Tradelly.Ai review – 5 things you should know about tradelly.ai

Beware! Tradelly.Ai 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.

Tradelly.Ai states that it should be our first choice of investment intermediary through which to trade in the financial markets. But closer inspection shows conclusively that Tradelly.Ai should not even be our last choice. This anonymous website is not the regulated broker it claims to be. It is a typical online scam targeting people without enough experience in this field. In this review we will show you how to distinguish such scams from credible forex brokers.

Tradelly.Ai Regulation and safety of funds

The first obvious problem with Tradelly.Ai is the complete anonymity of this website. No company name is listed anywhere. Even the text of the Terms and Conditions does not mention a legal entity or specify an applicable jurisdiction.

The website lists an office address in Switzerland. Tradelly.Ai  also claims to be licensed by an institution called the Crypto Conduct Authority. But no such regulator exists. The institution that licenses and regulates brokers in Switzerland is called Swiss Financial Market Supervisory Authority (FINMA). There is no licensed broker using Tradelly.Ai ‘s trade name and domain in this regulator’s database.

Legitimate forex brokers provide clear and detailed information about the legal entity that owns and operates them, where it is based, what licences it has and which regulators oversee its activities. Lack of such details or improper presentation of them are always a red flag that we are probably dealing with a scam.

You should only trust legitimate brokers operating in one of the established financial centres like the UK, EU, USA or Australia. There, the activities of brokers are controlled by powerful regulatory bodies such as UK’s Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Commodity Futures Trading Commission (CFTC) in US or Australian Securities and Investments 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.

Tradelly.Ai Trading software

After registering an account, we get access to a pretty basic web trading platform that doesn’t feature extensive customization options or advanced functionality. We’ve seen the exact same platform being used by multiple fake brokers we’ve encountered. Scammers are using rigged trading software to fool their victims into believing that their money is really being invested and even turning a profit.

Legitimate brokers offer clients a wide selection of trading software, including desktop, mobile apps and web-based platforms. The most widely used platforms in the industry are MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms have established themselves as industry standard because 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.

Tradelly.Ai Trading instruments

The Tradelly.Ai trading software includes a large number of currency pairs, cryptocurrencies, CFDs on stocks, indices and commodities. But we have no good reason to believe that this anonymous and unregulated website offers real trading.

Tradelly.Ai Spreads and cost of trading

The account type descriptions promise an industry standard spread of 1.5 pips. But in the trading platform we see a ridiculously high spread of 23 pips. Even if Tradelly.Ai  were offering real trading, it would be extremely disadvantageous to the trader.

Tradelly.Ai Maximum leverage

Tradelly.Ai  offers leverage between 1:10 and 1:50. In most regulated jurisdictions, the maximum leverage allowed for retail customers is 1:30. Regulated brokers offer higher leverage only to professional clients who must meet very high standards for capital and experience and forgo the guarantees enjoyed by retail traders.

If you are willing to take the risk of trading with high leverage and benefit from bonuses and promotions, the best option is to invest through an offshore division of an established brand.

Tradelly.Ai Deposit and withdrawal methods

On the homepage of the website we see the logos of many popular tracking methods. But in the deposit menu itself, the only option is to enter credit/debit card details.

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

Tradelly.Ai Minimum deposit

Tradelly.Ai  requires a minimum deposit of 500 EUR. For as little as 5 EUR/USD you could open a trading account with some of the industry’s leading brands.

Tradelly.Ai Withdrawal requirements

In the Tradelly.Ai Terms and Conditions we find many clauses that are clearly fraudulent. The client cannot make withdrawals for 90 days after registration and can only make one withdrawal per month thereafter. If the account has used a bonus, it can withdraw funds after meeting the minimum trading volume requirement of 30 times the bonus amount.