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TradersHome Review - is it scam or safe?

TradersHome Review - is tradershome.com scam or good forex broker?

RATING: 1 / 2 REVIEWS ForexBrokerz TradersHome
TradersHome is an offshore broker. Your money is not safe.

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Trading Accounts and Conditions

 

Account type Initial deposit Maximum leverage Spreads
Student  $250 1:400 N/A
Starter  $2 500 1:400 N/A
Premium  $10 000 1:400 N/A
Advanced  $25 000 1:400 N/A
Pro  $50 000 1:400 N/A
VIP  $100 000 1:400 N/A

  

TradersHome offers its clients a choice of six accounts, however the differences between them are unclear, as the broker has not announced any essential trading conditions, other than the initial deposits required for each of them. If you are wondering whether investing in this offshore forex and CFD broker is safe, make sure to read our detailed review first.

 

 

TradersHome Advantages 

 

Trading on the MT5

TradersHome offers its services on the latest MetaQuotes’ software, the MetaTrader5 (MT5). We always consider the availability of MT5 or its predecessor, the MT4, as a big advantage due to their reliability and many helpful and efficient traits. Among them are the great charting, MQL5 programming language enabling traders to design and back test their own auto-trading bots or run ready-made ones.

 

 

>> Check out the best MT5 brokers <<

 

 

Up to 1:400 in leverage

Another possible advantage of TradersHome is the high leverage levels it offers, up to 1:400. Leverage ratios that high will suffice the needs of traders of all preferences and skill levels. Yet, keep in mind that many jurisdictions have capped the leverage available to retail clients to significantly lower levels. This is due to the fact that higher leverage involves greater risk.

 

 

TradersHome Disadvantages

 

Registered offshore

This broker is allegedly owned and operated by TradersHome Ltd., a firm registered in St. Vincent and the Grenadines (SVG). Companies in this offshore zone just have to follow a simple and inexpensive registration procedure with the local Financial Services Authority (FSA). Actually, the FSA has explicitly stated that there is no licensing regime for financial services providers registered on the SVG. This means that these brokers are not overseen by any financial authority and that their clients are subjected to all kind of risks. The most common among them is losing your entire investment to scam.

 

The lack of legit license on the part of TradersHome also means that the broker is not entitled to operate on any regulated financial market, such as the EU, Australia, or the US. Nonetheless, it seems that TradersHome is illegally targeting European investors.

 

Blacklisted by the French financial regulator

We found out that the financial supervisory authority of France, Authorité des marchés financiers (AMF) has issued a warning against TradersHome as a potential scammer, which operates on the French financial market without a license.

 

Zero clarity on trading conditions

As we said in the beginning, TradersHome doesn’t provide much details about the trading environment they provide. This is an obvious disadvantage that is actually very common among shady offshore brokerages. Investors have the right to know what are the prices of the services offered by the company, which means typical spreads, and other essential information.

 

No demo accounts

Access to the trading platform of a brokerage through a demo account is highly valued by the forex community, as it shows transparency and is free. Therefore, we always consider as disadvantage when a broker does not offer free demo accounts.

 

 

Click on the image to view full size.

 

The absence of any information on spreads on this broker’s website, combined with the lack of free testing service, only confirms our conviction that TradersHome is engaged in fraudulent practices.

               

 

Conclusion

 

Overall, TradersHome has all the trappings of a typical forex broker scam. First and foremost, it is not regulated. Second, it has not revealed any of its trading conditions on the website, other than the initial investment, and it doesn’t offer demo accounts either.  Therefore, we believe that potential clients of this broker may be open to substantial risk.

 

Trading with an unregulated broker brings with it a hornet’s nest of risks. There is no guarantee for the safety of the clients’ funds and there is no one to turn to, in case something goes wrong. For example, if you trade with a broker licensed by UK’s Financial Conduct Authority (FCA), your capital will be protected for up to 85000 GBP, even if the brokerage files for bankruptcy.

 

 

>> Looking for a FCA-licensed Forex Broker? <<

 

 

And finally, here are the highlights of our review of TradersHome:

 

Pros Cons
MT5 available No financial regulation
High leverage Blacklisted by the French financial regulator
  Zero clarity on trading conditions
  No demo accounts

 

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Traders` reviews for TradersHome

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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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Scam confirmed for TradersHome !!!

I got trapped (I was very suspicious and lost only 100 EUR...)
Once they understood i wouldn't give them more money (they asked for 4000 EUR for 3 weeks for trading on Amazon shares, with 9% guaranteed payback), they put the leverage to 1:400 on my account without telling me and blocked all ways to cancel or stop losses on open orders.... My orders are not closing when reaching "Take profit" or "Stop loss" so they can't be winning at all, i have screenshot about Metatrader 5 messages proving the very strange new settings of my accounts.... So i have open positions losing more than the 100 EUR i had on the account, maybe thousand of USD losses... I suspect anyway they had a server with demo account from the start and my 100 EUR are in their hand without never have touched a market place.... They wouldn't allow such a loss of money because they would have to come to ask me to pay the thousand negative balance (and since they are at fault and offshore, not clearly identified etc... they wouldn't go to court with me, we don't have any contract signed anyway). I know i'll never hear from them again, but i got a bit of stressed to see my orders were not closing and i started to lose all my "little" money until i realized anyway I can't lose more than 100 EUR as it's all i gave.... Now i'm waiting for their registered letters and call to court for the fight, which will never happen.... 100% confirmed by my experience, i wanted to trust (again, as i got trapped in the past already), and i'm happy i've been careful not to add more than the minimum 100 EUR........

Tony 08/13/2019
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