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TitanTrade is another SpotOption based broker that is praised for its daily Market Review updates. Most of the brokers begin with timely updates but then the frequency decreases and keeps decreasing until it becomes down to literally no updates for months. Hopefully, this will not be the case with TitanTrade…
Traders love SpotOption and that’s why brokers love using this platform to attract investors. TitanTrade website looks professional and decent. The UI is exceptionally impressive. Apparently, there is nothing fishy on the website. The good thing is that the broker is now using SpotOption 2.0 which offers more trading options than any other platform.
The website is functional, a good news, but is there anything you need to worry about? Could any of the TitanTrade scam complaints convince us? Who runs the platform, where does it operate and what’s the broker’s legal status? Let’s find out.
We have conducted a thorough investigation into TitanTrade which means that this review is likely to become quite lengthy, so to make things easier for you we’ve put together some quick navigation links below. You can use these links to quickly jump straight to the specific information that you came here looking for.
- TitanTrade Background
- Is TitanTrade Regulated?
- TitanTrade Complaints
- TitanTrade Withdrawal
- Is TitanTrade a Scam?
- Our Verdict on TitanTrade
- Get Your Money Back From TitanTrade
- A Much Better Way To Make Money
According to the website, GN Capital Ltd. owns and operate TitanTrade. The following is the address of the company:
Ajeltake Road, Ajeltake Island, Majuro Marshall Islands, MH 96960.
The platform was established back in 2013. Originally, nothing was revealed about the ownership of the platform. In the beginning, the website only mentioned an address that was as follows:
35 Barrack Road, 3rd Floor, Belize City, Belize.
It was in 2017 that the website mentioned DOM Technology Services Ltd. as the owner and the operator of TitanTrade. In addition, tradettn.com held the copyright. We tried to visit tradettn.com but the website is not accessible.
The broker’s website was simple and doesn’t contain anything complex. But it is not the case now! If you visit the website today, you hardly find anything about the policies, terms, legal status of the company, FAQs, or anything you are looking to know something about the broker. It is a simple page with the least amount of information. The top bar offers a registration option for the traders. But who’ll register without having the required information? The changes in the website over time have given rise to significant doubts.
Is TitanTrade Regulated?
TitanTrade is NOT regulated. We managed to find three warnings from different regulatory authorities. The first was issued by ASIC (Australia) on 04-08-2016. The content of the warning is interesting. It suggested that nobody should click on any advertisement that is promoted by TitanTrade.
The strict action was taken by ASIC to keep the guilty broker out of its premises.
UK Companies House warned against DOM Technology Services Ltd. claiming that the company will be dissolved if it doesn’t show the cause for violating the law (14-02-2017). It was after this warning that the TitanTrade website came up with a new name as its owner and operator.
On 20-02-2017, the IFSC (Belize) warned against TitanTrade for misleading people by using fake addresses. It was also clarified that the broker was neither registered with nor regulated under any regulatory authority in Belize.
Traders are not happy with the service quality. Most of the TitanTrade clients have been annoyed by the BOTS. The traders are irritated for not finding a way to reach the support team.
The complaints grew with time and the traders revealed their concerns about highly ignorant and unprofessional approach of the broker’s reps. What is next? You can easily anticipate! It is the inability to withdraw funds from TitanTrade accounts. These complaints are followed by the revelation that the traders’ funds started to vanish from their accounts.
So, we have another broker following the same tradition set by many unregulated brokers. They start off well, show professionalism, and attract clients from different regions. The regulatory authorities start to issue warnings, they tell people the truth about the broker, the broker then starts to annoy its clients one way or the other, and it all ends with the delayed withdrawals, unauthorized access to accounts, and disappearance of the trader’s funds.
The provision of the identification documents was necessary before submitting a withdrawal request. TitanTrade facilitated Wire Transfer and Credit Cards. The processing required no less than 7 working days. You could not withdraw anything less than $50. $100 was the minimum amount you could withdraw via Wire Transfer. The processing fee was $35.
The website originally claimed that the withdrawal over Credit Card was free. On the contrary, the terms and conditions on the website suggested that $35 will be charged by TitanTrade for the processing of a withdrawal via Credit Card.
Is TitanTrade a Scam?
Yes, it is! TitanTrade scam is an ugly example of an illusionist art of distraction. The broker came up with an exceptionally appealing website based on SpotOption, later SpotOption 2.0, and daily market review. The scam artists distracted the clients with sugar-coated words and seemingly promising performance in the beginning.
The information on the website was changed frequently. The ownership was shifted again and again. The address was fake. It was the issuance of warnings from the regulatory authorities that forced the clients to focus their attention on a possible scam. But it was too late. With such brokers, you don’t stand a chance after depositing significant amount in an anticipation of huge profits.
Our Verdict on TitanTrade
We DO NOT recommend TitanTrade. The reasons are obvious and we don’t think that we need to repeat them. We want you to do an in-depth research before selecting a broker. These days, affiliate marketers are also showing interest in such platforms. They misguide traders only to earn some commission. Funnels and pyramid-scheme like structure are also entering this industry. The whole game revolves around attracting more investors before the scammers get enough in the traders’ accounts. Once they reach their target, they just execute the escape plan.
Get Your Money Back From TitanTrade
Hopefully you haven’t yet deposited into TitanTrade & have found this review first, but if you have already lost money to TitanTrade then rest assured you have landed in the right place.
The reason we say that is because we have put together a free money reclaim guide which shows you step-by-step exactly how you can get your money back from binary options scammers.
So if you have lost money to a binary options scam then our guide will be able to help you out – and it has helped thousands of others to successfully reclaim their funds to date.
A Much Better Way To Make Money
Truth be told here at Stopping Scammers we hate trading, especially binary options trading – even with the most legitimate brokers. The reason we hate it is because most people fail to make sustainable profits, and we know there are much better, safer ways to make money online.
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