Tradecenter.fm Review Is Trade Center A Legit Or Scam Broker

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TradeCenter FM review – Is tradecenter.fm scam or good forex broker?

Trade Center is a forex and CFD broker offering over 150 trading instruments, including currency pairs, indices, stocks, commodities and crypto coins like Bitcoin, Ethereum, Bitcoin Cash and Ripple, with leverage as high as 1:500 and the MetaTrader4 platform.

Account type Min. deposit Max. leverage Spread s
Classic Account $250 1:500 0,1 pips + $30/lot
Bronze Account $5000 1:500 0,1 pips + $24/lot
Silver Account $25 000 1:500 0,1 pips + $18/lot
Gold Account $50 000 1:500 0,1 pips + $12/lot
Platinum Account $100 000 1:500 0,1 pips + $6/lot

Unfortunately the broker is not licensed as it should be if they want to target customers on regulated markets like the European Union, Australia, Canada or USA, so before depositing any funds with them better read this review first.

TradeCenter FM Advantages:

Leverage as high as 1:500

We rarely see leverage as high as this, especially since the regulators throughout Europe the U.S., Canada and Japan cut the maximum leverage allowed on the retail market well under 1:100. Currently a similar move is being considered by the Australian authorities as well, because of the record loses suffered by retail traders.

So although we see the option to trade with higher leverage as an advantage, we do recommend to use leverage with extra caution as it greatly increases the risk of loosing your funds with the slightest fluctuation of the market.

MetaTrader4 remains the most widely used trading platform on the market. It is functional, reliable and fast, and features over 50 integrated market indicators, as well as trading robots, with which you may easily run automated trading sessions. And the platform is also equipped with an excellent set of advanced charting tools, so here you may check our list of brokers offering MT4 as well:

Trade Center is owned and operated by Promfix OU, a company registered in Estonia. Unfortunately they are not regulated neither by the local financial authorities, nor by another official EU regulator such as the Financial Conduct Authority in the UK or the Cyprus Securities and Exchange Commission (CySEC).

This is unfortunate as too often unregulated brokers are simply involved in scam.

Besides, if you chose to trade with a properly regulated EU broker your funds will even be covered by an insurance policy, which in the case of an FCA broker is in the amount of 85 000 GBP. Here you may check our list of brokers, regulated in the UK:

Although Trade Center might lure you with high leverage and a user friendly trading platform, better find a regulated broker licensed and authorized by the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investment Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC) – those are the three most popular regulatory hubs on he market and all brokers licensed there will surely guarantee the safety of your funds.

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Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

Trading212 is a European broker with an excellent proprietary trading platform, which is now available as an iPhone app as well (we tried it out and we loved it). Trading 212’s customers enjoy fast execution a vast selection of trading instruments.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

Tradecenter.fm Review: Is Trade Center A Legit Or Scam Broker?

TradeCenter Review: this is the name of a Forex broker that seems to be based in Estonia. Is tradecenter.fm a scam forex broker or a legit one?

It claims to be a “secured broker” that provides online trading for clients on “currency pairs, indices, stocks, commodities, and cryptocurrencies”. The broker says it puts the interest of clients first and that is a licensed financial service provider.

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TradeCenter mentions that all personal information is encrypted as well as their transactions. Trading platforms are said to be “cutting edge” and market reviews, analysis and insights are provided. Education and customer support are also catered for with the broker.

The address we found for the broker is at:

Harju maakond, Tallinn, Kesklinna linnaosa, Roosikransti tn 2-039K, 10119.

Trading Platform of TradeCenter

It is mentioned that TradeCenter trading software is operated on a MetaTrader platform available to all their clients.

Legit brokers are known to offer at least the popular MetaTrader 4 trading platform.

This platform is a very good sign along with MT5, as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.

Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.

Trading instruments offered to traders includes: currency pairs, CFDs on commodities, and more.

The maximum leverage offered by the broker is 1:500, this is very high and may be both an advantage and a disadvantage. Spreads differ from account to account but the best it offers is 0.1 pips + $6/lot.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on TradeCenter

There is no mention of the methods via which clients are to fund their accounts with this company except by Bank Wire. We find that it is a dent on their image again.

This is because standard and legit companies make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on.

A minimum deposit of $250 is required to start trading with this broker and this is affordable. There will likely be rules applied on withdrawal of accounts with bonuses. It is said that a welcome bonus is given to clients.

We were able to conclude that since all deposits come with bonuses, every client that starts a trade with this broker is automatically tied to the rules we hinted at in the paragraph above. A 90 days’ inactivity fee of 10% will be charged from clients’ accounts.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Is TradeCenter Licensed?

No! TradeCenter is not a licensed broker. It holds no license that traders can trust. Traders have become highly skeptical of these kind of brokers. This is because the jurisdiction or Commissions do not cover them and brokers there may get away with mishandling clients funds.

Support

To contact the customer care agent of this broker, clients are to call: +61291583298 or email: [email protected] or engage in a live chat using the link on the “contact us” page.

Conclusion

TradeCenter is not a licensed broker and we do not encourage trades with their kind. It has good trading conditions and the platform is popular. It is wise however to view the brokers recommended below.

COMPARE WITH A TRUSTED BROKER

Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

Tradecenter.fm Review: Is Trade Center A Legit Or Scam Broker?

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