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TRADEZMARKET Review - is it scam or safe?

TRADEZMARKET review - Is tradezmarketplace.com scam or good forex broker?

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

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TRADEZMARKET is presented as forex and CFD broker, incorporated in Bulgaria, but also operating an office in Zurich, Switzerland, which offers a great variety of currency pairs and other CFDs, with  a choice of several account types, leverage of up to 1:20 and a web based platform. An the broker also proudly declares to be a world leader in managing accounts.

 

If you are tempted to deposit your funds with TRADEZMARKET beware that the broker is not regulated and what is even worse – it is blacklisted by the financial authorities in Switzerland and Italy for running a scam.

 

TRADEZMARKET Advantages:

 

Comprehensive list of trading instruments

 

TRADEZMARKET offers over 50 currency pairs, lots of which minor and exotic, as well as various CFDs on precious metals like silver, gold, platinum and palladium, natural gas and oil, agricultural commodities, stocks, ETFs, bonds, 22 indices and even crypto coins like Zcash, Ripple, Monero, Stellar, Tron, Qtum, NEO, Litecoin, IOTA, Ethereum, Ethereum Classic, EOS, Dash, Bitcoin Gold, Bitcoin and Cardano. But if you like the idea of trading crypto assets, we would better suggest a regulated broker trading with bitcoin CFDs:

 

TRADEZMARKET Disadvantages:

 

Blacklisted by FINMA and CONSOB, no license

 

TRADEZMARKET is said to be owned and operated by the Investment Company Activity Ltd, which is supposedly incorporated in Bulgaria and also has an office in  Zurich, Switzerland. Bear in mind that both Switzerland and Bulgaria, which is a part of the EU, are highly regulated markets and any broker operating there should be licensed by the relevant authorities -  FINMA in Switzerland or an official EU regulatory body like the Financial Supervision Commission (FSC) in Sofia or let say the Cyprus Securities and Exchange Commission.

 

As it turned out TRADEZMARKET is not regulated anywhere and basically had been targeting Swiss and EU citizens illegally. And that had not gone unnoticed by FINMA in Switzerland and CONSOB, the financial watchdog in Italy, which have both issued a warning against  TRADEZMARKET. See for yourself.

 

 

When choosing your broker always make sure it holds a legit license, issued by a well known and well respected financial institution like CySEC in Cyprus, CONSOB in Italy or let say the Financial Conduct Authority (FCA) in the UK or the Australian Securities and Investments Commission.

 

And with a UK regulated broker your funds will even be protected by an insurance covering up to 85 000 GBP of your trading capital. Here is a link with our FCA regulated brokers:

 

>>FCA Regulated Forex Brokers<< 

 

Managed accounts

 

The reason why we have a problem when a broker offers to manage our trading account is quite straightforward. Virtually all brokers are market makers, which means they make money whenever traders lose. So basically if market makers like TRADEZMARKET offer to manage our trading account, they will surely have an incentive to mismanage our money and lose them in their own pockets. You can see the TRADEZMARKET offer here:

 

 

Trading bonuses

 

This is yet another issue with TRADEZMARKET. Trading bonuses are a favorite tool used by scammers to cancel your withdraw requests. How? Bonuses are always linked to additional withdraw conditions, like some minimum trader volume requirement, which scammers always reserve the right to change on their sole discretion. So you should not be surprised if you never get a chance to withdraw a single dollar.

 

High spreads

 

As tested with a demo account the benchmark EURUSD spread floated above 3,5 pips, which is almost three times the spread traders would usually find attractive with a demo account. So here we would also suggest that you check our list of brokers, offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

MetaTrader4 not supported

 

TRADEZMARKET offers some unproven web based platform, which lacks many of the functionalities of classic trading solutions like for example the MetaTrader4.

 

 

MT4 is without a doubt the most popular trading platform on the market, used by some 80% of traders globally. It comes with well over 50 integrated market indicators and trading bots with the help of which one can freely run automated trading sessions. And because MT4 also comes with an advanced set of charting tools, here you may check as well our list of brokers, which do offer MetaTrader4:

 

>>MT4 Brokers<<

 

Conclusion:

 

TRADEZMARKET is an obvious scam and it has already been blacklisted by the financial authorities in Switzerland and Italy. And remember, the only way to avoid getting scammed is to trade only with legit and properly licensed brokers, like the once regulated by the FCA in the UK, CySEC in Cyprus and ASIC in Australia.

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Traders` reviews for TRADEZMARKET

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