Is Tradezmarket.com a genuine forex broker or an unregulated scam masquerading as the real thing? Is it regulated, and by whom? Have any investors filed complaints about losing their money after trading with them?
Tradezmarket describes itself as “an independent world leader” in managing large accounts. It boasts of having the safest trading platform and offers you a 100% fund security. Is this true or a case of false advertising?
Read this in-depth review for the whole truth about Tradezmarket before you invest your hard-earned money with them.
If you have lost money with Tradezmarket or any other broker, fret not. You can still recover it. Schedule a free consultation, and our trusted experts will assist you.
Tradezmarket Review in a Nutshell
In this review, we give you detailed information regarding Tradezmarket. We will look into:
- Who is Tradezmarket?
- It’s licensing and regulation
- Critical red flags
- Customer feedback on the forex trading firm
From the above information, we will show you quite clearly that Tradezmarket is an unregulated scam. This will help you make an informed choice and pick a genuine and reliable forex and CFD broker.
Although Tradezmarket claims to have offices in Bulgaria and Switzerland, it is not authorized to offer investment services since it is an unregulated broker. This is according to the FCA, The British financial regulator, which has blacklisted it along with other unregulated brokers.
Tradezmarket had been illegally targeting Swiss and EU citizens. The firm is allegedly incorporated in Bulgaria, with an office in Zurich, Switzerland — both highly regulated markets.
For any broker to operate here, it must get a license from the relevant authorities. These include FINMA in Switzerland or the Financial Supervision Commission (FSC) in Sofia, Bulgaria, an EU regulatory body.
Besides, FINMA and CONSOB – the Italian securities regulator – have blacklisted Tradezmarket. The two bodies have also issued public warnings against trading with the firm.
Who is Tradezmarket?
The broker presents itself as a forex and CFD broker that’s incorporated in Bulgaria, with an operating office in Zurich, Switzerland. The online forex and CFD broker offers:
- A web-based platform
- A wide variety of account types and currency pairs
- Leverage of up to 1:20 and 3.5 pips for EURUSD spreads
- CFDs on cryptocurrencies like gold, bitcoin, and Ethereum
- CFDs with a choice of several different account types including agricultural commodities, natural gas, and oil
Tradezmarket provides several types of trading assets. It features over 50 currency pairs — both exotic and minor — and various CFDs on precious metals such as silver, gold, and platinum. Tradezmarket has premium trading tools and it claims to have a safe and secure multi-layered structure.
It has an enticing website that promises you that they use trading strategies and signals which are always profitable and timely. You are assured of 24/7 quality customer support from highly trained and experienced staff and a safe trading platform with all essential knowledge.
Sadly, these are majorly false claims. Here’s why.
Who Regulates Tradezmarket?
Tradezmarket is an unregulated offshore company. As seen from the above warnings from various regulatory bodies, the firm is a scam you are well-advised to keep away from any dealings with it.
The Red Flags
It is very risky to trade with unregulated offshore brokers. Not only are these brokers unreliable, but they are also not accountable for the way they invest your funds. Moreover, they do not answer to any official authority. Hence, they can scam you easily and disappear without a trace.
This is the most common way of scamming investors.
Here are some of the red flags:
1. Lack of Proper Regulation
Information from the company’s website shows that the brokerage is owned by Investment Company Activity Ltd, which also operates Tradezmarket. However, both Tradezmarket and its parent company are not registered with either FINMA in Switzerland or the FSC in Bulgaria, where the firm has a presence.
The website has no information on its regulatory body, which is a glaring omission. The registration number shown on the homepage footer is fake and meant to counter suspicion.
The truth is, Tradezmarket is an unregulated broker. A legitimate forex broker ought to show full details about its authorization status and the people behind it. This information should be available to all investors.
2. Unusually High Minimum Deposit Requirement
The minimum deposit amount you need to trade on this platform is €10,000, as shown below. This is exceptionally high and a possible scamming tactic.
3. Lack of MetaTrader4
Tradezmarket’s unproven online platform fails to offer some classic trading functionalities such as the MetaTrader4. Up to 80% of traders globally use MT4, a top-notch trading platform. It boasts 50+ integrated market indicators as well as trading bots with which you can run automated trading sessions. It also features an advanced set of charting tools.
4. Extremely High Spreads
Upon testing the spread on Tradezmarket’s online platform, we discovered that the EURUSD currency pair had an extremely high spread of 3.5 pips. Such a high spread only benefits the broker to the disadvantage of the traders.
Besides, a 3.5 pip spread is almost three times above what most traders would consider attractive using a demo account.
5. Negative Customer Feedback
Below are some Tradezmarket reviews on Trustpilot. This consumer review site hosts reviews of businesses globally:
Tradezmarket Review Verdict: Scam Forex Trader
Though Tradezmarket passes itself off as a genuine CFDs and forex trading company, the truth proves otherwise. It is an outright scam.
This in-depth Tradezmarket review reveals its questionable trading tactics, public warnings against it, negative customer feedback, and lack of regulatory policy, among others.
Many traders have fallen into traps set by rogue forex traders. The only sure way to avoid losing by such unscrupulous traders is to only deal with legitimate brokers with proper licensing and registration.
But, if you have already fallen into their greedy hands, there’s hope; you can still get your money back. We have years of experience helping traders like you. Book a free consultation session and learn how you can recover your funds from a scammy forex trading firm.