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70trades Review - Is it scam or safe?

70trades Review - is 70trades.com scam or good forex broker?

RATING: 1 / 35 REVIEWS
70trades is an offshore broker. Your money is not safe.

 Trading Accounts

Account type  Minimum deposit  Maximum leverage
Spread
Entry Level
$200 1:200 Fixed, from 3.0 pips
Advanced
Unknown 1:200 Fixed, from 3.0 pips
Pro
Unknown 1:200 Fixed, from 3.0 pips

 

70trades  is a forex broker, offering three account types. While we couldn't find the qualification criteria, to get a better account type, we did a lot of research on the broker and will be presenting it in this review.

 

The Company. Security of Funds

 

Company Country Regulation
Commodius FX  Ltd. Vanuatu VFSC

 

70trades is owned by Commodius FX  Ltd., a Vanuatu registered broker. The local Vanuatu Financial Services Commission - VFSC regulator is better than nothing, but we would still not recommend trading with an off-shore company.

 

The island of Vanuatu is a bit of a hot-spot for dishonest forex brokers. This is mainly due to the fact, you only need $2,000 in order to open a new brokerage there. Of course, not all companies registered there are scammers, but this lack of strictness does attract scammers and ruins the island's reputation.

 

Regulation should be an important factor for you, when comparing forex brokers. A company which is registered under the Australian ASIC, for instance, has to keep clients funds in segregated accounts. This effectively means, the broker can not freely access clients' deposits and spend them in any way. Additionally, ASIC requires AUD 1 million in capital holdings from new brokerages, as a sign of good will. Compare that with the $2,000 requirement in Vanuatu and you will see our cause for concern.

 

Trading Conditions

 

Minimum Initial Deposit

The initial deposit requirement at 70trades is $200. This is a higher than what most other brokers demand. Some even go extremely low, like FXTM which only requires $5 for your first deposit. Keep in mind the minimum requirements should only be used for testing a company's service. A long-term trading system has to be backed by adequate capital.

 

Average spreads & Commissions

70trades offers fixed spreads, starting from 3 pips for EUR/USD. This is above than the current industry average. Other fixed spread brokers offer much better conditions, with easyMarkets going as low as 1.0 pip on EUR/USD. While fixed spreads offer some form of stability, you may also want to look into floating spreads.

 

Leverage

The maximum leverage, offered by 70trades is 1:200. This is in line with offers by other brokers and definitely enough for a sensible trading strategy.
 
High leverage can be a double-edged sword, as it amplifies both your winning and loosing trades. In fact, it can be so dangerous, US regulators decided to set a cap for the levels offered to retail clients at 1:50.

 

Trading Platforms

 

70trades offers the PROfit trading platform. At first it does feel a bit weird, when compared to other platforms. The chart window is relatively small, but this can easily be adjusted. Other than our dislike for the classic layout, everything else seems to be intuitive.

That being said some forex veterans will miss their favorite custom indicators and automated systems, available for MetaTrader4.

 

Methods of Payment

 

70trades offers quite a few payment methods. They include the typical Bank Transfer, Credit/Debit Card and e-wallets such as Skrill, Netteller and Weboney.

 

Conclusion

 

70trades is a forex broker registered in Vanuatu. The company is under the oversight of the local VFSC. We generally have a bit of distrust to off-shore companies. Trading conditions at 70trades are worse than current offering by other brokers. Additionally the trading platform isn't spectacular. It certainly does the job when it comes to manual trading, but we felt we missed a lot of little details, available in other platforms. Furthermore the websiteis missing some key details, creating an overall feeling of sloppiness. Here is a list of this broker’s pros and cons:

 

Pros Cons
  Off-shore regulation
  High Fixed spreads
  Not a standard trading platform

 

 

Latest news about 70trades
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Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

Traders` reviews for 70trades

Scame & fraud

Hii
I am Sonu kumar from Bihar. I want to write in hindi language because this is my mother tongue. And i am writing :-
Read this carefully:

Sabse Pahle ye bussiness sabkliye nhi h . ye business unhi logo k liye h jink pass bahut sara money ho. Agar kuchh doob jaaye to koi fark na pade. Ajmane waale door rhe kyuki money doobna tay h.Jaanne ki utsukta ho to contact this number 09015524063.
Better Advice.

