Beware! TradesCenters.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.
There is no mistaking TradesCenters.com for the illicit broker that it is. The comp[nay can claim otherwise all it wants but we are not rookies in this game, and know for a fact that this broker is not legitimate just by looking at it. And once you face the facts, you get o see the ugly side in its fullest. This is essentially what the review has done. It will showcase all shady elements, or at least the most important ones, that will deter you from investing here. Please read on.
After a very and care-free registration we were faced with a common scammer broker element, which was a limited and shady user area. There was no real effort put into making this valuable side to the broker a little less uninviting.
However, this was not the worst part. What we discovered was that TradesCenters.com did not really offer any trading platform. The fact is that there is no trading software used here, and that is one of the biggest signs that the broker is not legal.
No trading platform means that users cannot trade assets, nor can they expect to see any spreads or leverages apply. Whatever the website says, it’s fake news. There are no applicable trading assets.
TRADESCENTERS.COM REGULATION AND SAFETY OF FUNDS
The broker claims to be regulated by the MFSA, but not the one that we initially though of. Usually, the MFSA stands for Malta Financial Services Authority, but in this case it stand for something completely illogical:
Not only is the MFSA letters no consistent with the US Financial Services Authority, but there actually is no such entity in existence, or at least not anymore. The United States brokers report to the NFA and CFTC, the two most austere regulators in the industry today and to date. There is no reason to even think that TradesCenters.com is regulated by either one of them.
Meanwhile, the footer further expands the lies that TradesCenters.com us regulated. Heere, it’s by the FCA, BaFin, AMF, and CONSOB. These are some of the EU’s best regulators, and thus some of the best in the world, and we cannot see even a single scenario where they would ever consider TradesCenters.com as a potential candidate. It’s all lies on the part of the broker.
TradesCenters.com is, therefore, unregulated and a risk to all investments. Do not deposit here!
We challenge anyone to give us a reason to invest in an unregulated broker! Joke aside, there isn’t a bigger online investment risk than this. That is why it is crucial to always check the broker for a license, Make sure that the company appears in the regulator’s database, and if so, proceed. If not, make sure no move to the next broker.
Any UK, EU, US, or Aussie regulated broker will do, and there are also a heap of offshore regulators as well as international ones that do a great job. The choices are limitless, and there is no reason to lose hope if you happen on an unlucky streak of unlicensed brokers. Regulated brokers keep their promises of safety and fairness without compromising on the excitement of trading. Furthermore, the FCA and CySEC are famous for including compensation schemes with all their regulated brokers, plans that aid users at times when their brokers cannot pay its users back. The FCA guarantees up to £85 000, while CySEC guarantees up to €20 000 per person.
TRADESCENTERS.COM TRADING SOFTWARE
There is an alleged MT5 promoted on the website, but no link exists to make the claim believable. The user area has no connection to the MT6, and thus we can safely say that there is no MT5 available anywhere.
In the user area we find that the broker has included solely a bunch of useless third party charts. These serve referential purposes and are not stand-alone trading softwares. Dues to their likeness of trading softwares they are widely used by scammer brokers to lie to users.
TRADESCENTERS.COM DEPOSIT/WITHDRAW METHODS AND FEES
According to the user area the only way to invest is by means of a very shady BTC wallet. Usually there is no minimum deposit when investing with a crypto wallet, although the website of the broker states the minimum to be $500. And remember that all crypto payments are untraceable, so essentially users are not funding their account but the broker.
We entered the withdrawal area, and what we found is that users can only submit a request. It happens by writing a withdrawal amount and clicking on the “submit” button, and after that the broker tells us that the request is pending. There is no choice of payment method, and no actual proof that the request is being looked over.
Overall, scammer elements all over the place. Stay away from TradesCenters.com, for it is a risk to you!
HOW DOES THE SCAM WORK
Investments schemes rely heavily on online ads to help them progress and perpetuate their scams. Online ads allow for the creation of an illusory lifestyle that seems a few clicks away, whereas is reality such forged dreams are granted to a lucky few out there.
Entering the scammer brokerage website is like entering a candy store, where the candy actually tastes bad, and it leaves you with bad gums. These scammers will take all your money- as much as you give them. This happens by them contacting the user and soliciting him or her for deposits. The charming overtones are a must and the lies are endlessly delicious. They won’t let you put the phone down until an investment has been made, and they will go through their entire arsenal of lies and deceits to do so!
Investing for the first time is a thrill, and the broker will make sure that the feeling lasts so long as the user invests at least once more. The job of the retainers- those expert scammers- is to keep the client invested in the scam, financially, as long as possible. Again, the bag of tricks is full! They might even pay you back some just to create a false impression of a professional liaison. Scammers never lose sight of their goal- draining as much cash as possible from its invested users!
The point will come when the user will want to spend all that suspiciously easy-acquired money. Of course all withdrawal attempts will be futile, but there is nonetheless an ironic appeal to the ways in which scammer brokers lie their way through every canceled withdrawal request. Some brokers even might shut the entire website down, if they have felt that their financial goals are reached.
WHAT TO DO IF SCAMMED
Chargebacks are technically the most secure way of retrieving your funds, although many scammer brokers take precautionary actions to prevent these. However, it does not hurt to try! MasterCard and VISA have a chargeback period of 540 days.
Bank transfer frauds are harder to get around, and the only advice we can give you is to contact your bank and talk to them. Oh, and don’t forget to change your bank account user name and password.
All investments made by a crypto wallet can only be recovered if the fraudsters feel generous, which has not been observed.
There are also these ambiguous figures that will promise to track and bring your money back using some undisclosed tricks and techniques. Many desperate users trust these recovery agents enough to pay them an advance fee. Then these agents disappear with your money, leaving you even more financially hurt.
