A high-leverage trading platform is risky; itís what Trading-times is bringing to the table. Nearly all regulators point out that high-leverage trading is risky for retail traders. Trading Times is not bothering to adhere to such sensitive regulation. The result has a risky trading platform that will most likely lose clients; funds. To add salt to injury, Trading-times.com is an offshore broker based in the Marshall Islands. Please get to know what we found under the brokerís trading portal.
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On their about us page, they claim that Trading-times is an innovative brokerage company. Once you read their about us page, you may easily fall for what they are selling. Underneath the information is a heap of lies. The end product is unsuspecting investors filling the pockets of online scam artists. These pretend-to-be brokers are all scam artists, despite what appears to be a legit website. The website is aesthetically pleasing; the broker wants to impress anyone who visits it.
Their signup portal reveals another problem with the platform. You will receive a promo code, which means they can tag your mobile phone number. These scam artists use your mobile number to call you at odd hours. You wonít get the chance to say no as they will bombard you with numerous promotional materials. Make sure you share your personal details, such as contacts, to reliable websites. These brokers will later use your information to create other identities.
Business proprietor of TradingTimes
According to the disclaimer at the footer of their page, Time Logic LTD runs the website. After searching for this companyís information, we found one that does not match. Thereís a company that goes by a similar name but deals with bioinformatics.
And this means that the owners of the brokerage firm want to use another companyís image. These owners want to stay anonymous, which is a red flag. Anyone joining an anonymous online investment platform is risking a lot.
Comments and user ratings
Thereís no user rating on the platform, even on websites such as Trustpilot. We donít get to see any chatter involving this platform, which is a huge problem. Ensure you check the details of your broker regarding rating and user experience. With no ratings for a broker that claims to be a game-changer, somethingís amiss.
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Donít be the one to comment on how you lost money; wait and see who else rates this broker. We believe that the broker is not as reliable as they want to appear.
At the disclaimer of their homepage, there are testimonials about user experience. These testimonials are from Adrian, Anida Neo, Steve Smith, and others. We donít get to see the faces of these Ďhappy clients,í only their comments.
These are paid comments that the broker uses to entice naÔve investors. Be on the lookout for such comments as they donít have any concrete proof. Thereís no video from anyone who has made any substantial profit with this brokerage firm.
Company trading products
On their services page, we get to see the trading instruments available on the website. These instruments include bonds, commodities, forex, indices, portfolios, and stocks. We donít get meaningful information regarding these assets. Members get to set maximum leverage of 1:100, which is more than allowed in most regions.
Itís three times as much as the leverage imposed in the EU region. The broker is going for the high leverage in an attempt to entice clients to sign up. Donít buy this, as you will likely lose a huge chunk of your deposit in an instant.
Domain checker details
After checking their online history, we could see a lot of problems popping up. One huge problem is the number of IP changes under the website. According to domain checker details, the website went live on 5th August 2019.
A huge anomaly was seen in regards to their IP history. The website has seen 31 changes over the past 17 years. And this means that the website was going under a different name. These are scam artists who jump ship once their ship goes under.
Guarantees, Certification, License, and Registration of Trading-times
The disclaimer at the footer of their homepage says it all about their registration. Trading-times is a broker that gets its license from the Marshall Islands. It goes to say that Trading Times is an offshore broker, and thus, trusting them is a problem.
We donít know whether the regulator allows the broker to deposit a minimum capital requirement. It means that the regulator only protects the broker from liability and not the clients. And this is why shoddy brokers go for offshore Ėled licenses.
Despite claiming to have a license from the Marshall Islands, we donít see any copies. We only get a registration number 102943, which is hard to track down. The registration number is for the mother company and not the broker.
All efforts to try and get the broker to comment on their license status were futile. It seems that the broker does not want to touch on it. And this is why we believe that the entire platform is a trap for naÔve investors. Beware of offshore brokers.
Pros and Cons of Trading-times
Trading-times is a platform that does not indicate their account tiers. We donít know the minimum deposit for these accounts if there are any. And this is another red flag that we must expose. Thereís a reason offshore brokers fail to give information on their accounts.
Taking advantage of the misinformation, they will ask for any amount. One client may deposit $10,000 while another will deposit $100 for the same account. With no way of knowing the minimum deposit, the broker opens a shop for scamming investors.
Deposit and withdrawal conditions
From what we know, offshore brokers accept credit cards and wire transfers. The problem with such transactions is that thereís no way of tracking the funds. These brokers may open a bank account with the platformís name, but the owners are in Europe.
We donít get to see any deposit and withdrawal terms and conditions. There are way too many loopholes within the platform. Making any deposits is a problem as no one has come out with proof of withdrawing funds.
MT5 Trading Platform
Although the broker claims to have MT5 on their website, itís not the case when you sign up. Members get the MT4 trading platform, which is ideal. We donít get why such a broker would make such mistakes in the first place.
The MT4 and MT5 platforms are the best trading systems in the industry. You can download them for free, and they are compatible with most devices. The platforms come with commendable features such as customization and learning tools.
Safety of funds with Trading-times.com
Thanks to their lack of credibility and outright disregard of trading regulations, fundsí safety is out of the question. Your funds wonít be safe from an offshore broker who hides their true identity. Thereís a high chance that those who deposit large amounts will lose almost half instantly with anonymity. Please stay away from such platforms as they protect clients; neither do they segregate accounts.
Scam or legit Trading-times
Trading-times is a scam that ought to be thrown out. Stay away from any other platform that shares similar features.
With all evidence pointing to this platform being a scam, we wonít be recommending it.
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We wish everyone a successful trading experience.
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