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Trader Platinum Review - is it scam or safe?

Trader Platinum Review - is traderplatinum.com scam or good forex broker?

RATING: 1 / 0 REVIEWS Trader Platinum
Trader Platinum is an offshore broker. Your money is not safe.

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Trading Accounts and Conditions

 

Trading account Min. deposit  Max. leverage  Spread
Basic  $250 1:100  N/A
Standard  $2500 1:150  N/A
Premium  $20,000 1:200  N/A
VIP  $50,000 1:400  N/A
Tailored  Custom  Custom   N/A
Robot  $5 000  1:100  N/A

 

Trader Platinum presents itself as a MetaTrader forex and CFD broker that provides trading and managed account services in currencies, futures, indexes, and other leveraged financial instruments. Unfortunately, a number of things are not right with this broker – its website is anonymous and whichever the company behind Trader Platinum, it is not regulated. You may find all details in the present review.

 

 

Trader Platinum Advantages

 

Claims to support the MT4, and to offer various CFDs

Trader Platinum says that its services are provided via the MetaTrader 4 (MT4), the most popular forex trading platform. The MT4 is highly praised for its top-notch charting package, numerous technical analysis indicators, automated strategies (EAs), customization options, and more.

 

However, Trader Platinum does not offer a customized MT4, but only a link to the official MT4 website. We also couldn’t open a demo account with this broker, so we cannot be sure that the platform is really available to its clients.

 

 

>> Check out the best MT4 brokers <<

 

 

Another claim we could not verify, but decided to include it in the Advantages section, is that Trader Platinum offers wide range of financial products for trade – major and exotic currency pairs, CFDs on indices, commodities, stocks and cryptocurrencies.

 

 

Trader Platinum Disadvantages

 

No name, no number, no regulation

As we said in the beginning, Trader Platinum’s website lacks any corporate information, it is unclear which is the company operating the brand, where are its headquarters, etc. This is a sign of trouble because anonymity is quite common when it comes to scamming. Clients that have fallen victim to a scam perpetrated by anonymous brokerages have limited legal options afterwards. 

 

Needless to say, whichever the company is operating Trader Platinum, it is not bound by any government regulator. This means that the broker is not authorized to do business on any regulated financial market, such as the EU, Australia, USA, etc. So, don’t be fooled by the ridiculous claim of Trader Platinum that it is “fully compliant with EU Regulation (EU) 2016/679 (GDPR).” All companies providing financial services in Europe, have to be licensed by a legit financial regulator. 

 

Blacklisted by the MSC

We also found out that the Manitoba Securities Commission (MSC) in Canada has issued a warning about Trader Platinum. The broker has been targeting Manitoban investors without being authorized to trade securities in this Canadian Province.

 

The MSC says it has been approached by a complainant who described how he received a call from Trader Platinum, and was offered a fully-managed financial market trading account for $500 USD deposit, with a minimum guaranteed one per cent per daily profit.  

 

According to the official warning issued by MSC, the company claims to be operating from various world financial centers like London, Toronto, and New York, but their website lists their physical address as Sofia, Bulgaria.

 

Spreads aren’t clear, no free testing service

On top of the lack of corporate information and financial regulation, the website of Trader Platinum does not specify any reference spreads, nor does it offer free demo accounts.  

 

A test-drive of the trading platform is a great advantage and shows that the brokerage is transparent with its trading conditions.

 

 

Conclusion

 

Trader Platinum is a financial services provider that most likely runs some sort of investment scam. The service of this broker is anonymous, and its website does not disclose essential trading conditions, such as the spreads. Besides, the broker has been blacklisted by a Canadian provincial financial regulator.

 

We always advise our readers to select very carefully their investment intermediary. It is best to choose among brokers regulated by trustworthy regulators, such as the UK’s FCA or Australia’s ASIC. It is also a good idea to check the broker’s name in the web to see whether there are any complaints or warnings against it.

 

>> Wanna trade with a broker licensed in the UK? <<

 

 

Let’s sum up the positive and negative sides of Trader Platinum in a few words:

 

Pros Cons
Claims to support the MT4 No name, no number, no regulation
Various CFDs allegedly available Blacklisted by the MSC
  Spreads aren’t clear, no free testing service

 

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Traders` reviews for Trader Platinum

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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