Traderking.io Review – TraderKing is an Exposed Scam! FCA, CNMV, FI Warnings!

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Caution! TraderKing is an offshore company! Your funds may be at risk.

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TraderKing Key Features

🔴 TraderKing is an officially exposed scam. Avoid!

🔴 TraderKing has negative customers reviews. A red flag!

🔴 TraderKing is not transparent. A red flag!

🔴 TraderKing creates unrealistic expectations. A red flag!

TraderKing Products and Services

TraderKing is one of those fishy offshore brokers that want to you believe that they are good because they can offer you MetaTrader4. Yes, the latter is an award-winning platform, and it has been dominating the market for over a decade, but that doesn’t mean that any brokerage that can offer it is a decent company. What TraderKing says is that they provide it for clients with a wide range of desktop, web and mobile MetaTrader 4, offering the most favourable conditions for traders, both for beginners and for confident traders. TraderKing then carries on advertising MT4, saying it’s tested by millions of traders; allows you to use your favourite trading robots; has extensive customisation options with several applications that can improve its graphics, interface and functionality; and so on.

TraderKing then reassures that clients may use MT4 to trade Forex, Indices, and Commodities through CFDs compatible with all operating systems. Sounds promising, only if the brokerage weren’t a shady business creature coming from Saint Vincent and the Grenadines- the latter being an offshore jurisdiction regulating no Forex brokers. And with that being so, they can promise you everything and subsequently deliver nothing as there is no one to keep them under supervision.

As for the particular Forex service, TraderKing says to provide 1:500 leverage and ultra-tight spreads, but that’s not true. When we assessed the brokerage, there was fixed undisclosed leverage, and ultra-wide spreads actually traded only on a web-based platform called Status Trader. And after all the drama with the heavy MT4 advertisement, it turned out that Trader can’t even deliver it! What a scam!

But nevertheless, the particular offer made by Trader King is that clients can trade:

“Commodities – the name speaks for itself. Merchants working in the commodity markets enter into transactions for the sale of commodity contracts (futures, forwards, options). Their goal is to profit from the difference between the purchase price of the contract and its sale price.

Stock is the largest investment market in the world. In the stock markets, investors have the opportunity to absolutely transparently buy stocks of large and developing companies, bonds, as well as earn on changing the value of stock indices.

Currency markets (FOREX) is the most famous type of trading. The foreign exchange market is the exchange of currencies in the interbank market, and also includes the trading of foreign exchange contracts on global exchanges.”

The bottom line of the assessment of the services found many discrepancies and pure lies, which strongly suggests a scam! What’s more, TraderKing didn’t fail to promise guaranteed returns, ultra-high profitability and utmost security- what scams usually do! Avoid!

Scams involve investments with ultra-high ROIs, get-rich-quick schemes, or guaranteed profits. Always be wary of investment possibilities that offer a large return with little or no risk — if it seems too good to be true, it most likely is, so that’s potentially a scam. Also, note that during volatile times, any investment that regularly increases month after month—or that produces astonishingly stable returns independent of market conditions—should raise questions. Even low-risk investments are not entirely secure. Therefore, every time you see promises for risk-free guaranteed profits, you should remain sceptical because these people aim to create a false sense of security. Beware!

TraderKing Company and Regulation

TraderKing never mentioned anything about regulations, so it at least was not lying about it. It’s allegedly registered in St. Vincent and the Grenadines, meaning that it’s not regulated or in any way supervised. Fishy brokers enjoy this location as it gives them no restrictions while doing their business- they can lie, mislead, distort services, defraud people, and finally, they can disappear without a trace, getting away with it. Where there is no regulation involved, there is no one to be punished when things get ugly. Make sure to avoid any brokerage without a license that’s registered in fishy locations such as SVG, Dominica or the Marshall Islands- none of these jurisdictions controls Forex brokers.

