Looking for professional trading experience? Don’t fall for the false promises of TradeVtech. This broker claims to offer top-of-the-line trading services, but the reality is far from it. In fact, our research shows that it is nothing but a scam. Numerous reviews confirm that the company engages in shady practices.
Table of Contents
Highlights
| 🏛️ Country | Saint Vincent and the Grenadines |
| ⚠️ Regulation | — |
| 🖥️ Website | https://tradevtech.io/, https://www.tradevtech.online/ |
| 🎲 Demo Account | No |
| ⏳ Start Time | 2021 |
| 💲 Minimum Deposit | $250 |
| ⚖️ Minimum and Maximum Leverage | 1:25 – 1:100 |
| ⚙️ Trading Platform | WebTrader |
| cs@tradevtech.email | |
| 📞 Phone | +41225013066 |
First Impression of Tradevtech.online
The official website of TradeVtech is a rather low-quality resource. There is nothing remarkable except for strange photos of smiling men who are presumably successful traders. In other aspects, it’s even more dubious. The platform only provides translation into English and Arabic. There is hardly any information about the company itself. And the content mostly focuses on self-promotion without providing any valuable insights.
Partnership and Bonuses
TradeVtech provides not-so-detailed descriptions of its additional services. However, it is evident that the broker has a partnership program. If you have one, you can enter a promo code during registration. It is worth noting that this is not mandatory, and you can open an account without it. Unfortunately, the details of the referral program are also not described.
Account Opening on Tradevtech.online
The registration process with this broker is unremarkable. You will need to fill out several forms with your contact and personal information. Next, you will be taken to the Client Portal. Yes, you read that right. TradeVtech does not verify your email or phone number, so you can enter completely fake information if you wish.
In the Client Portal, you will find all the familiar functions. Here, you can withdraw or deposit funds, update your personal information, view your trading history, or go straight to trading.
Verification
The verification procedure at TradeVtech is quite simple. You should upload in your Client Area a copy of the government-issued ID, utility bill for proof of address, and proof of payment. Upon receiving the documents, the broker will conduct a review to confirm your identity. It’s worth noting that TradeVtech may ask you for additional documents.
- Easy to upload documents.
- The broker may require additional documents at its discretion.
Trading Software
TradeVtech offers both a web-based and downloadable desktop platform for trading. However, we wouldn’t say it’s anything to write home about in terms of being high-tech. It’s a standard platform, not the most popular in the industry. Its trading functionality is not particularly impressive. It’s definitely not suitable for professional traders, and the interface is quite basic. Overall, we’re not quite sure what exactly the broker is proud to boast about regarding their trading platform.
| Features | TradeVtech | Legends Financial Company | All Capital Trade |
|---|---|---|---|
| Demo Account | ❌ | ❌ | ❌ |
| Mobile App | ❌ | ❌ | ❌ |
| Own Development | ❌ | ❌ | ❌ |
How Can I Trade With TradeVtech?
TradeVtech prides itself on its trading conditions. However, it’s unclear if there’s anything exceptional here.
All Info About Accounts
The broker offers four different types of accounts. The minimum deposit for each account type is not specified, but only the Basic account allows trading with a minimum lot size of 0.01. The minimum lot size increases in higher tier accounts, such as Diamond, where it’s already 0.5. By the way, it is equivalent to $50,000. So, higher-tier accounts will require a significant deposit. The broker’s margin calculator can help determine the exact leverage amount, as it’s not explicitly stated. The commissions, on the other hand, are specified and are generally quite high, up to $15 per lot. Additionally, there are extra services available, some of which are only included in premium accounts, while others are accessible to newcomers. However, besides commissions, TradeVtech also sets relatively high spreads. In summary, these trading conditions are so far from ideal.
- None.
- High commissions, spreads, and leverage.
Market Analysis and Education With Tradevtech.online
TradeVtech offers both education and analyst management services. However, access to electronic books is only available if you have opened at least a Gold account. Moreover, webinars and analytics will be available from the Platinum level. Of course, this means that you need to deposit more money into your account. Keep in mind that it is entirely unclear who works at the broker’s firm and what level of analysis and education these anonymous individuals provide.
