TradeVtech is already facing two warnings from the FCA and FSMA. First, the platform violates trading regulations, and regulators had to raise the red flag. After several complaints, it’s time everyone knew the truth regarding Trade V Tech. Second, the platform has been going dormant slowly by refusing to allow withdrawals. As a result, most of the members can’t get back their funds. Here’s the complete TRADEVTECH REVIEW.
On the about us page, the platform claims TradeVtech is a dedicated CFDs provider. The platform claims to trade in numerous platforms and leading financial markets. We do know that they will do or say anything to make you sign up.
Their first order of business was to create a website that is engaging and enticing. And that Trade V Tech did; we have to give them props for creating such an engaging website. It comes with easy navigation with all trading information available for all.
After signing up with the platform, that’s when all hell breaks loose. You can trade and even make winning trades. However, when it comes to withdrawing funds, the platform goes haywire and might block account access.
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TradeVtech offers four account types with no quote on the required minimum deposit. The four accounts include Bronze, Gold, Platinum, and Diamond. In addition, each of the accounts comes with different sets of features.
Here’s a closer look at each of the four accounts and what they bring to the table
It’s seen as the most basic account type based on the available features. Members don’t get Free VPS services or an analyst manager. What you get are a few trading instruments with no set leverage and a trade size of 0.01.
For the gold account holder, they get an online financial course in addition to all Bronze features. However, the Gold account holder does not get an analyst manager nor free VPS services. Trade size is set at 0.1.
Platinum account holders also don’t get Free VPS services. And this means the first three account holders have to pay for VPS services. There’s an analyst manager available with world indices set at $11 per lot.
It’s the most exclusive account and has all the enticing features, including free VPS services. In addition, members get to trade equities from America and Asia, all set at $9 per lot. You also get one-on-one trading and free webinars.
Based on what we’ve seen, we have a problem with the complete lack of information. For example, no one knows the amount to deposit with each account. And this means the platform could take advantage of investors.
You can deposit $5,000 and get the same account features as one who deposits $100. It’s not fair as the platform is looking to target all classes of investors with each account. Even newbies who don’t know can sign up with the diamond account and later lose funds.
From the few complaints we have seen, the analyst manager’s role is to solicit funds from members. So you will get a call from one of them asking you to deposit funds for an exciting investment opportunity.
To sweeten the deal, the platform claims the opportunity is only available for the chosen few. If you make the mistake of depositing funds, the manager will suddenly go missing. The platform, on the other hand, will appoint a new analyst manager.
You will be required to wait patiently for the previous manager to contact you. Then, after a few days, the platform will claim the manager is on leave. And after that, you won’t hear from the initial account manager again.
Trade V Tech offers five classes of assets: commodities, Cryptos, Forex, indices, and stocks. You get a chance to trade with top-performing commodities such as aluminum, crude oil, gold, and silver.
There are crypto-assets such as Bitcoin and Ethereum, which are paired against leading currencies. The platform offers exotic, major, and minor currency pairs, which is a great advantage.
The platform claims to advise on big picture analysis and trading opportunities when it comes to indices. Other services for indices include CAC 40 and Dow Jones guidelines and long-term investment planning.
TradeVtech offers a custom-built trading station terminal that is compatible with all devices. The only issue we have with their platform is a lack of testing. As a result, no one knows for sure how vulnerable the platform gets.
In most cases, we have seen such platforms making slow executions. The platform also lacks any advantage. You don’t get market alerts or advance charts or indicators. And this is why we recommend using MT4, MT5, and SIRIX trading terminals.
The disclaimer at the footer of their homepage suggests UMedia LLC operates the site. Records indicate the entity is registered in St. Vincent and the Grenadines. It’s an offshore platform that’s targeting European investors.
You will also notice the platform does not name anyone as a team member. And this is proof we are dealing with an anonymous website. So we don’t know who is held responsible for funds under the platform.
For all their talk regarding tech superiority in trading, the platform lacks live chat support. And this means you won’t get the chance to talk to a real person. So instead, the platform does its best to limit communication to email.
There are no phone numbers members can call in the event of urgent support. And this means the people behind it want to remain as anonymous as possible. So it makes it easy for them to reach you but not you to them.
You can deposit funds using a bank and wire transfer. Once you deposit funds, the amount will reflect on your trading account within 24 hours. After that, you can start trading and hopefully get winning trades.
The problems start trickling in when you decide to withdraw funds. No one has managed to reach this stage for the past few weeks. The platform is blocking all access and failing even to email users with the problem.
TradeVtech is not a licensed platform and is facing warnings from two European regulators. Furthermore, the platform does not even mention any compliance on their documents. And this is a good enough reason to stay away from Trade V Tech.
Your funds are far from safe from an unregulated platform facing regulatory sanctions. The platform fails to offer a safety net to investors. There’s no insurance cover for deposits made by members.
Here are the reasons why we don’t recommend Trade V Tech
Now you know the risks that come once you invest with TradeVtech.
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