Looking for a reputable partner for online trading in financial markets? The Forex/CFD broker discussed in our ToroHive review is ready to open an account and provide a trading platform where you will find hundreds of opportunities. Ready to start trading? Don’t rush. We are sure that all these offers are just bait for a trader who doesn’t even suspect that they will part with their money forever. Everything about this scam project can be found below.
- ToroHive General Information
- Registration and Client Portal Review
- Account Types Review
- Trading Platform
- ToroHive — Deposit and Withdrawal of Funds
- Verification
- Additional Options
- Is ToroHive a Scam?
- Legal Information and License
- Torohive.com Domain Info
- Contacts Review
- Pros and Cons
- Frequently Asked Questions (FAQ)
ToroHive General Information
Website | https://torohive.com/ |
Phone Number | +310 841 5500 |
support@torohive.com | |
Address | 1012 Pebda Parkway, Mirpur 2, Dhaka, Bangladesh |
License | No |
Minimum Deposit | $250 |
Assets | CFDs |
Leverage | Up to 1:500 |
Trading Platform | Webtrader |
Registration and Client Portal Review
The official ToroHive website is both dull in design and filled with content issues. For example, on the homepage, the developers couldn’t find anything more interesting to highlight than the referral program, dedicating at least a quarter of the space to its description. The blog hasn’t been updated for almost a year, since February 2024. The information about the company on the About page consists of just two short paragraphs, where the main message is: “We are a very good and reputable broker.”
After reviewing this “creation,” one can’t help but think that it was made by amateurs who are only interested in one thing — money from traders. This suspicion is reinforced when attempting to create an account on the platform.
The site contains numerous interface elements that should open login or registration forms. The registration form is extremely simple and requires only a few fields to be filled out:
- Full name.
- Email.
- Country (choose from dropdown list).
- Password.
Before submitting, users must agree to the Terms & Conditions. However, this won’t help them become a ToroHive client — data is actually sent to app.globaltrade101.com, a domain that belonged to another scam broker that is now offline.
As a result, users cannot register or log into their personal accounts. In our opinion, this is a clear scam sign: accounts can only be opened and funded through company representatives. Naturally, only those who receive a personal invitation, most likely via phone, will have this opportunity. This is exactly how fraudsters attract the majority of clients, who bring in the largest amounts of money.
Account Types Review
Traders on the platform have access to five account plans:
- Basic — Minimum deposit $250, leverage up to 1:30, spreads from 3 pips.
- Silver — Minimum deposit $10,000, leverage up to 1:30, spreads from 2.4 pips.
- Gold — Minimum deposit $50,000, leverage up to 1:400, spreads from 1.9 pips.
- Platinum — Minimum deposit $100,000, leverage up to 1:400, spreads from 1.2 pips.
- VIP — Minimum deposit $250,000, leverage up to 1:400, spreads from 0.6 pips.
It was not possible to find information about other trading conditions on the ToroHive website. It seems the company believes that traders only need to know how much they should send to the deposit. Everything else they will learn as they part with their money.
Take Note! In the list of options in the account descriptions, there are other offers for account holders. These have nothing to do with trading conditions but may attract beginners. We are sure this is just part of a marketing campaign aimed at extracting the maximum amount of money from new users. In reality, ToroHive clients are unlikely to receive full-fledged training and professional assistance.
VIP program participants have access to three additional exclusive accounts. They offer 1:500 leverage and spreads from 0 pips. More detailed information about the Capital Management, Wealth Management, and Millionaire’s Club accounts is provided only by personal managers.
The scam broker has not come up with anything new and operates using the same methods as most fraudulent companies: the more money a trader has in their account, the more they must lose. That’s why deposit leverage increases along with the minimum deposit amount.
Trading Platform
The ToroHive creators provide almost no information on their website about the trading platform they use. We were also unable to review the broker’s terminal, as we couldn’t obtain an active account.
The only hint of what the trading terminal might look like is found on a banner on the homepage, where a picture of it is displayed. However, there is no guarantee that the broker actually uses this software, so for now, we will refrain from describing it in detail.
ToroHive — Deposit and Withdrawal of Funds
The official website does not list the payment methods available for non-trading transactions. Since we couldn’t access the client portal without an active account, we had to rely on the broker’s documents, particularly the Terms & Conditions and Withdrawal Policy, to gather payment-related information.
According to ToroHive, deposits can be made via:
- Debit/Credit bank cards.
- Bank transfers.
- Cryptocurrencies.
Withdrawals are processed using the same method as the deposit, in accordance with AML policy. The broker claims that deposits are free, but third-party fees (from payment providers) are the client’s responsibility. The same rule applies to withdrawals.
Important! There is a major issue with the documents. For example, the Withdrawal Policy states that it was created for globaltrade101.com, which, as we mentioned earlier, belongs to Uptrend Center — a scam broker that is no longer operational. The internet is filled with reviews from victims who lost their money. It looks like both projects share the same owner.
Verification
Although clients cannot register on their own, the AML Policy still describes a verification process. Like most brokers, ToroHive requires proof of identity and address. The verification process involves submitting copies of:
- Identity document (passport, driver’s license, national ID card, etc.).