Sonu Poddar 02/17/2018

Fraud

How Can I get my fund which I invest in 70trades can you give me idea for this.

Amit 02/16/2018

Mismanagement and making client fool

70 trades Indian employees motivate me to open an account and put 200 dollers but in demo account they have shown good responsibility but after that all the time they advise me put money I have put money. But till date I cannot take withdrawal. They make position and without stoploss they advise to client to do work. Because their motive is to do put more money. I told him I am going USA and do work from their but they have not done any help. My account has block and they never care about it. In two days they are saying technical problems. I cannot understand what type of technical problems is their.

Pushpa Rawat 01/30/2018

Withdrawal amount no response

No response no call back totally f*ck company is this company plz don't open in ACCOUNT in this company. Plz save your money this is totally f*ck. These dogs eat my money. No back my money. Pane cchood.

Amjad Saleem Khan 01/29/2018

Sign agreement to withdraw?

I deposited $200 and want to withdraw. They are asking to sign 7 page agreement, without which they will not process the withdrawal.

Is it safe to sign the agreement.

Hussaini 01/15/2018

Misstruested people

I have requested to withdraw some money since 29th December, till today 10th January, the transaction is not yet done.

Ali Amour 01/10/2018

Withdrawal of profits from 70trades

I can now understand why 70trades are considered a scam, anyway, in my opinion. I have started to invest with the required U$ 200.00. For the past month my profits has grown to an amount of U$ 850.00. Upon my withdrawal request there seems to be so many issues with paper work to advance my money. The portfolio manager continuously ignore or respond but just with another paper to be completed. What I don't understand is that they are calling me from Swansea, South Wales, England but your research indicate otherwise? Are the brokers stationed in England? I was about to follow up with the local British embassy and filed a fraud complaint but not sure if anything will suffice from the action. I will definitely approach interpol to get to the bottom of the validity of 70trades. Kindly advise on any other action to be taken if possible.

Namibia greetings
Sakkie Mouton

Sakkie Mouton 01/05/2018

70trades.com is a professional scammer

Dears,

Do not invest your single money to 70trades.com. I scammed by those bastards. They are using secured socket layers and https to scam the people. I lost a big amount within 2 weeks. They nicely eated my money. My account manager was Shivraj from chennai sitting in London office(Shivraj, you bastard you nicely cheated me) his number is +44 1792 680120 and customer care stupid lady Anna Thomas + 44 800046 5424 at [email protected] I requested refund last week 27th of dec 2017, but they didnt refunded me. Today 3rd January,2018, when I opened my account it is zero. It was 26000 USD last week. They will do backend systems to squeeze your trading. I didnt do any trading. Everything was done by Shivraj my stupid account manager. I was lucky that yesterday(2nd jan, 2018) he called me again to invest 2000 USD more to escape from 0.50 margin. Oh God you saved me that 2000 usd. Otherwise, i will lost another 2000 usd also. I will expose those bastards of 70trades in everywhere in social media with voice clips, email communications and screenshots. Please guys do not waste your 1 dollar for those bastards.

Rayes 01/03/2018

Not returning money for more than a month

I am a new trader using 70 trades and the so called Account managers of 70, trades are good for nothing. They dont even reply to any of the email. I was in a situation of 6000 USD loss, i wanted to take opinion, none of them had replied.

Additionally withdrawl of money is not there in customer hands. I had a account balance of 3700 USD with all trades closed and when i made a withdrawl request, i have not received single penny even after a month of withdrawl request. i had sent multiple remainders and no one responds.

