de | cn | ru

Trade V Group Review - is it scam or safe?

Trade V Group review - is trvfx.com scam or safe forex broker?

RATING: 1.3 / 0 REVIEWS Trade V Group
Trade V Group is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Trade V Group is a forex broker who does not share information on its website regarding the company’s headquarters or nationality. The original language of the website is Chinese and the brokerage claims is regulated by the Australian authorities. We have our doubts about this broker – read the whole review to find out why. 

 

 

Disadvantages 

 

 

Regulation

 

The supposedly Chinese brokerage claims on its website to fall under the regulatory supervision of the Australian Securities and Investment commission, but does not give an ACN number, nor a registered address. After checking with the online registry of the Australian regulatory agency we could not find any “Trade V Group lmt” among the licensees in the list. Such misleading information presented on the website puts serious holes on the brokerages legitimacy. Furthermore, it requires us to state that there is no assurance for the safety of the clients funds, besides the good will of the brokerage. Without regulation, we have no guarantee of the segregation of accounts i.e. the clients funds may well be mixed with those of the company and liable to all sort of illegal encroachments on part of the broker. Compliance with ASIC also requires the broker to have a starting capital of 1 mill AUD which significantly lowers the risk of them being frauds, since not many scammers have at their disposal such official liquidity. 

 

Having in mind the uncertainty over the regulatory status of Trade V Group, as well as its address, we advise potential traders to orient themselves to safer and more legitimate brokerages. They can check out our list of recommended Australian forex brokers: 

 

>>List of Australian forex brokers<< 

 

High spread 

 

Through a demo account we could have access to the brokers trader platform and found a spread of 3.0 pips on EUR/USD. This is double the industry average of 1.5 and way above what we would usually call a favorable spread. For comparison, a well-known, well-respected and well-regulated brokerage such as IG offers a spread of 0.6. What is important to note about the spread is that it acts as the constant “cut” the broker gets, irrespective of the clients possible losses or winnings, and as such – the higher it gets, the lower the total take away for the trader would be. Interested traders should make sure to check our list of recommended low-spread forex brokers:

 

>>List of low-spread forex brokers<<

 

Not enough information on website

 

There is missing information on vital points for interested traders. We could not found out what the possible payment methods are, nor the account types the brokerage offers. We have always underlined the importance of information in the trading world since it brings transparency for the brokerage and confidence in the client. Furthermore, a lack of information only hurts the credibility every brokerage attempts to build for itself. There is no information on the minimum deposit as well.

 

Withdrawal fee 

 

Hidden deep in the “Capital application rules” we find a “remittance fee” of $5 on any single withdrawal of $50.  There is a lack of clarity of precisely what that entails for withdrawals of larger sums, but such fees are problematic since it looks like Trader V Group are attempting to make money unethically through trading with misinformed clients. 

 

 

Advantages 

 

 

MT4/MT5 trading platform 

 

Potential clients have access to the MT4 trading platform which is by far the foremost platform in use at the moment. It's web version can be accessed through almost any web browser, as well as mobile devices and has much valued by traders options in it. One such option is the MQL4 programming language through which traders can alter or design their own auto-trading bots or run ready-made ones. It is also used by more than 80 per cent of the trading world and should be counted as a big plus. Here is a list of other forex brokers that offer it as well. 

 

>>List of MT4 forex brokers<< 

 

Reasonable leverage 

 

It is pretty tricky deciding what sort of leverage constitutes an advantage and what is considered a negative. This is mostly owed to the leverage itself which acts as a “doubtful advantage”. On the one hand, it allows traders the possibility of significantly higher profits than would be if they traded with no leverage whatsoever, but in contrast to that – if the market trend leads to losses, leverage will increase the losses. Trader V Groups provides the clients with a leverage of 1:100 which is reasonable and nothing out of the ordinary. Have in mind that Australia is one of the last trading places where no limitation on the leverage is planned in the near future on part of the authorities. 

 

Trading instruments

 

The brokerage offers clients participation in the forex financial markets. Potential traders may trade CFDs on currency pairs, stocks, indices, precious metals and commodities. The brokerage does not, however, offer CFDs on crypto which is an exciting product. Interested traders should check our list of recommended Bitcoin forex brokers: 

 

>>List of Bitcoin forex brokers<<

 

 

Conclusion 

 

 

Trade V Group is an unregulated brokerage with much uncertainty surrounding it. We could not found out where it is registered, nor the company behind it. What was stated on the website regarding its regulatory status did not hold water after research on our part through the online registry of ASIC. Most importantly – this damages the credibility of the brokerage and potential clients may not be sure regarding the safety of their funds. There is no assurance of the segregation of accounts, nor any other of the safety mechanisms inherent in regulation. The trading conditions are not favorable, nor is there a huge variety of financial instruments. Having all this in mind, we highly recommend interested traders orient themselves to better trading options to which we have linked throughout the review. 

Latest news about Trade V Group
No news about Trade V Group. Check back later.
Broker Country Regulation Platform Min Deposit Review
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
UK, Bulgaria FCA, FSC Web €29 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website
UK, Cyprus, Dubai FCA, CySEC, DFSA MT4, MT5, Web,
PrimeTrader
$100 Review Website

Traders` reviews for Trade V Group

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

 

 

de | cn | ru