Is TRADE.COM Legit or a Scam? A Detailed Review

TRADE.COM, a Mauritius-based forex broker, is gaining attention on broker review platforms, such as WikiFX, for more negative reasons than positive ones. The negative reports have emerged on account of the constant withdrawal denials and capital losses due to the alleged wrong trading guidance by the broker. There are positive reviews too, but most of them sound too generic. Exposure reports cover specific glitches traders have faced here. In this TRADE.COM review article, we have investigated multiple complaints against the forex broker. Read on!

TRADE.COM Overview: Company Profile, Trading Instruments & Account Types

TRADE.COM claims on its official website that one can leverage trading across 1,200+ instruments through its platform. The instruments include forex, shares, commodities, indices, crypto and ETFs.

As a trader, you can access MetaTrader 5 (MT5), WebTrader and TRADE App to trade across instruments. While these platforms offer immense expert-based trading insights, the lack of the most widely used MetaTrader 4 (MT4) can be seen as a miss.

The broker offers four types of trading accounts - Silver, Gold, Platinum and Exclusive. The details concerning these accounts have been shown in the table below.

While the minimum deposit required in the standard account is reasonable, the same in other accounts is too high. Exposing such a large capital base at a time when exposure reports of this broker is massive does not seem to be making sense. Even spreads are relatively priced higher.

Top Forex Trading Complaints Against TRADE.COM

A Fund Scam Allegation Involving USD 100,100

A trader from the United Arab Emirates reported having lost USD 100,100 after making a profit of $200,000 on the TRADE.COM login. The incident came to light as the trader requested a withdrawal on the platform. However, the user allegedly received a message stating the loss of his entire capital. The message further requested more deposits to make free margins and enjoy gains. Unimpressed by how things transpired, the user shared this negative TRADE.COM review. Have a look.

₹210,000 “Tax” Demand After ₹150,000 Deposit

A Taiwan-based user reported being lured via a dating app into trading cryptocurrency on a platform linked to TRADE.COM, initially earning small profits before being persuaded to deposit up to ₹150,000. The situation escalated when the platform demanded an additional ₹210,000 as “tax” before allowing withdrawals—raising strong suspicions of a scam, especially after verification confirmed that legitimate exchanges do not require upfront tax payments for withdrawals.

The screenshot below perfectly captures how a good trading experience allegedly turned into a nightmare for the trader.

Promises of Guaranteed Profits & Constant Support Fall Flat in Real-time

This complaint has come from a United Arab Emirates-based trader who was lured into TRADE.COM via guaranteed return promises and constant support by the broker‘s officials. To build trust among this user, these officials reportedly used CySEC regulation. However, according to the complaint, the trader was introduced to trading under a different offshore jurisdiction. Though it looked legitimate from the user report. The lack of knowledge on the art of traders is often leveraged by officials to cause losses to traders. The trader confessed to having been pressured to deposit more despite profits being blocked, with the officials allegedly turning aggressive and giving excuses for their actions. While the broker attempted to sign an agreement with the trader to release the latter’s funds, they are still trapped, according to this TRADE.COM review.

A Complaint Showing a Loss of $3,125 Due to Alleged Trading Misguidance

An Indian trader stated that while the broker sets the spreads, he was allegedly guided by the account manager to open high-lot trades during wide spread conditions. This caused him a loss of $3.125, according to the complaint. Demanding a full refund of the loss, the trader did not hesitate to make his complaint official. Take a look!

A Recount of the $3,700 Loss Due to Wrong Selection of Trading Instruments

This story had two parts. The first part, where an Italy-based trader showed immense due diligence by not falling into the deposit pressure, even if he was prompted to do so by taking a loan using his credit card. The second part was the successful attempt by the Introducing Broker (IB) to cause losses for the trader eventually.

At the beginning, the official realized that the trader was not going to fall into the alleged fund trap. Therefore, the IB moved away from the user. However, later, the official reportedly made the trader invest in risky and complex instruments, causing him a capital loss of $3,700. Check out this screenshot to know more about the allegation.

Investigating a Complaint Demonstrating a Loss of 10,000 EURO+

An Irish trader filed a complaint, claiming that everything was good until he was advised to use a trust wallet. Within a week of using it, the user allegedly lost over 10,000 Euros. Upon contacting the broker team, the trader was told to deposit further if he wanted to withdraw funds. Making everyone aware of the alleged scam was this TRADE.COM review we found while screening complaints against the broker.

Withdrawal Glitches & External Assistance for Fund Recovery

A user from the United Kingdom reported the struggles encountered while attempting to access funds. Despite profits for six months, the amount was reported to be less than the initial investment on the TRADE.COM login as the trader attempted withdrawing USD 371,830. Also, the trader claimed having been told to pay taxes for the withdrawal access. Finding the overall incident suspicious, the trader lodged a police complaint and took external assistance to successfully recover the funds. Here is the full story the trader shared online.

TRADE.COM Review by WikiFX: Is It Regulated?

Yes, TRADE.COM is regulated by two authorities - the Cyprus Securities and Exchange Commission (CySEC) in Cyprus and the Financial Sector Conduct Authority (FSCA) in South Africa. The first one is a Market Making license, which means that the broker is set to gain with clients losses and vice versa. That being said, the emergence of many complaints has caused some reputation damage for the brokerage firm. Due to this, the WikiFX team has reduced its score to 5.08 out of 10.

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