- Utility bill (issued within the last six months; mobile phone bills are not accepted).
However, just like with the other documents, this policy was originally created for globaltrade101.com.
Additional Options
ToroHive makes an interesting offer to its clients — at least, from the broker’s perspective. Account holders from Silver and higher can order a debit card that supposedly allows for easy cryptocurrency-to-fiat conversion. However, the broker does not disclose any further details about this offer.
Meanwhile, the Silver account requires a minimum balance of $10,000. While this is not an excessively high amount, it is enough to obtain a debit card from any bank and use the crypto-to-fiat conversion services offered by legitimate crypto exchanges and payment systems.
Take Note! ToroHive is not registered anywhere (more on that later), meaning it operates solely under the private individuals who created the project. However, a private individual cannot issue a significant number of bank cards for other private individuals through a bank or financial institution.
Is ToroHive a Scam?
Our very first encounter with the broker’s official website and offerings convinced us that we are dealing with a scam project. However, at this stage, we have only gathered indirect evidence. The strongest arguments supporting our viewpoint will come from analyzing ToroHive’s official data.
Legal Information and License
ToroHive does not provide any registration details or licensing information on its official website. Our initial step was to verify the Bangladesh address listed on the contact page. The location is quite exotic, but checking the business registry should not be an issue. We tested every possible variation of the company’s name, yet found no results. This confirms that the broker is not registered in Bangladesh.
Clues about the company’s registration can be found in its legal documents, such as the Terms & Conditions and various policies. The T&C states that the broker operates under the laws of “saint vincent and the grenadines” (quoted exactly as written in the document, so you can judge the professionalism of their team) and that disputes are settled in this jurisdiction.
A search in the Saint Vincent and the Grenadines Financial Services Authority (SVGFSA) registry also yielded no results. This means that ToroHive is not registered there either (you can see the similar situation in our RCFInvestments review). To be thorough, we also checked the Netherlands’ business registry, as the broker’s phone number includes a Dutch country code. Once again, no records were found.
ToroHive operates without official registration, offering services exclusively through its website, making it a purely virtual entity. We strongly believe that a “respected online trading partner” should look quite different.
Important! Since we have confirmed that ToroHive is unregistered, clients should not expect to receive a debit card from this broker.
Naturally, a virtual company cannot obtain a license from any financial regulator, not even an offshore one, because regulatory bodies do not issue permits to mere websites, groups, or channels (or any other non-legal entities).
Thus, we can confidently state that ToroHive provides brokerage services illegally, making it a typical scam.
Torohive.com Domain Info
This also explains why the broker’s website does not disclose the company’s founding date or any historical details. We obtained these insights through an independent source — WHOIS data.
The torohive.com domain was purchased in January 2024. A Web Archive check further reveals that activity on the site (such as page uploads) only began in mid-2024. We believe this is when the virtual company was created. This means that the project is only about six months old.
By now, the company should have had enough time to resolve most website issues. Yet, for some reason, the project owners are only focusing on this now. Did ToroHive lack the resources, time, or effort to tidy up its website? Or, like most scammers, did they simply not care?
Contacts Review
We have already mentioned ToroHive’s contact details and some of their oddities. On the official website, visitors will find:
- A contact form.
- An email address.
- A support phone number with a Netherlands country code.
- A mailing address for an office in Bangladesh.
This combination is quite unusual, especially the European phone numbers for an office in Bangladesh. Another strange detail is the complete absence of links to social media. We believe this could be a valuable client acquisition channel, but scammers seem to have their own approach.
Pros and Cons
- Fast page loading speed on the official website.
- Low entry threshold (only $250 required to start).
- No official registration.
- No license.
- High leverage (up to 1:500).
- No option for self-registration.
- Documents copied from another broker and left unedited.
Frequently Asked Questions (FAQ)
The broker claims to provide access to Forex/CFD trading. However, in reality, it merely collects client funds without executing actual trades.
You can invest any amount, but the minimum deposit is $250. However, we strongly advise against depositing any money with this broker.
Absolutely not. The broker operates without registration or licenses, which is already a major red flag. You should never trust them.
Terrible broker
ToroHive started calling me quite frequently, but at first, I wasn’t interested. However, I recently decided to try trading and went with them. My experience was far from pleasant. I planned to start with $250, but they convinced me to deposit $10,000 instead. Now I can’t get my money back because they keep rejecting my verification… A terrible broker with awful service.
Scammers blocked my account
The scammers at ToroHive stole my hard-earned money! I tried to withdraw $1,500, which I made over a month of trading, but first, my request was denied, and then they completely blocked my account. Now I can’t even log in! How can I get my money back?
Company takes too much money
I doubt anyone has ever actually made a profit here. ToroHive is trying to launch a marketing campaign, but this broker is a complete fraud. Their trading conditions are shady — they barely provide any details, yet they charge enormous fees. Spreads and swaps are high, and there are additional trading commissions. It feels less like a trading platform and more like a money-sucking machine. I definitely do not recommend it.