A TDS Capital review is here to help decide whether to start trading
In Forex, there’s an abundance of brokers who offer seemingly impressive trading terms and conditions, and while they manage to attract lots of clients, many of them prove to be fraudulent and manipulative. Unfortunately, the proliferation of the internet made it easy for such brokers to manipulate their clients and make them spend thousands of dollars on the services that are neither lucrative nor credible.
Now, when we are talking about Forex brokers, we don’t strictly mean the ones that only operate on the currency exchange market. The one we’re talking about, the TDS Capital FX brokerage, is a crypto broker that is also included in the Forex brokerage category. And while it deals with other asset groups, it’s still possible to measure its offerings, as well as credibility.
So, not to lose any more time, let’s begin the review and see whether TDS Capital is a fraudulent broker or a legit entity.
The website of the broker is far from basic or simplistic. The interface looks overcomplicated with deep contrasty images and unnecessary visual effects. This is why we don’t blame people who complain about the difficulty they have when navigating through the pages. And even though the services are confined under the cryptocurrency market, which is itself pretty complicated, the broker makes it even more complicated to understand many basic aspects of crypto trading.
Even though the website offers simple navigation to information about the different aspects of the services they offer, the complicated design makes it difficult to actually attain that information. From the homepage, the users will have difficulty navigating to any part of the page that might interest them. The design and the navigation tools that don’t allow easy travel from page to page allow us to believe the page was made with a lack of professionalism and the intention to mask out some unwanted flaws even in the interface. And this is reflected in the rest of their pages, as the users visit About Us, Buy Cryptocurrencies, or other sections. This makes us think that the answer to the question “Can TDS capital be trusted” seems to be no.
And even in the front page, where every the most important details are provided, that notorious design spoils everything. In this sense, we find it difficult to understand the original intentions of the broker: did it try to cover some unwanted details or is it just for the lack of professionalism? One way or another, the TDS Capital rating certainly doesn’t elevate by either of these options.
Offers and Platform
The broker has certainly set up a complex platform that is designed to invoke a sense of professionalism. However, as the previous chapter indicates, professionalism certainly doesn’t stem from the design. It is incredibly distracting with unnecessary visual effects and as a result, becomes difficult to access. So, is TDS Capital legit for its online platform? It certainly doesn’t feel that way.
Another aspect that needs attention is the SSL protection. While the broker claims that this algorithm will protect the users’ private credentials, the financial platforms that facilitate the transactions speak of something completely different. The broker only offers credit cards, bank wire, and e-wallet transactions. The weirdest thing about this is that TDS Capital is a crypto broker who doesn’t offer crypto transactions- what an irony!
Next up, the account types. TDS Capital offers five different accounts, including Basic, Bronze, Silver, Gold, and Platinum. Each of the accounts has different minimum deposit requirements, starting off from $250 for the Basic account. The broker tries to tell us that this is a great opportunity for beginner traders who want to step into the trading business. However, even the $250 deposit is high for many newcomers whose goal is to gain knowledge and experience with as few expenses as possible.
As for the actual difference between the trading accounts, there’s not much to say about it, actually. While the broker is trying to sell the idea that the higher you go the more benefits you get, the reality shows differently: there are hardly any differences between the accounts that translate into real-life trading benefits. For instance, the account manager for several months, the senior or VIP department, or SMS signals aren’t the most important nor very lucrative offers to the high-level traders. Therefore, our TDS capital opinion isn’t increased by the underwhelming account separation.
Even though the platform works with a number of the most popular exchanges in the world such as Binance, Bitfinex, Bitstamp, Poloniex, Coinbase, BITTREX, CoinPayements, Huobi, and KRAKEN, the broker still fails to offer the best – not even best, but acceptable – CFD instruments on its platform. Yet one thing to mention for the credit of the broker is that it doesn’t take it up to itself to trade cryptocurrencies; the above-mentioned platforms provide that service for the customers, while TDS Capital offers Contracts for Difference (CFDs).
We would like to repeat that TDS capital FX broker services are not available, and if the website claims otherwise, it is simply lying to you. This is why you should be aware if any iteration of the website offers Forex trading and try to stay away from imitators, as you might end up losing money as a result of dealing with them.
Another downside of the broker is that the platform does not offer ICO release and trading. Some crypto brokers do their best to involve ICOs in their brokerage services. While the broker tries to avoid the scam suspicions many ICO-related brokers arouse, it certainly evokes that feeling in other departments, such as the website, trading terms and conditions, the account separation, etc.
TDS Capital review of license and reputation
The company operates independently, however, it does not work with US citizens and residents, as well as other small countries like Georgia and Azerbaijan. This also makes us think that something isn’t right with the broker and it fails to meet some of the regulatory demands these countries have. Okay, we get that the United States has a very strict regulatory framework, but what about Georgia? The country is known for its freer regulations in finances. And being forbidden in that country makes us even more suspicious.
There are more than a few TDS capital reviews available online. These reviews are quite mixed and offer both positive and negative outlooks. On the one hand, people often mention how exciting the broker’s offerings are. On the other hand, however, the dissatisfied users complain about the difficulty of operating the platform and actually trading crypto CFDs.
On top of that, many traders found their accounts emptied up in just one night, having it filled with thousands of dollars before. This means that the SSL security is actually worth nothing at all and the financial platforms like credit cards and bank wire aren’t sufficiently protected. That being said, we believe that if someone asks, “can TDS Capital be trusted?”, the answer should definitely be no!
Overall, TDS capital opinions of our team are more or less the same across the entirety of our group. Almost all of us believe that the broker has many grey areas and flaws that put it in a not-so-favorable situation. One of the biggest downsides of the broker is that while it’s a crypto trading brokerage, it doesn’t support crypto transactions on its platform. Instead, we have regular credit cards, bank wire, and some e-wallets that aren’t as secure and convenient as Bitcoin, Ethereum, or other cryptocurrencies would have been.
Then there’s a seemingly complex account separation that actually does nothing special. Even the basic account has a hefty minimum deposit requirement and doesn’t address the needs of the beginner traders. Not only that, the difference between the accounts isn’t as significant as the broker wants you to believe.
Therefore, our final TDS Capital rating is one out of five.