Been Scammed By This Broker? We Can Help!

Fancy graphics and smooth slick websites can sometimes hide a potentially dangerous underbelly. TradeLTD is one such site which uses a legitimate seeming website to detract from their unlicensed and unregulated status. With a good designer, an unregulated site can pass as legitimate to the untrained eye, so if you skim over the small print, you could potentially be losing your hard-earned savings.

Is TradeLTD actually putting your wallet at risk? How can you spot fraudulent sites which camouflage themselves as legit mate businesses?

Broker Data

TradeLTD: An Overview

Founded in 2018, TradeLTD is an online broker site which is owned and operated by Currency Board Oü in Estonia. TradeLTD and Currency board Oü are both completely unregulated and without appropriate licenses. A warning has even been issued against them from The EFSA, also known as Finantsinspektsioon. They warn that they do not hold and activity license investment services and that investors should steer clear of their ‘services’. 

TradeLTD has also been operated under Bushido Technologies Oü, a company which has already been identified as an illegal, offshore and unregulated company. Bushido has already had its fair share of complaints for foul play. TradeLTD is also associated with another scam called the Accion group, and its webpage has since gone down after a flurry of scam complaints.

They purport to be an investment service dealing in Forex and shares with a cashback plan so ridiculously beneficial to the client that it is entirely unbelievable. Once, you have made your investment though you are almost certainly not going to benefit. This scam functions by luring in potential victims with financial promises on a grand scale; in the case of TradeLTD, this is their cashback plan. They promise bigger bonuses with a bigger deposit, but the bonuses never come and instead clients are prevented from withdrawing their money or locked out of their account. The site will eventually disappear into a poof of smoke just as they did with the Accion group and your money will disappear with them.

To prevent customers from withdrawing funds, they are claiming that they require excessive amounts of personal information as ‘proof of identity’. This includes a photo id, proof of address, and a copy of your debit or credit card’s front and back. They assure you that this is all safe and due process by telling you that you should cover the beginning of your card number however this information is already substantial enough for you to also fall prey to credit card fraud. The process of getting your personal information ready and then having the company ‘ process’ it is lengthy, so it gives the fraudsters time to stall on your withdrawal.

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TradeLTD: Scam Warning Signs

So, yes TradeLTD is 100% a scam.

They are an unregulated and unlicensed broker and are most definitely a scam. All reviews from past clients have come out negative, and government financial bodies have warned against them, and the company has a track record of dodgy dealings with the Accion group. Do not trade or invest with this broker, or any unlicensed broker for that matter. There is no outcome in which you end up a winner when investing with TradeLTD.

When investing with them not only are you losing every deposit you make but their stringent withdrawal policy puts you at risk of becoming a victim of credit card fraud and of larger identity theft schemes.

Just because they have a professional and well-designed website doesn’t mean they are legitimate, licensed and safe. Always check the fine print, the reviews and be aware of the classic hallmarks of a fraudulent business.

Spotting a scam broker:

Here are some of the classic hallmarks of a scam broker:

  • Financial authorities issuing warnings against a broker
  • Unregulated and unlicensed brokers
  • An Unsecure web platform
  • A request to give out excessive amounts of personal data for ‘verification’ purposes.
  • Withdrawals being stalled, over-complicated or stopped by the broker
  • A lack of customer service
  • Pushy sales strategies
  • Warnings from former clients
  • Warnings from scam spotters
  • Promises of huge bonuses
  • Being pushed into making multiple deposits

Been Scammed by this Broker?
How can you be helped?

Trader Defence Advisory is providing cutting edge legal strategies for victims of scams such as TradeLTD. Our team of legal experts and industry specialists can help you get your money back with personalized and unique strategies and plans which give you the tools needed to get your money back.

To get us on the case, book a free consultation or directly report a fraudulent broker, merchant or business via our website so we can get to work bringing justice down upon their heads.