Tradecenter.fm Review Is Trade Center A Legit Or Scam Broker

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TradeCenterFM Review: Tradecenter.fm Cruel Forex Scam

TradeCenterFM Review: Tradecenter.fm Cruel Forex Scam

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Last Updated: Jan 29, 2020 @ 1:16 pm

TradeCenterFM (Tradecenter.fm) is a ruthless Crypto and Forex broker claiming to help traders ascend to financial freedom. Trade Center FM is purporting to offer users leverage of up to 1:500. During the course of our investigation, we have been receiving email complaints from members of this platform. One member lost over $7,000 within an hour trading with this scam broker. Read this genuine and honest TRADECENTERFM review for more details.

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TradeCenterFM Review

Members are ruing signing up with this broker after some of them had their accounts blocked. What’s happening with this broker? Why are investors signing up with a fake broker in the first place? Most investors don’t conduct a thorough research when it comes to signing up with any online platform. Professional scam artists take advantage of this loophole by cloning real trading websites. And this is what TradeCenterFM has done with their illicit and scandalous website.

By creating a visually compelling website, most users will sign up without a second guess. Having signed up, Tommy thought this was the real deal and deposited $10,000. After making a few trades, he lost $7,000 and stopped trading. In order to protect his investment, he decided to withdraw the remainder. Sadly, his calls for withdrawals fell on deaf ears as his account was later closed without any notice. TradeCenterFM is a scam brokerage firm out to steal from anyone who signs up.

About TradeCenterFM

Disclaimer at the footer of the homepage claims this platform is based in Estonia. Professional scam artists will do or say anything to make their platforms appear legit. In this case, Trade Center FM plans to entice users into believing they are based in Europe. Promfix OU is the company claiming to be behind this platform. Investors are dealing with a rogue and anonymous trading entity.

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Anonymity is a dangerous partner to associate with. And it seems this is what TradeCenterFM is after. Why have they failed to disclose names of the founding members? What about the actual people running this website, why are their names hidden? In real sense, users trust an unknown third party with funds. For all we know, this could be a money laundering website run by offshore brokers.

Is TradeCenterFM licensed or registered?

By claiming to be based in Europe, you would expect they are licensed by CySEC or the FCA? None of these regulatory bodies have ever licensed or registered such a broker. Other regulatory bodies we contacted include ASIC and NFA. As expected, none of these industry governing bodies has ever heard of TradeCenterFM. We are dealing with an offshore broker who is trying to hide their real identity. Why have they failed to post any licensing details on their website?

A real broker will post copies of their licensing and registration for all to see. This helps members to verify details of registration with regulatory bodies. Without a trading license, investors are depositing funds with an unknown third party. Stay away from brokers who lack a valid license. In case of bankruptcy, users should not expect any compensation. After all, this broker does not insure funds as required by trading laws. Stay away from such unauthorized trading platforms.

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Disadvantages of TradeCenterFM

Unfair Account Types

TradeCenterFM is furnishing users with five different account types to choose from. These account types include Classic, Bronze, Silver, Gold, and Platinum. Notice how high their minimum acceptable deposit stands? Users are required to deposit over $5,000 to start trading with their Bronze account. Industry set minimum trading requirement is $250. No broker should ask for a higher amount.

What we notice with the last four account types is how similar they are to each other. These account types have the same advantages which makes us question this entire platform. Why would an investor deposit $100,000 and get same advantages as one who deposits $25,000? Account managers will constantly call when asking for deposit and disappear when members ask for withdrawals.

Deposit and Withdrawal

Depositing funds takes less than five minutes thanks to accessible depository channels. Investors can deposit funds using bank transfer, Bitcoin, MasterCard and Visa. Before depositing funds, ask yourself one question, is this process safe? Looking at their website, it lacks even the basic of security protection. You guessed it, a solid YES.

Withdrawing funds with this broker has been a major issue for parties concerned. Tommy is not the only member having withdrawal issues. It seems once you deposit funds, any balance belongs to this broker. And this is where we draw the line with TradeCenterFM. Refusing to grant withdrawals to members is a clear violation of trading regulations and rules. And this is another reason why using an unauthorized broker is risky. TradeCenterFM is clearly defrauding members of their hard earned funds.

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Are funds safe with TradeCenterFM?

