Caution Investors Tradercode – Regarding registration of issuance, offer or sale of securities/derivatives, and reporting requirements
Overview:
Tradercode is a company that claims to offer online trading services on various financial instruments, such as forex, stocks, indices, commodities, and cryptocurrencies. According to its website, Tradercode has over 10 years of experience in the industry and provides access to advanced trading platforms, educational resources, market analysis, and professional support. However, the website does not disclose any information about the company’s legal name, registration number, address, or contact details. The only way to reach Tradercode is through an online form or a phone number with a UK country code.
Regulation and Compliance:
The most alarming fact about Tradercode is that it is not regulated by any reputable authority. The FSMA of Belgium has warned the public that Tradercode is not authorized to provide investment services in or from Belgium and that it may be involved in fraudulent activities. The FSMA also advises against responding to any offers made by Tradercode and against transferring money to any account number it might mention. Moreover, Tradercode does not comply with the rules and regulations of other jurisdictions where it operates or targets customers. For example, Tradercode does not have a license from the Financial Conduct Authority (FCA) of the UK, the Australian Securities and Investments Commission (ASIC), or the Cyprus Securities and Exchange Commission (CySEC). This means that Tradercode is operating illegally and without oversight from any regulatory body.
Customer Reviews:
The customer reviews of Tradercode are mostly negative and reveal many complaints and issues with the company. Many customers claim that Tradercode has scammed them and that they have lost their money or been unable to withdraw their funds. Some customers also report that they have been pressured by Tradercode’s agents to deposit more money or to accept bonuses with hidden terms and conditions. Others accuse Tradercode of manipulating the prices and spreads on its platform or of closing their positions without their consent. The overall impression from the customer reviews is that Tradercode is a dishonest and unprofessional broker that should be avoided at all costs.
Products and Services:
Tradercode offers online trading services on various financial instruments, such as forex, stocks, indices, commodities, and cryptocurrencies. The company claims to provide access to advanced trading platforms, such as MetaTrader 4 (MT4), MetaTrader 5 (MT5), and WebTrader. However, the website does not provide any details or screenshots of these platforms or their features. The website also claims to offer educational resources, market analysis, and professional support, but these are either very limited or nonexistent. The website does not mention anything about the trading conditions, such as the minimum deposit, leverage, spreads, commissions, fees, or execution speed. The website also does not provide any information about the payment methods or withdrawal policies.
Location:
Tradercode does not disclose any information about its location or contact details on its website. The only way to reach Tradercode is through an online form or a phone number with a UK country code. However, this does not mean that Tradercode is based in the UK or that it has any connection with the UK market. In fact, Tradercode does not have a license from the FCA of the UK or any other authority in the European Union (EU). Therefore, Tradercode’s location is unknown and suspicious.
Customer Service:
Tradercode claims to offer professional support to its customers through phone, email, live chat, and social media. However, many customers report that they have experienced poor customer service from Tradercode or that they have been ignored or blocked by the company. Some customers also complain that they have been harassed or threatened by Tradercode’s agents when they try to withdraw their money or close their accounts. The customer service of Tradercode seems to be unresponsive, rude, and aggressive.
Is Your Money Safe in an unregulated company?
The answer is no. Trading with an unregulated company like Tradercode exposes you to many risks and dangers. First of all, you have no protection or recourse in case of any dispute or problem with the company. You cannot rely on any authority or agency to intervene or help you recover your money. Second, you have no guarantee that the company is following the best practices and standards of the industry. You may face issues such as price manipulation, platform malfunction, unfair terms and conditions, hidden fees, or delayed or denied withdrawals. Third, you have no assurance that the company is keeping your funds in segregated accounts or that it is using reputable and secure payment providers. You may lose your money due to fraud, theft, or bankruptcy.
Conclusion:
Tradercode is an online trading company that has been warned by the FSMA of Belgium for operating without authorization and possibly engaging in fraud. The company is not regulated by any reputable authority and does not comply with the rules and regulations of the jurisdictions where it operates or targets customers. The company does not disclose any information about its location or contact details and offers vague and misleading information about its products and services. The customer reviews of Tradercode are mostly negative and reveal many complaints and issues with the company. The customer service of Tradercode is unresponsive, rude, and aggressive. Trading with Tradercode exposes you to many risks and dangers and is not recommended.
