Archives: Brokers

Is TD365 Scam or Legit Broker?

No, we can not consider TD365 as a fully secure broker due to the absence of a trustworthy license from a reputable regulatory authority. The broker does not hold a top-tier license from one of the leading financial authorities, such as FCA, ASIC, or CySEC. It is only regulated by the Securities Commission of the Bahamas, SIA-F216.

• Research showed that TD365 cooperates with the broker Trade Nation under the Bahamas entity. Trade Nation is a reputable broker, holding multiple top-tier licenses and enjoying a strong reputation within the market. Therefore, if you are considering choosing a trustworthy broker, we recommend considering Trade Nation as your preferred choice, as it provides access to advantageous offerings and favorable trading conditions.
• Regulatory oversight is a crucial factor in determining the trustworthiness of a broker. A reputable regulatory authority helps ensure that the broker complies with industry standards and follows proper financial practices, which can help protect your investments. Read about Brokers for Investment here. 

What is TD365?

On its website, TD365 mentions a range of opportunities that come with trading with the broker. The broker mentions that it enables its clients to trade the most popular markets with low spreads on its CloudTrade platform. In addition, TD365 offers traders negative balance protection, high leverage of 200:1, a single currency Trading Account, and other benefits.

Nevertheless, after conducting thorough research, we have uncovered important information that should be taken into account before making an informed decision about registering with the broker.

• In fact, TD365 is licensed by the Securities Commission of the Bahamas, which in itself is an offshore zone. However, the broker on some level cooperates with a regulated broker Trade Nation under the Baham entity, a factor that enhances the broker's reputation positively.
• While some of TD365 offerings appear favorable, it's worth noting that the broker's website lacks sufficient educational resources. Traders may need to take the initiative to explore alternative information sources to acquire the necessary skills and knowledge. The sole form of assistance the broker provides is the availability of a demo account and a video guide to the platform. 
• When researching a broker, obtaining genuine client feedback is a crucial step. In our investigation of the broker, we discovered that the reviews are varied, but it's noteworthy that positive reviews seem to be more prevalent.
• At last, considering the information we've gathered, it's important for traders to understand that opting for an unregulated or offshore broker can pose risks to their investments. In the market, there are numerous brokers that are tightly regulated, adhering to strict regulatory standards and inspiring a high degree of trust.

Overall TD365 Ranking

Drawing on a decade of experience in the Forex trading industry, our research has brought to light significant concerns regarding TD365 reliability and its commitment to regulatory standards. As a result, we cannot provide a positive rating for TD365.

• TD365 Overall Ranking is 3 out of 10 based on our testing and compared to 500 other brokers. See Our Ranking below compared to other popular and industry-leading Brokers.

TD365 Alternative Brokers

Due to the safety concerns associated with TD365, we strongly advise traders to consider exploring alternative options that offer stringent regulations and improved trading conditions. Here is a list of reputable brokers that provide reliable choices and a secure trading environment for consideration:

• BlackBull Markets – Good Market Instruments 
• HYCM– Low Spreads and Competitive Trading Conditions
• FBS– The best selection of Educational Resources

Deposits and Withdrawals

Transferring funds to the trading account is a quick and straightforward process. To get started, traders need to log in to their accounts, navigate to the Payments menu, and click on "Deposit Funds." There is the option to deposit funds via bank transfer, credit card, or debit card.

• TD365 does not impose a minimum deposit requirement. Traders can decide on the trading amount that suits their individual financial circumstances.
• Yet, we always advise being careful with offshore brokers, as it is a well-known fact that withdrawal processes might become serious issues and even lead to substantial financial loss.

Trading Platforms

According to the broker's website, the CloudTrade Platform, offers fixed bid-ask prices regardless of market volatility, along with some of the industry's lowest spreads. The platform enables instant execution and traders have the flexibility to specify the stake size in their local currency or the chosen base currency.

• TD365 also provides the industry-renowned MT4 platform, offering tight variable spreads for traders on the MetaTrader 4 trading platform.

TD365 Review Conclusion

Based on the information we've gathered about TD365, there are notable concerns about the broker's reliability. While the broker offers quite attractive features, its registration in an offshore jurisdiction, posses inherent risk and raises doubts, in that word we surely belive it is much better to choose Broker with good regulations rather than signing into risky activity Broker, as trading has enough risks itself.

We highly recommend seeking out a broker that holds licenses from respected authorities such as FCA, ASIC, or CySEC. There are many regulated brokers with great offerings and conditions, also aligned with top-tier regulations, which are considered a safe choice to trade, including FP Markets, HFM, or FXGT.

