National Trade Center is a brokerage firm with an average rating of 4 points in reviews, offering clients CFD trading on forex, cryptocurrencies, commodities and other asset classes. The company’s offices are located in St. Vincent and the Grenadines and Cyprus, but no license has been obtained. The business model is unknown, as is the founding date, and legal documents are completely missing. How did the broker get such a high rating among users? Let’s figure it out, because there are signs of a scam here.
Table of Contents
Highlights
| 🏛️ Country | St. Vincent and the Grenadines, Cyprus |
| ⚠️ Regulation | SVGFSA |
| 🖥️ Website | https://thenationaltradecenter.io/ |
| 🎲 Demo Account | No |
| ⏳ Start Time | 2021 |
| 💲 Minimum Deposit | £250 |
| ⚖️ Minimum and Maximum Leverage | 1:50-1:500 |
| ⚙️ Trading Platform | WebTrader |
| support@thenationaltradecenter.io | |
| 📞 Phone | +441669220639, +61870936058, +35722032567 |
First Impression of Thenationaltradecenter.io
The broker’s official website is a bland and unoriginal resource that doesn’t particularly stand out from the websites of other brokerage companies. We are introduced to the trading platform, types of accounts, contacts, educational materials, and a small section about the activities of the National Trade Center. There are a few main legal documents, such as the AML&KYC policy and the user agreement, but registration documents and licenses are missing. Also, the broker hides important information about the duration of its operation and its business model.
The site lacks specifics, evidence, and more precise formulations. Instead, we see unfounded benefits, vague terms, and clichéd phrases. The resource only supports the English language. In general, National Trade Center didn’t bother and provided a dull and templated website.
Partnership and Bonuses
The company offers traders deposit bonuses. However, National Trade Center has quite strict requirements for working off bonus funds. A trader must make a volume exceeding 50,000 times the bonus amount. For example, if a client received $500, then for the withdrawal of bonus funds, as well as the profit earned with their help, to be available, they need to achieve a turnover of $500 * 50,000 = 25 million dollars. Even experienced users will not be able to meet this, not to mention beginners.
Also, National Trade Center has an affiliate program that provides a reward of 10% of the referral’s deposit. Notably, these rewards are also issued in the form of bonuses.
Account Opening on Thenationaltradecenter.io
Account registration begins with providing personal data, contacts, country, and password, as well as agreeing to the user’s terms and confirming the absence of US citizenship. There is no need to verify the email and phone number, which is a significant downside. Another drawback is the absence of a demo account at National Trade Center.
The broker’s dashboard is quite standard and clear. Users are immediately offered to enter the trading platform or download the software to their PC. Additionally, through the personal account, clients can deposit and withdraw funds, edit personal data, and view transactions, and trading history. However, we did not find a feature to upload documents for KYC in National Trade Center.
Verification
The verification process in National Trade Center is mandatory, as indicated in the user agreement. Without KYC, the broker’s services will be unavailable. The company requires proof of identity and residence. Additionally, proof of the payment method is required, and audio and video verification may also be necessary. Sending photos/scans of documents via email is extremely inconvenient. It would be more comfortable and convenient to upload documents through a personal account.
- None.
- May ask for audio and video verification.
- National Trade Center requires you to take a picture of your bank card.
- Uncomfortable to upload documents.
Trading Software
National Trade Center claims to offer the well-known trading platform MetaTrader 5, available in all versions: webtrader, desktop, and mobile. However, our review’s subject is not found in the lists of brokers connected to the MetaTrader 5 software. And the WebTrader interface doesn’t resemble the MetaTrader interface at all. It suggests that the company is misleading users by offering a basic terminal and branding it with a renowned name.
The trading terminal available in the trader’s personal cabinet is extremely basic. There is a chart and tools for technical analysis sourced from the Tradingview service. On the left is the list of assets, where you can create a favorites list. At the bottom is the order panel, and on the right are the parameters for opening a deal. Clients can use both market and pending orders. National Trade Center offers limited capabilities that are not suitable for comprehensive trading.
| Features | National Trade Center | Demaxis | All Capital Trade |
|---|---|---|---|
| Demo Account | ❌ | ❌ | ❌ |
| Mobile App | ❌ | ✔️ | ❌ |
| Own Development | ❌ | ❌ | ❌ |
How Can I Trade With National Trade Center?
The terms and set of additional features depend on the selected tariff plan. Next, we’ll look at the types of accounts available in National Trade Center.
All Info About Accounts
The broker offers a choice of 5 different account types: Micro, Basic, Gold, Platinum, and VIP. The minimum deposit starts at £250, and this is the first negative point in the National Trade Center’s terms because scam firms often set such a high threshold for funding. It’s worth noting that “Micro” account holders, who are most often beginners, do not receive any privileges except for leverage of 1:50, market reviews, and full access to assets.
The second tariff requires a deposit of £5,000, and even then, it doesn’t offer any significant advantages. Tangible services are provided for “Gold” account holders, where a deposit of £10,000 is required. Here, the National Trade Center offers a dedicated senior account manager, bonus funds, lucrative spreads, financial planning, risk management planning, and special venture promotions. The fourth tariff isn’t much different from the third, only offering more favorable conditions. However, the last account type, “VIP”, can only be acquired by invitation and includes access to lucrative VIP events and private analyst sessions.
It’s doubtful that there are traders willing to invest significant sums, starting from £5,000, in a brokerage firm without a license and a reliable reputation. Moreover, we have questions for National Trade Center. What are the spreads? What are the commissions? Is there an Islamic account? In general, the terms cannot be called competitive and beneficial. It seems the company is just trying to coax as much money as possible out of people.
