Updated on April 29, 2024
Quick Links
In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding Trader.Online due to the issues we've identified.
Is Trader.Online Scam or Legit Broker? ▲
Trader.Online emerges as a broker that is unequivocally fraudulent. The brokerage is incorporated in an offshore jurisdiction and fails to possess any legitimate authorization from a reputable, well-recognized financial regulatory body. It is categorically NOT SAFE to engage in trading with Trader.Online. We consistently advise against dealing with offshore brokers, as the financial services they offer lack credibility and reliability.
For the purpose of verifying the legitimacy of an entity offering investment services in various financial instruments within a given country, one should refer to the registers of authorized financial intermediaries. These lists are typically accessible on the websites of regulatory authorities. We encourage consulting the registers of the most dependable regulators, including the Financial Conduct Authority (FCA) in the UK or the Swiss Financial Market Supervisory Authority (FINMA).
Trader.Online is an offshore brokerage that provides opportunities for trading Forex and Contracts for Difference (CFDs) on a variety of assets, such as commodities, stocks, indices, and cryptocurrencies. As per the information available on the broker's official website, the financial services are rendered by IVY Capital, registered under the company number 86281, with its headquarters located at the Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands.
The website's operations are managed by DDK Ltd, holding the company number 205094347, with its registered and operational premises situated in Sofia, Bulgaria. Nonetheless, the company lacks authorization from the Bulgarian Financial Supervision Commission, meaning that its registration offshore is the sole accreditation the broker possesses. Consequently, the broker is unable to ensure the security of clients' funds or provide the level of protection offered by other regulated entities. This predicament is typical for brokers registered offshore, leading to our firm recommendation to steer clear of such companies.
Moreover, Trader.Online has been the subject of a recent warning by the Portuguese Securities Market Commission (CMVM), which states: "The Portuguese Securities Market Commission (CMVM) issues a warning for investors to the fact that TRADER.ONLINE (www.trader.online) is not authorized to carry out any type of financial intermediation activity in Portugal, under Article 295 (1) paragraphs a) and b) of the Portuguese Securities Code."
We emphatically urge all investors and traders to avoid Trader.Online and any other brokers based in the Marshall Islands. Traders are better served by dealing with brokers that are well-regulated, such as those in the UK or Australia. The overall ranking and experience with Trader.Online are decidedly Negative.
Trader.Online Update
Our research indicates that the Trader.Online website is currently inactive, signaling that the broker has ceased its trading services. Despite this, we advise maintaining vigilance and avoiding any offers that may arise in connection with this broker.
When considering alternatives, brokers like Interactive Brokers, City Index, and AvaTrade stand out. They not only offer the security of stringent regulation but also bring to the table comprehensive trading solutions that can meet the needs of both novice and seasoned traders.
Trader.Online Review 2024