How can funds be safe from a broker who lacks any licensing details? Funds are not secure from a broker who hides their real identity. Why have they failed to disclose where they bank funds deposited by members? Is it possible investors are depositing funds to owner’s bank account? Dealing with a broker who refuses withdrawal of funds means users are far from being safe. Simply stay away from Trade CenterFM.

Merging funds in one account is a risky practice as the account can be closed indefinitely. TradeCenterFM is pooling funds in one account risking assets used by members. As we said earlier, in case of insolvency no compensation should be expected. Illicit brokers never insure funds as dictated by trading laws.

Is TradeCenterFM a Scam?

After checking all evidence gathered, we can strongly deduce TradeCenterFM is a scam. Mark all their emails as Spam and warn your family and friends from joining.

Bottom Line

In order to safeguard our readers, we will be adding this broker to our scam blacklist. Stay away from this broker or become their next victim.

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Wishing everyone a successful trading experience.

MTrading Review

Overview

A Forex broker MTrading provides services to traders around the world. It has a good reputation and offers favorable terms of trade.

Details

Broker MTrading
Website URL www.mtrading.com
Founded 2020
Headquarters Belize, Belmopan, Mountainview Boulevard, Garden City Plaza, Office 5
Support Number +7-495-268-14-61
Support Types Chat, phone, email
Minimum 1st Deposit $100
Minimum Trade Amount $1
Bonus Bonus up to 50%
Leverage 1:1000
Spread from 0 points
Free Demo Account Open Demo
Regulated
Regulation IFSC (№ IFSC/60/270/TS/14)
Account Types Demo, M.Premium, M.PRO
Deposit Methods Bank cards, MasterCard, Visa, Skrill, Webmoney, QIWI Wallet, Neteller, etc.
Withdrawal Methods Bank cards, MasterCard, Visa, Skrill, Webmoney, QIWI Wallet, Neteller, etc.
Number of Assets 100+
Types of Assets Currencies, commodities, CFDs for metals, energy, indices, stocks, crypto-currencies (Bitcoin, Ethereum, Litecoin, Ripple, etc.)
Account Currency USD, EUR, RUB
US Traders Allowed
Overall Score 3/10

Full Review

Of course, you’d like to know whether MTrading is a scam or a trustworthy company you should stick with. We’ll answer this question below.

Working since 2020, MTrading has already managed to show its strengths. Its offices operate in the Asia-Pacific region, Africa and South America. The company provides instant support for traders around the world. For successful trading in the financial markets, the company offers high-quality services and up-to-date software solutions. The broker has introduced the Electronic Communications Networks system (ECN), which guarantees better execution of orders and reduces the likelihood of slippage in trade. The company works with segregated accounts, which ensure the safety of investments from force majeure.

Traders can access online trading in currencies, crypto assets, metals, indices, and shares as well as energy carriers (oil and gas). The company boasts favorable working conditions (accurate quotations, one of the best spreads on the market, competitive deposits, and various methods of withdrawal), information support, and professional services. All of this is designed to make trading comfortable for both professionals and newcomers. Traders can make use of one of the best MetaTrader 4 platforms, which is excellent and easy to use. It can really improve the overall efficiency of your trading. You can also work in mobile versions of these trading terminals.

Special attention is paid to the security of the platform, so it’s no wonder that many traders highly praise its reliability. MTrading ensures the automatic trading of advisers. With the help of the MACI program, you can generate revenue by using auto-copying of successful traders’ deals. It’s also possible to open accounts to invest in the MAMI.

The site of the broker is highly informative. It provides enough materials about the terms of trade, terminals and affiliate programs. The company also offers expanded opportunities for training, proving that it’s truly interested in the growth of financially literate consumers. The website presents a lot of books, video lessons, seminars, webinars and actual analytics from professionals.

Replenishment and withdrawal of funds

MTrading offers different options for replenishment and withdrawal of funds. To start real trading and replenish your trading account, you need to register with the broker (registration is very fast) and deposit the required amount by choosing a convenient method of transferring funds (the minimum deposit is $10). To deposit funds, you can use an expanded list of modern payment options – from conventional credit cards to electronic payment systems:

  • Bank transfers
  • Plastic cards (Visa and mastercard)
  • Skrill
  • Webmoney
  • QIWI Wallet
  • Neteller, etc.

