Read our Tradevarfx review to see if this broker is a scam or legit. Just to clear doubts, this is a tradevarfx.com review.
Who does not want to enjoy the profitable opportunities that the financial markets have to offer? They are very tempting and many people are eager to start exploring them as quickly as possible. But, this does not mean that you make compromises when it comes to choosing a broker just because you want to get started quickly.
After all, the brokerage is responsible for providing you with the trading platform, tools, conditions and other features essential for the purpose.
Thus, you want a company that can offer you quality and professional services and finding one is harder than you think. It is because brokers like the one this Tradevarfx review highlights have become quite widespread.
A little bit of research will help you discover the numerous stories of fraudulent and scam companies that masquerade as legitimate ones in order to fool people. Their intent is primarily to con them out of their money, which they do accomplish.
The number of such platforms has increased exponentially and more and more people are falling prey to their tricks. Some people become their victims because they are in a hurry to start trading and do not do their homework properly.
Therefore, they end up with a brokerage that is shady or fraudulent. In other cases, the scammers are too good at creating a false front and come off as authentic, which prompts people to fall into their trap.
Obviously, you want to avoid this scenario because it means nothing more than disaster and this can only happen when you make the effort to get to know the truth about a company. This requires you to go over its offerings, something you should do in the case of Tradevarfx that appears to have a very convincing website.
You will find that Tradevarfx is promising access to a wide range of trading instruments ranging from ETFs, stocks, forex pairs, bonds and options, and award-winning investment services too. But, when you go through its offerings properly, the truth you uncover is entirely different. What will you find? Let’s go over it:
Licensing and regulation
When you are digging into any online broker, it is best for you to start with their licensing and regulation. If a company is not licensed to provide its trading services, it is safe to assume that it is up to no good because an authentic platform would always be willing to make the effort to get regulated.
Genuine companies will have a license and scams are likely to be without it, so checking the license can save you from a big headache down the road.
The same approach should be taken with Tradevarfx and when you do so, you will find that this brokerage is actually a clone website. This means that it has copied the details of a genuine and legitimate broker to fool people into believing it is one.
TD Ameritrade is one of the top forex brokerages operating in the United States and Tradevarfx has copied its entire ‘About Us’ section. The only thing the scammers have changed is the name of the broker, otherwise it is all identical.
As a matter of fact, they have gone as far as copying the corporate background as well, which makes Tradevarfx come off as a very convincing and authentic company to those who don’t know any better.
Therefore, you should run the broker’s name in the registers of the official regulatory institutions of the United States, which are the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA).
This is when you will come to know that Tradevarfx is not listed, which means all the information on its website is falsified. Essentially, it means you are dealing with an anonymous brokerage because you know absolutely nothing about it.
There is no phone number, or corporate address on its website and the only piece of information is an obscure email that is not much help.
The primary feature of every single online broker is the trading platform because this gives you access to the financial markets. There can be no trading without this platform, so it is the most vital feature that a company can offer to you.
Hence, it is understood that you want a sophisticated and innovative solution that can help you make the most of your trading. You are promised powerful trading platforms at Tradevarfx, but it is not what they deliver.
In fact, when you check out their trading platform, you will discover that Tradevarfx is not offering a functional platform at all.
You will find a funny looking dashboard on its website once you have registered with them, which gives you only one option; deposit. There is no option of trading, but it does ask you for money, which makes it pretty clear as to what its real intentions are.
One of the most vital pieces of information that seem to be absent from the Tradevarfx website is its trading conditions. It does not disclose what kind of spreads it offers and has not disclosed the leverage offerings either.
Likewise, even though it has not outright mentioned its minimum deposit requirement, the broker does recommend that you deposit at least $2,000 in order to get bonuses. Such a deposit is extremely high, especially when you are giving a new broker a try and the lure of bonuses should be avoided because they are rarely in your favor.
When you check out the payment methods that Tradevarfx supports, you will find that it is claiming to offer you bank wire transfers, e-wallets and checks, but this is quite far from reality. The truth is that the brokerage is only supporting crypto payments i.e. bitcoin deposits.
This is yet another indication that you are not dealing with a legitimate brokerage because it is lying about payment methods and is supporting the one option that does not offer you a chargeback and gives them anonymity.
The truth about Tradevarfx is quite evident from its cloning, lack of trading platform and outright lying, so you should avoid this brokerage at all costs.