Trade Alliance Review – Don’t Fall for their Tricks

Trade Alliance Review

Opening an account with an online broker is the first step you take if you want to trade in the financial markets. When you begin your hunt for an appropriate brokerage, you have to remember that the space is fraught with scammers that are out to con you.

Hence, you have to be immensely careful when you are contemplating your options because any of them could be a fraudulent scheme, intended to steal your money. No, you cannot immediately tell the scams apart from the legitimate platforms because some are extremely well-designed, as this Trade Alliance review shows.

It is true that when trading scams were still new, scammers made mistakes that sometimes gave them away, so many people learnt to steer clear of them. But, with time, these cybercriminals have improved their tactics significantly and they are able to create websites that seem to be truly professional.

You will not be able to find any problems in their appearance and the story also sounds quite right because of which people fall for their tricks.

But, this is where you have to be careful because it is what these fraudsters are counting on. Technology has made it very easy for them to create sophisticated and authentic websites and fabricate a story that people want to hear.

You need to be prepared for this and take nothing for granted when it comes to a brokerage. Doing your own research is a must, which involves verifying the information that a broker is providing. This can help you ascertain if they are really telling you the truth, or just leading you on.

It certainly works in the case of Trade Alliance that has done an outstanding job at portraying the right appearance. The website is quite well-designed and they have extensive legal documentation as well.

Plus, it also appears that Trade Alliance has a license, but when you start verifying what they are claiming, then you will come across the problems. What are they? You can find some of them right here;

The licensing claim

As mentioned above, the fact that Trade Alliance claims to be licensed is one aspect that will draw the attention of a lot of potential traders. Why?

This is because it is recommended that you opt for a licensed and regulated company because they can offer you safety of funds and are compliant with laws and policies that can ensure transparent and professional services. Moreover, the chances of getting scam are also reduced because licensed companies can be held accountable for their actions.

According to Trade Alliance, it is registered in the United Kingdom and the company name is Quadrangle Nominees Limited. As you should not take anything for granted, it makes sense that you would check the online register of the Financial Conduct Authority (FCA).

This is the regulatory body of the UK and one of the most reputable financial authorities in the world. When you do a search, you will definitely find a company by this name.

This is where Trade Alliance has proven to be quite impressive because most scams are not able to achieve this feat. But, if you check the company in detail, you will discover that it does not have a website and it is not a forex brokerage.

Therefore, impersonating it is quite easy and this is what Trade Alliance is actually doing. It is not licensed itself because it goes against the UK’s regulatory framework in terms of leverage levels offered to traders. Instead, it is just using the name of another company to pass itself off as a regulated brokerage.

The trading platform

When you are going through the offerings that Trade Alliance is promising, you will come across the option of a revolutionary web-based trading platform. This does sound attractive and will draw the attention of many because people want to use a powerful platform for trading, as it can greatly affect their experience and their success to some extent as well.

But, you will encounter a problem here because the Trade Alliance platform is not accessible. To log in, the brokerage needs to provide details, but not everyone will receive them.

This is a common tactic that scams use when they want to cherry pick their clients. No genuine company would ever have such restrictions or limitations because their goal is to be transparent about their services and features.

The leverage

One of the most important offerings of any online brokerage is the leverage they give you because it can affect your trading flexibility. You can make bigger trades with leverage, which can mean higher profits, but it can also result in higher losses.

Therefore, regulatory bodies impose a limit on the amount of leverage that can be given to retail traders. You will come to know that Trade Alliance is promising leverage levels as high as 1:500.

This is essentially confirmation that Trade Alliance is not a legitimate broker in the United Kingdom because the FCA has limited leverage to 1:30. It is clearly not following the regulatory framework, which confirms that it is a fraud.

The payment methods

Going through the payment methods that an online broker is offering to you is a must because you want to make your payments safely and quickly and also ensure that you can get your money back if there is any issue.

However, you will discover that Trade Alliance has absolutely no intention of letting you have your money back because they only offer one payment option; crypto.

It should be noted that Trade Alliance has not specified what cryptocurrencies you will be allowed to use for making a deposit.

Furthermore, you should not forget that crypto payments tend to be irreversible, which means you cannot file for a chargeback later and get your money back if you are scammed. Secondly, the payments are also anonymous and this can benefit Trade Alliance as well because it makes it easy to steal the funds.

Ending Thoughts

Even though Trade Alliance has tried really hard, you should not fall for its tricks and understand that it is a fraud.