Introduction to TradeVtech Review:
TradeVtech purports to be one of the best brokerage firms in the market with a whole new range of offers and tools that guarantees profits and the best trading experience. It brags about how the company uses the best services available in the market to provide a hassle-free experience to its customers. However, all that TradeVtech claims is not true and in this TradeVtech review, we will tell you why we think TradeVtech is a potential scam. If you are here with the intention of knowing whether TradeVtech is a scam or legitimate, read the full TradeVtech review and let us know your experiences in the comments down below.
In this section of the TradeVtech review, we will be discussing all the red flags possessed by TradeVtech.
Is TradeVtech regulated by any of the regulators?
TradeVtech claims to operate under the brand name UMedia LLC. Furthermore, the company does not specify as to where exactly the company is based in or regulated with. When we checked with the regulations, we found out that TradeVtech is actually not regulated by any brokerage firm and is based in Saint Vincent and the Grenadines. From this, it has become obvious that TradeVtech is UNREGULATED. We do not recommend our readers from trading with any broker that is unregulated or is based in offshore zones such as Saint Vincent and the Grenadines. This forms the first red flag in this TradeVtech review against the TradeVtech scam.
What is the leverage offered by TradeVtech?
To make matters worse for themselves, TradeVtech does not reveal the leverage offered to their customers. The leverage plays a very important role in deciding whether the trader will lose the trade or get profits. If the firm provides huge leverage, it will directly affect the trader and might make them lose the trade. On the other hand, if the leverage offered is low, the winning chances of the trader are higher. For the same reason, various companies have capped the leverage that can be offered in their countries to reduce the loss risk.
What is the minimum deposit demanded by TradeVtech?
The minimum deposit demanded by the legitimate brokers lies in the range of 5 USD to 10 USD. This is the usual minimum deposit and readers must know that if any company is asking for a minimum deposit much more than the average, it might be a scam. In our case, TradeVtech demands a minimum deposit of 250 USD. Apart from being much more than the average minimum initial deposit, 250 USD is the most common minimum deposit demanded by scam brokers.
Conclusion: Is TradeVtech a scam or legitimate?
To sum up, all that has been said above, we can conclude this TradeVtech review by saying that TradeVtech is a potential scam. We recommend our readers stay away from this unregulated brokerage firm. If you have been scammed by TradeVtech, just fill the form given above and we will help you!
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