TraderMarkets Compliant Review

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TraderMarkets is a Seychelles based online broker that claims to offer unheard amount of leverage and instruments under one roof. Their regulatory background is shady and the contact details provided by them raises serious concern.

All of the reputable platforms have issued warnings against them and Australian regulators have joined in too. While their sites may feature all the bells and whistles, do not be swept away by the temptations.

Continue reading to know about the ground reality and then make a decision.

TraderMarkets Overview

 

TraderMarkets claims to offer over 1000 trading instruments and account management services. While everything sounds good in theory, the second you start observing the small details, you will see the flaws. For example, they have no audited reports published. The firm’s stance in terms of compliance is unverifiable.

Moreover, even the bonus structure is complicated and their FAQ section creates more doubts. All in all, it is a mysterious entity wrapped in a shiny website.

 

Trading Costs and Bonus

 

Apparently the spreads they offer start from 0.8 and the bonus offered can go a bit above 50%. Spreads are important especially if you are a scalper, but that alone is not enough to paint the picture. Things like swaps and other related costs should also be made clear.

Different asset classes have different rules, all of them have to be shared with the clients beforehand or else clients will have to suffer severe consequences. Bonus also contains a lot of terms and conditions. Before accepting it, make sure to go through the requirements thoroughly.

 

TraderMarkets Red Flags

 

The biggest red flag is the lack of credible regulation. Firms based out of Seychelles do not have strict enforcement and that creates a legal loophole for questionable entities. Secondly, the information on the trading conditions are scarce and leverage of 1:1000 is way too much for average traders and newbies.

Lastly, the way the support team interacts with the public is also unconventional and that approach is beyond concerning given their other traits.

 

Conclusion

 

TraderMarkets is a sketchy entity and we wouldn’t trust them with our funds and we suggest our followers to do the same. If you are encountering any issues with them, reach out to us and we will assist you with the tracing and investigation.