ExperTrades is an unlicensed Forex, CFD and Binary options broker promising upto 95% in potential profits. There are a couple of account manager profiles and some testimonials that might confuse you. ExperTrades furnishes investors with 6 account types namely Silver, Gold, Platinum and Exclusive. The minimum deposit requirement for the most basic account is $100. ExperTrades claims ROI upto 80% daily on the Exclusive account.
What is ExperTrades (Expertrades.com)? Either is ExperTrades scam or legit?
ExperTrades is considered not safe, as it is anonymous and not regulated and licensed by top-tier financial authorities, like the CySEC in Europe, UK FCA, the Australian ASIC and the US CFTC. For more details, please continue reading our ExperTrades review below.
- Aforementioned, ExperTrades is unregulated as they should be regulated if they want to target international customers on regulated markets like the European Union, including the UK.
- Unlicensed brokers like ExperTrades do not have to report to a governing body. This means that if they scam you in any way, whether it be “glitches” or “malfunctions” causing server slippage in their system, or you go to make a withdrawal and they don’t process it (steal your money), you are out of luck. Beyond posting a bad review online, there is little you can do because these brokers have no legal authority to answer to.
- We confirm that ExperTrades is a scam, it claims to have license with the Vanuatu Financial Services Commission – something that turned out not to be true.
- Bear in mind that a legit forex license is the only reason you can trust an online broker, because otherwise, for the safety of your funds you will have to rely entirely on the integrity of the people, who have collected your trading deposit.
Review Verdict: ExperTrades is an Offshore Broker. Your Money is not safe
The ExperTrades scam broker is unfortunately nothing new on the market, there are many similar brokers, like A.B.Capitals, GC Group, GG Trade, Rodeofx. They all work the same way. They do not have appropriate licensing.
Questions to ask to avoid a forex trading scam
- Is the broker regulated?
- If regulated, how trustworthy is the regulatory body?
- Is the broker offering profits or rewards for opening an account?
- Is the broker offering a cash bonus for opening an account?
- Is the broker offering automatic trades or signals to guarantee profits?
- Is any credible information about the company included on its website, such as company history, financials, headquarters’ address, or similar?
- If awards are cited, can I verify their authenticity?
- If a big corporate sponsorship is promoted (e.g. athlete sponsorship), am I doing my due diligence to ensure the company can be trusted?
Is ExperTrades Scam or Legitimate Forex Broker?
ExperTrades Broker is not a licensed broker.
Forex Broker Expert uses a simple method to determine if a Forex broker is legitimate or a scam broker. We look to see if the broker is licensed and regulated by anyone of these regulators; FSCA South Africa, FCA United Kingdom, ASIC Australia or the US CFTC.
In our reviews, we keep reiterating that regulation is the most clear-cut indicator of legitimacy and the best trust-creator in the business. We encourage our readers to invest funds only in properly licensed brokers in order to exclude any risk of foul play.
As usual in such cases our best advise is to deal only with properly regulated brokers, like the ones licensed and authorized by the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) or the Australian Securities and Investments Commission (ASIC).
Cryptocurrency trading can be a lucrative form of making profit if the right tools are used. Make sure to sign up with industry leading and trusted tools for a safe trading experience. Sign up with credible and dependable Cryptocurrency trading platforms with a proven reputation. Reliable and transparent Cryptocurrency trading robots are a gem to have. Sign up with recommended and top rated Cryptocurrency trading platforms with a proven track record.