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70Trades Review
Traders Rating2 Votes0.35
Website: https://www.70trades.com
Address: Law Partners House, Port Vila Vanuatu
Phone: +442031290685 +35799101654
Email: customer.service@70trades.com documents@70Trades.com
Company: Commodius FX Ltd / Wanakena Ltd
Regulation: Offshore
0.1
70Trades Rating
70 Trades Warning
70Trades is an offshore broker! Your funds are not safe. We are not going to recommend 70Trades
Have You Been Scammed by 70Trades?

 

70Trades: Everything that you need to know

 

Brokers. Something that you are going to use when you are trading online. There are trustworthy brokers and brokers that you should rather stay away from. 70Trades are one of the brokers that you can use online.

However, are they trustworthy or are they one of those that you should stay away from? With this full review, will get to know everything about these brokers. And, you will see that this might not be the best brokers to use online.

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Info about broker

 

70Trades are situated in Vanuatu. Making them offshore brokers. They are trading as forex and CFD brokers. The different type of cryptocurrencies that they are using is unknown and this is the first sign that they might be risky to use.

They have a valid address, email address and even have a couple of telephone numbers published. Making them safer to use than other brokers. However, there are still a couple of other things that you should make sure about them before you can start using them safely.

 

Are they registered and regulated?

 

Are 70Trades registered and regulated? Here you need to be really careful, to understand it correctly. The brokers are owned by a registered company called Commodius FX Ltd. This is a registered broker in Vanuatu. And, they are regulated in Vanuatu.

However, this means that they are regulated offshore, with offshore rules and regulations. Making them still not safe to use internationally. In general, it isn’t safe to use brokers that are offshore brokers, and if they are registered offshore, it is still as dangerous. Not only are your money not secure, but they have trading rules that are completely different from the international regulations and international trading rules.

 

Account and required deposit info

 

70Trades do offer three different accounts. The accounts are known as the entry-level, advanced and pro account.

The required deposit starts at $200 for the entry level account. This is a bit high for an offshore broker and this can mean that you risk a higher amount of money. Another problem is that there isn’t any information about the required deposit of the other two accounts. Letting us wonder why they don’t give the necessary information to make the right decision about which account to choose.

 

The platform that they are using

 

This is a problem that we have with 70Trades. The platform that they are using. They don’t offer the MT4 platform. We all know that MT4 is the most popular and trustworthy platform that we can use for trading.

And, if we don’t get this platform, that we are risking using a platform that we can’t use and that aren’t as trustworthy and reliable as MT4. This is why it is important to use a broker that is offering MT4 as a platform. 70Trade doesn’t and you need to reconsider using them.

 

Not using a huge variety of payment methods

 

The more payment methods a broker has to offer, the easier it is for traders to make the deposit and to withdraw their funds again. Normally, you are getting a huge variety of payment methods that include the normal credit and debit payment options and all the e-wallet payment options.

With 70Trades, this isn’t what you are getting. They are limiting the e-wallet payments to only a few of them. Making it harder to make payments and withdraw money from your account again.

 

High commissions fees to be paid

 

This is something serious that you need to consider. There are high commission fees that you need to pay to trade with them. Meaning that you are going to pay them a lot of your profit that you are making.

Even, if this is legit for them to make high commission fees, and other fees that traders need to pay, this is something that you should consider. The more money you are paying in fees, the less money you are going to get at the end of the day.

 

Unusual trading regulations to consider

 

Because they are offshore brokers, they have unusual trading regulations to consider. Their rules and regulations aren’t the same as what you are used to. Making it riskier for you to do something wrong and to get canceled.

When you are used to certain trading regulations, it is hard to start trading with other regulations in mind. And, you won’t be sure that your money is going to be safe and secure. This is something to consider before you register with 70Trades.

 

What are regulators saying about these brokers

 

What are our regulators saying about this broker that is regulated offshore? Our regulators are warning against using these brokers. This is because of the fact that they are trading with different rules and regulations. And, they aren’t internationally registered and regulated.

