Tramarkets.com Review Is Tra Markets A Scam Forex Broker

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Tra Markets review – is tramarkets.com a scam or legit forex broker?

Tra Markets is a CFD brokerage which does not disclose corporate information. Read the whole review to find out the benefits and disadvantages in dealing with this brokerage!

Disadvantages

Lack of credible regulation

As was mentioned above, the brokerage does not state on its website the company behind it, nor even give a contact address. We do not even find the terms and conditions of the broker which is quite troubling since this is the most important document in Forex trading – it outlines the agreement betweent the financial services provider and any potential clients. We have to assume that the website is completely anonymous and does not fall under any regulatory ovesight whatsoever.

Furthermore, the lack of credible regulation compels us to state all the risks potential clients of Tra Markets are exposed to. We have no guarantee of the segregation of accounts i.e. we do not know whether the brokerage handles the money of their clients separately from their own, which greatly increases the chance for fraud. Clients also do not participate in a compensatory mechanism, such as the Financial Services Compensation scheme (FSCS), where by the traders losses may be covered in the unlikely case of the brokerage’s bankruptcy. All this, and much more, inclinces us to recommend interested traders search for better and safer trading conditions. Here is a list of our forex brokers who are in fact regulated by the FCA and have with them all of the outlined benefits.

MetaTrader 4 available

The brokerage does provide the MetaTrader 4 trading platform which we always consider a big advantage since it is the foremost trading terminal at the moment equipped with features such as almost a 100 market indicators, as well as customizable trading robots. It is also the preferred choice for more than 80 percent of the traders in Forex. We were able to easily register for a demo account. Here is a list of forex brokers that support the MT4 trading platform:

Wide range of trading options

The website states that the brokerage offers a wide variety of trading products. Potential clients of Senta may trade CFDs on currency pairs, indices, stocks, futures, commodities and crude oil. We must state that without access to the trading platform we cannot be sure if traders with the brokerage do in fact have at their disposal such financial instruments. We may only relay the information presented on the website. We could not find, however, cryptos listed among those on the website. The cryptomarkets is among the most excited possibilities in the forex trading world and we highly recommend it to interested traders. Here is a list of our top Bitcoin forex brokers:

Tra Market is an unregulated and anonymous brokerage which does offer favorable trading conditions. However, setting aside the attractive spread and generous leverage – the broker falls short when it comes to the safety of the clients funds. Without proper regulation we just cannot confirm the security of the client’s funds and that is what most of all inclines us to recommend traders look into better trading options to which we have linked throughout the review.

Tramarkets.com Review: Is Tra Markets A Scam Forex Broker?

Tra Markets Review: this is the name of a Forex broker whose location is not disclosed on the page. Is tramarkets.com a legit Forex broker or scam?

What we find on opening the website of the brokerage are offers of bonuses. There is a 10% bonus for all clients, 30% for all new clients, and 20% called a “Rebirth Bonus”. Trading bonuses may seem like an exciting prospect but traders are warned to be wary of brokers offering this. It is because most use trading bonuses to tie down funds of their clients.

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Further no information is given on the company that owns it no location or license. We therefore conclude that this is a Forex broker operating without regulation. It is dangerous to trade with unlicensed brokers because they are not under regulation from any authority or commission. They have no mandate to obey trading rules and misappropriated funds may be irrecoverable.

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However, the broker still offers some conditions that they believe will allow traders make profits. It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

Some benefits to be gained from choosing Tra Markets listed on the website are:

Safety & Security of Funds
300+ Trading Instruments
Multiple Account Choices
Best Promotion & Contests
Free deposits & Fast Withdrawals
24/5 Access
Fast Execution
Tight Spreads
Transparent Pricing
MetaTrader Platform

Tra Markets Trading Platform

We found that the trading platform used by the Tra Markets trading software is the popular MetaTrader 4. It is compatible with most of the auto-trading robots in the Forex market.

Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.

Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.

Trading instruments offered to traders are: Currency pairs, CFDs on indices, stocks, futures, crude oil, and many other commodities. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

Maximum leverages offered is 1:100 while this may seem generous, it can pose danger as well. High leverages can lead to huge loss of funds as well. Spreads are mentioned to be fixed at 1.5 pips.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on Tra Markets

The means of making payments and withdrawals are: wire transfer, VISA, and MasterCard. We do not find any mention of e-wallets and we find this discouraging.

This is because standard and legit brokers make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on.

Minimum deposit required is not mentioned. It is difficult to know if it is within the obtainable average of $100 – $250 among brokers. Withdrawal charges are not stated for this broker. Sometimes it is better to mention if they apply or not. We do not even find any terms and conditions; this is a shady thing. Traders are expected to sign up for something with unclear conditions.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Trading bonus is offered by the broker and like we explained in the beginning, this is more of a disadvantage than an advantage.

Is Tra Markets Licensed?

