Tradefxmines is a forex and CFD broker that claims to offer a variety of trading products and services. However, there is a lot of evidence to suggest that Tradefxmines is a scam.
Company Overview
Tradefxmines did not disclose its establishment date on its website. They claimed they have offices in Munich, London, Luxemburg, New York, Mumbai, Dhaka, and Singapore, but there is no proof of their claim by providing the regional office addresses. That means it is clear that their managers are the main pillar of their scam network.
Team
The Tradefxmines website does not list any of the company’s employees. According to their website claim, they have some regional teams in the above-mentioned places and also have a global central team. So, they should have provided the details.
Services or Products
Tradefxmines claims to offer a variety of trading products, including forex, CFDs, and cryptocurrencies. However, there is no way to verify this claim, as the company’s website does not provide any information about its trading platform or its spreads.
License and Regulations
Tradefxmines is not regulated by any financial authority. This is a major red flag, as it means that the company is not subject to any oversight or regulation. Unregulated brokers are more likely to engage in fraudulent activities, such as front-running, price manipulation, and withdrawal delays.
License Status
Tradefxmines does not have a license to operate in any major financial jurisdiction. This includes the United States, the United Kingdom, the European Union, and Singapore.
Regulation Status
Tradefxmines is not a member of any financial association or regulatory body. They mentioned on their website that, they are a signatory of United Nations Principles for Responsible Investment. This organization is just a helping organization for the investors, not a regulatory body.
Why Dealing With An Unlicensed Broker Is Risky?
There are many reasons why it is risky to deal with an unlicensed broker. First, unlicensed brokers are more likely to engage in fraudulent activities. Second, unlicensed brokers are not subject to any oversight or regulation, which means that there is no one to protect you if you lose money. Third, unlicensed brokers may be difficult or impossible to contact or recover your money from.
Legal Warning Against Tradefxmines
The Financial Conduct Authority (FCA), the UK’s financial regulator, has issued a warning against Tradefxmines. The FCA has warned that Tradefxmines is not authorized to conduct investment business in the UK and that it is likely to be a scam.
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 a number of negative reviews about Tradefxmines online. These reviews allege that the company is a scam and that it has refused to allow clients to withdraw their money.
Feedback About Their Trading
Clients who have traded with Tradefxmines have complained about the company’s high spreads and hidden fees. They have also alleged that the company’s trading platform is unreliable and that it is difficult to make withdrawals.
Feedback About Their Customer Service
Customer service at Tradefxmines is reportedly poor. Clients have complained about long wait times, rude customer service representatives, and a lack of transparency.
How Can “Reviews Advice” Help You If You Get Scammed?
If you have been scammed by Tradefxmines or another unlicensed broker, there are a few things you can do. First, you should report the scam to the relevant financial authorities. You can also try to recover your money through a chargeback or through the courts. Finally, you can warn others about the scam by posting a review on a website like Reviews Advice.
Also, you can have a free consultation call from our team. They will provide you with guidance and recovery service recommendations to help you in recovering the lost funds.
Final Thought
Tradefxmines is a scam broker that should be avoided. If you are considering trading with Tradefxmines, stop now. You will end up losing your money. There are many legitimate brokers out there that offer safe and secure trading services.