- None.
- No demo account and no Islamic account.
- High minimum deposit.
Market Analysis and Education With Thenationaltradecenter.io
Most features and additional services are available at high deposits, so there’s no point in delving into them. However, there are tools that National Trade Center offers to all its clients:
- Tips for forex trading.
- Glossary.
- Technical and fundamental analysis.
- Economic calendar.
- FAQ.
- Online quotes.
Deposit, Withdrawal, and Fees
Depositing and withdrawing funds at National Trade Center can be done via Visa/Mastercard, bank wire transfer, e-wallets, and Bitcoin. The minimum withdrawal amount is $100, or $250 if through Bitcoin. Deposits are made without a fee, but for withdrawals, there’s a charge of 1% of the amount, but not less than $30 and not more than $300.
| Features | National Trade Center | Xtrader365 | Fin Reserve |
|---|---|---|---|
| Debit/Credit Cards | ✔️ | ✔️ | ✔️ |
| Electronic Payments | ✔️ | ✔️ | ❌ |
| Crypto Transfers | ✔️ | ✔️ | ✔️ |
| Deposit Fee | ❌ | ❌ | ❌ |
| Withdrawal Fee | ✔️ | ❌ | ✔️ |
How Can I Contact It?
To contact the managers of National Trade Center, there are several methods: online chat on the website, three phone numbers, and an email. It’s worth noting that there are no social media accounts, which is odd considering the business is entirely online. Also interesting is that the email turned out to be fake.
- None.
- Email doesn’t exist.
Is National Trade Center Dangerous?
In reality, it can’t yet be said that this is a safe and trusted firm. On the contrary, as National Trade Center provides a fake email, doesn’t specify important terms, and the reviews on the internet look suspicious. It’s essential to look into the most crucial details: the company’s duration of operation and its licenses.
How Long Does The Broker Work?
It’s unsurprising that the specific foundation date isn’t even mentioned on the company’s website. Therefore, we’ll have to refer to the domain registration date as the presumed platform launch date. Thus, the domain for the National Trade Center was registered on January 12, 2022, which is relatively recent. Most likely, the organization had another domain (worldtradecenter.io) on which it originally operated. That one was registered on March 10, 2021, and the web archive confirms that at that time, it indeed was a brokerage firm’s website.
How Is National Trade Center Regulated?
The broker is owned and operated by WTC Group Limited, which is located in Cyprus. An address in St. Vincent and the Grenadines is also mentioned. Therefore, to check the license, we need to examine the registers of CySEC and SVGFSA. In St. Vincent and the Grenadines, there indeed is a company named WTC Group Limited that was registered there in 2021. No such organization was found on the CySEC register. However, what’s interesting is what another regulator, which we didn’t even expect to see, has told us. The FCA, the British regulator, warns of potential scam activities by National Trade Center.
| Features | National Trade Center | Oanda | Spotinvest |
|---|---|---|---|
| European Zone | ❌ | ✔️ | ❌ |
| Asian Zone | ❌ | ❌ | ❌ |
| American Zone | ❌ | ❌ | ❌ |
| African Zone | ❌ | ❌ | ❌ |
| Offshore | ✔️ | ✔️ | ❌ |
Frequently Asked Questions (FAQ)
How to Trade With National Trade Center?
Is National Trade Center Legit?
How Risky Is It?
Kevin Berry Judging by everything, National Trade Center previously went by the name WorldTradeCenter, but something went wrong, and the scammers changed the brand, although they kept the legal entity unchanged. Yes, trading here is not advised, as the broker clearly operates against traders, denying them withdrawals. Positive reviews should not be trusted as they are fake. It’s implausible for such an illegal organization to have popularity and success among clients. After all, what we have in front of us is a typical fraudulent dealing desk that profits solely from draining traders’ deposits. Offshore registration, no licenses, a short period of operation – how many more red flags can one find here?
National Trade Center rating
4 reviews about National Trade Center
SCAM!!! DO NOT DEPOSIT MONEY!! YOU WILL LOSE IT!!! These are scammers and fraudsters who stole $1000 from me!!!
The minimum deposit is too high. No licenses were obtained. No information about the operation period. The company is registered in a dirty offshore location. The address in Cyprus is fake. The firm operates on a B-Book business model. Fake positive reviews online.
Seriously, who would want to work with National Trade Center when it’s a 100% money loss?
For a week now, my request for a funds withdrawal has been pending, but nothing is happening. Is it normal? Who else collaborates with National Trade Center? Do you have the same problems with the broker or is it just me?
In general, I really can’t say anything good about the broker. Spreads and commissions are very high, and the trading terminal performs terribly. Although they claimed to have MetaTrader 5, I never saw it. I had to work through some primitive Webtrader, which barely let me do anything.
That’s why I decided to withdraw my money from National Trade Center. Also, the charts seemed “drawn”, in other words, fake. Too often, I was knocked out by stop-losses. I advise looking for another firm if you’re considering this one.
Of course, I do not recommend trading with National Trade Center, because the company is involved in fraud. And this is not their first year doing so. First, they operated under a different name, now they’ve changed it to National Trade Center, and next, they’ll come up with a third name. It’s a vicious cycle.
I learned about this scam from an old acquaintance who trusted the scammers and invested a substantial amount of money. Around $5,000. The scambrokers took him for a ride, and the person lost everything down to the last cent. Nothing could be recovered. Funny? Not really. If you don’t want the same fate, you shouldn’t invest money in an outright fraud project, created by anonymous crooks with the intention of scamming people out of their money.