Textrade Review – Can The textrade.finance Broker Steal Your Funds?

Textrade Regulation And Safety of Funds

Textrade is one such one-page broker that tries to squeeze everything onto one home page. This makes the entire broker feel like an intermediary source. It’s very superficial and poses a risk to everyone.

Three points need to be made clear, and each is in conflict with the others.

First, the claim in the legal documentation that the applicable laws of Saint Vincent and the Grenadines are the applicable laws is made. This country does not have an FX regulator but has authorities that appear to not care about the influx of fraudsters. Textrade may be adhering to these laws but It only smears the broker’s reputation.

The footer shows a complete departure from what was mentioned above. The footer claims that the firm is regulated under the Financial Services Regulation Scheme. However, this does not matter because the regulator doesn’t exist. It does have its own website but that is just part of the scam. The Financial Services Regulation Scheme is a fake regulator. This is part of a new trend in which scammers are shifting to a more convincing strategy.

The footer includes a address in Greece. This suggests that Textrade is licensed by the Hellenic Capital Market Commission. However, this would make Textrade a European brokerage. Textrade’s behavior is certainly not one you would expect from an EU broker.

Textrade is a fraud and a danger to everyone. It is also not regulated.

Textrade Trading Assets

The site lists the following assets as available for trading: forex currency pairs, cryptocurrencies, indices, commodities, shares, and bonds. Textrade seems to be focusing on cryptocurrency as its primary asset type. This is a sign that the broker may be a risky, since unlicensed cryptocurrency brokers can pose a greater danger than traditional FX or CFD illicit brokers.

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

Textrade: Maximum Leverage, Deposit and Withdrawal

There are no leverage values anywhere to be talked about.

Textrade is a fraud, so the broker is very ambiguous about the payment methods. These payment methods include bank transfer and credit cards.

Textrade doesn’t know what it does because bank deposits can take up to 45-days, according to some reports. According to the site, withdrawals can take up to 48 hours, but it can take up to five days. This type of contradictory information is common for scammers.

No minimum deposit was required anywhere. With scammers you never know what you might get o their sites, but on the user area its almost always different than on the site: usually it’s $1. This gives the broker more opportunities to con users.

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 – Uptos, EduTrend, SF Trading.

Textrade: 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 Textrade. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about Textrade!