Tradiva.com claims to be an online trading platform that is run by a team of professionals in the fields of financial as well as internet technology. We have spent time investigating this broker to assess them and we have come to the conclusion that they are not, in fact, a legitimate operation. Read on to find out more about the Tradiva scam.
Table of Contents
What is Tradiva?
Before we talk about the reasons why we have tagged this broker as a scammer, let’s find out what Tradiva is.
On its website, Tradiva claims to be a financial trading leader in the emerging global market. What this means is that this entity has positioned itself as a forex trading broker. The broker claims to have been in the market for the last 5 years and has more than 170,000 open accounts.
Tradiva offers its customers 4 different types of trading accounts:
- Mini: For you to be able to trade on a Mini account, you first need to deposit $500.
- Standard: To open a Standard account, you first need to deposit $5,000.
- Gold: To trade with a Gold account, you need to make a first deposit of at least $10,000.
- Platinum: To trade on the premium Platinum account, you need to make a minimum first deposit of $25,000.
The broker also offers Islamic accounts, but this information can only be seen in the Terms and Conditions page.
Is Tradiva Scam or Legit?
The novice or schooled trader could be impressed by the claims made on Tradiva’s website. However, when you dig deeper, you realize that this broker is a complete scam and that your money is not safe with them. Read the rest of our Tradiva review to find out why.
No Trading Conditions
A trader needs to know trading conditions to be to able trade effectively and also to know what the trading costs will be. With Tradiva, we do not have any information on its trading conditions. There is no mention of leverage ratios or even spreads. So, basically, if you trading on this broker’s platform, you will be going in blind, leaving you open to computer manipulation of bid-ask spreads.
This is a typical strategy adopted by scammers who don’t wish for you to know how much you stand to lose.
Lies About Operations
On its website, Tradiva has claimed that it has been in operation for the last 5 years. However, when we investigated this claim, we found out that the official site tradiva.com was created back in 2012, but was only launched in 2018 – 2 years ago.
Conflicting Corporate Information and Lack of Regulation
The broker gives two contact numbers on its website – one in the UK and another in Russia. However, at the bottom of its home page, Tradiva states that it is owned by a company called Market Solutions Ltd, a company that is based in St. Vincent and the Grenadines (SVG).
SVG is a known destination for scammers, but more importantly, the jurisdiction has clearly and publicly stated that it does not regulate forex brokerages.
We also checked the UK’s FCA (Financial Conduct Authority) registry to see if this company was regulated there. There was no company by that name listed on the FCA’s website.
We can, therefore, conclude that this broker is operating without the proper authorization to do so.
Offers Trading Bonuses
This broker also offers trading bonuses, an extremely controversial promotion that has banned in most jurisdictions. This is because such bonuses come with strings attached. You will need to meet impossibly high trading turnover targets (the details are given in the Terms and Conditions section) to be able to withdraw the money you have invested. And if you do not meet that target, then the broker reserves the right to cancel your withdrawal request.
Conflicting Information About Trading Platform
On its main Platforms page, Tradiva claims to offer its clients the WebTrader trading platform. However, in the Terms and Conditions page, the broker states that it offers support for the Meta Trader 4 trading platform.
Unfortunately, since this broker does not offer a demo account, we were not able to verify the type of trading platform used by them. The lack of a demo account is also another hallmark of scammers.
Strange Withdrawal Conditions
This broker also has some strange withdrawal conditions. They say that they can put limits on the amount you wish to withdraw, and these limits will be imposed at any given point in time.
The broker goes on to say that it will charge 5% of the total withdrawal amount if you have not made at least 5 independent trades on your account. And that they can deny your withdrawal request or even place your payments on hold if they feel you have broken the Agreement in any way.
If you have not carried out a trade in the last 90 days, then this broker will charge you 5% of the amount in your account as an Inactivity Fee. Every month until you begin trading again.
Most legitimate brokers will wait at least 12 months before charging a nominal inactivity fee.
Tradiva is a scam that is out to get your money. There are too many anomalies that point to the fact that your funds are just not safe with this broker.
We would recommend that you look for another online forex broker – one that is regulated, transparent about its trading conditions and clear about its operations. In addition, we hope that this scam broker review has helped you understand how to spot any forex trading scam in the future.
Tradiva Scam – Cut The Crap
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Got Scammed? How To Get Your Money Back?
We know the frustration you feel after being scammed. At a certain point, you feel lost, and you have no idea what to do next. It’s a traumatic experience. What you’re feeling is valid and understandable. However, you don’t have to dwell in that dark place for a long time.
All hope is not lost as there are various ways to get your stolen money back. Yes, you read that right. If you have been scammed, you can apply these tips to increase your chances to retrieve your money from those shameless scammers.
If you paid using a credit card, you can use chargeback to request a refund from your bank card provider. In addition, you can also use chargeback if you paid using a debit card. A word of caution, though, there are requirements before this applies, so know them first.
You can also file a complaint about the PSP (Payment service provider) and demand for reimbursement. If you’ve been scammed and the banks involved are not doing what they are supposed to do, you should be refunded after the fraud happens.
But if nothing still works at your advantage, and you need further assistance, you can contact us through our email, [email protected]. We will help you in any way we can. Don’t worry. We’ve got you covered!