Deposit, Withdrawal, and Fees
In the deposit section, we finally found out what the broker’s minimum deposit is. So, you can fund your account with $250. You can use a credit card or the Paytiko system for this. For withdrawals, you can use a bank transfer, credit card, or debit card.
| Features | TradeVtech | Virgobanc | Sollari |
|---|---|---|---|
| Debit/Credit Cards | ✔️ | ✔️ | ✔️ |
| Electronic Payments | ✔️ | ❌ | ❌ |
| Crypto Transfers | ❌ | ✔️ | ✔️ |
| Deposit Fee | ❌ | ❌ | ❌ |
| Withdrawal Fee | ✔️ | ✔️ | ❌ |
How Can I Contact It?
TradeVtech provides a phone number, email, and address. However, there are some peculiarities. The phone number is for some reason Swiss, although the company is supposedly based in Saint Vincent and the Grenadines. And of course, the office address is nominal. In fact, there is no real broker office in this building. All of them are registered remotely.
- Complete contact information.
- Strange phone number
- No physical office.
Is TradeVtech Dangerous?
Trading conditions are not a convincing reason to open an account here. Meanwhile, we have a couple more reasons against considering cooperation with TradeVtech.
How Long Does The Broker Work?
The company has only been operating for a couple of years. Its official website appeared in 2021, as confirmed by a domain check. However, in just a couple of years, they have managed to gather so many negative reviews that we are surprised they are still in business.
Please note that https://www.tradevtech.online/ is now active. Apparently, it serves only for contacting support.
How Is TradeVtech Regulated?
The broker claims to be operated by UMedia LLC registered in St. Vincent and the Grenadines. However, offshore can make it harder to hold a company accountable in the case of fraudulent activities. Moreover, we couldn’t find UMedia LLC in the registry of companies in this offshore jurisdiction. On the other hand, we came across numerous warnings from different regulators stating that TradeVtech is a scam and people should stay away from it.
| Features | TradeVtech | Clark Financial | Fusion Markets |
|---|---|---|---|
| European Zone | ❌ | ❌ | ✔️ |
| Asian Zone | ❌ | ❌ | ❌ |
| American Zone | ❌ | ❌ | ❌ |
| African Zone | ❌ | ❌ | ❌ |
| Offshore | ❌ | ❌ | ✔️ |
Frequently Asked Questions (FAQ)
How to Trade With TradeVtech?
Is TradeVTech Legit?
How Risky Is It?
Kevin Berry Okay, I repeat it again. Offshore brokers are like a dumpster fire on a hot summer day. They stink, they’re a hazard to your financial health, and they’re best avoided like a Tinder date with a profile pic of a tiger. If you want to keep your money safe, stick with licensed brokers and stay away from shady operations like TradeVtech. That’s the tea.
TradeVTech rating
2 reviews about TradeVTech
The business model of scammers is not disclosed. But there’s no need to guess. It’s obviously a B-Book, with all the resulting consequences of conflicts of interest: trading against clients, intentional losses, chart manipulation, and so on.
It just so happened that I traded on the platform of this scam broker. I won’t go into details about how it happened. I don’t really want to talk about it. In short, if you suddenly want to trade here, which I strongly do not recommend, you will be in for a real trading hell. There are huge spreads, not even close to 2.6 points, constantly above 3-4 points. And that’s just for majors, while spreads for other assets like crypto sometimes reach three-digit numbers. Commissions for everything are really high; for experts, for deposits/withdrawals, mostly for withdrawals, starting from 25% of the profit. But as for the withdrawal, I never got it. There is a terribly working terminal that often just hung up and could only be restarted. As you can understand, all of this was nothing compared to the “final boss”. – the inability to withdraw money from here. Yes, TradeVtech never withdrew the remainder of my deposit. They didn’t explain the reason and stopped communicating. I lost a small amount, but the fact remains – this broker created conditions for impossible earnings and refused to withdraw money.