Brokerage platforms are made to be alluring with their conditions and allegedly impressive backgrounds. These are oftentimes fabricated, as our TradeAi Group review shows.
Namely, the TradeAi Group broker claims to be one of the leading global trading organizations, catering to the needs of both novices and professionals. However, no substantiated proof of such claims exists, and we fear there’s a lot more to what meets the eye.
| Regulated by: | Unregulated Broker |
| Is This Company Safe? | No, this platform presents no proof of being legit or trustworthy! |
| Known Websites: | tradeai-group.com |
| Have Warnings from: | N/A |
| Registered in: | Cyprus (alleged) |
| Operating since: | 2023 |
| Trading Platforms: | Web tarder |
| Maximum Leverage: | 1:500 |
| Minimum Deposit: | 5.000 EUR |
| Deposit Bonus: | Up to 100% |
| Trading Assets: | Crypto, Forex, Indices, Shares, Commodities |
| Free Demo Account: | No |
| How to Withdraw from This Company? | Contact our legal experts in order to start a fund recovery procedure. |
Real or Fake Association With the Cyprus Firm?
The website in question is quite shady and far from sufficiently transparent about their line of work, regulations and business conduct in general. Oneworld LTD is mentioned as the parent company. According to CySEC, this firm is regulated, not as an investment company, however, but as an ASP (administrative services provider).
That puts a lot of doubt on the legitimacy of this anonymous brokerage business. Moreover, we can confirm they’re not regulated by any prominent authority like FCA, BaFin, ASIC and CNMV, whose databases we’ve searched.
Compared to proven fraudsters like FXBravo, this online platform is no better. Segregation of funds, compensation plans and AML measures in combination with risk-reducing strategies are some of the hallmarks of a reliable brokerage. These swindlers have none of it to offer.
Fraudulent Scheme Uncovered
The website that hosts the fraudulent scheme, tradeai-group.com, was launched in July 2023. The primary targets are citizens of these nations:
- United Kingdom
- Ireland
- Belgium
- Netherlands
- Denmark
Majority of online frauds, including this one or MyProfitLive for instance, rely on the boiler room agents to get new victims to invest funds.
These persuasion experts rely on a pre-written script to entrap their marks and steal the money. Depending on the payment method, the money is more or less difficult to recover, but recovery is ultimately a task for a professional.
Fake Online Content
Looking at the TradeAi Group reviews out of context, you will see just how repetitive the majority of them are. If you pay a bit more attention, you will see that separate people have somehow managed to post identical texts on at least 4 separate platforms – TrustPilot, SiteJabber, Reviews.io and TrustedReviews!
This is not mere coincidence, but the work of the notorious review seller networks. These are paid individuals whose job is to post misleading content, and set the foundation for the work of scam agents.
Fees Make it Not Worth the Trouble
If you’re attracted by high leverage, you’re advised to pick a regulated broker that can offer you up to 1:500 ratio instead of this sham that uses his setting as a bait.
Additionally, other trading terms such as spreads and commissions are not revealed, only marked as “standard”, whatever that is supposed to mean.
However, fees are what you should be especially careful about. This fraudster is particularly ruthless and charges:
- 3.25% management fee per 6 months
- 3.50% quarterly trading commission per quartal
- 25% fee for early withdrawal
- 30% benchmark fee
Bonus With Hidden Clauses
Depending on which account type you decide to buy, you may become eligible for a bonus between 50% and 100%. However, this is not withdrawable unless you meet the impossible requirements. The minimum trading volume required, according to legal docs, is (bonus amount + Deposit) x25.
Is Any Feature Of Use?
Unfortunately, the answer to this question is not a positive one. From the rudimentary web app and shabby trading conditions to unrealistic promises of returns, everything here is simply too good to be true. That efficiently deems it untruthful and exaggerated.
All Too Familiar Web App
TradeAi Group Forex trading software is a plain and rigged web terminal that doesn’t quite instill trust. Considering how simplified it is, it is evident that it’s devoid of any advanced functionality and options for in-depth analysis.
Such platforms are known to be heavily manipulated by an abundance of false online financial services providers, so make sure you’re choosing a regulated firm to sign up with.
Products Provided
Creating a TradeAi Group login opens way to buying and selling the following asset groups:
- Crypto (Bitcoin, Dash, Dogecoin, Ethereum)
- Forex (EUR/USD, USD/JPY, EUR/CHF)
- Indices (SWI20, US30, US500, USTEC)
- Shares (HSBC, LLOYDS, PHIL-MOR)
- Commodities (Coffee, Cotton, Gold)
Costly Minimum Deposits
Looking into the TradeAi Group account types, you’ll see the usual tiered live trading accounts, all too common with financial swindlers. Those that invest more funds are promised benefits like guaranteed ROI from 9% to 15% monthly, for instance.
When compared to the $10 micro accounts popular with regulated firms, the prices are incredibly steep:
- Bronze – €5,000
- Silver – €25,000
- Gold – €100,000
- Platinum – €250,000
- VIP – €500,000
- Diamond – €1,000,000
Unfortunately, creating an account can’t be completed unless you’ve already been contacted by an agent beforehand.
Vague Withdrawal Policy
The company advertises various payment methods like bank cards and direct bank payments, but since we couldn’t access the dashboard we couldn’t verify any of this. The legal documents made available to the clients are purposely vague and full of weasel words, but still contain some clues about TradeAi Group withdrawal.
Bank wire withdrawal, for instance, has a minimum of $500 and a bank card withdrawal a $100 minimum. Now, notice how the deposits can only be done in EUR and withdrawals in USD? This is contrary to AML regulation, and is forbidden by international law.
24/7 Support is a Joke
Getting in touch with the customer service on this portal is incredibly complex. Although you will see advertisements about it being available around the clock, no one bothered to reply to our inquiry for hours. Allegedly available methods of communication are:
Need Help With Chargeback? Count On Us!
Forex markets are a dynamic ecosystem that can be both a gateway to financial success, but also a reason to permanently give up on trading. That’s why we always advise caution.
If you’ve already been sucked into a TradeAi Group scam investment trap, there’s still a way to get your deposit back. Contact our legal advisors and chargeback experts for detailed information.
FAQ Section
What is TradeAi Group?
The platform is a fraudulent attempt, designed to steal investors’ deposits and prevent them from withdrawing anything.
Is TradeAi Group Legit?
According to our investigation, the license is not real, and association with the said firm is fabricated, so the answer is no.
How to Withdraw Profits From My TradeAi Group Account?
You can attempt to submit your withdrawal request but the cons will come up with countless reasons to prevent it. Therefore, you should contact our legal crew for support.
Source:
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