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Do You Want to Know If TradeOxen Is Legitimate or a Scam Broker?
TradeOxen is a broker that has been flagged by the SEC. Think of all the people, however, who have already lost money to TradeOxen. Was there any way to tell this broker was a scam before it got flagged by a regulator? The most obvious problem is the lack of a license, which is the main reason TradeOxen was the subject of an SEC warning. Also, it issued false guarantees of returns and encouraged clients to make deposits and withdrawals only in cryptocurrency.
There Are Some Problems with TradeOxen
What’s the problem with guaranteeing returns? No licensed broker can tell you what the market is going to do. This is usually a sign they use fake trading software that gives phony market info. TradeOxen has three plants–the first plan guarantees 50-70% return, the second, 70% to 110%, and the third 110% to 190%. This is absurd considering that brokers typically return 5-9% for their clients every year. Clearly, this is fake.
Red Flags that TradeSen Could Be a Scam Broker
- No license
- No transparency
- SEC warning
- Guarantees returns
- Encourages deposits and says it makes withdrawals only in cryptocurrency
- Misleading statements
- Bad reviews
If You Need Fund Recovery from TradeSen, Talk to Us
We create these reviews to warn consumers about brokers and schemes that may be fraudulent. If you have an account with this broker close it and request a withdrawal. If you are not given your money back, contact Broker Complaint Registry right away. We will consult with you, work to track down your funds and create investigative reports, and will assist with fund recovery efforts.