For a company that has been present in the industry for a while now, we were surprised to learn that there isn’t a lot of information to find online about it. This is highly suspicious, especially considering how consistently bad it seems to be towards its clients. We found many complaints about it regarding things such as slow withdrawals, missing or rejected transactions, and unwelcoming customer support. This alone should be more than enough to reject you from ever trading with this company. However, if you still have some doubts about our intentions, keep reading this Trade Financial review to learn more about it, and make a decision for yourself.
The biggest sore in our eyes is definitely the fact that this company imposes some suspicious requirements when you are trying to make a withdrawal. They basically ask for more paperwork, but when you deliver it, they start to suddenly change things so you can never really win with them. The main goal is for you to eventually give up on withdrawing any money. Another thing that is in their favor is the fact that this company is not regulated. Meaning, you cannot turn to any regulatory body or a government agency to search for help and make sure that your rights as a trader are honored. This is always tricky when trading with unregulated names – since there is no one to protect you from getting scammed. This is one of the biggest red flags we can find among all broker companies who are suspicious – the complete lack of regulation. So, watch out when you attempt to trade with these kinds of brands! There are so many companies that are trustworthy and have a proper license – Trade Financial is just not one of them.
Trade Financial gives you the opportunity to trade with no more than 5 account types, which is pretty satisfying. Or at least seems like it at first glance. The thing we’ve noticed when we started to dig deeper into this section is that all these account packages are pretty similar – there is no basic difference between most of them, aside from the huge difference in minimum deposit requirements. But we will get to that soon.
The first account type you can trade with is called the Basic account, and you will need to deposit at least $500 to trade with it. This is twice more than what you would usually need to pay for a basic account with the majority of other trading platforms and companies, so keep that in mind. This account gives you full access to the trading platform, which is nothing unusual considering that this is where you will be spending most of your time. Then, you will also get access to around 150 tradeable assets and some trading signals, but that is about it.
Next, we have the Silver account, which requires you to deposit a huge amount of $5.000. This is quite a big jump from the previous one, don’t you think? With it, you will receive daily and weekly market reviews in your inbox, which are quite useful. They help you build your trading strategy and keep you updated with all the latest developments in the trading industry, which can be quite hectic at times. Also, you can utilize benefits such as private analyst sessions and trading bonuses. However, we must say that there isn’t a lot of educational material available for such a huge price, so keep that in mind when choosing this account type.
The Gold account comes next, and it is said to be the best value for your money. And that money is no less than $10.000 as a minimum deposit requirement, which is a lot. With the addition of everything we previously listed, you will also get SMS alerts and another educational material lesson to top off the previous one. If that is the kind of thing that you feel would be enough, go ahead and sign up for this account. But we wouldn’t if we were you.
The Platinum account is available after you deposit $25.000. With it, you can get advantages such as lower spreads and more private analyst sessions. Also, this account type is a good option for clients who don’t want to wait for too long for their withdrawals to come in. while all of this sounds great, keep in mind that you can also have the same benefits at other companies, and with much smaller deposits.
The last one is the VIP account, which requires you to invest a whopping $100.000. This account type comes with more analytic tools and materials. However, we couldn’t find a lot of other information about it, which is strange considering that this account type should be the best and the brightest of them all. Still, there is a lot of data missing, which is not unusual for Trade Financial, after all.
Aside from the few lessons we mentioned in the previous section, we were disappointed to learn that Trade Financial does not offer educational material in any form. There are no video tutorials or articles to guide you through the website or the trading platform. This is a huge disadvantage for all potential clients. It seems that they are expected to pick up that knowledge elsewhere and come prepared to trade here. This is not at all a good practice.
Even if you spread out and choose the most expensive account type, you still won’t find much information or educational tools in this area at all. Just a few lessons here and there, which is certainly not enough for a lot of people, not to mention the clients who are just starting out.
The trading platform is not available for your viewing unless you sign up for an account first. This is another big red flag. What could they have been hiding? This is the question on everyone’s minds. So far, we’ve noticed a pattern forming in how Trade Financial is handling business – they tend to hide a lot of information, which only makes them seem even more suspicious. This is not a good look if you ask us.
We cannot tell you any specific about the platform, such as how fast it is loading or what is the overall outlook and design. Based on our previous research of the account types, we can tell you that you will find around 150 tradeable assets here, which is not at all admirable. Then, you also can’t access it through all devices or download it – there is only the web version available. And that is, of course, after you’ve signed up for one of the 5 account types.
Now, this is the part where you will get extra discouraged – we know we have. So, brace yourself. Namely, there is only one way to contact the customer support agents – and that is through the online form that is available on the website. This is one of the slowest forms of communication in our experience with other broker companies. Unfortunately, it is also the only one you can find at Trade Financial, which makes matters even worse. We are not sure how the clients are handling this obstacle, since there is also no indication about how long will it take them to get back to you if they ever do.
Trade Financial tries really hard to make it seem like its funding process is transparent, but the facts prove otherwise. Namely, there are multiple complaints constantly resurfacing about this company canceling and rejecting withdrawal requests without warning or explanation. Also, there is a lot of documentation that you will need to provide to make a withdrawal, and these requirements are changing quite often, which is another sign of bad business practice. These transactions are getting rejected daily, and it is practically impossible to receive your money back.
Deposits are fairly simple to process, which is not surprising considering the entire image of the company. For both processes, you can use a credit or a debit card, Bitcoin, or the bank wire transfer. The last one takes a while to process your deposits, while the other two only take around a few minutes, which is great. Also, it goes without saying that you need to use the same payment option for both deposits and withdrawals, just to speed things up and make them transparent and secure.
The minimum requirement for a withdrawal is 25 USD/EUR/GBP, while the minimum withdrawal for Bitcoin is 250 USD/EUR/GBP. The processing times can go up to 5 business days for all withdrawals, no matter the amount of the payment method. However, this only goes for processing – there is an additional waiting period for the money to become visible on your account again. These are two different things that Trade Financial is clearly trying to hide.