Titantrade is a forex and CFD broker that has been accused of being a scam. The company is not regulated by any major financial authority, and there have been numerous complaints about its trading platform and customer service.
Company Overview
Titantrade is a privately held company that was founded in 2019. The company’s headquarters are located in the Marshall Islands, which is a well-known offshore financial center. Titantrade does not have a physical office in any other country.
The company’s website claims that it is a “leading provider of forex and CFD trading services.” However, there is no evidence to support this claim. Titantrade is not listed on any of the major forex trading directories, and it does not have any positive reviews from independent sources.
Team
The Titantrade website does not list any information about the company’s management team. This is a red flag, as legitimate forex brokers typically disclose information about their management team.
Services or Products
Titantrade offers a variety of forex and CFD trading products. However, the company’s trading platform is very basic and does not offer any advanced features.
License and Regulations
Titantrade is not regulated by any major financial authority. This means that the company is not subject to any oversight or regulation. This is a major red flag, as unregulated brokers are more likely to engage in fraudulent activity.
Why Dealing With An Unlicensed Broker Is Risky?
There are many reasons why it is risky to deal with an unlicensed broker. Here are a few of the most important reasons:
- Unlicensed brokers are not subject to any oversight or regulation. This means that they can engage in fraudulent activity without fear of being punished.
- Unlicensed brokers are more likely to disappear with your money. There is no guarantee that you will get your money back if you invest with an unlicensed broker.
- Unlicensed brokers often use high-pressure sales tactics to convince you to invest. They may promise you unrealistic returns or guaranteed profits.
Legal Warning Against Titantrade
The Australian Securities and Investments Commission (ASIC) has issued a warning against Titantrade. The ASIC warning states that Titantrade is not a registered financial services provider in Australia and that it is illegal for the company to solicit or accept funds from Australian residents.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Client Feedback
There are numerous negative reviews about Titantrade online. Traders have complained about the company’s high spreads, unfavorable trading conditions, and poor customer service. Some traders have also claimed that Titantrade is a scam and that they have lost money trading with the company.
Feedback About Their Trading
Traders who have used Titantrade have complained about the company’s high spreads and unfavorable trading conditions. The spreads on Titantrade are typically 2-3 times higher than the spreads on regulated brokers. This means that traders pay more money to trade with Titantrade. Additionally, the trading conditions on Titantrade are not favorable. For example, the minimum trade size is $100, which is high for a forex and CFD broker.
Feedback About Their Customer Service
Customer service at Titantrade is poor. Traders have complained about the long wait times to get in touch with customer support and the unhelpfulness of the customer service representatives. Some traders have even claimed that they have been ignored by customer support altogether.
How Can “Reviews Advice” Help You If You Get Scammed?
If you have been scammed by a forex broker, there are a few things that you can do. First, you should contact your bank and dispute the charges. You should also file a complaint with the relevant financial authority.
In addition, you can contact “Reviews Advice” for help. Reviews Advice is a company that specializes in helping people who have been scammed by forex brokers. They can help you to recover your money and to hold the broker accountable.
Final Thought
Titantrade is a scam broker that should be avoided. If you are considering investing with Titantrade, we recommend you reconsider. There are many legitimate forex brokers out there that offer better trading conditions and customer service.
