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Trade5000 (Trade5000.com) is offering over 1,000 assets across 4 classes, Commodities, Forex, Indices, and Stocks. Trade 5000 is claiming to be a leading broker offering commission free trading with low fixed spread. According to their homepage, you get up to x200 leverage with no hidden charges, commissions, or fees. The problem is these scam artists are blocking withdrawals from members. Read this genuine and honest TRADE5000 Review for more details.
The platform is selling itself as a leading provider of financial services and investment products. Disclaimer at the footer of their homepage shows Trade5000 is owned by International Payments 5000 Ltd. A closer investigation reveals that this is a non-existing shell company with no real address. Claims of being located in Estonia are not true as Estonian Company Register has no named entity. And this means these scam artists are creating made-up names to act as legit business holders.
Trade5000 is completely anonymous and has no valid credentials or personnel. You would expect their mother company to have a renowned CEO or CFO. The entire platform gives no details regarding founding members or staff involved. It would have been ideal if the platform had social media handles of any person involved in their platform. An excellent reason why this is not the case is these are international scam artists. They don’t want to throw away their real names for fear of retaliation from authorities and victims. When trading Forex, it is wise to use accurate and dedicated Forex trading robots tested by experts.
The platform offers two assets, CFDs and Forex. Other notable programs include their affiliate program. The affiliate program claims to be the highest paying in the world offering a full range of flexible deals. Some of the deals they state include CPA, hybrid and rev shares. No affiliate members has shared their good experience, they all claim lack of payment. It seems Trade 5000 has a reputation of not paying members.
A closer look at the domain register whois.net reveals the platform has been stealing for years. Created on 14th May 2017, the platform has been operating under the radar of authorities. The expose will help traders stay away as we have concrete proof that this is a ridiculous trading platform. Trade5000 is not giving traders any of their brief trading history. We failed to get any numbers regarding traded volume in these three years. And they hide this information for a reason; it isn’t a successful platform as they would have us think.
Trade5000 is claiming to offer education to members and traders alike. Some of the educational materials they claim to offer include Chart analysis, E-books, Economic Calendar, and more. These educational materials have been copied from reputable courses and is no way related to the platform. A real trading website will have materials relating on how to use their specific trading platform. And this is why we are against the use of this ridiculous trading platform.
Disclaimer at the footer of their homepage claims the platform hails from Estonia. We conducted a thorough check using EFSA and MiFID. None of these regulatory bodies has ever heard of this platform. And this is proof we are dealing with a rogue and unregulated platform. The problem with unregulated platforms is that funds are never secure. And this is why you must stay away from unregulated online investment entities.
The fact that they claim to be in Estonia made us look at other regulatory bodies in Europe. Some of the regulatory bodies we contacted include CNMV, CONSOB. CySEC, FCA, and FINMA. None of them has ever licensed this rogue platform. The details posted as their registration number are a lie. Scam artists will use random numbers to try and fool unsuspecting investors. Check with regulatory bodies to check whether a platform fully complies with industry’s standards.
Trade5000 is furnishing users with six different account types. Accounts listed include Green, Silver, Gold, Platinum, VIP, and Black. These accounts come with different features such as over 10 trading signals, one on one expert session, and a demo account. Other notable features include having daily market review and pro webinars. All these are available in normal accounts and don’t make them unique. The problem with these accounts is that they have not listed the required minimum deposit for each account.
One of the most used tactics by scam artists to entice investors to sign up is use of bonuses. Each account type has a bonus reward which they term as a welcome bonus. The welcome bonus starts at 30 percent for the green account to 100 percent for the VIP account holder. Later on, these scam artists demand that you pay the bonus issued when opening an account. Members are having a hard time withdrawing funds as they insist you must first pay the bonus. Why issue a bonus when you will later demand it back? It makes no sense.
When it comes to contacting the broker, they have used a bot to act as a live agent. The problem with bots is that they never fully respond to questions. Before you open a chat session, you have to give them your contact details including email and phone number. With your phone number, they will continuously harass you with deposit request. These call agents suddenly become account managers and they claim to have your back. Stay away and don’t give them your contact details.
When it comes to depositing funds with this platform, Trade5000 is well covered. Some of the depository channels listed includes AstroPay, MasterCard, Neteller, Skrill, Wire Transfer, and Visa. The main problem with Trade 5000 is that members never get the chance to enjoy the fruits of their labor. When it comes to withdrawing funds, the problem persists and no one has proof of withdrawal. Most complaints we have seen online are in regards to the withdrawal issue. It is best to stay away from this unlawful platform.
When it comes to the trading platform they use, these scam artists hide the details. The entire homepage has no indication of the platform traders expect to use. And this is done on purpose to force traders use their custom-made platform. With a custom-made platform, there are a few uncertainties. They include a platform that has no secure trading platform. Lack of DDoS and SSL encryption is proof hackers can easily steal vital data. Another issue is stability making their platform incompatible with various devices.
When it comes to security of funds, this is not guaranteed. The platform is not segregating accounts and Trade5000 is pooling funds in one account. When this happens, scam artists laugh all the way to the bank. Members are depositing funds straight to their personal account. These are real scam artists who will do anything to ensure you deposit with them.
Evidence in our hands clearly shows Trade5000 is a scam targeting unsuspecting investors. To stop it dead on the tracks, you need to ignore any calls to sign up. Warn your family and friends from joining any of their affiliate programs.
Adding this platform to our scam blacklist will help expose it to unsuspecting investors.
Stay safe and use industry backed brokers with a proven reputation.
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