TradesPeck is a broker that boldly asserts its distinctiveness among its rivals. It claims to offer unparalleled features and services, setting itself apart in the market. In our investigation, we aim to uncover the truth behind these grandiose proclamations. Also, we will examine the reviews and evidence, shining a light on whether this broker is a potential scam or not.
- TradesPeck General Information
- Registration and Client Portal Review
- TradesPeck Trading Conditions
- Account Types Review
- Trading Platform
- TradesPeck — Deposit and Withdrawal of Funds
- Additional Options
- Is TradesPeck a Scam?
- Legal Information and License
- Tradespeck.com Domain Info
- Contacts Review
- More Details
- Pros and Cons
- Frequently Asked Questions (FAQ)
TradesPeck General Information
|Address||25 Canada Square, London E14 5LQ, UK|
Registration and Client Portal Review
The official website of TradesPeck leaves a mixed impression. Perhaps it’s because we have a distaste for brokers using stock photos of traders to enhance their credibility, especially when they are prominently displayed. Additionally, we are not fond of the abundance of generic phrases found throughout the website. Furthermore, we would prefer to see comprehensive company information, preferably on the homepage. However, it seems we were expecting too much. On a positive note, the platform is quite user-friendly, with a concise menu and no other noticeable issues.
The broker’s registration process is extremely frustrating for traders. While the questionnaire may seem ordinary, there is one small detail: to gain access to the broker’s services, you’ll need to find a referral code somewhere. Without it, TradesPeck won’t allow you to access the Client Portal.
It’s unfortunate that the broker doesn’t consider those who are not interested in participating in their affiliate program, for instance. Besides, it’s disappointing that they enforce closed registration without providing any explanation for such restrictions.
TradesPeck Trading Conditions
TradesPeck’s trading conditions certainly won’t leave anyone indifferent, and they surely didn’t leave us either. However, it’s in a negative sense.
Account Types Review
The broker offers seven types of accounts, which may seem like a wide variety at first glance. In reality, it raises questions about the broker’s greediness. The Bronze account requires a minimum deposit of 10,000 euros. You might expect some exclusive privileges for such a substantial investment, right? Well, think again. TradesPeck only provides market analysis, access to e-books and webinars, and social trading. However, many other brokers offer similar services with lower requirements. So why does TradesPeck believe in its own exceptionalism?
To open a Premium account, you need to deposit a staggering one million euros. It’s hard to imagine a financially savvy investor who would choose to entrust their funds to a B-book model broker instead of trading directly on the exchange. By the way, the contract specifications are not clearly described in the trading conditions, leaving traders in the dark about important details.
Meanwhile, the broker hasn’t quite figured out the minimum deposit requirement. In the FAQ section, the threshold is suddenly lowered to just $250. Once you deposit this amount, you’ll be able to start trading.
In the trading platform section, we expect to find a description of the well-known software like MT5 or TradingView. However, the reality was quite different. The section was filled with vague discussions about the advantages of web trading, but there was no mention of the actual trading terminal. We have no information about the origin, functionality, or appearance of the software they provide. Furthermore, TradesPeck doesn’t offer a demo account, which adds to the disappointment.
TradesPeck — Deposit and Withdrawal of Funds
TradesPeck offers multiple deposit methods, including bank transfers, credit/debit cards, and cryptocurrencies. The processing time for fund deposits varies depending on the chosen method. Similarly, for withdrawals, you can use the same methods as for deposits.
The broker’s website includes an AML policy, indicating that it has certain requirements in place. From this, we can infer that TradesPeck will likely require verification from its clients. Without registration, it is typically not possible to proceed. While the exact verification procedure may vary, it usually involves the following steps.
- TradesPeck may request scanned copies or photos of your identification documents, such as a passport or driver’s license, to verify your identity.
- You may need to provide a recent utility bill, bank statement, or any other official document that confirms your residential address.
- Depending on the broker’s requirements, you might be asked to provide additional documents to support your verification, such as proof of income or source of funds.
Among the additional options, it is worth mentioning the broker’s bonus program. Although it can be found in other sections. When you make a certain deposit amount, you will receive bonus funds. However, it is important to note that these bonuses cannot be withdrawn immediately. You will need to meet certain trading requirements to unlock them.
In addition to the deposit bonuses, TradesPeck offers a loyalty program for clients who regularly use their services. Based on your account status and activity on the platform, you will also receive rewards. Furthermore, the presence of a referral code during registration suggests the existence of a partnership program. However, detailed information about it is not provided.
Is TradesPeck a Scam?
Literally everything on the official website raises doubts about the legality of the broker’s operations. Let’s take a closer look to determine if our suspicions are justified.
Legal Information and License
As mentioned before, we would appreciate more transparency regarding the management company. After reviewing all the documents, we found no indications of who will be providing services to traders. However, the contact information includes an office address in the UK. This led us to believe that the broker may be registered in the United Kingdom. We checked the registry of this country and found no companies with a similar name and address. Furthermore, we also searched the registry of the FCA (Financial Conduct Authority) and found no matches. It appears that TradesPeck is operating as a broker illegally.
Tradespeck.com Domain Info
Another drawback of TradesPeck is its limited operating time. The problem is that you’re unlikely to have heard of such a company. Just like us. And that’s because it is an inexperienced broker. This website appeared only a couple of months ago. According to the domain lookup service, the domain was registered on February 2, 2023.
At first glance, the contact information seems fine. However, it’s a different story when it comes to office addresses. Of course, it turns out to be fake. It’s not a legitimate address or the physical location of TradesPeck. It’s just a combination of random numbers and letters intended to divert attention.
TradesPeck, in addition to its other shortcomings, is also part of a series of serial scams. It belongs to a whole lineup of pseudo-brokers. These fraudulent brokers operate under different names but follow similar patterns of deceiving unsuspecting traders. For example, this scam line includes PolarBtc, LibreHoldings, TrezoCapital, FuturBTC, etc. They engage in unethical practices, such as manipulating trades, withholding funds, and providing false information.
The main reason why these serial scams are detrimental is that they exploit the trust and financial vulnerability of traders. They lure them in with false promises of high returns and exceptional trading conditions, only to leave them empty-handed and disillusioned.
Pros and Cons
- No legal data
- Lack of license
- No official registration
- The short period of work
- Negative reviews.
Frequently Asked Questions (FAQ)
TradesPeck offers CFD trading, a partner program, and bonuses.
One of two: either 250 dollars or 10 thousand euros at once. Apparently, TradesPeck has not yet decided.
No it’s not. How can a completely anonymous company without a legal registration and license be safe?