Reviews of TradersHome broker company that get a scam reputation

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When it comes to money, there is always the fear of deception, scam and theft. Beginner traders feel especially unprotected. When you work online and there are 100 Euro/dollars or more at stake, how do you know if you are dealing with an honest broker or a scammer?

By the example of broker TradersHome, which turned out to be a "wolf in sheep's clothing", or rather a company that deceives traders, in short, a scammer, we see once again that you should not be reckless in choosing a brokerage company for online trading. The analysis of the information on the company's official website and the reviews of the real brokers prove that this is another fraudster who is active in the online trading industry, the aim of which, as of the vast majority of brokers in the network - to steal the money of trusting users.

So, what kind of company is TradersHome - a reliable intermediary or an online financial scammer?

Types of trading accounts offered by TradersHome

Reviews of TradersHome broker company that get a scam reputation review

The official website of TradersHome has a separate section called "Compre Accounts". On this page you can find general information on the following directions:

  • trading conditions;
  • account types. 
Reviews of TradersHome broker company that get a scam reputation news

According to the broker's offers, the price of "entrance ticket" for transition to trading operations, i.e. the size of the trader's minimum starting capital is at least 250 USD.

As practice shows, such tariff indicates the cooperation of the broker with intermediaries, which specialize in processing non-trading transactions, i.e. depositing to the trader's account and withdrawal of funds. 

In practice this means that clients of such brokers will not be able to issue refunds in a compulsory order (according to the MPS guarantees.) To put it simply: the user will not be able to document the fact of his money transfer to the company.

In this case, the size of the maximum starting deposit broker-fraud offers from 100 000 USD.

Trading conditions

The broker presents itself as a full-fledged participant of online trading, as a leading intermediary organization in the stock market. This is evidenced by the basic information, which is presented in the section "About TradersHome" on the official site of the company.

Only after getting acquainted with this information, it is possible to declare that this broker is a fraud, and his advertising on the official site is a 100% fraud. Traders Home claims to be associated with stock market trading? That's a lie. The reasons for such a sweeping statement are easy to explain. As traders know, CFDs and Forex currency pairs are derivative financial instruments. Every trade on the stock market is done with securities (i.e., by the actual buy/sell method).

Now about the broker's income. The basis of the company's profits are commission fees. Traders Home declares that there are no commissions for trading transactions.

What does it mean? It suggests a clear conflict of interest. I.e., this fact simply screams about the absence of guarantees of traders' funds safety when working with Traders Home.

The fraud broker mentions the ECN model as one of the main methods of processing trade orders. What does this business model imply? It is a question of providing the clients with direct access to the interbank liquidity, the broker's participation is expected to be minimal. 

The fact is that there is no mentioning of the order processing technology in the user agreement. Also there is no data about the liquidity providers. All this is false information which a swindler knowingly provides on his official website counting on the fact that most brokers will not be interested in such details. It is not inconceivable that the transactions take place no further than the pseudo-broker's internal servers.

Also an important point that traders should definitely pay attention to: the site has information about the level of maximum allowable leverage, but there is no mention of the margin requirements and contract specifications. What does this mean? It gives an understanding of the company's orientation and purpose. Every experienced trader understands that with high margin requirements trading positions can be closed by force on a regular basis with the fixing of losses, and the broker Traders Home is primarily interested in cooperation with inexperienced, beginning traders, who are not yet aware of the importance of information on these positions. 

Also, the information and slogans, with which the main page is filled, makes you think about the reliability of working with Traders Home broker in general and the safety of its trading conditions in particular. Let's take it in order.

  1. The mentioning of trust and honesty is an abstract and unsubstantiated promise. Usually these characteristics are emphasized by dubious organizations.
  2. While claiming an efficient portfolio, Traders Home does not provide a single example on their website that confirms the guarantee of a well-balanced, diversified portfolio.
  3. The scammer's information about the high level of liquidity is also worth the traders' attention. The broker offers his clients to trade on the platform MetaTrader 5 (TradersHome has nothing to do with the development of the platform). The real developer of this terminal, of course, has provided the stock market (package of prices). But the data displayed in it are directly dependent on the liquidity providers. The Traders Home has not mentioned them at all.

Licenses

The scammer of Traders Home states the enormity of the company, saying that it has offices all over the world. In fact, this is a lie. There are no offices in any country.

In the "Contact Us" section of its official website, the broker indicates the main office on the territory of St. Vincent and the Grenadines. It is not a fact that in reality the (incomplete) address listed is aware of such a company.

Nevertheless, the company provides services to traders without an FSA SVG license. And this is a direct contradiction to the local legislation.

Moreover, there is no documentary evidence of the actual existence of Traders Home as a legal entity at all.

According to the independent service Whois, which allows you to check the registration data of domain names owners, IP addresses and offline systems, Traders Home services are only for users from Ukraine.

And this is a confirmation of the doubtfulness of the broker's honest intentions: fraudsters in the financial markets are distinguished by cooperation only with traders from the CIS countries.

With the dates of domain registration is also not all unambiguous.

WEB-archive statistics records that in spring 2018 the domain tradershome.com was not used. What does this mean? The creation of the broker's official website dates back to June 2019. This fact is a clear proof that TradersHome is a scammer who cheats gullible users and novice traders.

Reviews online

At first glance, the Internet is literally filled with exclusively positive reviews of traders about the trading intermediary TradersHome. 

Almost every user praises the broker and recommends working only with it. Some of them, of course, note some minor problems when working with the broker, but emphasize the fact that the support service of the company reacts instantly and helps to eliminate disputable moments. 

In fact, exclusively positive reviews about the scammer tradershome.com are posted on the sites, the administration of which does not provide for the verification of comments for authenticity. 

However, if you dig around on the Internet, there are not only sites and forums with the same praise written to order. 

Traders write in detail about their disappointment, financial losses and deception when working with the TradersHome broker. You can read the real stories through honest, not promotional reviews:

It is important to understand that when choosing a broker for long-term cooperation, it is absolutely impossible to be guided by traders' reviews! For an inexperienced user it's almost impossible to distinguish real comments from the well-thought-out advertising of dubious services of scammers. 

To assess the reliability of the company only the facts are important!

Safety and security of funds with TradersHome

The broker's website promises traders safe trading, reliable partnership and guarantees the safety of the capital. 

In reality the scheme of the swindler is typical for 90% of similar swindlers in the field of trading.

That is, the broker sets the risk levels on his platform and indicates the percentage of successful trades. In fact, the company makes a profit, not allowing traders to earn more than the minimum, which is essentially a "bait, rod". Feedback from real clients confirm that everything goes great at first, but as soon as TradersHome fixes that the client has started to increase the amount of profit, the "chipper" system is activated, and the trader's account is drained to 0. The most positives in this case - the trader begins to incur losses. Most often his account is blocked.

As a result, the trader is left without the earned money and does not return even the initial capital. As for the broker - he is always a winner. 

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Summary 

The broker TradersHome is not an exception. It is a fraudulent company in the sphere of online trading. This is confirmed by the facts found in the process of researching the reviews and analyzing the broker's activity. Informative at first glance, the website, in fact, does not contain significant data - about the documents, detailed trading conditions, etc. Most of the "sweet" reviews on the Internet are made to order. To summarize, it can be clearly stated that TradersHome is a swindler who deceives users and takes their money. Be vigilant! And don't voluntarily give your money to swindlers!

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