PoloTrade365 Review – Is polotrade365.com Broker Scamming People?

Is PoloTrade365 Scam or Legit?

Polotrade365 is an interesting broker. It is not regulated at all, making it very risky for your money. The company claims that it will protect your best interests. The company claims that trading with them is easy and profitable, and that they are reliable and legitimate. This is obviously false.

The firm also lies about its address, in addition to the lack of regulation. The firm also offers a lot of fraudulent promotions. These are all signs that it is a scam. Trading without it being accessible is also a red flag of a scam. You will need a referral code to open an account. You will see the error message below when you sign up without one.

Legitimate firms do not require such codes. At the very least, they will allow you to open a demo account so you can see if trading with them makes sense. Scammers love the exclusivity that referring others brings. Another red flag is this.

Even if we had the code, trading with Polotrade365 is not something we would recommend. The broker is not a good choice for clients who can only trade Forex and Crypto CFDs.

Polotrade365 License and Regulation

Here’s what Polotrade365 has got to say about its regulation.

“Company AAA” refers the broker. It seems that the people behind it used generic texts they were too lazy or ill-informed to modify to fill the page. The claim isn’t convincing. The firm is not yet regulated because it is still new to the market. It claims that it is working towards obtaining a license. Take a look at the address it claims it lives at, as shown below:

The UK is one the most strict markets in the world. It is supervised by the FCA. This requires brokers to be licensed before they can offer their services. Polotrade365 is lying about its address because it would be illegal to offer services there. The company is likely to be from an offshore scam haven that does not regulate Forex markets. It is risky to trade with these brokers.

We also noted that the broker’s website has been around for less than a year as it first appeared online in April 2022.

Choose only trustworthy and reliable brokers. You can read about the best ones in our article Best online brokers in 2023.

High Trading Volume, Bonuses, Fake Profits and Withdrawal Fees

Polotrade365 offers a welcome bonus. Although it doesn’t explicitly state this, these promotions are often subject to strings. These promotions often come with additional trading conditions that must be met. Redrawing is forbidden before this is accomplished. The broker will usually set the trading volume. It is virtually impossible to achieve this volume, so you will practically be banned from withdrawing. Avoid such companies and instead, look for licensed businesses that offer legitimate promotions.

Scammers also use bonuses to discourage withdrawals. They will often pretend that their clients are extremely profitable and call to ask you for more money so they can keep winning. Any winnings you make are fake and you won’t be allowed to withdraw them. These companies charge withdrawal fees that can reach up to 30%, 20, or even 10% of your funds. Brokers are not likely to ask for withdrawal fees nowadays. If one does, and wants such large amounts, it is obvious that you are dealing in a scam.

Every day new scam brokers and trading bots appear on the web with only one goal – to steal your money. We have already exposed some of them, for example – Everrise Brokers, MilleniumOne, Stam Capital Invest.

PoloTrade365: Reviews and Reputation

Despite all our evidence, the broker has a high rating on Trustpilot. But I know of many situations where bad companies have bought reviews to build a positive reputation.

Among all the evaluations there are negative ones. Here is one of the comments:

PoloTrade365: Video

You can also write a comment under the video on our YouTube channel to tell other traders about your experience. But if you’ve already been a victim, contact us for a free consultation by filling out the form at the top of the page.
Below you will find a short video about PoloTrade365. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about PoloTrade365!