The Forex market attracts wide opportunities not only to potential investors who want to earn on trades, but also online scammers, who want to earn as much as possible on traders themselves by cheating them. Over the past few years, a lot of options for defrauding trusting investors have appeared on the web, some methods of deception are particularly liked by swindlers for the fact that participants of exchange trading platforms "bite" into them, so they often use them in their practice.
Usually, swindlers use the method of telephone marketing, including sending SMS-messages, including the most popular messengers, mainly Whatsapp, as well as emails or advertising on their and third-party sites.
One such dubious brokerage company is the Trade-Rich project. On the pages of its official website, the company actively advertises, praises and convinces its visitors that they can definitely be trusted with their capitals.
The scammer is persistently promoting the most attractive investment proposals and promises a high income practically immediately with minimal effort on the part of the investor.
Scammers deftly maneuver on the edge of flattery, persistence and aggressive advertising. Therefore we hasten to share the information that we managed to "dig up" about the so-called Trade-Rich broker and explain that we would not recommend working with such a company.
The answers and the results of the detailed analysis you'll find in our review.
Types of trading accounts offered by Trade-Rich
Based on the information on the company's website, the broker Trade-Rich offers its clients to consider several types of so-called investment plans.
Investment plans include the following offers:
- “Standard” investment package with a promise of 0.6% (from $1,000 - $2,999)
- “Premium” package, with 1.2% (from $3,000 - $9,999)
- “PRO” package from 1, 8%. (from $10,000)
Outwardly, it seems that the client simply chooses the best investment plan for himself, registers, deposits money and goes ahead.
The website even offers online help from the consultants, in particular analytics for those traders who doubt their actions when filling out forms and preparing for trading.
In fact, all this is done not because the broker cares about comfort and safety of their clients' funds, but only in order to lull the vigilance of inexperienced traders who will not go into details due to their lack of knowledge and experience.
The Trade-Rich project is a typical cheat, which deceives its victims in order to steal from them.
The best solution is to refuse any contact with such a scammer and leave him before it is too late and you, as an investor, have not yet "shared" your savings with him.
Otherwise, by continuing the "game" by his rules, the trader has all chances to complete his trading operations at the very start, losing his deposit completely without the possibility of getting anything back.
Scammers willingly help 100%. For the rest, i.e. a trader has to deal with his problems and questions himself.
Trade-Rich Trading conditions
The site seems to be of poor quality. Everything is defective: starting from insufficient information to the presence of errors.
For example, the site is offered in several languages. For the audience who understand English, German and Spanish. On its official website, the broker informs in a rather strange way, as seen in the screenshot:
There is also information that this supposedly trading platform, which Trade-Rich advertises, provides innovative tokens with a suitable option for listing, promising that due to this, transactions will supposedly be winnable for clients.
However, it's not all that simple. Potential traders who decide to tie the fate of their capitals to Trade-Rich need to know something else. After all, this information, which can be read only between the lines, continues to surprise us. Or rather, we are surprised at the impudence of swindlers, who hide behind the name of this brokerage company.
Let's try to find out what the aims of these online scammers are.
It looks like they are doing everything possible to popularize cryptocurrency, so that trading in digital currencies becomes less risky. Moreover, they insist that trading cryptocurrency on their platform is absolutely safe.
In fact, any kind of investing comes with risks of financial loss. Especially when it comes to trading an unregulated asset such as cryptocurrency: the probability of losing a deposit is not insignificant.
Many factors influence the possibility of minimizing the risks, including the choice of the site, the degree of reliability of the broker, the size of the deposit, the participation of the investor himself, etc.
As for the broker Trade-Rich, it takes its time to explain everything to the novice investor, to provide more information on the website. Its promises of help boil down to speeding up the transition of new clients from the traditional option of managing this area of trading to investing in the digital mode of business management.
In other words, the broker offers to transfer the management of a deposit account to him in order to gain full control over the client's finances. Fraudsters are counting on newcomers, who in most cases happily agree to such an offer, because the chance to make money with minimal effort still beckons and seems quite realistic.
One should not be in a hurry to believe that such help is real.
The broker, on the other hand, "sinks" the deposit at an accelerated pace, ignores the trader's appeals and continues to "process" new clients. As a result, a long line of trusting but deceived former investors has formed behind the Trade-Rich broker.
If you look carefully and without haste at the broker's offers on the website, it is clear that he does not tell about all his offers, as such, that give a 100% guaranteed return on investment.
However, it is already a lie if only for the fact that he promises minimal risks, which can be practically reduced to zero if you turn to the help of experienced support consultants.
Apart from advertising slogans there is nothing in such information, unfortunately. Crooks lie a lot and beautifully, they say what an inexperienced investor wants to hear.
As a result, as soon as fraudsters control finances, they often blame traders for failures, blame program failures or invent similar reasons, which have nothing to do with reality.
In fact, the only real thing is only a big deception of a talent-planned scam and an empty purse of a deceived trader.
The company calls itself a team of professionals. Even presents supposedly a team of its employees.
All looks colorful, but unprofessional. You get the impression that the photos were inserted into the site in a hurry - they are all in different formats. It is possible that the names submitted, as well as photos - are fictitious.
Checking the domain of trade-rich.com confirms that the company is only a few months old, the site was registered on December 31, 2020.
According to the available data, the project started working on January 16, 2021, but it is already claiming almost world leadership. It is all designed for beginners, because an experienced trader is sure not to believe in such nonsense.
As for licenses, everything is typical for online trading scams.
The website doesn't mention any documents or licenses.
All they mention is the address and a feedback form.
In theory, if the company operates in the U.S., its work should be controlled by one of the American regulators, usually FINRA.
As we can see, the regulator does not know about such brokers as Trade-Rich. This means that the company has no license and works illegally.
Trade-Rich Reviews online
In general, there are almost no mentions of projects like Trade-Rich on the net. The project is more like an invisible person in the network who exists only on its website and in social network accounts, which he himself created.
But I have found some negative feedback. People complain about the platform's refusal to withdraw money, poor customer service, etc.
If you summarize the reviews, we can say that the company is not recommended and in general they call not to contact these scammers.
Safety and security of funds with Trade-Rich
What kind of safety of funds is there when you are dealing with fraudsters? The site doesn't even talk about it. Information, as it may seem at first, is given a lot, but there is no specifics, as well as the package of legal documents along with the license.
All attempts to establish trade do not bring results.
The absence of official registration, intelligible and clear information about what investors should do and what kind of profit they can get, what trading conditions to count on, etc. nullifies all hopes for the real trading.
What's more, the contact information of these scammers is also made up. This shows that they are obviously not tuned for a dialogue. Exclusively the communication works so far, the investor is ready to deposit money.
Trade-Rich is the antihero of our review, a typical scam which exists on the online financial market just for its own profit. There is no talk about safe and profitable trading for investors. By offering a high income, scammers promise no risk. This is the real deception, which can cost an investor several thousand dollars.
The company Trade-Rich does not withdraw money, provides false information and in general looks like a one-day project which was created with one goal - to defraud as many traders as possible.