TradersHome Review by Expert: Is It a Fraud or Safe Broker?

Meet the illegal broker with an interesting name, TradersHome, but is it truly a home for traders, or just another trap from which you won’t be able to withdraw your money? The company claims to be an international organization covering more than 100 countries. Additionally, it asserts segregated client fund storage, registration of the legal entity in Saint Vincent and the Grenadines, and using ECN/NDD technologies. Believing this, of course, is unwise. Especially considering the small number of reviews on the internet, which indicates a potential scam.

Highlights

First Impression of Tradershome.com

Getting to know a broker starts with its official website, as this is the business card for any online company. TradersHome disregarded this, presenting only a semblance of an official site. It is translated only into Russian, besides English, yet the firm portrays itself as a global intermediary, which is clearly a blatant lie. At the top of the page, there are statistics claiming over 230,000 traders and trading volume in the past 24 hours. These numbers should definitely not be trusted, as there is no evidence to prove them.

The website is full of attempts to lure users into creating a personal account and then depositing funds. These attempts are evident in pseudo-motivational phrases like “market opportunities are endless” or “fair pricing, our guarantees, quick transactions”. Such offers have no real value for the client, yet they fill the entire site.

A banner about Covid-19 still hangs on the homepage, which has long lost its relevance, while financial market participants now have entirely different concerns. TradersHome is stuck in the past and seems unwilling to update and move forward. Can such a site be described as professional and high-quality? Absolutely not. In conclusion, there is a lack of transparency from the broker. Many details about itself are not disclosed, such as the founding date.

Partnership and Bonuses

How can one guess that the company has an affiliate program if it is not mentioned on the site? Many brokers ask for a referral code during account registration, and TradersHome is no exception. The organization either forgot or did not want to explain the affiliate program to users, but it asks for a referral code. There is no mention of bonuses at all. They probably do not exist.

Account Opening on Tradershome.com

It’s interesting, is the personal account as low-quality and primitive as the official website? Or did the company make an effort and create a high-quality client area to make it comfortable and convenient for traders? To find out, you need to register.

The registration procedure is not quick at all, because users are asked to provide not only their contact details and password, but also a detailed residential address (country, city, street, and zip code). Additionally, they are required to choose a currency (USD or EUR) and agree to the terms. Why do traders need to provide their place of residence during the registration stage? Wouldn’t it be easier to do this during the KYC process, where these details will still need to be confirmed with documents? TradersHome does not care about their clients at all; they do not want to make it convenient and practical for them.

The time spent filling out all the details turned out to be wasted. After clicking the “submit registration” button, a window appears with the message “Try again or request help from our live chat”. What online chat are they talking about if there is no such option on the website? Do TradersHome take their users for fools?

Verification

The official website has a KYC policy, which consists of only three paragraphs and provides little useful information. For example, the verification procedure at TradersHome is mandatory, yet it is quite standard. It is enough to provide proof of identity and proof of residence. The document processing time is stated to be 24 hours, but how it actually works is unknown. Other details are not disclosed. Moreover, it is impossible to check whether it is convenient to upload documents through a personal account or not.

Trading Software

How can one explore the trading platform if there is no access to the personal account due to the inability to register? Seeing it firsthand is impossible, so one has to rely on the description provided on the official website. Certainly, TradersHome will claim that they have the best, most advanced, and superb platform.

However, there is no detailed description of the terminal’s features and functionalities. The section dedicated to the trading platform only presents screenshots of how it looks, as well as links to WebTrader, the mobile app, and the desktop application. There is a problem: the links are available only to registered users, but registration is impossible due to an error. The software’s name is also not mentioned. Are there really apps for Android/iOS? In this case, maybe one can trust this project.

How Can I Trade With TradersHome?

The broker promises access to 500+ financial assets: forex, metals, indices, commodities, cryptocurrencies, and stocks. Additionally, they claim there are no requotes and no slippage, which is impossible in a real financial market, implying that TradersHome processes clients’ orders internally rather than routing them to a provider. To continue the investigation, it is necessary to examine the tariff plans.

