Tradinv Review – The Worrisome Facts about this Broker

Tradinv Review

Cryptocurrencies have garnered a lot of attention these days. Even though they are volatile trading instruments, this volatility has allowed many to make substantial profits and this has got a lot of people interested in trading them. Therefore, it is not surprising that the number of crypto exchanges and trading platforms appears to have exploded online. You will find a long list of them and new ones are added on a daily basis. But, this Tradinv review shows that not all of them are what they appear, or what they claim to be.

Many people have had to learn this lesson the hard way and you should learn from their mistakes instead of making the same ones. This means that when you are searching for a brokerage, or exchange to engage in the crypto market, you need to be thorough. You should not fall for a platform’s promises or claims because this is the internet and anyone can say what they like. This is what usually happens in the case of scams.

Fraudulent brokers will make impressive websites and promise you big things and you will find out later that it is all a lie. You really do not want that to happen, especially when you are interested in making more money and losing your investment is not how you want to go about it. The easiest way to avoid such a scenario is to be cautious when you are signing up on a platform. You have to ensure that you are dealing with a legitimate and professional company that can provide you the services you need.

Unfortunately, you will find that Tradinv is not one of these. Sure, it does try very hard to impersonate a legitimate crypto platform, or binary options broker. But, there are some worrisome facts that you will discover about it. What are they? You can learn more below.

No licensing and regulation

The first tip that an expert will give you when you are looking for an online brokerage is to always choose one that is properly licensed and regulated. Why is that? This is because it minimizes a great deal of risk as it offers you security. Licensed and regulated companies are monitored and can be held accountable. They have to maintain standards in terms of service and can offer you peace of mind with their policies.

Thus, you need to check and ensure that Tradinv is licensed and regulated before you sign up with them. The problem here is that you will find that the company is mostly anonymous. It does not provide much details about itself. The only information you find is that it is based in Australia. This means it should have a license from the Australian Securities and Investment Commission (ASIC), but you will not find it in the online register of the regulatory body.

It implies that Tradinv is not being honest about where it is based and such a company cannot be trusted. Secondly, you will also find that Tradinv claims to be regulated by the ‘Financial Commission’ as well. The problem is that there are multiple organizations by the same name and the brokerage has failed to clarify which one it is talking about. A genuine and legitimate brokerage will never make such a mistake.

No professional trading platform

The trading platform that an online broker offers to its clients is considered its most important feature because it is used for executing trades in the financial markets. It also boasts the trading tools that are used for making decisions, which means it can have a big impact on your trading journey and performance. Hence, you have to ensure that the broker you choose can offer a competent trading platform.

When you check out the trading platform that Tradinv offers, you will discover that it is a basic web trading platform. It is overly simplistic and lacks a great deal of tools and features that can be quite handy. These are usually available with the leading trading platforms in the market, such as the MetaTrader 4 and the MetaTrader 5. You will find these platforms offered by most professional brokers in the market.

No clear trading conditions

The trading conditions that a broker offers are also highly important because they have a direct impact on your costs and profits. You do not want to share most of your profits with the brokerages and do not want to deal with any surprises in terms of costs. The best way to avoid this is by checking the trading conditions of a broker beforehand and this is where you will encounter trouble with Tradinv because it has not mentioned anything.

Bear in mind that a genuine company will always be transparent about the trading conditions it offers and will not try to mislead you in any way. But, Tradinv just mentions that it has a minimum deposit of $100. It does say that it charges commission, but have not mentioned any percentage or amount, so they can charge pretty much anything later.

Moreover, you will find that Tradinv also offers binary options trading and this is a major warning sign. This is because binary options trading has been banned in numerous jurisdictions due to their risky nature and brokerages that offer it are usually scams.

Only crypto payments

Since Tradinv has portrayed itself as a crypto exchange/brokerage, it is not surprising that it only offers support for crypto payments on its platform. Yes, it has offered a huge list of cryptocurrencies that can be used for making deposits, but it cannot be ignored that there are no other payment options.

The problem with cryptocurrencies is that their payments are final and irreversible. This means that if there is a problem and you want a refund, you cannot file a chargeback. Therefore, crypto is the favorite method of scam platforms like Tradinv and why you should be worried about it.

Final Word

These worrisome facts that you discover about Tradinv show that you should avoid this platform altogether.