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Is TradeLTD a scam broker?
The TradeLTD is owned and operated by Currency Board OU and provides services like currency trading services. The official registered address provided by TradeLTD is in Estonia. Another address is also found on the TradeLTD for the operational functions in Austria. The website uses seven different languages and has a contemporary composition. TradeLTD offers five different account types. These are the best features of the platform. Withal, the subject matter of the TradeLTD is not as pleasing and explanatory as its composition. The TradeLTD also features a blog. But the information is very narrow and not at all profitable to shareholders. Likewise, illustrations on endorsements on the TradeLTD are taken from stock. lending in this firm under no circumstances is advised to be secure as the firm is not monitored by any authority.
About the TradeLTD:
The success of the trading platform is directly proportional to the trading conditions provided by the broker. These conditions are Spreads, Leverages, Withdrawal, and Minimum Deposit Limits. The TradeLTD offers five different types of accounts viz. Standard, Silver, Gold, Platinum, and VIP. The minimum deposits for these accounts are $200, $1,000, $5,000, $25,000 and $50,000 respectively. Another important factor is Maximum Leverage which is provided with 1:100 for the Standard account and 1:200 for all remaining account types. This is far lower than anticipated.
In addition, the Minimum Trade Size of 1 for a VIP account, 0.01 for Standard account, 0.1 for a Silver account, 0.2 for Gold account and 0.5 for a Platinum account that falls under the mini lot. For better trading returns one should opt for the micro lot or nano lot minimum trade size. Here, we can get clues of organizations’ intentions. The Spreads are from 0.9 pips, 2.2 pips, 1.9 pips, 1.6 pips and 1.3 pips for VIP, Standard, Silver, Gold and Platinum respectively which are highly fluctuating on EURUSD. Generally, it is more advantageous to have 1.5 pips, especially on EURUSD. On top of that TradeLTD does not provide a demo account.
When it comes to withdrawal, the instructions provided by the broker on the website are limited and opaque. Even though, TradeLTD is neither registered nor licensed by any authority.
Is TradeLTD scam or legit?
Trade LTD is among the brokers that can’t be trusted online since TradeLTD is not regulated by any reputed organization. We should not trust brokers who are not regulated by reputed regulation organizations. Moreover terms and conditions listed by TradeLtd are not transparent which adds to our suspicion of it being a scam broker.