegedly licensing the broker, and check its online registered for the name of the company. All Any UK, EU, US, or Aussie-regulated are superb in their own right, although many different, and the user should go first see which one serves her/his needs best. This is the main responsibility of the user. Everything else is covered by the overseer. They abide by legislation, and in turn, all regulated brokers are tightly scrutinized and regularly checked. All such entities follow strict operational guidelines that put the user and her safety as a top priority. It’s also good to know that the UK and CySEC offer client compensation funds that reimburse users of FCA/CySEC-regulated brokers that have gone into insolvency for one reason or another. The FCA guarantees up to £85 000, while CySEC guarantees up to €20 000 per person.
TRY WIN TRADERS TRADING SOFTWARE
Try Win Trader’s platform offers a standalone desktop trading software that we were hesitant with, since such traders are often a risk to systems. But we can say that there is an available trading software.
Even if we did open it, we would still not be able to access it because we never got any login credentials.
TRY WIN TRADERS DEPOSIT/WITHDRAW METHODS AND FEES
There isn’t a ton of available payment details. What we do have, is after all not really trustworthy.
The alleged payment methods and credit cards, debit cards, e-wallets, and wire transfers. Card deposits are charged a 2% fee, while e-wallets transfers are commissioned with fees ranging from 1% to 2%.
Strangely enough, we traced no minimum deposit info.
Withdrawals that are less than $50 will be charged with a fixed $30 fee. That’s all the payment info we could muster.
By the end, Try Win Traders should be seen as yet another unregulated broker that will soon disappear. It is a risk and a scam! Do not invest in it!
HOW DOES THE SCAM WORK
It still, and always will boggle us how investment scams can be so effective considering how easy they are to dissect and explain.
The crucial moment with any investment scam is the online ads that have been fashioned by the fraudsters. Ads that promise ridiculous luxury items and services are right about it. The more ludicrous it sounds and looks, the bigger the lie.
Of course, there are other ways to stumble on these sources, but ads seem to be the most effective way.
These ads lead to investment websites that seem good at first but are actually just illusions. Their main goal is to attract the user and manipulate him into investing. It’s not too difficult a thing to do- usually, this happens over the phone with a rep of the broker and the user talking for some time, with the rep finally convincing the client to invest an initial sum.
The first investment is the gateway to the scam. Once the first payment has gone through, the user is trapped, because now he or she must look over the investment. Now moves in the expert scammer, those that will leech from you as much money as they can possibly take. Until the user has been alarmed and is aware of the scam.
When this happens, it’s usually too late. The user won’t be able to withdraw or will have a very difficult time doing so.
WHAT TO DO IF SCAMMED
A credit card or debit card chargeback is the safest move. MasterCard and VISA have a chargeback period of 540 days.
Bank transfer funds are harder to recuperate, although not impossible. First, the user should change his bank account user name and password, and then directly contact his bank in order o find a solution together to the stolen funds problem.
All crypto deposits are lost, and the only way to see them back is if the scammers are suddenly hit by a wave of redemption, and pay the client back. This rarely, if ever, happens.
Finally, please do not trust recovery agents or agencies, who are complete scammers in their own right and will take more money from you. They claim to offer ways of retrieving the lost money but will ask for a service fee before conducting this seemingly impossible venture. After a while, the user will realize that the money paid to these has also been lost.