Tradingexpo Review – What Is Wrong With tradingexpo.net Broker?

Tradingexpo Regulation

When evaluating the legitimacy of a financial services provider, it is important to find clear and detailed information on their website regarding the company’s ownership, operation, location, and licenses held. Genuine brokers also make available a comprehensive set of legal documentation.

However, it is crucial to note that the presence of such information does not guarantee its authenticity or accuracy. Nevertheless, the absence of these elements strongly suggests that you may be dealing with fraudulent individuals.

In the case of Tradingexpo, it has already been highlighted that the platform operates anonymously, which raises significant concerns about its legitimacy.

Moreover, the only means of communication provided is through email, and the website lacks access to essential documents like Terms and Conditions or a Customer Agreement. Engaging in financial transactions without knowing the true identity of the involved parties and without understanding the terms and conditions would be highly imprudent and risky.

The suspicions regarding the trustworthiness of Tradingexpo have been substantiated by local financial authorities in Canada, who have included the platform on their blacklist.

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 – Coin-Royal, Top-Market.Io, Unicorn FX.

Advantages of Working with a Licensed Broker

When considering investing in financial instruments, it is essential to be cautious of the abundance of fraudulent brokers present in the online space. Take diligent measures to verify whether the chosen broker possesses the necessary licenses.

Engaging with a genuinely authorized and regulated company overseen by reputable regulatory institutions like the UK’s Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Commodity Futures Trading Commission (CFTC) in the US, or Australian Securities and Exchanges Commission (ASIC) offers numerous advantages. Clients of these brokers benefit from safeguards such as negative balance protection and the segregation of client funds from those of the broker.

In the EU and the UK, brokers are also required to participate in guarantee schemes that protect a certain portion of a trader’s investment in the event of the broker’s insolvency. These guarantees cover amounts of up to €20,000 in the EU and £85,000 in the UK. However, the likelihood of such bankruptcies is low due to the substantial net capital requirements imposed by regulators. For instance, companies in the UK and Cyprus must maintain a minimum net capital of €730,000, while Australian firms require at least AUD 1,000,000, and in the United States, the minimum is set at 20 million USD.

Tradingexpo Maximum Leverage

Tradingexpo promotes a maximum leverage of up to 1:500, which is not a common offering among regulated brokers. It’s important to note that trading with high leverage can potentially yield higher profits, but it also amplifies the risk of significant and sudden losses. Regulatory bodies responsible for overseeing financial markets typically impose leverage limits to protect retail traders.

In the EU, UK, and Australia, the maximum permitted leverage is 1:30, while in the US, it is set at 1:50. Moreover, these limits usually apply to trading major currency pairs, with even more restricted leverage for volatile assets.

Another concerning aspect of Tradingexpo’s services is their promotion of bonuses, which is a practice widely prohibited by financial regulators. Scammers often employ the allure of seemingly generous bonuses to ensnare unsuspecting victims into unfavorable terms. Unfortunately, Tradingexpo does not provide transparent information about the specific conditions tied to their bonuses.

If, despite the risks associated with high-leverage trading, you are still inclined to pursue it and wish to explore bonuses, promotions, and prize games, a potentially safer option would be to consider offshore brokers operating under established and reputable brands.

Tradingexpo Accounts

Tradingexpo offers four types of accounts.

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

What Should I Do If I Am Scammed by Tradingexpo?

Dealing with scams can be a challenging situation, and it’s important to understand that tackling them individually may have limitations. We strongly urge our readers to reach out to our dedicated staff for assistance. The more evidence we gather, the more swiftly we can endeavor to help you reclaim your funds.

If you or someone you know has fallen victim to a scam, we encourage you to contact our team promptly. Our online chat feature offers the quickest means of communication and allows you to receive a free consultation. Remember, it is crucial not to lose hope. By taking immediate action, your chances of recovering your money improve significantly.