Today, in our review, we will take a closer look at the broker TradeStatione. This company assures that you will receive many advantages by trading with it. Moreover, for some reason, they claim that investing is not risky. This looks like a scam, doesn’t it? Let’s check what allows the broker to make such claims and whether it is safe to trust it.
- TradeStatione General Information
- Registration and Client Portal Review
- TradeStatione Trading Conditions
- Account Types Review
- Trading Platform
- TradeStatione — Deposit and Withdrawal of Funds
- Additional Options
- Is TradeStatione a Scam?
- Legal Information and License
- TradeStatione.com Domain Info
- Contacts Review
- Pros and Cons
- Frequently Asked Questions (FAQ)
TradeStatione General Information
|Address||256 Mortlake High St, London SW14 8SJ, UK|
Registration and Client Portal Review
So, visitors are assured that they have come to the right place. At least, if they are going to trade on financial markets. It should be noted that the official website of TradeStatione is full of such loud phrases. The broker is not at all shy about praising itself. However, all these empty words are worth nothing. It would be better if the broker paid more attention to describing the management company. So far, the most valuable information on the site is the comparative characteristics of trading accounts.
Registration on the TradeStatione website takes just a couple of minutes. All prospective clients need to do is fill out a small form with their personal information. This includes providing their name, surname, and contact details, as well as creating a password. However, TradeStatione doesn’t seem to take accounts’ security very seriously. The platform doesn’t have two-factor authentication, and your email and phone number aren’t verified upon registration. Overall, we have growing concerns about this broker.
The Client Portal didn’t impress us either. It’s quite simple. There are all the standard functions, but nothing more. You will have access to financial transactions, account settings, and a trading terminal.
TradeStatione Trading Conditions
We are now diving into TradeStatione’s trading offers. Perhaps this is where the broker excels and surpasses its competitors.
Account Types Review
TradeStatione offers several types of accounts. As usual, the more money you deposit, the better conditions and the more services you will receive. However, this is often a tactic used by scam brokers. There are four types of accounts: Classic, Gold, Prime, and Elite. The first three require deposits of 500, 10,000, and 50,000 euros, respectively. The minimum deposit for an Elite account is kept secret, and you need to contact managers to find out. The higher the premium of your account, the lower the spreads.
Unfortunately, TradeStatione only includes margin call notifications via email or SMS in the Elite account. This service is not premium and should be included for all clients. Additionally, the company limits the available trading assets. The full list of instruments is only available for trading with the Elite account. In general, there is no doubt that the broker wants your money, so they have made trading conditions on regular accounts less favorable. Perhaps this will motivate you to open an Elite account?
The platform is just as mediocre as their website. The broker only provides a web version and a downloadable app for PC. This software is not the most popular or functional trading terminal. It seriously lags behind industry leaders. As usual, the main functions are there, but the platform is unlikely to be enough for professional traders.
TradeStatione — Deposit and Withdrawal of Funds
TradeStatione offers several deposit methods. You can use wire transfers, credit and debit cards, and electronic payment systems like SmartPay and Paysmart. Each payment method has a minimum deposit amount. For withdrawal, you can only use a wire transfer and credit card. There are no other options available for withdrawal requests.
Documents for verification can be uploaded through the Client Portal. Copies of an identity document and proof of address will be required. TradeStatione may also require a bank statement, DOD, and a few other documents.
The broker offers most of the additional services only to owners of the Elite account. Additionally, there is a promo code in the registration form, which may indicate that TradeStatione supports an affiliate program. However, no information on rewards for referring clients is published.
Is TradeStatione a Scam?
Maybe you still don’t see that this is a scam, but we have realized it from the very beginning. Now we will present several arguments.
Legal Information and License
The scammers have finally shown some originality in crafting their story. TradeStatione claims to have even received permission to operate in Europe. They provide a link to a license issued by the Financial Certification Organization. What is Fincertus? Just another fake company. It has no authority to license brokers. This is yet another scam that creates licenses for other scammers. By the way, this site only appeared in October 2022 and is completely anonymous.
In short, TradeStatione only has a fake license from a fake regulator. In reality, this broker is not even registered as a legal entity. Do not confuse it with the more popular broker TradeStation, located on the website tradestation.com. They are completely different companies.
TradeStatione.com Domain Info
By the way, this fake license also claims that TradeStatione has been operating since 2012. In reality, the project has barely been operating for a year. Checking the domain registration shows that it was registered in the autumn of 2022. There are no ten years of experience under the belt of this fake scam.
The contact information seems fine, but customer support tends to ignore clients. Also, there is no office of such a company at that address.
Pros and Cons
- Low minimum deposit.
- Fake license from the fake regulator.
- The company does not have a physical office.
- No legal registration.
- The website is poorly designed.
- The customer support is unresponsive.
- The broker does not offer any educational resources or tools for traders to improve their skills.
- The withdrawal process is slow and there have been reports of funds being withheld or delayed.
Frequently Asked Questions (FAQ)
It offers trading services for CFDs on various assets including stocks, forex, commodities, and cryptocurrencies.
According to their trading conditions, the minimum deposit required to start trading with this broker is 500 euros.
No, it is not safe to trade with, as it has a fake license from a fake regulator, and there is no evidence of its registration as a legal entity.