Funds are available for trading right after payment (if you work with electronic payment systems). The withdrawal of funds is possible only for authorized and verified traders, and withdrawal is carried out within 24 hours (electronic payment systems).

Complaints about MTrading

Despite the fact that the broker is very young, the Internet contains a lot of reviews about its work. Some traders note the positive aspects of cooperation with the company: the provision of professional analytics, profitable trading conditions, a wide selection of assets, and low spreads on the market. Besides this, customers also note a simple, quick verification procedure, an ability to copy transactions, and good performance of the MT4 terminal.

There are also negative reviews, which mostly relate to the following problems: issues with the terminal (lag, freezes), problems with the support service (long processing of applications, managers often don’t respond to requests), and problematic withdrawal of funds, including bonuses (long withdrawal, refusal of withdrawal without an explanation of the reasons). As for positive things, it should be noted that the company’s managers work with feedback, trying to reduce the negative aspects and resolving the users’ problems.

If we find complaints about MTrading, we will post it on social media. Follow us to be well informed:

Is MTrading a scam?

Regardless of the fact that MTrading is one of the youngest brokers in the Forex market (here you can learn the whole truth about Forex), the company has already demonstrated its good reputation. It has achieved great success, providing a wide range of financial services and some of the most favorable terms for trading and having a large base of traders around the world, which is constantly increasing.

The Internet already offers different reviews about the company, both positive and negative. The company’s managers keep track of the comments and sort out the claims, which shows that the issue of customer satisfaction is of great importance to the company. All of this suggests that MTrading isn’r a scam. It’s a serious organization that has come to the Forex market to take a strong position. One of the factors of the broker’s positive image is the provision of a reliable Metatrader terminal for trading.

As an advantage, we note the availability of bonuses, professional support and an extensive base of training materials – in many respects the company demonstrates a thoughtful policy of working with the users. The availability of the MTrading certification is also a significant step toward earning the trust of the clients. Should we consider MTrading to be a scam? At this stage of the company’s development, we think it’s too early to draw such conclusions, but you can protect yourself by working properly with your personal manager.

Regulation of the broker

The activity of this broker is regulated by the IFC International Financial Services Commission IFSC of Belize (No. IFSC/60/270/TS/14), which guarantees the security of trade. Please note that membership with the broker is suspended due to the prolongation of the contract; information on this issue can be monitored on the IFSC website.

Bonuses from the broker

Each trader of the company can count on a 50% bonus.

The bonus is valid for the first deposit. It allows you to receive additional funds for trading on the broker’s site. Detailed conditions for the bonus should be specified by the personal manager.

Conclusion

Forex Trading Broker MTrading is a young company that has already earned high ratings as one of the leaders of Forex trading. It provides high-quality services and profitable terms of trade. The broker has a large base of traders and different reviews. We can say that the company is actively developing. The company’s experts keep monitoring reviews on the Internet, which proves that the company is eager to learn the opinion of its users. We hope that discussions on the thematic forums will contribute to further improvements in the services provided.

We should also note that MTrading has not completely shown itself yet, so it’s too early to evaluate it as a reliable or fraudulent company. However, the responses of traders who are waiting for this article can not only change the broker’s rating on our web portal but also warn market players of possible problems.

Reviews

Ive had a bad trading experience with a slum broker a couple of months ago. Its was impossible to get a withdrawal after several attempts. I hired a recovery solution firm to get my money back.

MTrading is an average broker, but I personally give it a much higher rate. It’s very comfortable to trade with, there are approximately 100 different assets, and you can always use analytical materials that are presented in the most convenient way. Spreads are narrow floating and are from 0 for some assets. And even crypt spread starts from 2%. The broker provides a leverage of up to 1:1000 and 1:5 for crypt. I used to think that it’s pointless to use CFD for crypt, but recently MTrading canceled crypt expiration and you can keep orders open for a long time. This helps sometimes at least not to lose on the fall. Of course, it’s necessary to monitor the margin and control the stop loss. Crypt short positions swap is 10% and long positions swap is 30%. I trade with currency pairs, crypt and shares there. But I think this broker has not enough shares. There’s only about fifty. Everything has always been fine with funds withdrawal.
It was a surprise for me to see someone saying that MTrading doesn’t pay. My acquaintances and I have no problems with funds withdrawal on MTrading. I don’t know, maybe he hasn’t passed the verification or he is from India?

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