Read our Trader Hub review to see if this broker is a scam or legit. Just to clear doubts, this is a traderhublic.com review.
Online brokers have increased exponentially in the last few years, as people are looking for alternative investment methods and trading is considered one of the best options. But, you have to note that the quantity does not translate to quality, which means that all brokerages in the market are not reliable and professional.
Sure, they might portray themselves as good options, but this does not necessarily make it so. Many of the companies are downright fraudulent and checking them thoroughly can disclose some disturbing facts about them, as this Trader Hub review shows.
It is not possible to distinguish between scam and genuine brokerages just by looking at their website. On the surface, their websites appear to be quite similar and they obviously make some big claims to draw in traders.
But, this does not mean that they are being straightforward about what you can expect from them. Many a times, even legitimate brokers may make promises they cannot keep. As for scam brokers, all you have to do is take a close look and their story will begin to fall apart.
Once that happens, you will be able to avoid the broker and opt for one that is authentic and can provide you with a seamless trading experience. If you skip this step, you will end up getting defrauded and the consequences can be disastrous when your savings are at stake.
A little effort can save you a lot of headache in the long run. It is better to be safe than sorry when your goal is to make profits and minimize losses. You should apply the same tactic when you come across Trader Hub that presents itself as a dependable forex broker.
A quick glance will leave you impressed because it looks like a good package, but a closer look shows some disturbing facts about Trader Hub that prompt you to reconsider. What are they? Let’s check them out.
Absence of licensing and regulation
The first aspect of a brokerage that needs to be assessed is their licensing and regulatory status. A licensed and regulated company can offer you protections that you cannot get otherwise. This is because they have to comply with laws and rules and can also be held accountable.
They are also required to maintain quality standards in terms of services. Plus, it also reduces chances of a scam.
Hence, dealing with a licensed and regulated brokerage can give you peace of mind. When considering Trader Hub as your trading broker, you should check out its licensing and regulatory status. This is where you will discover that the company has not mentioned anything on their website about a license, or their regulation.
Opting for unlicensed and unregulated entities is not recommended because they cannot offer you the same protections as their licensed and regulated counterparts. This is because they are mostly offshore companies that can disappear without any warning. The same is true in the case of Trader Hub and this means you cannot trust it at all.
Malicious bonus policy
If you are looking for more disturbing things about Trader Hub, all you have to do is check their Terms and Conditions where you will find their bonus policy. The first thing you should note is that the bonus itself is a big problem.
Many regulated jurisdictions in the world have forbidden the offer of bonuses to retail traders because these come with exploitative clauses. As far as scams are concerned, they use bonuses to prevent people from withdrawing their money.
You will find this to be true in the case of Trader Hub because its bonus policy is downright malicious. When you go through it, you will come across the condition of achieving a specific trading volume before you are allowed to make a withdrawal.
The problem with the trading volume requirement is that it is deliberately kept high to make it impossible for people to achieve it.
Thus, when you get a bonus on Trader Hub, you will not be able to make withdrawals and this will give them the perfect opportunity to hold your money while you are unable to do anything about it.
Lack of trading software
Another disturbing feature of Trader Hub that you discover is the lack of trading software. The trading software is the most vital feature that an online broker offers because it is to be used for executing your trades in the market.
You will not be able to trade without a software and there are different types of platforms that you can find in the market.
Of course, the features, tools and offerings vary from platform to platform and you want to get the best from the broker you sign up with. Unfortunately, you will not be able to find this with Trader Hub, but the disturbing part about it is that it does not seem to have a trading platform at all.
In lieu of a trading platform, what you will find at Trader Hub is a chart that does not allow you to trade at all. The chart is available for free on Trading View and you do not need to open an account with Trader Hub to make use of it at all.
This makes it apparent that the broker is only offering the chart to create an illusion of a trading software in order to fool people.
Crypto payments only
When it comes to deposit methods, you will find that Trader Hub only offers support for Bitcoin payments and this is a major problem. While there is nothing wrong with crypto payments, the fact that there are no other methods available is an issue.
This is because there can be no refund or chargeback, as in the case of credit cards. Crypto payments are final and irreversible and they also offer people anonymity, which makes it a preferable option for scammers.
Ending Thoughts
These disturbing facts show that Trader Hub is not the kind of broker you want to use for your trading needs.
