Pretraders Review 2024 – A Leading Online Scam Platform

Do not get fooled by the corporate-looking website and its lucrative promises. This platform is a fraudulent tool for deceiving unsuspecting traders and investors. It’s a scam just like Dexspacex, and we have plenty of evidence to support that claim.

Read our full Pretraders review to learn the truth about this monkey business and its scheme. We can help you recover your hard-earned funds.

Legal Info: Is Pretraders Regulated?

The Pretraders broker has copied its image from another offshore provider, Bigmarkets. This platform is also the trading brand of Saint Lucia-based Tоmоrrоw Technologies Ltd. The legal documentation is also suspicious. We can say for sure that this business is not sufficiently regulated.   

Therefore, Pretraders is not eligible to operate under reliable jurisdictions such as the European Economic Area (EEA), which has common ESMA market regulations and requires a MiFID passport for all participants. European brokers provide clients financial compensation, segregated funds, negative balance protection, and other safeguards.

Instead of trusting anonymous imposters, we recommend choosing firms regulated by recognized financial authorities like the FCA (UK), ESMA (EEA), CFTC (US), ASIC (Australia), IIROC (Canada), and MAS (Singapore). 

Who Are Pretraders’s Targets?

According to WHOIS, the pretraders.com website domain was created on November 1, 2023. Since then, the digital con artists behind the platform have mainly been targeting unsuspecting traders and investors from the following jurisdictions: 

• United States
• United Kingdom
• Netherlands
• Sweden
• Cyprus

All these countries have rigid financial rules to fend off online fraud like NGCB, ensuring their markets are tightly regulated. Three of the five are EEA members. Operating without the proper approval is illegal, and Pretraders does just that! 

Trader Reviews – Sharing Experiences

We found several negative Pretraders reviews on scamadviser and personal-reviews. Users outlined classic scam elements that characterize this plot. “I was unable to withdraw on this platform after making huge investments” is a common theme in the comments.  

Swipe the shady broker’s website through a webparanoid, and you’ll see that it has been flagged as “suspicious” due to a low trust score, hidden content, and poor traffic. 

Attention to user feedback is essential for finding reliable companies and dodging scams. Before diving into any investment, take a moment to hear what fellow traders and investors say about the platform. Honest reviews like ours can be your guide.

Which Trading Platform Is Available?

The website does not offer a downloadable desktop or mobile app. The Pretraders platform is just a browser-based interface with ineffective tools. It’s too bad the Pretraders login page blocked us from testing it. Nevertheless, we have already proven how fraudulent this business is, so using the terminal would be a terrible choice.

The broker’s shady background and reports of manipulation make the terminal too risky. We recommend avoiding it and opting for a licensed provider that supports reliable third-party software like MetaTrader 4, MetaTrader 5, or cTrader.

These platforms offer advanced tools like automated and algorithmic trading, sophisticated charting, multiple timeframes, live market reports, and expert advisors.

Pretraders account types

Trading Info – Leverage, Spreads, Commissions

Allegedly, some of these account tiers come with zero fees, which is odd considering that broker firms generate revenue through commissions. The spreads for the lower tiers remain undisclosed. As for the maximum leverage, the unscrupulous broker promises 1:400, which is extremely high. 

Here’s a tip for leverage trading: don’t jump into it unless you’ve got a lot of experience. High leverage can be super risky and lead to significant losses, so there are strict limits for retail clients in Europe and Australia (1:30) and North America (1:50).

Can Traders Use a Free Demo Account?

Pretraders skips the demo account, pushing traders to deposit real money immediately. This sneaky move allows tricksters to snatch your funds before you realize what’s happening.

For beginners, starting with virtual funds is a must. Don’t put your cash on the line from the start. Trustworthy brokers always offer risk-free trading, so why gamble with shady platforms?

Deposit and Withdrawal Process

The website lists several payment methods for depositing and withdrawing funds:

• Credit/debit cards
• Wire transfers
• E-wallets (PayPal, Skrill, UnionPay)
• Cryptocurrencies

Depositing funds might be straightforward, but getting a withdrawal is problematic. Many users have pointed out that that’s a different story in their reviews. If you cannot get a withdrawal, it’s time to consider other ways to recover your money.

If you paid with a MasterCard or Visa credit/debit card, you can try to get a chargeback from your bank within 120 days of the transaction. 

You can attempt to recall the transaction through your bank for wire transfers, but this only works if the funds haven’t already disappeared into the scammer’s account. E-wallet reversals require you to contact the issuer directly and request a chargeback.

Retrieving crypto payments is infinitely more vexing. Recovering stolen digital assets is trickier and involves using advanced software like CipherTrace and getting professional help. Fortunately, our team is here to guide you through this complex process.

Key Facts To Consider About Pretraders

Pretraders is a pure sham targeting mainly traders from the US, UK, Netherlands, Sweden, and Cyprus. This bogus website copies content and promotes illicit services. 

We do not recommend trading on such platforms due to their unregulated status. If you are a victim of the Pretraders scam, you must seek our professional help to recover your funds! A chargeback is your best option.

Use the form below to book your free consultation with Scam Brokers Reviews and tell us more about your case. Our team will gladly guide you through the fund recovery process and assist you every step of the way.

Book your free consultation here and start the chargeback process.

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