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Tradewell Scam broker review
TradeWell is a cryptocurrency broker that is owned by Bridgehold Limited, a company that is based in the Commonwealth of Dominica. The broker is not regulated with a known regulating authority. Read the detailed review of Tradewell broker before investing money with the broker.
Tradewell is a crypto broker which was launched in 2018. They offer five different types of trading accounts for cryptocurrencies. The minimum amount required to start trading with Tradewell is $250 which is available in Basic account type. The different account types are Basic, Silver, Gold, VIP and Black/Diamond.
The leverage offered is 1:10 in basic to 1:40 in Black Diamond account type. The bonus offered is 50% in basic to 150% in Black Diamond type of account. We have gone through the broker’s bonus acceptance policy and there are a number of unusual terms and conditions when trading with bonuses. EU has banned the use of bonus in its jurisdiction because most of the broker’s trading terms for bonus trades are not reasonable. Tradewell seems to be an example.
Tradewell current website is tradewell.exchange. Their trading website is a simple one and they have not put much information about the trading platform they provide to the customers. There is no info about the availability of mobile and tablet trading platforms. No Metatrader platform is provided by the broker.
The payment options are Visa, Mastercard, wire transfer, bitcoin and Load as shown in their website.
Is Tradewell a legit or scam broker?
As stated above, Tradewell is owned by Bridgehold Limited which is incorporated in the Commonwealth of Dominica. But the payments are processed by another company Invest Support Ltd which is based in Bulgaria. In addition to this, we don’t have any information about the regulation of the broker with any reputed financial regulating authority like FCA, CySec or ASIC. Due to this, we suspect Tradewell cryptocurrency broker as a scam, the trader’s fund with them is not safe. If there was a known regulating authority, the security of funds would be good.
There are numerous warnings about this broker by some trusted regulating authorities. Also, we have found many reviews on Tradewell scam and complaints. Moreover, there are unusual withdrawal terms when bonus is accepted by the traders. We advise not to trade with such brokers like Tradewell who have such trading conditions and not regulated with any reputed regulating body.