Warning: TradeTime is a definite scam. There are lots of warnings against this company on all review sites and a long list of very unhappy customers.
They present themselves as cutting-edge sophisticated investment professionals promising you attractive profits but in fact, they send you down a money drain and never let you withdraw your money. Their scam is highly elaborate and is running like a real business but the clients are being played to lose through platform manipulation, and all sorts of small prints gimmicks to prevent withdrawals.
If you have invested with this organization, you should consider that you have been scammed and start looking at your options to recover your funds. Click Here for Help
The company at the behind of TradeTime is SILVER GROUP Ltd., which is incorporated in Vanuatu. Although they are licensed by the Local Financial Services Commission (VFSC), this does not bring much credibility to the company. I’ve searched through the VFSC and didn’t find anything like Siver Group or Trade Time.
As you may or may not know, the financial sector is heavily regulated in most countries. The rigor of the rules applied varies considerably from one place to another. Offshore areas are generally not as reliable as developed economies, with Vanuatu being the “jewel in the crown” of soft regulation.
The VFSC is known for its low capital requirements: you can open a foreign exchange broker with only $ 2,000 in capital. By way of comparison, the UK Financial Services Commission (FCA) requires a minimum of € 730,000. In addition, the FCA requires frequent reporting on activities and applies many rules.
From a fund security point of view, two are the most important. First, merchant funds are kept in separate accounts, which means the broker can not access them freely (and spend them). In addition, all FCA-regulated brokers are required to participate in the Financial Services Clearing Program (FSCS). It is a system that guarantees the commercial capital of clients against the bankruptcy of brokers. If you trade with an FCA-regulated company that becomes insolvent, you will be able to claim 90% of the value of your account up to a maximum of £ 50,000 from the Plan.
In addition to flexible regulation and account type creation mechanism, TradeTime also provides trading signals. While this is not exciting in itself, they seem to come directly from the company, which can create a conflict of interest. Other services, such as eToro, the largest social trading network in the world, allow you to follow successful traders. The main difference is that they are third parties, who only benefit if they make a profit.
Silver Group Ltd Registered in Vanatu
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