As I perused the tradesto.com website, it proved challenging to stifle a chuckle. The site was riddled with fractured English, and sprinkled throughout were a handful of sentences that made little sense.
However, the gravity of the situation quickly quashed any amusement. This sham trading platform successfully duped a significant number of investors.
For an in-depth exploration of the perils associated with unregulated brokerages, delve into our comprehensive Tradesto review.
Dissolved and Expelled from the Market
The claims on the current website regarding SVG headquarters and a South African office are baseless. SVGFSA has no record of such operations, and the FSCA has never issued them a license.
Tradesto was previously registered in Vanuatu but faced a VFSC strike-off in 2021. In the same year, their subsidiary with Malaysian ownership, Tradesto UK Limited, was dissolved.
These actions followed numerous warnings from regulatory bodies such as FCA, IOSCO, SC, CONSOB, and AFM. Unfortunately, their domain, dating back to 2012, remains active, accepting deposits. It’s wiser to opt for a reputable broker to avoid risking losses with Tradesto.
Tradesto: A Vintage but Not a Valuable Find
The Tradesto trading platform made its debut in late 2012, making audacious claims like a guaranteed 62.3% return on investment for clients. Tradesto primarily targeted these regions:
- Myanmar (Burma)
- United Kingdom
It’s safe to say that Tradesto is a company that has seen better days. No amount of advertising could revive their fortunes, leading them to resort to tactics similar to Btyex, employing boiler room agents to promote their services.
These persistent and persuasive agents relentlessly pursue potential investors, gradually demanding larger sums of money.
If you have invested with Tradesto and need assistance with asset recovery, consider seeking professional help.
Despite its long existence, Tradesto’s online presence remains relatively low. Few users have rated their services, as evidenced by their lackluster Trustpilot page.
With an average rating of 2.6 out of 5 and regulatory warnings against them, Tradesto’s presentation doesn’t instill confidence or interest in investment.