But that’s not the worst, actually. The most important thing you should know about TraderKing is that it’s an exposed scam! It was blacklisted by three regulators- FCA, CNMV and the Estonian FI. The first warning was issued by the British FCA, and the regulator warned the public that TraderKing firm is not authorised by them and it’s targeting people in Britain. The authority then went on to warn people that:

“You will not have access to the Financial Ombudsman Service or be protected by the Financial Services Compensation Scheme (FSCS), so you are unlikely to get your money back if things go wrong.”

Avoid!

Almost all regulators frequently update their warning lists with shady business entities selling financial products and services without authorization. In other words, all these companies are breaching financial rules and regulations; therefore, they are unsafe and, most usually, scams. Needless to say, you should avoid any company with a warning on its name.

The US regulators are no exception. For example, SEC has its PAUSE list, including business entities falsely claiming to be registered, licensed, or located in the States. The PAUSE Program also lists impersonators, fictitious regulators, governmental agencies, or international organizations- scams, in other words. Additionally, CFTC maintains a RED list (Registration Deficient List) containing names of unauthorized foreign entities that appear to be acting in a way that requires registration with the CFTC. However, the RED list inclusion doesn’t necessarily mean that the particular entity has been caught in violation, but you’d better remain cautious.

The bottom line is that you should avoid any investment scheme with a warning on its name, and generally, any firm that’s not regulated but offers financial services.

TraderKing Address and Contacts

So, you can see that we provide a lot of contact information, but all of it comes from the warning issued by the British regulator FCA. Indeed, the only thing about TraderKing that you can find on its website is the address plus the support and compliance e-mails, with no phone numbers. So, TraderKing definitely proves again that it doesn’t fancy being found or approached- lack of transparency that always triggers a red flag!

For investments, transparency is essential since you should know who is managing your money and where it actually is. Legitimate businesses always operate in a transparent manner, and they are required by law to disclose their headquarter address, phone numbers, and all legal documents that detail the provisions of the service. And our experience tells that if you can’t reach these people over the phone number provided, can’t verify the locations, or can’t confirm in any other way that the investment provider is authorized to sell financial goods, then that’s most likely a fraud. So, regardless of the warning issued, we can guess there is something wrong with the investment scheme in question.

Is TraderKing Safe?

TraderKing is a scam! It’s a blacklisted broker by various European financial authorities. It’s a scam that’s going to rip you off once you deposit, and it’ll go as it follows:

They lure you to begin investing with them by promising big, making you open an account and ask you to deposit. Once you’ve done that, your deposit will be taken out of your country- to SVG, where it is literally impossible to track the money as the offshore companies in SVG are not allowed to grant access to their accounts. Your money disappeared, but that’s not the end of the story. You’ll be asked to deposit again and again till you eventually find out it’s a scam. And when that happens, you’ll be on the losing side with no chance to recover your money, as it’s impossible to be tracked down.

With or without warning, all offshore brokers are dangerous to trade with, so make sure to avoid entities registered in St. Vincent and the Grenadines, Dominica or the Marshall Islands, to name but a few jurisdictions. There are no regulations and no safety for your funds.

Scam Warning

For various reasons, dealing with unregulated investment platforms is always a terrible idea. Above all, the lack of regulation strongly signals that something fishy is going on there, as only licensed companies can provide investment services. As you might expect, scams can’t thrive in a robust regulatory environment, so consider twice before depositing with unlicensed investment providers.

A scam or a fraud is any crooked scheme devised to defraud you out of money or steal your personal information, and every scam setting is practically unregulated. Scammers work with hackers, too, and often buy bulky packages of information, including phone numbers, e-mails, social media profiles and other personal details of customers, which greatly facilitate scams. So, if someone contacts you out of a sudden, you’d better always consider the possibility that it could be a scam.

Scammers target many people and constantly evolve their approach making scams harder to recognise. In particular, the crypto scam is now booming for two particular reasons- lack of knowledge and popularity. There is a third one, too- scammers take advantage of the less regulated environment to lure people into crooked scam settings that have nothing to do with crypto at all. In any case, it’s getting harder to spot potential fraud, but warnings issued by regulators help to raise awareness, and you’d be much better off if you always research thoroughly before any investments have occurred. Markets are plagued by scammers, and it’s for real.