TradeGF Review – Understanding the Issues

TradeGF Review

An online broker is the key to unlocking the financial markets, where you can find endless opportunities of making profits. Whether you are able to enjoy them or not depends on a variety of factors, one of which is the brokerage you choose. This decision may not seem like a big deal, but you need to understand that these platforms can play a crucial role in your trading journey. If their story doesn’t check out, as this TradeGF review will highlight, then there can be a hefty price to pay.

You have to bear in mind that it is not just the matter of high quality and low quality brokerages. Yes, these do exist, as some of the companies out there are professional and some do not offer good services. But, there is another category that you have to worry about and that is of fake and fraudulent brokers. Yes, these are a reality and their primary purpose is to steal your money. Would you let them do so?

Of course, this is a scenario everyone in their right mind would want to skip and it can only be possible when you do not select a broker without any research on your part. Not checking a brokerage properly could lead you into the trap of a scam, so you should never make this mistake. Even if you have to make a little bit of effort, it is a smart move because it helps you in avoiding fraudulent platforms.

It is essential to remember that you should not just believe what a broker is telling you and always check the facts yourself. Not everything they tell you will be true, as apparent in the case of TradeGF, which claims to be a top forex and CFD brokerage. It is offering low commissions, tight spreads and a user-friendly and powerful trading platform.

This sounds like quite a package, until you check for issues with TradeGF and find that it has a number of them. Take a look at some below.

Regulation and licensing

The easiest way to avoid a scam brokerage is by opting for a regulated and licensed broker. These are evaluated by a regulatory authority before getting a license and have to comply with rules and policies. They also have to meet certain standards and offer security and transparency. Therefore, you need to find a broker that fits this criteria. Does TradeGF do that?

When you look into its background, you will find that it claims to be founded by Get Financial LTD, a company which is based in Saint Vincent and the Grenadines. This is an offshore jurisdiction, which is notorious for being a scam haven, as it does not regulate its forex industry. This means that TradeGF is not a regulated and licensed broker.

A look at its website shows that TradeGF claims to be regulated and licensed by the Vanuatu Financial Services Commission (VFSC). But, when you check their online register, you will not find the brokerage listed there, or its parent company i.e. Get Financial LTD.

As a matter of fact, if you check out its parent company, you will come to know that TradeGF is likely part of an old scam. This is because the company has been blacklisted by the regulatory authorities in Spain, Italy and Belgium because it was operating another scam brokerage with a similar name. The only difference was the domain, as the previous one was tradeGF.com. This indicates that you are not dealing with an authentic company.

Trading platform

The feature that you engage with the most when you are using a broker’s services is their trading platform. It is the software that connects you to the financial markets and gives you access to the tools you need for trading and helps in trade execution. But, the software has to be up to the mark in order to accomplish this and not every platform is capable of it.

Hence, it is a must to assess the trading platform and doing so with TradeGF reveals yet another issue. Instead of offering you the market leading and popular trading platform like the MT4, the MT5, or the cTrader, as most professional brokers do, this one gives you a basic web trading platform. A look at the platform shows that it is overly simplistic and does not have anything special to offer.

As a matter of fact, this kind of platform has become quite common amongst scam brokers, as they offer it to create the illusion of legitimacy.

Trading conditions

Checking the trading conditions of a broker is also important because they have a direct impact on how much you can earn from your trading activities. You obviously want to make maximum profits and this can depend on the kind of trading conditions the broker provides. You will discover that TradeGF does not offer you competitive trading conditions.

If you take a look at the spreads, you will find that it has 3.3 pips spreads for the benchmark EUR/USD pair, which is excessive. Most brokers do not charge more than 1 pip and this is just too high. As far as leverage is concerned, you will learn that TradeGF promises leverage as high as 1:1000. But, when you check their platform, you will find it is capped at 1:200.

First off, they are lying about the leverage ratios to attract traders. Secondly, even 1:200 is a very high ratio because leverage can be very risky.

Payment options

If you take a look at TradeGF’s presentation, you will find that it claims to offer payment options like WebMoney, VISA and MasterCard. The reality is quite different, as it only supports bitcoin payments and bank transfers.

The fact that it is lying is a big problem and secondly, the two payment options it does support do not offer you the chargeback feature. This means there can be no refund at TradeGF in case of an issue.

Final Word

When you go over these issues with TradeGF, you can see that it is not a good fit for anyone.