All Info About Accounts

Before starting to trade, you need to choose one of the offered account types. They differ little from each other except for the huge minimum deposits:

• Student. The minimum deposit is $250. Standard access to terminals and lots from 0.01. No additional services are provided to holders of this account.
• Starter. Requires a minimum deposit of ten times larger – from $2,500. The only difference from “Student” is the availability of a swap-free option.
• Premium. From $10,000. Adding an account manager.
• Advanced. From $25,000. Traders have access to daily market analyses.
• Pro. From $50,000. Fixed spreads are available, implying they were previously floating. This is the only update.
• VIP. At least $100,000. The specifics of this account are a mystery, which can be explained by a manager.

The initial deposit requirements are impressive and even unreasonable, while the accounts differ very little from each other. Perhaps assistance from an account manager would be helpful, but you need to invest a minimum of $10,000 for that. The advantages of TradersHome are quite unclear.

Traders can increase their trading volumes with leverage up to 1:400. This is a huge leverage ratio, although not surprising for a broker like TradersHome. Additionally, commissions are stated as zero, but the spread size is not provided. Zero commission directly contradicts the company’s claims of using ECN/NDD technology. How does the intermediary earn if not through commissions? This suggests that there is no ECN/NDD, but rather a classic dealing desk (DD) business model.

Market Analysis and Education With Tradershome.com

The company could attract new clients through additional services beneficial to traders, but no. The project only provides an economic calendar, which every brokerage firm has, as well as an expiration calendar, useless for CFDs as it is used in futures trading, and it is non-functional since it still shows the year 2020, and an FAQ section. Training courses or fresh analytics? None of these are provided.

Deposit, Withdrawal, and Fees

At the very bottom of the website, logos of the payment methods supported by the platform are displayed. These include bank cards Visa/Mastercard and Bitcoin. There is no other information about how to transfer money in TradersHome. Although electronic payment systems are also popular among traders, and some experienced users still transfer funds through bank transfers. The transfer fees are zero. At least, the firm promises not to charge fees for deposits and withdrawals.

How Can I Contact It?

So, there are several ways to communicate with TradersHome managers. These are phone calls to the provided number, email, or social networks like Facebook, Instagram, and X (Twitter). However, there are certain issues. For example, the social networks have been inactive for a long time, with the last posts dated 2022, so it is unlikely you will get a response. This leaves a phone and two email addresses.

Checking the phone number yielded interesting results. It turns out that the same phone number is used by a broker with a very similar name – MediaHomeLife. The official website of mediahome.international is exactly the same as TradersHome. Apparently, they are twin brothers.

Is TradersHome Dangerous?

The broker has been suspicious from the beginning. The inability to register, inadequate conditions, blatant lies, a template website, and now it turns out that there are several such companies. In fact, we can already conclude fraud on the part of TradersHome, but let’s additionally check its operating time and licenses to be 100% sure.

How Long Does The Broker Work?

The founding date is kindly ignored on the website. Let’s refer to the Whois service, which will show the domain registration date. So, the domain was registered back in 2012, but it was updated to its current form only in 2019. Data from WebArchive showed this. Moreover, the site also had Bitcoin quotes, which at that time were valued at $9,000, not $56,000 as now. Therefore, the organization started operating around that period.

How Is TradersHome Regulated?

Despite 5 years of operation, the company does not have regulation. Why? Couldn’t they obtain the necessary permits to operate within that time? The firm lists the address of its legal entity in Saint Vincent and the Grenadines. However, TradersHome is not present there. Perhaps it was once in the registry, but it is not now, meaning it operates illegally.

Frequently Asked Questions (FAQ)

How to Trade With TradersHome?

To start trading here, you need to contact a manager, because registration is currently impossible due to an unknown error.

Is TradersHome Legit?

The broker does not have a license and is not registered in Saint Vincent and the Grenadines, although it claims otherwise. It is an indicator of illegal activity.

How Risky Is It?

Cooperation with such a broker as TradersHome is a very high risk. Not only do they offer a leverage of 1:400, but the firm also lacks oversight from a state regulator and cannot provide any guarantees of reliability.

Kevin Berry

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Expert Opinion

Did the scammers really think that their identical websites could not be easily found? Just enter the phone number, and another broker will appear. Yes, TradersHome started operating around 2018-2019, but it never gained the trust of clients, becoming known as an illegal and fraudulent brokerage intermediary. Why lie about being an ECN? Why not update the information on the website, since COVID-19 is already in the past? Do not risk trying to register an account on this pseudo-brokerage platform. There is a huge risk here because the dealing desk will take your money and not return anything.