• Overall ranking and experience for TD365 is Negative

Is Evest Scam or Legit Broker?

Evest does not hold any top-tier license from world-known authorities, that is why it is considered Not Safe to trade with Evest. The broker is registered in Vanuatu (an offshore zone) with the registration number 17910. It is a well-known fact that offshore brokers are not overly secure and signing with them might lead to financial losses.

• In fact, the primary role of the VFSC is to oversee the registration process, which is remarkably straightforward and characterized by minimal setup requirements. This simplicity in the registration process, coupled with low associated costs and rapid establishment, makes Vanuatu an attractive destination for numerous brokerage firms seeking registration.

What is Evest?

With Evest clients gain access to trading Forex, Commodities, Indices, Shares, and Crypto via MT5 and Evest trader platforms. As for the benefits of Evest, there are no commissions for some instruments. Furthermore, the broker provides access to a Trading Academy, a valuable resource, especially for novice traders. Additionally, they offer a demo account and a comprehensive market analysis.

Nevertheless, there are significant factors regarding Evest that need careful consideration before selecting it for trading purposes:

• Evest is owned and operated by AtriaFinancial LTD. The company has a Vanuatu registration. According to the website, the broker maintains offices in Vanuatu, the UK, and Cyprus. However, their primary regulatory authorization is granted by the VFSC (Vanuatu Financial Services Commission). As a result, no other regulatory bodies such as the FCA (Financial Conduct Authority), ASIC (Australian Securities and Investments Commission), or CySEC (Cyprus Securities and Exchange Commission) have granted a license to this broker.
• As per the company's policy, they do not impose any commissions. However, it's important to note that they have other fees, including a $5 processor fee, a 2% conversion fee, and a $75 inactivity fee applied after 2 months.
• When we looked deeper, searching for reviews and feedback from real traders, we found numerous traders have expressed dissatisfaction with Evest customer service and encountered withdrawal problems. Thus, we recommend finding a reliable Investment broker, with good standing in the market and positive feedback from clients. 

Overall Evest Ranking

Drawing upon a decade of experience in the Forex trading industry, our research has uncovered significant concerns regarding Evest's reliability and its adherence to regulatory standards. As a result, we are unable to give a favorable ranking to Evest.

• Evest Overall Ranking is 3 out of 10 based on our testing and compared to 500 other brokers. See Our Ranking below compared to other popular and industry-leading Brokers.

Evest Alternative Brokers

Due to the safety-related issues associated with Evest, we strongly advise considering alternative options that prioritize stringent regulations and improved trading conditions. Here is a list of reputable brokers that offer reliable choices and a secure trading environment for your consideration:

• FXTM – Good Market Instruments 
• HYCM– Low Spreads and Competitive Trading Conditions
• Trading 212– The best selection of Educational Resources

Deposits and Withdrawals

Evest enables deposits through a variety of methods; Wire Transfer, Credit/Debit Card, Maestro, Visa Electron, Skrill, and Neteller. The minimum deposit with the broker is $250. 

• The withdrawal process may require up to 14 days for completion. To be able to withdraw money, the client's account should be verified. The minimum withdrawal amount is $25. There is also a $5 withdrawal fee. 
• Considering the feedback and reviews from clients, it appears that there could be issues with the withdrawal process. Therefore, we strongly advise not to overlook this crucial aspect.

Account Types

The broker provides four primary account types: Silver, Gold, Platinum, and Diamond. Each of these Evest account types comes with its unique features and specifications. The Silver account, for instance, requires a minimum deposit of $250, and it offers daily market summary and analysis. Gold accounts, on the other hand, necessitate a minimum deposit starting at $5,000.

Meanwhile, Platinium and Diamond accounts have more substantial investment requirements, but they offer enhanced trading privileges, including access to a Senior account manager, the Trading Central platform, exemption from withdrawal fees, and a range of other benefits.

Evest Review Conclusion

Taking into account the information we have compiled about Evest, there are notable concerns regarding the broker's trustworthiness and credibility. Despite the enticing features and services it provides, the fact that it is registered in an offshore jurisdiction (Vanuatu) gives rise to considerable doubts, thus traders should exercise caution and better avoid Evest Broker for your trading activity.

We strongly advise you to consider choosing a broker that is licensed by reputable authorities like FCA, ASIC, or CySEC Brokers. Numerous regulated brokers offer excellent services and favorable trading conditions while adhering to top-tier regulations, ensuring a safe trading environment. Some examples include HFM, OANDA, and BlackBull Markets.