No. Tra Markets is not a licensed Forex broker. On the matter of corporate details, the website is largely quiet. Trading with unregulated brokers is dangerous and should be avoided.

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

Support

There is no means of contacting the company or a customer support representative made available on the page.

Conclusion

As we have shown in details above, some of the conditions allowed by Tra Markets are actually encouraging. We find it encouraging that traders get to use the popular MetaTrader 4 platform and trade with lots of instruments.

However, the lack of proper licensing is a disadvantage. Many of the other important details are also left out. It makes us lean more towards not recommending the broker.

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Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

TRA Markets Review – 5 things you should know tramarkets.com

Beware! This is an offshore broker! Your investment may be at risk.

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

TRA Markets is an offshore forex and CFD broker offering 60 currency pairs and a range of other CFDs with a standard and a swap free account, leverage as high as 1:300 (when we opened a demo account we were offered even higher leverage – 1:500), and the MetaTrader4 platform.

And their spreads looked good too, starting from 1,1 pips – 1,2 pips.

As attractive as all of this may sound, you should beware that the broker is not regulated and that significantly lowers their credibility.

TRA Markets regulation & safety of funds

TRA Markets is owned and operated by Tra Markets Limited – an offshore company based on Saint Vincent and the Grenadines, which claims to be regulated by the local Financial Services Authority of Saint Vincent and the Grenadines (FSA).

So what is the problem? FSA simply does not regulate forex and CFD brokers, and they have explicitly stated this in a warning, that can be seen on their homepage.

So basically we are talking about a unregulated, offshore broker with rather limited credibility.

Trading with unregulated brokers has always been extremely risky as quite to often they are simply involved in scam. Unregulated brokers are also totally unaccountable for the way they handle your money, and basically if you decide to deposit your funds with one of them, you will have to rely entirely on the integrity of the people who run the broker.

So our general advise is to avoid unregulated brokers altogether and to trade only with properly regulated companies, licensed and authorized by one of the official financial regulators such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investment Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC).

TRA Markets deposit/withdrawal methods and fees

Although Tra Markets displays the logos of Neteller and Skrill on their homepage, as it turned out the only payment methods they accept are credit and debit cards like VISA and MasterCard and bank wire. This especially notable in the light of the new anti scam policy recently adopted by Skrill, according which Skrill partners only with regulated brokers. As we already noted Tra Markets does not have a legit forex license.

Beware as well of the various kinds of trading bonuses the broker might offer you. Invariably all bonuses come with strings attached – some minimum trade volume requirement or another withdraw condition, which might be used as a pretext to cancel your withdraw requests. On top of that TRA Markets reserve the right to change the terms of their bonus policy on their sole discretion, which means you may never be able to reach the above mentioned minimum trade volume.

And besides Tra Markets will charge you an inactivity fee if you have not traded for just 30 days, without bothering to tell us the amount of that fee. This is highly unusual – legit brokers may charge you an inactivity fee only if you have not logged into your account for more than a year. The broker also reserves the right to change their fee policy on their sole discretion.

The minimum deposit requirement of 500 USD is also unacceptably high. Most brokers require not more than 250 USD as an initial deposit.

How does the scam work?

Scammers use highly elaborate techniques to get to their victims. They employ call centers and use highly aggressive marketing strategies, including the so called robo scam websites like Bitcoin Profit and Brexit Trader , where you might be tempted by an offer of fast and easy money, with a minimum investment and immediate returns. And if you get hooked and do leave your e-mail and phone, filling the simple registration form, immediately you will be transferred to the web page of a unregulated, offshore scam broker, where you will have to deposit about 250 USD.

An do not be fooled by the rate of success of your initial trades. Scammers will surely be manipulating your trading account with the sole idea that latter you will deposit a much larger sum. And you will be getting regular phone calls as well. It will be your “senior account manager” with the latest trading signals, but who will also be insisting that if you really want to make some real cash you will definitely have to invest more – like at least 10 000 USD or so.

And chances are that you will invest that kind of money without realizing you have been scammed until the very moment you decide to withdraw some of your funds. Than, all of a sudden it will turn out you are not allowed to withdraw because of some minimum trade volume requirement, possibly linked to your welcoming bonus. Of course the pretext to cancel your withdraw request might be different, but in the end the result will invariably be the same – scammers will not pay you a single penny back.

What to do if scammed?

Among the few options you will still have in case you have been scammed, the first one is to immediately file for a charge back with your credit card company. The good news here is that both VISA and MasterCard now allow their clients to file for a charge back within 540 days of the day the deposit has been made.

Some scammers might even try to steal money directly form your bank account, so if by any chance you have revealed your online banking password and credit card number, immediately change the password and cancel your credit card.

And one final piece of advise. If you are approached by the so called recovery agencies, do not trust them. Those people will not recover your money, but rather will scam you a second time. You will be asked to pay some fees in advance and basically that will be the end of the story.

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