Trader-Cr is a forex broker that claims to offer a variety of trading services, including spot forex, CFDs, and binary options. However, there is a growing body of evidence that suggests that Trader-Cr is a scam.
Who Are Trader-Cr?
Trader-Cr is a relatively new broker, having been founded in 2019. The company’s website claims that it is regulated by the Financial Conduct Authority (FCA) in the UK. However, there is no evidence to support this claim. In fact, the FCA does not list Trader-Cr on its register of regulated firms.
Team
The team behind Trader-Cr is anonymous. The company’s website does not list any contact information for its management team. This is a red flag, as legitimate brokers typically provide detailed information about their team members.
License and Regulations
As mentioned above, Trader-Cr is not regulated by any reputable financial regulator. This means that there is no governing body to oversee the company’s activities and protect its clients. This is a major red flag, as it suggests that Trader-Cr is not a legitimate broker.
Why Should Not You Trust An Unlicensed Broker?
There are several reasons why you should not trust an unlicensed broker. First, unlicensed brokers are not subject to the same financial regulations as regulated brokers. This means that they are more likely to engage in fraudulent activities, such as stealing client funds.
Second, unlicensed brokers are not required to provide their clients with the same level of customer protection. This means that if you lose money trading with an unlicensed broker, you may have difficulty recovering your losses.
Currency Pairs They Offer
Trader-Cr claims to offer trading in a variety of currency pairs. However, the company’s website does not provide a list of the specific currency pairs that are available. This is another red flag, as legitimate brokers typically provide detailed information about the trading products that they offer.
Minimum Deposit and Withdraw Method
The minimum deposit requirement for Trader-Cr is $250. The company’s website does not list the withdrawal methods that are available. This is another red flag, as legitimate brokers typically provide detailed information about the withdrawal methods that they offer.
Traders’ Feedback
There are a number of negative reviews of Trader-Cr online. These reviews allege that the company is a scam and that it has stolen client funds.
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