TradeSafer Review – Play Safe, Invest With Another Firm

False licenses, fake legal data, worthless trading software and nonexistent customer support, this one ticks all the boxes. Everything you’ll see with this website is a bunch of lies intended to keep you occupied while you squander your investment pretending to trade.

Don’t let your funds go to waste! See the remainder of our TradeSafer review to learn how to get your money back.

Impossible To Track Down 

Establishing a realistic connection between the website information and legal databases is next to impossible. First, there’s an address in Switzerland, but this firm is not known to FINMA. 

Neither do they appear in the FCA register, although there’s also an alleged office they run in the UK. The registration number they claim is theirs actually belongs to Trade Safe Products Limited, whose nature of business isn’t online trading at all. 

The conduct is also not regulated by any other Tier 1 regulatory body, such as BaFin, CySEC and NFA. That is a proof that segregation of funds is not implemented and neither are compensation schemes and negative balance insurance. There’s numerous companies out there that claim something only to appear more credible. CoinDres is also one of them, yet owns no legit license.

Piggybacking On An Old Domain

Allegedly, this firm has been operating since 2011, and if we look at the WhoIs database we can see that the tradesafer.com domain was in fact created in 2012.

This is not the entire truth, however, as the domain started hosting the fraudulent website only in May 2023. Further analysis revealed that the scam targets these nations:

• Australia
• United Kingdom
• Hungary
• Netherlands
• New Zealand

The fraud works through boiler room agents, who endlessly call people by phone in search of a victim. This strategy is common among scammers, as Petron Capital uses it as well.

Agents usually present themselves as some kinds of experts and account managers who seek new investors. It’s all a trap, however, and recovering the invested capital is nearly impossible without professional help.

Trading Terms Compromise Safety

Some false online trading portals advertise trading conditions that not only break the current legislation but also border gambling. If this company was properly licensed and supervised in the UK, they would not be able to offer leverage higher than 1:30.

However, the maximum leverage allowed on this platform increases with the amount of cash you decide to waste on useless account types. The current highest ratio is 1:500.

The trading terminal itself doesn’t reveal any purposeful details. You can’t even find spreads, commissions or anything else for that matter. The only other fee mentioned is the monthly maintenance fee of $50. 

Hidden Bonus Conditions

The company may add bonuses to the clients trading account at its sole discretion. The amount of these rewards isn’t publicly posted, but the terms that follow these obligations are cruel. No withdrawals of funds from credited accounts is allowed until the trading volume requirement is reached. That sum is equal to the amount of bonus multiplied by the leverage used.

Barebone Trading Utilities

The features that you’ll see after creating a TradeSafer login are quite different from what is advertised. The trading application is barely functional, and the client dashboard is prone to bugs that diminish its useability as a whole.

It didn’t take a very thorough analysis to come to the conclusion that these fraudsters simply don’t care about the trading environment.

Borderline Useless Software

The alleged “optimized trading platform” is a simple web trader that barely functions. It only supports selecting assets, viewing candlestick charts and placing an order. Although there is a button that should open the economic calendar, it leads to a blank page instead.

This is all by design, as at the end of the day scammers don’t want you to succeed, they want to steal your money as efficiently as possible. Many of them actively tamper with market prices to make their clients lose money on every speculation.

Trading Instrument Selection

There is a relatively good diversity of trading assets, on par with many mainstream brokerages out there. The problem is, no matter how good the selection of instruments, any trading with the platform is completely fictitious.

Here’s the range of assets we found:

• Forex – EUR/USD, AUD/NZD, GBP/CHF, USD/JPY
• Cryptocurrencies – BTC, ETH, XRP, LTC, LNK, DOT, SOL
• Stocks – Ebay, Chevron, Intel, AT&T
• Indices – Nasdaq, Dow Jones, IBEX, DAX, FTSE
• Commodities – Silver, Gold, Brent, Natural Gas, Corn, Coffee

Ripoff Accounts

All of the trading accounts are live, and quite costly. If people had access to a demo, they’d quickly start having second thoughts about investing anyway.

These are the account tiers offered by TradeSafer broker:

• Silver – $10,000
• Gold – $50,000
• Platinum – $100,000
• Diamond – $250,000

Allegedly, the more expensive account types come with benefits like deposit protection and 24/7 account monitoring, whatever that means.

Cashing In Profits

The existence of real trading is uncertain here, so all of the profits accumulated may as well all be fake. The toughest part is still the clients’ ability to take what they’ve originally deposited. In order to prevent that, the fraudsters slap bonuses on every trading account. Rewards come with expectations impossible to reach in order for the funds to unlock.

Withdrawal requests are created from the user panel. When we attempted to see into the matter and determine what methods are available, nothing was given. The site constantly urges traders to contact the support team, but that is a futile attempt as well. 

No Customer Service

Getting the customer support to answer your ticket at this site is, as it currently stands, impossible. The live chat is only available through the client dashboard, but even then it doesn’t really work. Any emails we tried to send bounced back, and nobody answered the support phone line when we called.

Money Taken By Scammers? Get Help Here!

Right off the bat, we’ve had multiple issues verifying the TradeSafer regulation. As it turns out, the company is completely illegal, and is operating a scam site. The trading environment has a nearly useless web trader and leverage that will quickly burn a hole in your pocket.

Avoid dealing with any firm that doesn’t have proper license and authorization issued by a Tier-1 regulatory entity. If you’ve already invested funds with TradeSafer Forex broker, feel free to contact us for help with acquiring reimbursement.

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