There are numerous challenges that you have to overcome in order to achieve success in your online trading journey. Whether you are able to accomplish this or not will depend on the decisions you make, the first of which is the online broker you choose. If you do not start right, you are not going to achieve the results you are after. Not every brokerage is the right choice for you, especially when you consider that there are scammers portraying themselves as legitimate companies as well. This is where the risk increases because the wrong decision could lead to massive losses you want to avoid. How to make the right decision? This TRADE4WINNER review can help you out.
The reason many people are unable to choose right is because they do not know what to look for. They know that companies can be fraudulent, but how can you identify them? This is something most people find challenging because the scams have gotten quite good at hiding who they really are. If you check out a scam brokerage and compare it with a legitimate one, you will find that they appear to be quite similar on the surface.
This is precisely why these fraudsters have been able to enjoy such a great deal of success because they are able to hide their reality and people end up getting trapped. Thus, your focus should be to look beneath the surface to see if there are any signs of a scam. If the platform is a fraud, it will have all the hallmarks that tell you so; you just need to make some effort to find them. This is what you should do with TRADE4WINNER when you come across the brokerage and are tempted to open an account with it. You will find that it has all the hallmarks of a scam.
What are they? You can take a look below:
Lack of Regulation
If there is one quality that can help you distinguish legitimate and scam brokerages, it is their licensing status. Any company worth its salt will always be regulated by the financial authority of the jurisdiction it is in. This is a reassurance to its clients that it complies with the laws and regulations of the country, maintains a set standard of service and is fair and transparent. In addition, it will also provide you security and in case of a dispute, they can also be held accountable.
Therefore, the safest route to avoid scams is to choose a regulated brokerage. Where does TRADE4WINNER come in? You can check out its website and nowhere has it mentioned anything about a license and regulation. It has not bothered to talk about it at all, which is a concern because genuine companies will be forthcoming about their regulation and will share licensing details so you can verify them. Not only has TRADE4WINNER not done so, it has also skimped out on other important details as well.
There is absolutely no mention of where it is based; you will not find a corporate address, or any corporate background associated with TRADE4WINNER for that matter. In fact, it has not even bothered to provide you with a phone number for reaching out. The only thing that does exist is an obscure email address that does not give you any hint of what company you are dealing with. Essentially, the brokerage is completely anonymous, which does not help because you need to be able to trust it and this is not possible when it lacks credibility.
A Regulatory Warning
The lack of licensing is already a big problem where TRADE4WINNER is concerned, but this is just the first hallmark of a scam you will find. There are plenty more that show why the brokerage is trying to exploit you. The next one is the regulatory warning that has been issued about the brokerage by a European regulator. The Spanish regulatory body known as the National Securities Market Commission (CNMV) has issued a warning about TRADE4WINNER.
It has clearly stated that TRADE4WINNER is not licensed by the regulator and yet it is offering its services to the citizens of Spain. Obviously, a legitimate company would never operate illegally, which goes to show that TRADE4WINNER is not one.
No Functional Trading Platform
The hallmarks of a scam become more and more prominent as you continue looking at TRADE4WINNER, with the next one being the absence of a functional trading platform. In order to trade in the financial markets, you require a trading platform, which is the software designed to help you connect to the market, execute your trades and provides you with the tools needed for making decisions. The platform you will be offered depends on the brokerage you choose and TRADE4WINNER claims to offer you a state-of-the-art software.
It comes as a shock when you try to access this trading platform that TRADE4WINNER has promised, only to find that it is not functional. It appears to have a bunch of charts on its website that are meant to create the illusion of a trading platform because they do not really let you do any trading. You are only allowed to make a deposit, which is exactly what scammers want. They are just after your money and nothing more, due to which there is no functional trading platform given.
Another clear hallmark of a scam that you will find at TRADE4WINNER is the fact that it does not offer you any payment methods that support the option of a chargeback. You will only be able to make deposits via bank wire transfers and cryptocurrencies, both of which are final and payments made through them cannot be reversed. Chargebacks are only possible with methods like credit cards, including VISA and MasterCard, but those are not supported by TRADE4WINNER.
The fact that you are dealing with an unregulated brokerage that has been blacklisted by a regulatory authority and has no functional trading platform are all hallmarks of a scam. They indicate that TRADE4WINNER is a scam broker and is only trying to con you, which makes it vital for you to avoid it altogether.