Caution Investors tradingspace.pro – Regarding registration of issuance, offer or sale of securities/derivatives, and reporting requirements
Overview:
Tradingspace.pro is a website that offers online trading services for various financial instruments, such as forex, commodities, indices, stocks, and cryptocurrencies. The broker claims to have over 10 years of experience in the industry and to provide a secure and reliable trading platform. However, there are many red flags that indicate that tradingspace.pro is not a legitimate broker, but rather a scam.
Regulation and Compliance:
One of the most important factors to consider when choosing a broker is whether it is regulated by a reputable authority. Tradingspace.pro claims to be regulated by ASIC, which is the financial regulator of Australia. However, this is not true. ASIC has issued a public warning against tradingspace.pro and stated that the broker is not licensed or authorized to provide financial services in Australia. Moreover, tradingspace.pro does not appear to be regulated by any other authority in the world. This means that the broker is operating illegally and without any oversight or protection for its clients.
Customer Reviews:
Another way to assess the credibility of a broker is to look at the feedback from its customers. Tradingspace.pro has very few customer reviews on the internet, and most of them are negative. Many customers have reported that tradingspace.pro is a scam and that they have lost their money with the broker. Some of the common complaints include:
– The broker does not allow withdrawals or charges high fees for them.
– The broker manipulates the prices and spreads to make customers lose their trades.
– The broker uses aggressive and misleading marketing tactics to lure customers into depositing more money.
– The broker does not respond to customer inquiries or complaints.
Products and Services:
Tradingspace.pro offers a variety of products and services for online trading, such as:
– A web-based trading platform that supports multiple languages and devices.
– A range of account types with different features and benefits.
– A selection of payment methods, including credit cards, e-wallets, and cryptocurrencies.
– A free demo account for testing the trading conditions.
– A bonus program that rewards customers for depositing funds.
– An education center that provides learning materials and webinars.
However, these products and services are not trustworthy or beneficial for customers. The trading platform is not secure or user-friendly, and it may contain malware or viruses. The account types are designed to entice customers to deposit more money, but they do not offer any real advantages or guarantees. The payment methods are risky and may expose customers to fraud or identity theft. The demo account is not representative of the real trading environment, and it may give false impressions of the broker’s performance. The bonus program is a trap that prevents customers from withdrawing their money unless they meet unrealistic trading volume requirements. The education center is not informative or helpful, but rather a tool to persuade customers to trade more.
Location:
Tradingspace.pro claims to have its headquarters in Sydney, Australia. However, this is another lie. The address provided by the broker is fake and does not belong to any registered company. Moreover, the phone number and email address provided by the broker are also bogus and do not work. This means that tradingspace.pro does not have any physical presence or contact details, and it is impossible to reach or verify the broker.
Customer Service:
Tradingspace.pro claims to have a professional and friendly customer service team that is available 24/7 via phone, email, live chat, and social media. However, this is another false claim. The customer service of tradingspace.pro is very poor and unresponsive. Many customers have reported that they have never received any reply or assistance from the broker’s support team. Furthermore, the customer service agents are rude and unprofessional, and they often pressure customers to deposit more money or ignore their requests or complaints.
Is Your Money Safe in an unregulated company?
The answer is no. Your money is not safe in an unregulated company like tradingspace.pro. When you deposit money with an unregulated broker, you are exposing yourself to many risks, such as:
– The broker may disappear with your money at any time without any notice or explanation.
– The broker may use your money for its own purposes or invest it in risky or illegal activities.
– The broker may not segregate your funds from its own funds or keep them in reputable banks.
– The broker may not have adequate capital or liquidity to cover its obligations or liabilities.
– The broker may not have any insurance or compensation scheme to protect your funds in case of insolvency or bankruptcy.
Defensive Measures Against Fraudulent Brokers
If you want to avoid falling victim to fraudulent brokers like tradingspace.pro, you should take some defensive measures, such as:
– Do your research before choosing a broker. Check the broker’s reputation, regulations, customer reviews, and terms and conditions.
– Only trade with regulated brokers that have a license from a reputable authority and that comply with the rules and standards of the industry.
– Avoid brokers that offer unrealistic or suspicious offers, such as high leverage, low spreads, or large bonuses.
– Test the broker’s trading platform and customer service before opening a real account. Make sure that the platform is secure, reliable, and functional, and that the customer service is responsive, helpful, and professional.
– Be careful with your personal and financial information. Do not share your passwords, PINs, or verification codes with anyone. Use strong and unique passwords for your accounts. Use secure and reputable payment methods for your deposits and withdrawals.
– Monitor your trading activity and account balance regularly. Check your statements and transactions for any errors or discrepancies. Report any issues or problems to the broker as soon as possible.
– Withdraw your profits regularly and do not leave too much money in your account. Do not accept any bonuses or incentives that may restrict your withdrawals or impose additional conditions on your trading.
Conclusion:
Tradingspace.pro is a scam broker that pretends to be regulated by ASIC but is not. The broker has many warning signs that indicate that it is not trustworthy or reliable, such as:
– False claims of regulation and compliance
– Negative customer reviews and feedback
– Poor products and services
– Fake location and contact details
– Unresponsive and unprofessional customer service
You should avoid tradingspace.pro at all costs and do not trade with this broker. If you have already deposited money with this broker, you should try to withdraw it as soon as possible and report the broker to the authorities. You should also seek legal advice if you have suffered any losses or damages due to this broker.