The so called fraud account manager names are
Sharon ( She claims she is from GOA (India)).a
Arjun Reddy ( This fellow claims he is from India)

Srikanth 12/29/2017

70trade is a scam

70trade is a fraud company please don't invest, I lost 200

Harikrishnan 12/25/2017

70 Trades - Frauds

I fell victim to 70Trades against their falls promises and insist for more & more deposits and never ever return the profit earned neither willing to return ed your deposits. I lost USD 25,600 in the avenge. Strongly feel they running a parallel platform whereby they swallow all your profit gained and show the positions going under loss until you reached to "zero" balance stating the market gone down and your account has been liquidated. To recover the loss you need to deposit more and this trend goes on & on & on and their cruelty never tired.

Highly recommend all should collectively raise the issue through legal entities and any community willing to raid their Bombay office for recovery of looted amount against high commission will be highly appreciated.

Please rescue other innocent falling prey to these bastards..

Khader Abdul Razack 12/24/2017

Never invest in such a filthy company u will be roobbed

My account manager is Ayusman a scumm scoundrelU bloody rogue Bastered this for u ayusman u scoundrel

Sent from my iPhone

Begin forwarded message:

From: Cheng TM
Date: December 18, 2017 at 8:41:25 PM GMT+4
To: [email protected]
Subject: 70tradrs scam


Dear FGB Team,


First of all Thank you for your immediate support and card dispute.
I have updated my experience with the Merchant 70 trades employee Ayushman and ANN and Looking forward for your great help.( ATATCHED SOME EMAILS AND 15 PAGE DOCS along with dispute form FOR YOUR REFERNCE)
Please note i have not signed for Credit card declaration as i found 70 Traders are fraud SCAM company , very clear from their website Reviews,almost all experienced very bad experience and their service ends with once the deposits are done .Unfortunately i had to go through sleepless nights due to UK Number call for investments and HARASSING FOR MORE INVESTMENTS.THERE IS NO SHAME WITH THEM THEY WILL CALL 100 TIMES TO GET THE DEPOSITS AND SEND NEW TEAM MEMBER TO HANDLE THE POSITION WITH ASKING MORE DEPOSITS .

Account manager will wrong position and ask further Deposits and from back end they change the position surprise to see all this i have not signed for the 10000 dollar declaration form which they sent me for signature

i had signed for 200 and 2000 which is attached along with this letter, $10,000 dollar i have not signed as i come to to know though reviews these BEGGARS bunch of gangs with out any experience in trade calling from any part of the world using uk number +441792680120 and +442038072427

intailly to gain trust they will transfer money back to our account and will ask for more money luring u can make daily 100 dollars, we have great experience, and dont do any trade without our consent, etc.... aftr that they fix us in a dilama to invest our loaned or hard earned money

Ayusman account manager of 70trades played dirty trick lure me to invest and he will take care of everything about the trade as i dont know the tarding
he was calling from june but i never invested till august, still repetedly calling and gained trust made me to invest 2000 dollars and helped me to get back this amount as his moto to take more money from me and he achived as what he want by making me to invest 10000 from FGB card as on 04/12/2017 and sent me the declaration form to sign i dint sign as he told this money will be retuened in a week to my account.and put me in the attached excel screen shot 70trades
this Ayushman the crook scoundral played his drama with putting the investment on wrong postion and asked me on 8 th to put 6000 t save my money i swiped again becuase i was worried and dont know the platform tricks .

Now i am in great Debt for just done whatever they say in phone and signed and sent docs as adreess proof all i attatched.

please note i have not signed the declaration for 10,000 dollars which is mandatory for them as ayusman the great account manager said my money will be back to credit card account i wrote them will sign after seeing my statement.

I am sure lot of clients will be effected as they are targeting UAE expats to invest on this platform and trick them,

As per their agreement they have to take my written approval for card approvals which i have done for only $2000 AND $200 ONLY ATTACHED FOR YOUR VIEWING

$10000 FROM FGB,$ 6000 FORM OTHER CREDIT CARDS I HAVE NOT SIGNED DECLARATION AS I AM SUSPICIOUS OF TRADES AS RED ALL THE BAD REVIEWS.

