The Website that the broker trade.com provides is very much complicated. None of the information is relatable. When we tried to look for types of account the broker offers, we were left with choices to choose how we wanted to trade. When a novice trader trie toa cees the website, he does not really know all these things. Instead of clearly explaining what trading is like and hat are the account types, the scam broker tries to boast about the market and its knowledge by introducing lesser-known instruments.
Account types:
The broker nowhere explains the account type it has. Instead of putting out in the picture, the broker puts them behind it. The account types are overshadowed by things like CFDs and spread betting.
Spread betting is very dangerous to conduct, and less than three countries worldwide allow it. The broker scams so much that it provides a different account for the traders to spread bet. This is a trick to lure in new traders who are unaware by the nuances of trading. By handing out options like trading options on futures and ETFs, the broker makes sure that more money can be taken out of the trader’s hand.
The broker allows a DMA account. Such accounts are fairly less flexible than the rest. The broker negatively plays with the technology and makes the maximum prices out of OTC and DMA markets.
The trader has to pay more and more as he tries to diversify his trades.
Each account the broker has several other accounts inside it, and it gets really to distinguish between them. The novice will not at all understand what the broker is trying to say.
Trade.com : Scam/Safe
The broker is a complete scam because as we see it, it has a lot to guide and very less to show. The broke is a scam because, with so many claims about exciting offers, which re nowhere to be seen as fact-based, the broker has very little information for each at a single place.
It is a confusing experience for a trader to visit the website. Since the broker cunningly exposes him to complex reading instruments like DMA, futures and spread betting, the trader soon gets on the way fo damaging his account and falls prey to the Con artist.
Education and research material:
The broker provides with NO education material at all. Everything, the text, the colour, the content each of them make no sense at all because so many screens display them separately at the same time. On top of it, the broker reluctantly makes sure that the trader is unaware of what is happening around the market.
We tried very hard to find any education material that we could, but everything was in vain. The broker does not even care to elaborate simple terms. There is so much for the novice to understand, and yet, the broker explains nothing.
Trading education material is a must for everyone because all of it combined can make a successful trader. Scam brokers like trader.com keep it away from traders’ reach because education poses a threat to a society of thugs and trade.com being one of them, is cautious.
Regulation:
The broker claims on one of its countless and pain-like screens that a number of regulatory authorities regulates it, but none of those screens has a shred of proof for the statement. We could not find the registration number or the licence or the attached document of any of the regulatory firms that stated that they regulate the broker.
The traders as a whole should disown such brokers because they lie on the faces and have a knife ready whenever the trader turns his back. Such scam brokers are of no use because if they can lie about the regulations part, who knows what else they’re lying about.
Scam brokers like trade.com make it very hard to look out for relevant information that a trader needs before trading properly. The broker also feels the need for adding multiple worthless screens and content material for a trader to get confused at.
Tradable Assets:
The broker claims to provide more than 10,000 tradable assets, but the whole internet is small for a single broker to show so many items and hence, taking wrongful advantage of the fact, the broker again hides most of them. The accounts that offer different trading instruments are so complex that the trader forgets what he was supposed to look for and gets lost in nothing but a mirage of lies.
The broker deliberately skips mentioning that what tradable asset is suited for what strategy. For example, cryptocurrency is a volatile market and should not be integrated with instruments like leverage and futures for starters. The scam broker makes it hard for the trader to understand such facts, thus pushing him towards trades bound to go wrong.
Commission and spreads:
The broker, in a very unsettling way, places what it wants from the trader. The spreads are asked for almost every trade, and the broker also makes commission-based trades. The scam broker also asks for the same in day trading. This news can come as bad news for day traders because profits made by swing trading, a very popular trading practice are heavily dependent on the volume of trades. The profit of each trade holds lesser importance. The broker asks for commissions, and those commissions come out of the trader’s account. Day traders should, therefore, stay away from the scam broker trades.com.
What are the disadvantages of trading with Trade.com?
Trading with Trade.com will lead to the following major disadvantages:
High charges and trading fees
Limited trading and research tools
Limited educational material
Poor user interface
Low leverage
Unclear regulation
No banking license
Poor and delayed customer service and support
Platforms:
Out of all the tradable assets, none of the assets supports the use of platforms like MT5. this platform is an updated version of the forced-upon platform, MT4. the older versions are updated because they have had some flaws in them and hence the newer version. The broker makes sure that the trader has to go through the pain of using an older version. This version has less accurate indicators, and the trades can go wrong anytime.
Final call:
The broker, as we see it is a complete scam. So many useless screens and countless content that makes no sense to the trader at all, the website is utterly confusing, and so is the business model of the broker. We suggest that the traders move their financials to more responsible brokers like HFTrading, PrimeFin, GlobalTradeATF. These brokers are for sure legitimate and have been providing their services in simpler terms. They clearly explain who they are and what the trader can expert out of them as trading partners.
