Is Tradovest a scam or a legit broker?

Tradovest is not a secure broker because it is registered offshore and does not hold a proper Forex broker license. While we checked the company there is no authorization or registration of the address, therefore the company seems to be highly suspicious while might operate its services from an absolutely different location.

About Tradovest
🗺️ Registered inSeychelles
🗺️ Type of LicenseOffshore License
🛡️ Is Tradovest safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

Tradovest forex broker is owned by a Seychelles-based holding company called Celestial Trading ltd. It is an offshore broker that doesn’t provide its addrees, but provides different contact numbers in different countries (UK, Switzerland, Germany, New Zealand, Austria and Spain). Although the company is not authorized in any of them. The key requirements for the Seychelles license are: domestic company in Seychelles with share capital of $50,000 and an operational office in Seychelles. The advantages of this license are speed and low cost. Comparing the license from UK’s Financial Conduct Authority, it costs USD 50,000 and also needs USD 100,000 of capital for the STP license aside from client deposits.

Conclusion

We strongly advise opening a trading account only with the brokers that are regulated by the respected world authorities that comply with the required set of rules and a good reputation through the delivered timeframe of operations. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as AvaTrade and XM.com.

Yet, it is always great to hear your personal opinion about Tradovest. So you may share your experience or thoughts or discuss them below or ask us for additional information.

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