TradersHome Review: Another Illegal SCAM Broker?

Before investing money in a brokerage company, it needs to be thoroughly checked; otherwise, you can easily fall into a fraudulent trap. This TradersHome review is dedicated to another illegal broker that has been deceiving its clients for years, appropriating their money. At first glance, it may seem like a safe intermediary, but if you dig deeper, you can find many negative factors, such as fake registration, lack of licenses, and much more. If you want to know the details of why it is a scam. Join us, it will be interesting.

TradersHome General Information

Is TradersHome Broker a Safe Option for Traders?

Segregated accounts, a listed legal address, and an NDD and ECN order execution model – good conditions, right? However, all of this is a lie. The template website, lack of information about licenses and experience, and hidden trading conditions do not inspire trust in the platform. The company requires thorough scrutiny; it does not resemble a safe and reliable brokerage intermediary.

How Transparent Is TradersHome Broker Regarding Regulations?

In the footer of the website, it is mentioned in small print that the company is registered in Saint Vincent and the Grenadines. Even without checking the SVGFSA legal registry, one can say there is a high risk with such platforms because such jurisdictions are popular with scammers. It is easy to open a company there, and the regulator does not monitor the activities of forex brokers, allowing them to do whatever they want. However, it is still necessary to check whether the organization is actually based in Saint Vincent and the Grenadines or not.

A search for the name TradersHome yielded nothing. The broker was not found in the official SVGFSA registry. Perhaps, a long time ago, the firm was officially registered there. And this hypothesis is confirmed by registration number 25183IBC2018 found in the risk disclosure policy. This number is also not in the register; a lot could have changed in 6 years. So, that is history, what matters is the present. Currently, there is no such brokerage intermediary in Saint Vincent and the Grenadines.

Then the question arises — where is the company based? There is no answer, but it is likely that the firm is not registered anywhere at the moment. Consequently, it cannot hold licenses to operate from government regulatory bodies. No license means no guarantees, and the activity is considered illegal, in other words, a maximum risk. Moreover, the website does not mention anything about regulation.

What is surprising is that the platform has been operating since 2018-2019. The domain was created in 2012, but it was only in 2018 that this company appeared on it with its services. You can view snapshots through a very useful service called WebArchive. Over several years, the organization could not find a country to register its business, nor could it obtain the necessary license. Additionally, they still have not updated the main page, which contains outdated information about COVID-19.

Lastly, it is worth noting the business model, as the site clearly mentions ECN/NDD. First, it is highly doubtful that an unregulated broker would have access to ECN. Only serious and large organizations with all necessary licenses have access to ECN. Therefore, there is no doubt that the scammers are blatantly lying about ECN/NDD to attract traders’ attention. In reality, the platform operates as a dealing desk, not routing clients’ orders to liquidity providers but processing them internally. A conflict of interest is inevitable.

The main part of the TradersHome review, where licenses and legal status were examined, is concluded. Now, let’s move on to the trading conditions and other negative factors that prove it is a fraudulent platform.

Trading Conditions Breakdown: What to Expect?

First, the company is a CFD platform, meaning there are no spot market or futures contracts here. Trades are not routed to interbank liquidity or larger providers, as previously mentioned. It indicates a conflict of interest, meaning the firm will hinder traders to ensure they lose their deposits because that is the only way for the scammers to make a profit.

Second, the broker guarantees no requotes and no slippage. It is only possible in an artificial market, which further confirms that this is a dealing desk. If trades were routed to ECN, requotes and slippage would definitely occur, as these are normal phenomena in genuine trading.

Third, the leverage of 1:400 is clearly excessive. Financial commissions prohibit brokers from offering leverage higher than 1:30. This is for a reason. Using borrowed funds greatly increases risks. The scammers understand this perfectly, which is why they allow trading with such high leverage.

Fourth, the amount of commissions and spreads is not specified. It is random. Would an honest and transparent intermediary hide the most important conditions? Absolutely not. Scammers will eagerly conceal crucial parts of the terms.

Based on the four points above, the platform can hardly be called profitable and comfortable for trading. Traders have no chance of making a profit.

Platform Performance

The broker does not provide a detailed description of its trading platform. The official website has a section dedicated to the trading terminal, but aside from mentioning the existence of desktop and mobile versions in addition to WebTrader, there is nothing else. Notably, these programs cannot be downloaded because they are only available to registered users. And the problem lies in registration — it is unavailable. When entering all the data, an error pops up, making it impossible to create a personal cabinet.

How can you see what the platform is like? You can’t. No description of its capabilities is provided. Is this the behavior of a transparent, honest, and reliable broker? They can’t even offer a demo account.

Does TradersHome Provide Educational Tools for Traders?

If you expect to find any training courses or analytical resources here, there are none. The company does not even provide such basic things. The site only offers two calendars: an economic calendar and expiration dates. The latter has not been working for 4 years, as the last dates listed were from 2020.

Hidden Fees and Charges: What Traders Need to Know?

As mentioned above, commissions and spreads are unknown. Such key information is not disclosed on the official website, so it is unclear what to expect from the broker regarding commissions and spreads. The only thing the firm mentions is zero fees for money transfers. That is, deposits and withdrawals can be made for free. This lack of transparency is yet another red flag.

User Feedback: Insights from Existing Clients

Despite several years of operation, the number of reviews about the company does not even exceed 100. It seems the platform has never been popular among traders. TradersHome reviews confirm the illegal activities of the platform, as well as lies about the number of clients. The top of the website claims 230,000 active traders, which does not match the extremely low number of comments on the internet.

Furthermore, you can find positive reviews about TradersHome. These are fake, as they were posted on demand. An honest and legitimate broker is unlikely to publish fake positive comments about itself. It is a favorite advertising tactic of scammers and fraudsters.

How Responsive Is TradersHome Broker’s Customer Support Team in Resolving Issues?

Visitors to the site are repeatedly directed to the online chat, supposedly to communicate with support managers. However, where is the online chat? It does not exist on the official website. It seems they either forgot to activate it, or it was there before but has since been removed.

Additionally, emails and a phone number are provided for contacting managers. Checking these revealed nothing significant except for one interesting detail. The phone number +18887787970 is listed not only on this company’s website but also on the website of another company, MediaHomeLife. Look at the similar email addresses and the official websites. These are two identical brokerage firms. Does this mean that the same scammers are behind their creation?

Pros and Cons

2.6 TOTAL SCORE

TradersHome Summary

The main conclusions of the TradersHome review are that the company has been engaging in fraud and illegal activities for many years, but judging by the small number of reviews, there are not many victims. Do not become the next victim of this scam broker; do not invest your money here, as there are no guarantees of reliability, and the risk is 100%.

---

Website information content 4

Client Portal 1

Trading conditions 2

Trading platform 2

Deposit and withdrawal 2

Verification 3

Extra options 2

Licenses and guarantees 1

Work duration 7

Feedback 2

Frequently Asked Questions (FAQ)