Tradingexpo review – 5 things you should know about tradingexpo.net

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

RECOMMENDED FOREX BROKERS

Visit Site

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

Tradingexpo’s website does not provide us with any evidence that it is indeed the legitimate forex broker it claims to be. Careful inspection leaves only one possible conclusion – that the purpose of this anonymous website is to scam people who lack the necessary experience and knowledge of the financial markets.

Tradingexpo Regulation and safety of funds

If a financial services provider is legitimate, you will find on its website clear and detailed information about the company that owns and operates it, where it is based, and what licences it has. Genuine brokers also provide access to a comprehensive set of legal documentation.

The availability of such information does not guarantee that it is not false or misleading. But the absence of these elements is very indicative that in all likelihood you are dealing with scammers.

As has already been pointed out, Tradingexpo is completely anonymous, which is a big enough red flag that we’re dealing with a fraud.

The only method of communication is email, and the website does not provide access to Terms and Conditions or Customer Agreement. If you don’t know exactly who you’re dealing with and what terms you’re agreeing to, it would be very unwise to put your money on the line.

Our suspicions about this website have been confirmed by local financial authorities in Canada who have blacklisted Tradingexpo.

If you intend to invest in financial instruments, you should beware of the many fake brokers lurking online. Always check carefully whether the broker you choose really has the necessary licences.

There are numerous benefits to working with a company that is truly authorised and supervised by a regulatory institution such as the UK’s Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Commodity Futures Trading Commission (CFTC) in US or Australian Securities and Exchanges Commission (ASIC). Clients of these brokers receive protections such as negative balance protection and segregation of the client’s funds from the broker’s funds.

In the EU and the UK, brokers must also participate in guarantee schemes that cover a certain amount of the trader’s investment if the broker becomes insolvent. These guarantees amount to up to 20 000 EUR in the EU and 85 000 GBP in the UK. However, the likelihood of such a bankruptcy is low because regulators also have significant net capital requirements that companies must maintain – EUR 730 000 in UK and Cyprus, AUD 1000 000 in Australia and at least 20 million USD in the United States.

Tradingexpo Trading software

Signing up for an account gives us access to a web-based platform that doesn’t impress with advanced functionality. Here is what it looks like:

While this platform has the basic functionality to place orders, it cannot compare to the capabilities provided by MetaTrader 4 (MT4) and MetaTrader 5 (MT5). It is no coincidence that these platforms have established themselves as the industry standard. They offer a wide range of features, including a variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.

It should be noted that the presence of a trading platform does not make this website any more legitimate and does not guarantee that this alleged broker offers real trading. Many scammers use rigged trading software to fool their victims that their money is being invested.

Tradingexpo Trading instruments

Tradingexpo claims to offer trading in over 500 financial instruments across all asset classes. But we have no reason to believe this trading is real.

Tradingexpo Spreads and cost of trading

Tradingexpo promises a spread of 1.5 pips, which is comparable to industry averages. But there are plenty of licensed brokers offering much more competitive terms to traders.

Tradingexpo Maximum leverage

Tradingexpo states that it offers a maximum leverage of up to 1:500.

This is not a level that you see with regulated brokers. Trading with high leverage allows higher profits, but also increases the risk of sudden and excessive losses proportionally. All leading regulators limit leverage for retail traders.

In the EU, UK and Australia the maximum permitted level is 1:30 and in the US it is 1:50. This maximum level only applies to trading major currency pairs, with even more limited leverage for more volatile assets.

Tradingexpo also promises bonuses, another practice banned by most financial regulators.

Scammers often use promises of supposedly generous bonuses to tie their potential victims to extortionate terms. Tradingexpo does not provide clear information about the conditions attached to bonuses.

If you are nevertheless willing to take the risk of high-leverage trading and want to take advantage of bonuses, promotions and prize games, the best option is to use the services of offshore brokers operating under an established brand.

Tradingexpo Deposit and withdrawal methods

The Tradingexpo website promises a wide range of conventional payment methods, but on the deposit menu the only option is the dubious payment processor Paypound. We have seen this method used only by shady brokers.

Legitimate brokers typically offer clients a wide choice of transparent payment methods, including bank transfer, credit/debit cards and established e-wallets such as Skrill, Neteller or GiroPay.

Tradingexpo does not provide any information regarding transaction fees, but you should always expect high hidden fees and other unpleasant surprises with such scams.

Tradingexpo Minimum deposit

Tradingexpo’s deposit menu allows a minimum amount of 200 USD. For such an amount you could start using the services of almost any licensed broker in the world. Most of the established brands offer beginner investors Micro accounts with a very low minimum deposit.

Tradingexpo Withdrawal requirements

The lack of a publicly available Terms and Conditions or Client Agreement means that scammers may have set many traps such as hidden fees and impossible-to-meet  withdrawal terms.