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Trade111 Review: Is This Broker Scam or Legit?

Trade111 Review: Is This Broker Scam or Legit?

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Trade 111 is a company that allegedly offers various services to investors; unfortunately, this is just another scam in the market. The platform claims they are involved in Forex, CFDs, indices, stock, and digital currency trading.

The company states that it is located in the Marshall Islands. We all know that this is a hotspot for pyramid schemes. The company offers its clients attractive benefits. Users are guaranteed that they will receive 3 pips; this is a red flag since it is above what legit companies are offering.

Furthermore, despite the leverage of 1:400 being attractive, it is attainable, but it exposes you to numerous risks. It is important to note that Trade 111 is a pyramid scheme that you should keep off at all costs.

The company is an offshore firm, which is not regulated. European nations require Forex brokerage firms to observe leverage of 1:30 maximum. You should only trust platforms that have an excellent reputation in Forex trading brokerage.

Trade 111 Review

The platform has grown popular over the past years. Many traders are trading Forex in this shady platform. There is a higher chance of clients losing their money. Trade 111 seems to be working together with two other fraudulent companies; the bitcoin miner, and Crypto Signals Software.

Trade 111 claims that they have popular MT4. Mobile Forex, and web trading platform. They additionally provide their clients with over 45 currency pairs in Forex. Clients can also trade gold, oil, and silver.

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The entities promise investors vast returns within an unrealistic timeline. The companies are continually urging investors to deposit with them, asking for personal information like email, client address, and phone number.

Trade 111 Review, Trade 111 scam platform

If you risk sharing this data, they will continuously disturb you, keeping in mind these are professional scammers. The fraudulent companies entice investors with claims of having mind-blowing offers.

Crypto Signal Software is an alleged digital currency bot that claims they monitor the market tacking the price variance in multiple crypto exchanges. Hence they can make the best out of the market.

The scammers will be on your case, calling you and asking for a certain initial amount of money. If you deposit, Trade 111 will receive a special commission. Even if you lose your money, they won’t care.

Founder

Blonde Bear OU is allegedly running trade 111, and the owner of this shady company is Black Parrot Limited. The platform that is after this pyramid scheme have all been blacklisted.

Investing with a company that regulatory bodies have asked investors to keep off exposes you to very high risk. They lack reputation, and they are notorious scammers—that why we ask our investors always to keep a watch and research thoroughly.

A company that does not concern itself with transparency should not be the choice you settle for. Legit companies will always display adequate info regarding their team and founders.

You will also find a background showcasing the qualification of the team. You have the right to know who is handling your money.

Deposits and Withdrawal

The company accepts funds via various methods PayPal, Wire transfer, Credit Card, OKPay, e-wallets, QIWI, and Klarna. Trade 111 does not receive funds via Netteller or Skill. During our review, we fund some worrying facts about Trade 111.

The least amount of money that you can deposit is $500. It is more than the average market price

For clients to withdraw funds from their system, they must attain a trading volume, which is equivalent to $100,000. That is much money, and it is hard to achieve for clients. You might miss the detail when investing only to cost you dearly in the long run.

Additionally, when you are cashing out the amount, you give Trade 111 the right to take a special commission for the transfer cost into the account of their client. It is not the case with other entities in the market. It is pure extortion of money, and no matter what the company is offering, it is not acceptable.

You need to thoroughly research a platform before you invest in understanding the term of services as you might miss critical information. The company does not also disclose how long it takes for the withdraw to be processed.

Trade 111 might subject their investors to huge fees, and delay. This platform being a scam; we expect anything from them.

Customer Support

We checked for the methods that clients of Trade 111 can use to reach the support. Unfortunately, the company does not offer support services, and there is no email address or a telephone number that you can use.

If you encounter any problem, you will have to resolve it by yourself. What kind of people are you trusting with your money? Legit companies will always offer excellent services to their investors.

You find that they have 24/7 services, and they are also friendly to customers. The reason pyramid schemes do not have customer support is because the person running the whole process is operating as alone.

Additionally, the scammers shy away because they do not want the government to track them down. They are only playing safe. Any company that is offering investment service will ensure that they have the best interest of their customers.

Regulation

The companies that claim to be behind Trade 111 are not regulated. The company offering investment services illegally, and they risk facing criminal charges. If you are trading in this firm, you will be exposed to numerous risks.

If you want to venture into an online investment, we recommend that you only do it with regulated companies as they are much safer compared to the one operating without a license. Look for platforms that are under FCA, CySEC, NFA, or ASIC. These are popular financial watchdogs in the market.

Trade 111 lacking regulatory documents only means it is a platform that is not taking their clients seriously. It wants to defraud you your money without having second seconds. The law requires investment companies to segregate investors’ funds.

Additionally, investment companies have to take part in a compensatory scheme whereby if the platform undergoes bankruptcy, investors will receive their money. Unfortunately, if you trade-in Trade 111, you will not enjoy these services.

Final Verdict

Trade 111 is operating illegally, the companies behind it are notorious scammers who are only after your money. They offer a high spread, which is a huge red flag. Investors should be cautious when dealing with such companies.

It would be best if you only ventured with legit Forex trading brokerage in the market that has a history in trading. Keep off Trade 111 unless you want to lose money.

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