• Overall ranking and experience for Evest is Negative

Is IQCent Scam or Legit Broker?

No, IQCent cannot be considered a secure broker as it lacks a trustworthy license from a reputable regulatory authority. It is only registered in the Marshall Islands, which is categorized as an offshore jurisdiction with inadequate safety measures and regulatory standards (Wave Makers LTD - Nr. 103581, Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960).

• Forex industry in the Marshall Islands lacks strong regulatory oversight. Although brokers based there offer various financial services, their regulatory supervision does not meet the stringent standards set by top-tier authorities such as the CySEC or FCA.

What is IQCent?

IQCent is a recently established binary broker, founded by a team of experts in 2017 and commencing online trading operations in 2023. The company is headquartered in Majuro, Marshall Islands. Using their proprietary in-house trading platform, the broker provides trading services for forex, CFDs, cryptocurrencies, and binary options. They offer customers a selection of three distinct account types to choose from. The IQCent customer support team is available round the clock, 24/7. IQcent does not provide MetaTrader platforms. The broker enables traders access to CopyTrading. 

Based on our research we found the following information traders should know before signing with the broker:

• While looking into IQCent, we found important information about the broker's regulation. The first thing traders need to check about a broker is the existence of a tight regulation. However, this is not the case with IQCent, as it is an offshore broker with a license from the Marshall Islands. 
• Some of the IQCent's offerings seem to be pretty favorable, however, its website does not offer sufficient educational resources, and traders should proactively seek alternative information sources to acquire the required skills and knowledge. The only form of assistance offered by the broker is the provision of a demo account.
• Client reviews are also essential to consider before making a choice to sign in with a broker. We revealed that IQCent has mixed reviews. While certain reviews are notably positive, highlighting the benefits of trading with the broker, there are also numerous negative ones that emphasize issues like inadequate customer support and problematic withdrawal procedures, among other concerns.
• Finally, taking into account the gathered facts, traders should recognize that selecting an unregulated or offshore broker can potentially jeopardize their investments. There are numerous tightly regulated brokers in the market that adhere to rigorous regulatory standards and inspire a high level of trust.

Overall IQCent Ranking

Based on a decade of experience in the Forex trading industry, our research has revealed substantial issues regarding the reliability and adherence to regulatory standards by IQCent. Consequently, we cannot give a positive ranking to IQCent.

• IQCent Overall Ranking is 3 out of 10 based on our testing and compared to 500 other brokers. See Our Ranking below compared to other popular and industry-leading Brokers.

IQCent Alternative Brokers

Because of the safety concerns linked to IQCent, we highly recommend exploring alternative options that offer tight regulations and enhanced trading conditions. Below is a list of reputable brokers that provide reliable choices and a secure trading environment for your consideration:

• GO Markets – Good Market Instruments 
• HYCM– Low Spreads and Competitive Trading Conditions
• XM– The best selection of Educational Resources

Deposits and Withdrawals

With IQCent the client is required to deposit funds into their trading account within a period of 90 calendar days starting from the date of its opening. The available minimum deposit is $50.

• In the event of funding through Visa/Mastercard, withdrawals can be processed either through a bank transfer which will be sent to the client through mail upon order.
• The company retains the authority to decline a withdrawal request if there is a clear intention to transfer customer funds from one payment system to another.

Account Types

IQCent offers several account types to cater to different trading preferences and experience levels: Bronze, Silver, Gold, and VIP accounts. The features and conditions vary between different account types. The minimum deposit for Bronze accounts is $50, for Silver accounts, it is $1,000, for Gold accounts, it's $5,000, and for VIP accounts, the minimum deposit is $50,000.

There are other differences, too, such as:

• Withdrawal time, for instance, for VIP accounts the withdrawal is instant, while for Bronze accounts it might take up to 8 hours. 
• Besides, Gold and VIP accounts also offer personal assistance, while for Bronze and Silver accounts the service is not available. 

IQCent Review Conclusion

Considering the information we have gathered regarding IQCent, there are significant apprehensions regarding the broker's reliability and credibility. Despite the broker's appealing features and offerings, the fact that it is registered in an offshore jurisdiction (Marshall Islands) raises substantial doubts, and traders should exercise caution.

We highly recommend seeking out a broker that holds licenses from respected authorities such as FCA, ASIC, or CySEC. There are many regulated brokers with great offerings and conditions, also alighed with top-tier regulations which is considered safe choice to trade, these including FP Markets, HFM, or FXGT. 

• Overall ranking and experience for IQCent is Negative

Is HankoTrade Scam or Legit Broker?

