Traderup claims to offer the very best trading conditions, which certainly sounds appealing to potential investors. However, we’re here with this review to dig deeper and determine whether these claims hold water or if this is just another attempt by a potentially scam broker to lure you into its web.
- Traderup General Information
- Registration and Client Portal Review
- Traderup Trading Conditions
- Account Types Review
- Trading Platform
- Traderup — Deposit and Withdrawal of Funds
- Additional Options
- Is Traderup a Scam?
- Legal Information and License
- Traderup.com Domain Info
- Contacts Review
- Pros and Cons
- Frequently Asked Questions (FAQ)
Traderup General Information
|Address||133 Upper Richmond Road, Putney, SW15 1QQ, United Kingdom|
Registration and Client Portal Review
Well, it’s hard to imagine a site duller than the one Traderup has crafted for itself. Seriously, take a look for yourself. What are we dealing with here? A standard white-and-blue background, generic inserts, and chart drawings, and the typical self-praise. Someday, we might encounter a broker that doesn’t leave us bewildered by its reluctance to put effort into creating an official website, but it doesn’t seem like that day is coming anytime soon. Useful content here is also minimal, with perhaps the account descriptions and the FAQ section worth noting.
Registering on the Traderup website is quite the adventure. For instance, we spent a good 10 minutes searching for the registration form because, instead of the expected “Get Started” button, there’s only a login form. And guess where we eventually found the registration form? In the chat! It’s just sitting there as if it’s always been there, waiting for you to click on it. Whether you figure that out or not is apparently your problem.
However, here’s another kicker: even if you do manage to find and click on the “Register” button, you’ll still end up back at that same pesky login page. What’s going on here and why Traderup is so intent on hiding its client portal is a real puzzle to us.
Traderup Trading Conditions
If you thought the registration form was the end of the oddities, just wait until we delve into the trading conditions. Here, we encountered quite a bit of interesting surprises as well.
Account Types Review
So, Traderup offers its clients five account types. You can start trading with the Bronze account. However, you’ll need to deposit a minimum of $10,000. Where did these numbers come from? Well, we’re not quite sure, especially since the FAQ states that you can fund your account with as little as $300. Overall, what happened with the trading conditions here is anyone’s guess. The other account types, respectively, require deposits of $25,000, $50,000, $100,000, and $250,000. If you ask for our opinion, no, the broker is not worth it, not even remotely. Seriously. In the higher-ranking accounts, Traderup offers increased leverage, personal manager support, practical training, risk-free trades, and other stuff that has nothing to do with real brokers.
Meanwhile, even in the account descriptions, there’s not a word about the actual leverage size, commissions, spreads, and other important details.
As for the trading platform Traderup offers, it’s yet another puzzle. Traderup proudly labels it as their proprietary platform, but we haven’t heard of this software claiming any notable spots or receiving awards in the industry. This platform seems to be quite obscure. Furthermore, you can’t download it from an official app store; you can only access the web trader version. And that’s if you manage to decipher the puzzle of how to register here in the first place. Moreover, Traderup doesn’t even provide a demo account. In short, we’re tired of listing the downsides.
Traderup — Deposit and Withdrawal of Funds
Funding and withdrawals on the Traderup platform, well, they’ve brought us to the point of amusement. So, Traderup claims to be so different from other brokers that you’ll be thoroughly impressed, even with regard to depositing funds. To deposit money into your account, you’ll need to contact the project managers via phone. They’ll dictate to you where to send your funds in a live chat fashion. Yes, indeed, why bother providing banking details openly like an honest company, right?
Oh, wait, there’s more to this intriguing story. Withdrawing your money won’t be a straightforward process either. So, as soon as you initiate a withdrawal request, the manager assigned to your account will quickly realize it’s detrimental to your financial well-being and promptly inform you of this. Well, we don’t know about you, but we don’t appreciate some manager making the decision for us about whether we should withdraw our money from the platform. In our opinion, the answer is quite clear. All of this appears to be nonsense and absurdity.
And despite the fact that registering on the Traderup platform is a challenging task in itself, this semi-anonymous broker also requires you to undergo verification. The documents required for this process include something that can confirm your identity and your place of residence. Additionally, out of the blue, they’ll ask for a photo of your card. Why, you might ask, especially when it’s entirely unclear how you’ll even be depositing funds into this platform? You know, throughout this review, we’ve come to the conclusion that Traderup falls into that category of brokers who don’t quite understand what they’re offering and doing themselves.
Unexpectedly, Traderup offers bonuses to your account. After you deposit funds, you can receive a 100% bonus from the broker. Of course, this is not a gift. Bonus funds will need to be worked through before you can withdraw them. Additionally, it’s worth noting that reputable regulators typically prohibit such promotions like deposit bonuses and, in general, discourage brokers from incentivizing clients to deposit funds in this manner. However, it seems that Traderup is not overly concerned about this.
Is Traderup a Scam?
Now, let’s finally address the most crucial aspect that concludes any broker review – Traderup legitimacy.
Legal Information and License
So, the legal information is the little information that is actually available on this website. However, it’s a bit strange that it’s located under the bonus policy tab, but let’s move on. Traderup claims to be officially registered in England. Well, let’s start.
The British registry is one of the easiest to search in, and as you might have guessed, there is no entry for Traderup Management. There are a hundred other matches, but a company with that exact name is not registered. Furthermore, there is no information about such a firm in the FCA registry. This implies that it doesn’t have a license for brokerage services. Well, what kind of license can it have if it’s not even officially registered?
Traderup.com Domain Info
We have reservations about the fact that this broker has been operating for a very short time. It’s just too unknown, and there are very few reviews about it. To support our perspective, we can provide domain data. The official website of this so-called “broker” was registered in 2014. How is that possible? Well, it’s quite simple. These individuals acquired an old domain. In fact, web archives clearly show that it was inactive until 2023, and only in the summer did Traderup start filling out its website.
You can contact the broker via phone number and even live chat. However, when it comes to the address provided, we would strongly advise against physically visiting it. This is because you won’t find a single fake employee of this fake broker in that fake office.
Pros and Cons
- Registration challenges.
- Lack of information.
- Limited platform accessibility.
- Withdrawal and deposit issues.
- No licenses.
- Dubious history.
Frequently Asked Questions (FAQ)
It claims to offer a range of trading services, including access to various trading accounts and financial instruments.
Traderup’s minimum deposit requirement appears to vary. According to their website, the minimum deposit can range from $300 to $10,000 or more, depending on the chosen account type and trading conditions.
No, Traderup does not appear to be a safe and trustworthy broker based on our evaluation. Multiple inconsistencies, questionable practices, and a lack of regulatory oversight cast significant doubt on the platform’s legitimacy.