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TradeVest Review - is it scam or safe?

TradeVest Review - is tradevestgroup.com scam or good forex broker?

RATING: 1.3 / 1 REVIEWS ForexBrokerz TradeVest
TradeVest is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Trading Accounts and Conditions

 

Trading account Minimum deposit Min. trade size Maximum leverage Spread
General $100 0.01 1:1000 0.3 pips (+ commission)

 

TradeVest is a forex and CFD broker that seems to offer a single account type on the cTrader platform. In our opinion, however, there are far better options than TradeVest. Read the full review to understand why.

 

 

TradeVest Advantages

 

cTrader platform offered

The choice of platform of TradeVest is quite unusual for an offshore broker - Spotware’s cTrader. This platform is a well-organized trading workplace especially designed for NDD execution. cTrader provides good charting with wide range of technical analysis indicators and timeframes.

 

Besides, the platform supports automated trading – the cAlgo functionality allows traders to generate robots, custom indicators and offers good back-testing options. However, the cTrader’s coding language is not as popular among traders as those of MT4 and MT5.

 

 

TradeVest’s demo web cTrader. Click on the image to zoom in.

 

 

>> Do you prefer trading on MetaTrader4? Click here <<

 

 

Seemingly good spreads

We keep reiterating in our reviews that the cost of trading is not the most important criteria when choosing a forex broker. Safety should be each trader’s top priority, which means investing in well-regulated and reputable brokers. Nonetheless, spreads are also of significance.

 

In the case of TradeVest, we found the EUR/USD spread on their demo cTradre platform floating around 0.3 – 0.4 pips. Such low spread, of course, also involves a commission. For further information and comparison, check out the spreads of some top-rated brokers below.

 

 

>> Our dedicated real-time spread comparison page <<

 

 

Reasonable initial deposit, bonus available

Clients of TradeVest can start out with $100, which is by no means a high initial deposit. On top of that, the broker offers a 100% welcome bonus. Nonetheless, you should be aware that other brokers, including reliable and licensed ones, require less, or nothing at all. For example, you can open an account with industry leader IG with just a couple of pounds or bucks.

 

 

TradeVest Disadvantages

 

Registered offshore

The main issue regarding TradeVest Investing is its regulation status. The brand is operated by GreenBrown LTD, a company that seems to be based in the UK, but is in fact registered on the Marshall Islands. It is not authorized by the UK’s Financial Conduct Authority (FCA).

 

Brokers registered in offshore zones like the Marshall Islands are not overseen by any governmental agency. This means that clients of TradeVest and other offshore brokers have no guarantee that their money is safe, nor that they will get any protection if something goes wrong.

 

Dangerously high leverage provided

The maximum leverage levels provided by TradeVest reach 1:1000, which is dangerously high, although not that uncommon among offshore brokers. The higher the leverage, the greater the risk exposure.

 

Bonus T&C apply

As we mentioned above, this broker offers an on-deposit welcome bonus of 100%, which is not bad in general. However, certain Terms and Conditions apply to such bonuses, as is usually the case with forex brokers. In the case of TradeVest, clients will be able to withdraw the $100 bonus only if they reach a live trading volume of 36 lots. On top of that, no profits from this bonus can be withdrawn.

 

 

Conclusion

 

It seems that TradeVest has certain strong sides to it. Most notably, it offers the cTrader platform, and the costs of trading appear low. It also promises No-Dealing-Desk execution and Negative Balance Protection, which sounds great. The problem, however, is, that as an unregulated broker TradeVest can claim whatever they want. There is no financial regulator to watch out whether they keep their promises, keep client money in segregated accounts, etc.

 

 

>> FCA-regulated forex brokers <<

 

 

That is why we suggest that you chose regulated forex broker instead. Some of the industry leaders are authorized in the United Kingdom and overseen by the FCA, which forces them to comply with a number of strict rules, thus lowering the risk of fraud providing assurance for the safety of the clients funds.

 

To sum up the strong and weak sides of Trade Vest:

 

Pros Cons
cTrader platform offered Registered offshore
Seemingly good spreads Dangerously high leverage provided
Reasonable initial deposit, bonus available Bonus T&C apply

 

Latest news about TradeVest
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Traders` reviews for TradeVest

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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