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• Our Review Method

• Is Tradovest Scam or Legit Broker?

• What is Trad ovest?

• Conclusion

Our Review Method ▲

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 Tradovest due to the issues we've identified.

Is Tradovest Scam or Legit Broker? ▲

Upon careful scrutiny, it becomes clear that Tradovest does not meet the criteria for a trustworthy and legitimate forex broker. Registered in an offshore jurisdiction, specifically in the Seychelles, Tradovest lacks the proper authorization to operate as a Forex broker. Our investigation revealed that the company's declared registration and location are not authenticated, raising significant concerns about its operations. The absence of a verifiable address, combined with the lack of proper licensing, positions Tradovest as a highly dubious entity, potentially operating from a location entirely different from what is claimed.

• Registered in: Seychelles

• Type of License: Offshore License

• Is Tradovest safe to trade: No

• Recommended Licenses: FCA in UK & ASIC in Australia

What is Tradovest? ▲

Tradovest emerges as a forex brokerage, operated by Celestial Trading Ltd, a holding company based in the Seychelles. This offshore broker is marked by its absence of transparency, failing to provide a concrete address. Instead, it lists various contact numbers across multiple countries (UK, Switzerland, Germany, New Zealand, Austria, and Spain) without any authorized presence in these locations. The requirements for obtaining a license in Seychelles, including the establishment of a domestic company with a share capital of $50,000 and a physical office in Seychelles, are far less stringent compared to the rigorous and costly process of securing a license from the UK’s Financial Conduct Authority or Australia's ASIC, which require significantly higher capital and adhere to strict regulatory standards.

Conclusion ▲

In conclusion, after an extensive review process involving over 1000 brokers, we strongly advise against engaging with Tradovest for trading activities. The offshore registration in the Seychelles, coupled with the absence of a proper Forex broker license, casts a shadow over the legitimacy and safety of trading with Tradovest. Furthermore, the inactivity of the Tradovest website serves as a red flag, emphasizing the importance of prioritizing the safety of funds in forex trading. We recommend traders to seek brokers regulated by reputable authorities like the FCA in the UK or ASIC in Australia, which comply with strict regulatory standards and have a proven track record of reliability. In summary, due to the significant risks identified, traders should exercise caution and avoid Tradovest.