I WILL BE REALLY GREAT-FULL FOR U GUYS KINDLY GET THE MONEY REFUNDED TO CREDIT CARD
I WILL NOT ENTERTAIN ANY MORE CALLS FROM ANY OTHER COUNTRY.

THANKS AND KIND REGARDS
chengappa
-- 00971569639644
chen

Chengappa 12/19/2017

Information regarding 70 Trades

Dear Friends,

I have invested $200 in 70 trades. could you send me details about operations of this company. my mobile number is 8171817528.

sanjay mehrotra 12/06/2017

Dont even think about Investing in it- Full Fraud.

Dears,

Eventhough i do made losses in few Trading companies but started with one firm Called Bforex where i made losses and over &above once u loose the money they wont even talk to you. they are the same fraud team with New Name 70trades.

Guys dont be greedy and look for a better trading firms. I can suggest you some of them really good and if you follow the team to core u can make good money.
mesg me in personal @ [email protected]

alpha 11/29/2017

Fack company

I spent 190 dollars but when I send withdrawal request no response to me plz replay me immediately

The client AMJAD SALEEM KAHN 11/23/2017

Almost fell for this

I almost fell for the scam they called me twice today particularly emphasizing on me depositing thank God I found this reviews

Desmond 11/10/2017

Fraud company

Before depositing money from our side they will call so many times & they says they will help us for long term to earn money. After depositing they wont response properly & from our side if we put some bid the system will say sorry in sufficient balance.

Gopal Gowda 11/04/2017

Fraud company swallow all of your hard earned money.

Дear investors,

Don't Deposit money This is 100% fraud company.

Kunhunni 11/03/2017

Address of the company

They are scam.They are sitting in india malad west eureka tower 7th floor and the company name is vantage & epacific anyone who could get there and fuck them are most welcome.

shamim 10/27/2017

Address of the company

Address - india , mumbai , malad west, eureka towers , 7th floor vantage or epacific.Owners name Danial patel someone get this son of a bitch.i am an employee used to work until i know its a scam.indian clients can get there easily.

ASIF SHAIKH 10/27/2017

Calls

I've been flooded with calls by the call center guy, after one login using 70 trades

SIBONGILE NKOHLA 10/23/2017

Cheater

They take all your money, i lost 8000 dollar and they dont give you withdrawal they keep asking you deposit deposit...please start posting on their FB page and save other people from this fraud 70trades..

Farooque 10/23/2017

trading

I deposited 200 dollar,they credit my account with 400 dollar.I started
trading but no guideline is given.my account manager zoya is not available.
I have sent a number of emails but not a single mail delivered.I donot
understand what is wrong.Please give me some idea.

Thank you

pradip chhetri 10/20/2017

Dont invest money with 70 trades

Dear all

Dont trap with 70 trades, one time invest your all money they will take.
My lost 12000$

Noushad 10/17/2017

Dont Deposit

After reviewing this i also have to say Dont invest your money these people are scams because they dnt care much about you registration documents they just ask send money thats all... All good brokerege firm like etoro FXTM and XM are much better and have proper website details as well as thousands of review and proper details likewise a well established youtube channel.

70Trades has no proper websit as well as YouTube channel, see their link below you will understand what am talking about

https://www.youtube.com/channel/UClkjfvldh7dBBu_juI_G5vw

How comes 222 people subscribe to an empy channel no videos no demostrations
Nothing at all! This is a scam 100%... AGAIN DONT INVEST YOUR MONEY YOU WILL THANK ME LATER.