No, it is not safe to sign in with HankoTrade. The broker is registered with the Financial Services Authority of Seychelles (FSA). It is a known fact that Seychelles is an offshore zone, thus it does not provide sufficient protection and does not oversee the financial companies registered under it. 

• The oversight of HankoTrade is lacking rigorous monitoring by reputable regulatory bodies, which means that the broker does not adhere to any specific guidelines or rules and has more freedom to conduct its business as it sees fit. 

What is HankoTrade?

Hankotrade distinguishes itself as an ECN (Electronic Communication Network) broker, emphasizing its commitment to providing exceptional trading conditions (tight spreads,  no commission, etc.) coupled with some of the most competitive commissions within the industry. As an ECN broker, Hankotrade promptly transmits client orders directly to liquidity providers.

However, we conducted detailed research on the broker and were able to make revelations that will help traders have more insight into the broker before making a decision to sign with it.

Here are the main points to consider:

• Lack of serious Regulation: In Forex trading safety is the most important aspect to consider. The first thing traders should pay attention to is the tight regulation of the chosen broker. Only top-tier licenses give the necessary amount of protection and almost exclude financial scams and risky transactions. Top-tier regulations, such as FCA, ASIC, or CySEC provide compensation schemes, guaranteed stop loss, etc. Offshore brokers such as HankoTrade, on the contrary, lack in terms of stability and reliability and often can run financial scams. 
• Reviews from real traders: Not to be misled by the tempting offerings and services brokers promise to their clients, it is advisable to look for reviews from real traders and learn about their experience. This is what we did in the first place, and the reviews we found about HankoTrade were not at all promising. Mostly, clients state that all the promises the broker mentioned, turned out to be from the fantasy genre. 
• Issues with the withdrawal process: The safety of funds is another aspect to consider properly. With HankoTrade the previous track record in respect of withdrawals is not quite promising. Many offshore brokers lack in this respect, and the client can never be sure whether it will be possible to get back the invested money and the profits. As a common practice, scam brokers ask for more investment in order to enable withdrawal, pressuring clients psychologically to risk even more funds. 

Overall HankoTrade Ranking

Based on our extensive experience of over a decade in Forex trading, our research has uncovered concerns related to the reliability and regulatory compliance of HankoTrade. Consequently, we are unable to rank HankoTrade positively.

• HankoTrade Overall Ranking is 3 out of 10 based on our testing and compared to 500 other brokers. See Our Ranking below compared to other popular and industry-leading Brokers.

HankoTrade Alternative Brokers

Based on the safety concerns associated with HankoTrade, we strongly advise considering better alternatives with stringent regulations and better trading conditions. Below, we present a list of reputable brokers with reliable options and safe conditions for your comparison:

• FxPro – Good Instruments and CopyTrading
• FXTM – Low Spreads and Competitive Trading Conditions
• Tickmill – The best selection of Educational Resources

Deposits and Withdrawals

HankoTrade sets a minimum deposit requirement of $10 for STP accounts and $100 for ECN accounts. If you're interested in an ECN Plus account, the minimum deposit is $1000. HankoTrade does not impose any fees on deposits or withdrawals for its clients.

• Hankotrade ensures on its website that all withdrawals are processed within a business day on weekdays. Typically, Hankotrade processes withdrawals using the same payment method employed for making deposits.
• However, based on the information we found on the broker's withdrawal process, our recommendation is to be very careful and make only an informed decision before making any investments with HankoTrade.

Account Types

HankoTrade provides three main account types: the STP account, the ECN account, and the ECN Plus account. Additionally, an Islamic account is also available. To gain comprehensive information about each of these account types, you can visit the 'Account Types' section on the broker's website. HankoTrade enables its clients to run both live and Demo accounts at the same time by simply installing the MT4 platform for each of HankoTrade's forex trading accounts.

• Hankotrade provides swap-free accounts designed to operate in compliance with Shariah law, catering to the needs of its Muslim clients.

HankoTrade Review Conclusion

Based on the information we have gathered about HankoTrade, it raises concerns about the broker's reliability and trustworthiness. While the broker's features and offerings may seem appealing, the fact that it is registered in an offshore zone (Seychelles) is a significant red flag that traders should carefully consider. Additionally, negative trader feedback and reviews further contribute to our reservations about signing up with this broker.

Our recommendation is to find a broker with a license from reputable authorities, such as FCA, ASIC, or CySEC. Some notable options to consider among reliable brokers with good standing include but are not limited to Go Markets, BlackBull Markets, and FP Markets.

• Overall ranking and experience for HankoTrade is Negative