Trendex Review 2020 – Is It a Scam?

Web site URL: http://trendex.co/

Based: 2019

Laws: Unregulated

Languages: English, Spanish, Russian

Deposit Strategies: Visa, MasterCard, Financial institution Wire

Minimal Deposit: €500

Free Demo Account: No

Variety of Property: N/A

Forms of Property: Foreign exchange, CFDs

Buying and selling Accounts and Situations

Trendex is a Foreign exchange and CFD dealer that’s primarily based out of Hong Kong. The dealer gives its purchasers a alternative of 4 completely different account sorts:

Bronze: With a minimal deposit of €500, a leverage of 1:200 and a variety of 1.8 pips
Silver: With a minimal deposit of €5,000, a leverage of 1:300 and a variety of 1.5 pips
Gold: With a minimal deposit of €25,000, a leverage of 1:400 and a variety of 1 pip
Black: The minimal deposit will not be specified, however the account has a leverage of 1:500 and a variety of 0.5 pips.

Trendex – Benefits

Here’s a listing of the benefits we now have seen with Trendex:

Activ8 Buying and selling Platform Provided

Activ8 is a well-liked buying and selling platform that’s stable and dependable. It was developed by Leverate, the creator of the Sirix buying and selling platform.

Regardless that it’s a web-based buying and selling platform, Active8 is user-friendly, has good charting choices and comes loaded with analytics instruments. The platform additionally has a Methods section, the place merchants can select from a variety of buying and selling bots, and likewise incorporate exterior market analyses.

One other plus is the degrees of leverage supplied by the dealer in every account kind. The Black account gives purchasers a most leverage of 1:500, which is sort of favorable and interesting to all varieties of buyers.

Nonetheless, we additionally must level out that prime leverages include correspondingly excessive threat.

Trendex – Disadvantages

Listed below are the disadvantages we now have seen with Trendex:

Trendex claims to be owned and operated by an organization referred to as TRND HLDS Restricted. This can be a firm that’s registered in Hong Kong, nonetheless, on the dealer’s web site, there is no such thing as a info given about its registration or license.

After we checked the web registry of the Hong Kong Securities and Futures Fee (SFC), the monetary regulator of the territory, we didn’t discover TRND HLDS Restricted listed wherever.

Based mostly on this investigation, we will safely say that Trendex is an unregulated dealer. And which means that it will be finest should you didn’t commerce with it.

$100

Minimal Deposit

Plus500 is a FTSE 250 listed brokerage offering on-line buying and selling providers in CFDs, throughout 2,000+ securities and a number of asset lessons.

$100

Minimal Deposit

The corporate was created as a mixed effort of economic professionals and specialists in web-commerce with the aim of perfecting the web expertise for retail merchants.

One other destructive we discovered with Trendex is that it has no demo account. Which means a dealer can not examine the buying and selling circumstances or expertise the buying and selling platform till she or he really opens a stay account and begins buying and selling with actual cash.

Not having a demo account is typical of iffy brokers, so it’s one other warning to remain away.

Issues Registering Account

For the reason that dealer has no demo account, we tried opening a stay account with Trendex. Nonetheless, once we signed up, we have been unable to entry the buying and selling platform and even view a shopper dashboard.

That is one more purple flag since should you can not entry the buying and selling platform, there is no such thing as a approach to affirm that the Trendex really gives the Activ8 platform. We additionally can not affirm that the unfold and leverages promised on the dealer’s web site really exist.

The fundamental (Bronze) account supplied by Trendex has a variety of 1.8 pips on the benchmark EURUSD forex pair, which is on the upper aspect by trade requirements. It’s also not favorable for merchants.

The web site additionally asks its purchasers to put in in addition to use the AnyDesk app. This software program is a distant desktop device that offers distant entry to your private laptop.

So, if an unregulated dealer asks you to put in this app, it’s a harmful signal – all of your private info reminiscent of bank card particulars, checking account particulars and so forth might be theirs for the taking.

Excessive Minimal Deposit Requirement

The minimal deposit requirement demanded by Trendex is sort of excessive at €500. Reputed and controlled brokers often require you to place in about $250 as an preliminary deposit as a way to begin buying and selling.

Skrill is likely one of the hottest on-line funds suppliers at this time, and the truth that Trendex doesn’t have help for this cost technique is a purple flag.

The corporate not too long ago instituted a brand new coverage focusing on scammers, and it’ll not companion with brokers which might be unregulated, so that ought to offer you a warning signal that Trendex is to not be trusted.

Unfriendly Withdrawal Situations

In case you want to withdraw your funds from Trendex, you’re in for a shock. The dealer won’t mean you can withdraw lower than $100 at a time if you’re withdrawing to your debit or bank card. And if you’re withdrawing to your checking account, then you definitely can not withdraw lower than $250.

Added to that, should you haven’t executed not less than 10 trades on the Trendex platform, then you may be charged additional withdrawal charges.

This isn’t a pleasant not a standard observe and it sends out one other warning sign that this dealer is to not be trusted.

Conclusion

After having gone by means of the Trendex web site and having tried to create a buying and selling account, we now have come to the conclusion that this can be a dealer that can not be trusted. There are too many anomalies that lead us to consider that this dealer is a possible scammer.

Trendex will not be regulated – even by the Hong Kong SFC, has no demo account, gives poor spreads, has a excessive minimal deposit requirement, has unfriendly phrases and circumstances, and is asking you to put in and use the AnyDesk software program.

These factors all clearly present that you just stand a really sturdy probability of shedding your cash should you make investments with Trendex.