TradeCare365 Review: Exposing TradeCare365’s False Claims and Fraudulent Practices

TradeCare365, an offshore scam, presents itself as a leading trading platform. Astonishingly, this deceitful operator boldly makes these claims despite lacking even a basic platform. Their intention is to deceive easy victims and ensnare them in a carefully crafted investment trap.

This scheme follows the same principle as PNL Advanced, another notorious fraud. If you are considering this broker as a trustworthy investment option, we are here to dispel the false claims they make. In this TradeCare365 review, we will present compelling evidence to support our claims.

TradeCare365’s Regulatory Compliance and Fund Security

When it comes to TradeCare365’s regulations, the situation is far from clear. As we initiated our investigation, we focused on the primary regulatory authority in Seychelles, the Financial Services Authority (FSA). Despite being an offshore regulator, the FSA maintains a comprehensive database of regulated securities dealers. Regrettably, both TradeCare365 and its affiliated company, Orionda Financials Ltd, are conspicuously absent from this list.

Even if TradeCare365 was regulated by the FSA, it would still lack the crucial Tier 1 license, which is vital for ensuring the highest level of safety for funds. Our meticulous search across strict and reputable regulatory bodies uncovered alarming warnings specifically directed at TradeCare365. These recently published warnings shed light on serious concerns surrounding the company. 

Before delving into the warnings themselves, it is paramount to underscore why a Tier 1 license is the only acceptable license. Regulated brokers offer a range of benefits. They are as follows: 

• Segregated bank accounts
• Restricted leverage (typically 1:30 or 1:50)
• Negative balance protection
• Compensation funds

While specific standards may vary among regulators, these conditions are considered standard requirements. Unfortunately, TradeCare365 does not provide any of these benefits. A comparison of their leverage ratio of 1:1000 to industry standards clearly reveals something amiss. Besides, the anonymity of the broker should raise significant concerns and discourage any engagement.

Warnings Against the Company

Numerous warnings have been issued against TradeCare365, prompting us to thoroughly examine various registers for a valid Tier 1 license. Sadly, all the information we uncovered about TradeCare365 was overwhelmingly negative. 

Warnings explicitly state that the company lacks the necessary authorization to offer trading services. Several regulators, including CNMV, CMVM, CONSOB, and FSC, have blacklisted this broker.

A Comprehensive Overview of the Trading Platform

In order to provide an honest and transparent review, it is crucial to uncover the truth behind TradeCare365’s tactics. Let us delve into how this platform deceives users by posing as a legit trading platform.

TradingView is a widely recognized social platform. It serves as a hub for traders to monitor market movements and connect with fellow investors. It offers customizable widgets for websites.

TradeCare365, cunningly, displays a few TradingView charts to create the impression that they have their own trading platform. Yet, when you click on these charts within the client panel, you are immediately redirected to the official TradingView website. This clear redirection indicates that TradeCare365 lacks its own authentic trading platform. This is most likely the case.

Furthermore, on its homepage, TradeCare365 promotes a web trader, a tool often exploited by scammers due to its vulnerability to manipulation. However, such a level of sophistication is not offered by this deceitful operator!

TradeCare365’s Account Types: Questioning Their Promised Value

During our assessment of TradeCare365’s account types, we had reservations regarding their ability to fulfill their promises. When comparing TradeCare365’s account packages to those offered by other reputable brokers, we discovered that the disparities were minimal. 

These esteemed brokers offer a variety of supplementary features. This is even with considerably lower investment requirements. It is vital to keep this in mind when considering the exorbitant charges associated with each of TradeCare365’s account types. The account types are as follows: 

• Standard account: $250
• Professional account: $10,000
• Business account: $30,000
• Business Plus account: $100,000

TradeCare365’s Withdrawal Practices: Deceptive and Unhelpful

In line with other deceitful brokers, TradeCare365 adheres to a familiar pattern when it comes to withdrawal information. Yes, they provide details about deposit methods and emphasize free investments on their website. Still, they conveniently neglect to mention the withdrawal process.

Remarkably brief and lacking practical guidance, TradeCare365’s Terms of Service lack clear instructions on payouts. The only way to obtain such information is by contacting their support team. Yet, there is no guarantee of receiving a responsive or helpful response when expressing your intention to withdraw.

TradeCare365 may impose requirements such as form submissions and personal document requests. Besides, they may demand exorbitant fees amounting to hundreds or even thousands of dollars. Scammers employ these tactics to hinder profit withdrawals.

Regretfully, recovering even a single cent is highly unlikely. The profits you believe you have amassed are merely illusions, as the trading environment provided by TradeCare365 is nothing more than a meticulously orchestrated charade.

TradeCare365’s Alluring Deposit Bonus: Apprehending the Risks

TradeCare365 captures prospective investors with an enticing substantial bonus, reaching up to 100%. However, it is crucial to exercise caution and fully comprehend the potential risks of such bonuses. Although they may initially appear enticing, bonuses frequently act as traps that ultimately lead to financial downfall.

Here are a few key factors to keep in mind:

• Stringent conditions: Bonuses often have stringent terms and conditions restricting trading activities. These conditions may include high trading volume requirements or limitations on withdrawing funds until certain criteria are met.
• Increased risks: To meet bonus requirements, traders might feel pressured to take on higher risks and engage in speculative strategies. This can potentially lead to significant losses.
• Limited flexibility: Bonuses may restrict your fund management flexibility. They can tie your capital to specific terms, limiting your ability to freely use and withdraw funds as desired.
• Complex withdrawal procedures: Withdrawing bonus funds can be a complex process, subject to various conditions. TradeCare365 may impose strict requirements, making it challenging to access bonus funds or withdraw them altogether.

It is crucial to approach deposit bonuses with a discerning eye. Always ensure that you thoroughly understand the bonus offer terms and conditions before making any decisions. 

How Fraud Has Been Perpetuated

In user testimonials, the relentless persistence of TradeCare365’s sales agents stands out as alarming. This is a clear red flag for potential fraud. These “boiler room” agents will call incessantly, even after multiple rejections of their offers. Their desire to sell their services knows no bounds. Like vultures, they will relentlessly pursue you, draining your funds until you succumb.

If you allow them to pitch their product, they will portray it as a divine gift. Their only mission is to convince you that you are fortunate to invest in their supposedly valuable platform.

However, TradeCare365’s true nature becomes apparent when you attempt a withdrawal. Your requests are rejected, and even retrieving your initial deposit becomes impossible. A web of lies unravels, leaving you trapped and unable to access your funds.

The Best Forex Brokers

Finding the right broker can be daunting. It is crucial to choose a broker that is trustworthy, reliable, and offers competitive pricing. One regulatory body that mostly stands out in the FX industry is the FCA. Brokers regulated by the FCA are known for their credibility. Check out our table of top-rated brokers for more information.

Read More About Us to Find the Best Broker

Finding the right broker takes time and research. Explore our company for valuable insights into our values, expertise, and services. We aim to provide you with the information and resources you need to make an informed decision. 

Whether you’re a novice or a proficient trader, learning more about us will help you find a broker that suits your goals. Take the next step towards a prosperous investment journey by exploring with us.

TradeCare365 Summary

This broker, TradeCare365, disguises itself as a reputable entity but is, in fact, an offshore scam. Despite its bold claims, it lacks a proper trading platform. By drawing parallels with other notorious scams like BizzTrade, we debunk TradeCare365’s false promises.

There is an apparent lack of regulation, withdrawal issues, and questionable account types. Don’t become a victim of this meticulously orchestrated fraud. Now you know the truth about TradeCare365.

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