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Trade Principal Review: Tradeprincipal.com Forex Scam

Trade Principal Review: Tradeprincipal.com Forex Scam

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Trade Principal (Tradeprincipal.com) is a cruel CFDs and Crypto Currency scam platform to hit the lucrative trading world. TradePrincipal is urging investors to invest in Bitcoin and don’t miss out on the price rise. Investors are asked to invest with over 250 instruments offered by this broker. They claim to help newbies invest under the guidance of professionals and experts. Read this detailed TRADE PRINCIPAL Review to find out more.

Trade Principal  Review

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Trade Principal Review

Members have been posting scathing comments regarding their time with TradePrincipal. Our help desk has also received emails from members who urged us to expose these scam professionals. Before we do, why do investors fall for rogue broker in the first place? Unsuspecting investors are swayed by the empty claims and promises posted. Trade Principal is no different as they have posted unrealistic claims. These scam artists take advantage of investors at will.

Scam artists know for a fact we all want to make an extra buck. They create websites which are enticing to the eye to drive investors to invest. These scam artists will do or say anything to ensure investors fall for their tricks. Thanks to years of trading experience, we know how to spot a scam from a mile away. Just because a website screams you can make money, doesn’t mean it is true. We will be exposing the scam tricks used by these scam artists to entice users to sign up.

About Trade Principal

According to the disclaimer at the footer of the homepage, they are based in St. Vincent and the Grenadines. These scam artists will ensure you lose all your funds and never recover them. Offshore brokers are known to open and close platforms without any formal documentation. Trade Principal is an offshore broker which is targeting unsuspecting investors to sign up. Exposing their dirty tricks starts with anonymity. Who are the people behind this brokerage firm?

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Scam artists are known to run a platform without revealing their actual names. Who are the founding members of this platform? Can we get the names of people actually running this website? Names given to members include account managers who keep on changing. No member has been able to be in constant communication with the same account manager. Account managers keep on changing names making it hard to trace the actual manager.

Is Trade Principal licensed or registered?

These scam artists have posted 11942395 as their registration number. Scam artists will do or say anything to ensure members sign up. These are simply random numbers which are meant to hide their unlicensed status. Scam artists know members won’t check with regulatory bodies for confirmation. We had to check with known regulatory bodies to verify their license status. Some of the regulatory institutions we encountered include ASIC, CySEC, FCA, NFA, and SEC.

None of the above regulatory bodies has ever licensed or registered Trade Principal. It means investors are depositing funds with an unauthorized entity. Recovering funds from these platforms is hard as they are anonymous brokers. And this is why investors are urged to sign up with tested and vetted brokers.  Why have they failed to post copies of their license certificates?

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Features of Trade Principal/ Advantages

Trying to find any advantage with a scam platform is finding a needle in a haystack. There is no visible advantage of trading with an unlicensed broker. Make sure to stay away from any of their marketing gimmicks such as videos of people winning. Trade Principal is also using call agents to trap victims. They have hired call centers to make sure they cast a wide net. These scam artists will do anything to ensure they get your funds. Stay away from these scam artists who are dubious in nature.

Disadvantages of Trade principal

Accounts Offered

Trade Principal  Account Types

Trade Principal is furnishing users with three account types. Investors can choose to use Bronze, Silver, and Gold. These accounts have the same features which make us wonder why deposit $10,000? Why would you deposit such a high minimum and get same features with one who deposits a low amount. These accounts are simply a way for scammers to make the platform look legit.

Demo Account

Another problem we discovered with this broker is having a rigged demo account. Demo accounts are used to give investors an idea of what to expect. It gives users a chance to get a feel of what to expect with a trading platform. Demo accounts use virtual money which is not real making easy to rig results. Investors are led to believe they can mirror same results with a real account.

Fake Testimonials

Scam artists also use fake testimonials to try and move users to sign up. Trade Principal is posting fake testimonials to try and make it look investors are making money. Testimonials have no base as Gonzalo V claims to have made $20,000 worth of profit. These scam artists have perfected the art of seducing unsuspecting investors.

Funding Accounts

Depositing funds with Trade Principal is easy and fast. Some of the accounts funding methods include Bank transfer, MasterCard, and Visa. Withdrawing funds is the biggest problem as no member is able to withdrawal. These scam artists are openly refuse members to withdraw funds for their own gain. Before signing up with an online platform, make sure withdrawals are made.

Are funds safe with Trade Principal?

There is no way funds can be safe with a broker who is based offshore. As it turns out, these scam artists have seen not informed users how they handle funds. Which institution do they use to bank funds deposited by members? Lack of such vital information is proof we are dealing with an illicit broker.

Is Trade Principal a scam?

After evaluating all the facts, we have to conclude Trade Principal is a scam. Stay away from these scam artists as no member has been able to post evidence of withdrawals. Mark all their emails as Spam and ensure you warn your family and friends. Expect no compensation from Trade Principal as they don’t participate in a compensation scheme. These are professional scam artists who have no clue of offering trading services.

Verdict

Trade Principal Trading Platform

Adding this broker to our scam blacklist will ensure users know what they are getting into. Exposing these scam artists ensures our readers will stay away and use recommended products.

Use industry backed and recommended Forex robots at all times. Sign up with robots which have credibility and are dependable at all times.

Wishing all investors a happy and prosperous time.

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