Reason to avoid: No License
Listed Date: October 28, 2018
Top 3 Regulated Forex Brokers
Beware TradeToro is a Non Licensed Broker. It is NOT SAFE to trade.
- Company name:
Bravos OU Harju maakond. TradeToro.
- Registration Address/ License:
Estonia. St. Vincent and the Grenadines. No License, No Regulation.
TradeToro is a CFD and trading brokerage provider with a diversified offering of assets and number of investment opportunities. The trading name shows its owning company Bravos OU Harju Maakond with registration address in Tallinn, Estonia. Moreover, the firm reveals its connection to the company operating in St. Vincent and the Grenadines, a hub of offshore financial companies.
Actually, that’s a quite confusing information since it is not clear enough how exactly the TradeToro delivers its service and if comply to any of the regulations. By fact, it is obvious that not, therefore the broker’s offering is not overseen by any entity and may be considered as illegal service, as the EU requires strictest licensing.
Overall, it means TradeToro offers unreasonable risk to their investors or traders as simply there are no client’s security rules implemented. Besides, there are vast negative reviews from the traders engaged with TradeToro, as well as states that the broker is a scam. The traders faced some interruption into their trading processes, “advisory” how to place orders next and that’s apart from the issues that the money most probably never returned back to their owners.
Since it is a common practice of scam brokerages, the first step is definitely to check their registrations. It is considered that it is in the investors’ interest to trade only with the Regulated Forex Brokers, as the brokerage apply scope of international standards that prevent unlikely situations. Since the non-authorized firms deliver service according to their own belief, it is definitely risky business to deal with such companies, which we of course recommend to avoid.