Whenever we decide to make a review of a broker, we try to go into as many details as possible, but with this Tradescrypto review, we dug even deeper to find fact after fact about them being a scam. Continue below to find out exactly what gave them away.
Remember when you first started to trade? We’re pretty sure you were as careful as ever when you were choosing your very first broker. Remember the time-consuming work that you had to do, reading through the terms and conditions of a specific broker, trying out their demo accounts, sometimes being called by a salesperson who’s desperately trying to make you invest. Remember all of these bad times connected to finding brokers. It’s a terrible process honestly. That’s why this Tradescrypto review exists. In order for you to avoid every ounce of stress connected to a broker search, we have made this review to give you all the essential information about Tradescrypto. We have dug deep and found about all the details we could about them and compared their services to the most reputable and trustworthy brokers.
First thing first, the general way that you should be looking at brokers is not connected to tedious and mind-boggling research through their terms and services, what you can do is simply look at their service options, weigh them up on how they can deliver all of it and you’ll be amazed by how easy it is to catch them red-handed. For example in the process to review Tradescrypto we came across the fact that they are trying to market their most expensive accounts as much as they can. This should be a clear red flag. Because every reputable broker, that is aware of the fact that most of its customer base will be beginners or not very experienced traders, will definitely market the basic account and after working with you and helping you out, will inch you towards the more advanced accounts and by then you won’t even have a problem doing it. But for the Tradescrypto scammers, it was important that they marketed the VIP accounts in order to squeeze as much as possible from the unaware customer.
What you can trade on Tradescrypto
One of the biggest red flags about Tradescrypto is the fact that they offer only crypto trading. Now we understand that cryptocurrencies are one of the most popular goods to trade on the market, but please consider the fact that the best brokers always offer a lot of variation. Imagine if cryptos have a bad month, what will you do the whole month if you’re a holder? Yes, you will have to sit and do nothing but watch the prices in hope of a miracle without much progress. That’s how Tradescrypto scams its customer base, saying that they help to focus just on cryptocurrency and are looking in the future of trading. The most reputable and reliable brokers always offer more goods to trade, like stocks, major currencies, CFDs, commodities we can go on and on. Plus remember that cryptos are probably the easiest thing companies can scam you about in this day and age.
Although Tradescrypto scam is pretty much guaranteed, we need to say that their website was constructed pretty well. Sometimes it is hard to believe that a website so prestigious can be a scam. When visiting these types of websites you may be thinking, like it is impossible for somebody to spend a lot of money, making a good looking website just so that they can scam you. But please remember that this is trading we’re talking about here. An uninformed trader could easily get scammed for $5,000 or even more.
The biggest giveaway
If you go to the section on the webpage “About Us” and scroll down enough you will be able to find a slide that is showing what people have said about their company. However there are only 2 of these people saying anything about them and only mentioning that they have a lot of cryptos on their platform, their services and credibility is completely disregarded. Unfortunately, the statements are very vague and shady, adding another piece of evidence to the Tradescrypto scam. Check them out:
Now that you’ve seen the statements from these individuals, you probably had some kind of relief thinking that their “real” people have worked with the company and had a good time with them. However just with like 2-3 clicks, we were able to uncover the whole ordeal about them. People with these names exist, we have no doubt about it. The companies that are listed exist as well but, the pictures that have been displayed to represent these individuals are just stock photos taken from google. How did we find out? well, we just did the old trick of right-clicking and “search google for image”, this is what we found:
We are sorry if the images are way too big and don’t look that good on the webpage, but we wanted to make sure that you were able to see the faces clearly and distinctively. As you can easily spot on the first picture “Mike Rogers” is just a stock photo of a man calling on a phone taken from a stock photo website. Even more ridiculous is the fact that the image is on the first page when you search for “phoning”! But the Tradescrypto scam didn’t have enough there, it didn’t want to stop there, so let’s check out the second photo about “Marcus Fields”, It turns out that he is just a stock photo model that accounting firms use, a shocker isn’t it?
Nowhere on the webpage were we able to find anything about them being regulated by somebody. This is a huge red flag for traders. If you are a trader and have been in the market for some time, you know how important it is to know if your broker is regulated or not and by whom. Because if you want to keep your investments safe, the only thing that will decide their safety is the regulatory body like CySEC or FCA or etc. This Tradescypto review is turning into a shining light on the website.
What would happen if you would invest with an unregulated broker? First things first, you will most likely be called by their sales managers, you know, call centers that they outsource to cheap countries. So you will be given a call, about how amazing the broker is and how you should start investing immediately, pretty much all the pitches you’ve already heard and watched in “Wolf of Wallstreet”. After that if you agree to invest, they will promise you some kind of broker assistance and as soon as your payment goes through they disappear. These kinds of brokers mostly live for half a year maximum, until they get exposed and then they quickly rebrand to continue the scam. We don’t know what other types of Tradescrypto scams were available in the past, but we’re pretty sure this isn’t their first and neither last name.
What actual people have to say about Tradescrypto
We tried to reach and find as many people affected by this scam as possible. Unfortunately, we were not able to get a hold of them in order to have a full conversation to see how the whole ordeal went. however, we found the next best thing that is their comments on scamadvisor in which they describe their experience or just say how much they lost in the Tradescrypto scam. Here’s what they said:
If you still do not believe you are welcome to contact these people on your own if you wish so. The least we could do is to check out their accounts to find out they were actually real people having real lives and not stock images taken years ago and uploaded to a website. Now let’s get to the financial side of the Tradescrypto scam, just so you know how much is on the line and how much they want to get from you with their scamming mechanisms.
Account Types and Platforms
As we’ve already talked about their accounts there isn’t much to say here. We just wanted to show you their trade account variations without you having to even go to their website because we’re not sure if they have some kind of miners installed there. As you can see their standard account is worth 1,000 EUR and it has so little features it’s mind-boggling. Some of the best brokers have accounts for that same price that have the same features as scammer Tradescrypto‘s VIP account, which they’re marketing as a top selection with traders. One weird thing we can say is that we could not find any information about a bonus being added to your non-deposit account. But judging the amount they are asking for 1 single account, even they figured out that, offering a bonus would be too obvious.
The only platform that they feature is WebTrader, and honestly yes it is one of the best platforms for cryptocurrencies, but at least they could have offered some kind of diversity to their customers. The small number of trading platform is always an alarming sight, judging by the fact that the lack of variation for customers leaves Tradescrypto’s door open to manipulate 1 single system.
Summing up the Tradescrypto review
We wanted to make a big section for the summary, judging by how many pictures we used, but honestly, there is little left to say after those pictures. The pictures we featured speak volumes about the company’s credibility. Them having to fake good reviews is what tells you that there are none to speak of. We are done reviewing Tradescrypto, hopefully, it was informative and helpful to you, and hopefully, you will stay away from them.