The blind spot of online trading continues to attract new investors every day. However, not every broker follows through with what they say. Trade245 is a name that has a variety of red flags popping up, and one that brands itself as a trusted broker from South Africa with a professional website. But there is so much evidence indicating the company might not be as trustworthy as they want us to be.
Licensing Issues
When looking for a broker, regulation is one of the most important things when you are looking for a trustworthy broker. Trade245 did not provide us with much insight into their regulatory framework. Many investors who attempted to find out the licensing proved to us inaccurate data for all the license checks, and in one case, no real license number was checked at all. If you are considering depositing funds with this broker, you should be concerned about this lack of regulatory practice.
Reported Problems when cashing out
Users said cashing out or making withdrawals is the main issue. Many traders have reported period delays of up to weeks or have stated their withdrawal requests were declined altogether. In many instances, accounts were suspended when the user started the withdrawal process. These situations are the biggest red flags of all and are characteristics of what looks like scam brokers and red-flag brokerages, where a brokerage retains the client’s funds and then locks them into a position where access to funds is denied or limited.
Customer Service Issues
A good broker can solve issues with a responsive customer service team. Trade245 has been described as unresponsive and useless in customer service. Many investors stated they received auto or template replies, rather than any answers. This type of lack of accountability is detrimental to trust and credibility.
Misleading Marketing
Trade245 relies on trader attention by providing account protection, easy withdrawals, and educational resources. While these may look good, trader experience indicates these areas may be misleading. For instance, the so-called ‘educational resources’ were generic in nature, and the claims that account protection is available are often not the experience of the investor in reality.
Conclusion
Overall review of many independent sources indicates that Trade245 has indications of being a high-risk, likely fraud broker. Unresolved withdrawal issues, vagueness and/or inconsistency in regulation claims, and unhelpful customer service put the trader in an unsafe trading environment. Investors should be warned away from Trade245, and also consider trading with brokers who are fully licensed and can operate openly with regulation from a known authority.
Trade245 scam FAQ
1. Is Trade245 a regulated broker?
Not since is there no reliable evidence of strong regulation it is a huge red flag.
2. Are investors able to withdraw funds from Trade245?
Many investors have different payout issues as, denied or outdated withdrawals.
3. Where do they say they are based?
They say they are in South Africa but we honestly do not know if they do trade there.
4. Is Trade245 consistent and responsive with customer support?
Most reviews say there was poor customer support with nothing to support or very little communication.
Reclaim Your Lost Funds with Cyber Scam Recovery Services
If you have been victimized by a Trade245 scam or any other fraudulent scheme, consider seeking assistance from reputable organizations like Cyber Scam Recovery, which specializes in fund recovery. Our free consultations can guide you through the process of recovering your funds, ultimately prioritizing your financial well-being. Stay watchful and informed to safeguard your financial interests in an ever-changing financial world.
If you have fallen victim to forex scams, cryptocurrency scams, or any other fraudulent activities, reach out to us for assistance and support.
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