Fredrick Francis 10/16/2017

Ended up to lose my money

Previously, I though this was the right place I had ever came across which would help me gain a lot of money but, I really forgot that money doesn't grow on trees. Any way I invested with $200 via my credit card. And after a few days not more than 5 days, one night I have seen a message of warning that stating I may somehow lose my money. Next morning nothing is left to my account. And yet another message saying please refund your account. So, Please be aware of it it is a fraud and a cheater company.

Abdikani 09/28/2017

70Trades is a fraud trading agency

Lost my money within 15-20 days of trading, initially showing good profit and I was thinking of good return, but I was wrong, they have cheated me. It was my fault as I have trusted such fake agency. Don't respond to Karthik, Shivangi.....70trades is a fraud trading agency.........

Ravi 09/26/2017

thieves

they stole all of our money after gaing initial trust they ask you to deposit more money do not do it they will steal your money even if it reaches 1000 us dollars i have been stung do not let this happen to you

kevinmcdonnell 09/19/2017

bogus company

my dear friends,
this is most idiot forex company , i have earned 1800 $ from 400 $ capital, when i submitted withdrawal of 700 , the bastards did not gave me any
response

after 10 days they were $%^&* their mother
finally i loosed my fund , but i lost only my profit but they loosed their 550 $ bonus
that is jaise ko taisa
one call girl is v $%^&*, her name is Fleura Agarwal.
so never trust on them

i have a account in Bforex , they are giving any time withdrawal ,

john decosta 09/18/2017

Insisting to start trading with investment

I have signed up a couple of forex trading but luckily I did not invest. But 70 Trades looked like a genuine one. One lady called Gayatri talked to me in my language Tamil. Despite several calls, she insists me to make deposit of 200 dolloar. But I did not reply after seeing the review of others who lost their money

Anwar Deen 08/26/2017

70 Trades are Fradulent, Fraud and Cheater

They are cheater, fraud. they are not giving back your money. at first you will make money you can see profit. it is just on screen. after that they will tell you to open position in opposite trend you will ends up in loss. and you will loose all your money. Don't listen to them Fleura Agarwal, Syalli, Ruther they are account manger and so called administration team. Be aware!!!!!THEY ARE FRAUDELENT

Zaynah Ahmad 08/07/2017

70trades Fraud company

This is a fraud company..I have put 3000 USD and wanted to withdraw my money and they are not refunding...now they are incommunicado...I have lost all my money.

Please dont put money in this company...

Rajesh Shetty 08/02/2017

Cheaters: 70 trades is a fraud company

70 trades is a fraud company. They have no value. Pl do not be mesmerised by their talk.Their each version is a having a cheating intention.The moment you invest more you are all gone.
Be aware.
70trades is a big scam no one should ever join, they keep on calling me consistently named himself as Adam and ask me to join and told me after i join they will give me my account manager who help me to trade so i finally join and one lady called herself as Shivangi start calling me as my account manager she just call me for some few days and she stop calling me i finally lose all my money and i could not trade, any time i tried to trade the system was showing me error and asking me to make more deposit i tried to redraw my remaining balance but i could not then i realist it was just an empty figure making you to believed your money is there in your account and finally it turn to zero.

Sanjay Gantayet 07/22/2017

70trades is a big scam

70trades is a big scam no one should ever join, they keep on calling me consistently and ask me to join and told me after i join they will give me my account manager who help me to trade so i finally join and one fucken lady start calling me as my account manager she just call me for some few days and she stop calling me i finally lose all my money and i could not trade, any time i tried to trade the system was showing me error and asking me to make more deposit i tried to redraw my remaining balance but i could not then i realist it was just an empty figure making you to believed your money is there in your account and finally it turn to zero.

So 70trades is a big scam no one should ever join.

jospeh 06/26/2017

70trades Scam

I have opened account with them, totally scam., will call you numbers of time to insist you to deposit more ., once you request for withdrawal..they will disappear like they were never born in this world.. good way to make money by cheating people.. I am thinking to make one for me tooo.. . stay far away from them.. I have all the proofs against them... can give on request

Anees Ahmad 06/06/2017
Forex
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