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TradeCenterFM Review: Tradecenter.fm Cruel Forex Scam

TradeCenterFM Review: Tradecenter.fm Cruel Forex Scam

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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.

TradeCenterFM Review

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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.

TradeCenterFM Account Types

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

TradeCenterFM Crypto and Forex Broker

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.

Dealing with transparent and vetted Forex trading tools is a sure way of making stable profits. Start the success journey by using industry backed and expert recommended Forex trading robots. Go for Forex robots with a proven track record and which keeps traders safe at all times. Your time is now to make stable profits with Forex trading.

Wishing everyone a successful trading experience.

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