The other thing that you should know is that your money is never safe when you are making use of an offshore broker. Even if you are making use of an offshore broker that is registered.

70Trades. An offshore, registered and regulated broker. But, still not a recommended broker to use. This is because they aren’t registered and regulated internationally, and they don’t really offer great benefits. There is no information about the different accounts that they are offering, and your money won’t be safe in an offshore account.

 

 

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Online Trading Scams / 9 Responses / by

Post Author: ScamRecovery

9 thoughts on “70Trades Review

  • rajesh

    (May 8, 2019 - 9:33 pm)

    I start trating frm 70trades forexog amount 200$ but unfortunatly i lst my amount eithout trade or nothig help or response frm guy of 70trafes i really dissapoinment of loss of tgese ajount that i hqve a expectatuon to earm money grm thrs but cant they may cheat .so pls iam a poor man i have an little amount which i lost ..through theae so pls make an arrange to refund my amount of 200$plsss to my account or mail me..
    Thanks hope best respinse

  • MALAIKA Grace

    (May 17, 2019 - 8:11 am)

    I have also invested my many in 70trades but I don’t see any change but still there telling to add money on my account that it has to be strong in order to make good money but is 70trades true online business or its a scam so that I stop putting my money there . please I need your help

  • MALAIKA Grace

    (May 17, 2019 - 8:18 am)
    2.3

    What of Olympus online business and Teslor are they true and if I want to do on line business which organization can I join please

  • SIVAKUMAR NAGARAJAN

    (May 21, 2019 - 6:19 pm)

    I start trating frm 70trades forexog amount 200$ but unfortunatly i lst my amount eithout trade or nothig help or response frm guy of 70trafes i really dissapoinment of loss of tgese ajount that i hqve a expectatuon to earm money grm thrs but cant they may cheat .so pls iam a poor man i have an little amount which i lost ..through theae so pls make an arrange to refund my amount of 200$plsss to my account or mail me..
    Thanks hope best respinse

  • boss

    (May 22, 2019 - 12:57 pm)

    70 trades cheat customers by placing ads that their account managers will advice for all instruments opening & closing, once we start trading them they will ask you to put more funds….they will advice you to open positions and will keep quiet till they end up in losses…they cheat customers…they have a team of cheaters Rudra, Shivangi, Shivakumar, Arjun, Natasha and so on…once you end up in losses then they will not answer your calls,

  • Ahmed ALRowahi

    (July 31, 2019 - 6:58 am)

    I have been scammed by 70 Trades few months back. I have deposited $ 95950, most of which they have lead me to loose it. Even when I made some profits and closed all open positions and tried to withdraw my money; they kept playing with me and procrastinating. There is $ 59834 in my account and they keep saying they will pay me, however I haven’t seen anything since I first requested on 18 June. Stay away from this scam company to be safe; it was my big mistake to believe them. I have not done enough research about them, and now I am paying a big bill because of this. I hope that they will be nailed as soon as possible by any authority. They are cheaters and crooks.

  • cvaradaraju cvaradaraju

    (September 27, 2019 - 1:42 pm)

    sir i was brain washed and i deposited Rs 1200dollars and later seeing the views i asked them for with drawl they asked me to submit papers and now they dont respond

  • Basheer

    (January 27, 2020 - 4:25 am)

    I had been cheated by 70 trade. I have been deposited (firstly) 200$. Then again they forced me to deposit again 1000$ including getting to make some profit thru trade. Again they giving me some benefit to attract me to put more and force me to deposit 1000$. (total deposited 2,500/- US$). Meantime, they are not in response. Frequently never been touch or contact me. Very occasionally they come back say trade on this and that to get some profit. In between, I had been requested many time to get the withdrawal. They always say something and escaped. After I got all profit and having Total US$ 6,177/-. Now today it showing nothing in balance in account. Really it’s a big scam and cheating company. My opinion is not anyone to join with this such a cheater company.

  • Atif

    (March 5, 2020 - 10:59 am)

    thanks for god i saw all messages. yesterday i transferred 200 dollar. this is my big mistake they trap me.

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