Has anyone heard of these Russian brokers? Trade-X – Best Trader looks like scammers.
https://trade-x.us/en/main
Hey there,
Thanks for your message. I’ve looked into Trade-X and you’re right, it appears to be a scam. Here are the main reasons why:
- No regulatory information can be found for the company. So it seems like Trade-X is not regulated at all. Legitimate brokers usually display their regulator’s name and their regulation number, typically in their website’s footer.
- Trade-X uses a fake license number, which actually belongs to another company called Tradex Ltd, incorporated in the UK with different operations.
- Additionally, their policies, such as the Terms and Conditions and Refund and Return Policy, heavily favor the company and include several elements that are concerning for clients. The policies also have vague language and an awkward structure, suggesting they might not be professionally written.
- The minimum deposit for different account types is excessively high, which should be a warning sign, especially for a broker who doesn’t have a good reputation.
I hope this helps. If you’re looking for reliable and regulated brokers, you can find them here: https://brokerchooser.com/broker-reviews.
Please let me know if you have any further questions.
Best wishes,
Andris