You have no idea how much I love to visit a brokers’ website and see some amazing promises. In this specific case, TradInvestor said its team is dedicated to delivering superior services in CFD and Forex trading. What more can we ask from a broker than to put the client in the first place and do certain things to gain trust. So, without further ado, let’s see if TradInvestor has a plan to fulfill this promise.
Quality of service
Let’s start with the trading platform. The one you can use is web-based and there are no limitations when it comes to the device. It works just fine on both computers and mobile phones. The design is not the best one, but those are all personal preferences. I would like to see more features on the platform since it’s quite simple and I don’t believe it would fulfill the needs of experienced traders.
For accounts, you can choose between four of them. The minimum deposit is €2,500 and each account brings different benefits. Of course, there are some similar things, so with each account, you will receive free webinars, margin loans, and different leverage.
Lastly, we have the education part, and this is where the first disappointment came. Yes, you can choose between Forex and Crypto articles, but the thing is, those are just the most basic explanations. You will learn What is Trading or What is Bitcoin and I believe that even if you are a beginner, you already know that.
Speed of response
When it comes to speed of response, the second disappointment came. At the first glance, everything is perfect. The support representatives work 24 hours, 5 days a week and they will be at your disposal always.
But my main concerns are different methods of contact. There are only two of them, email and fill-in form. The phone number is hidden, so the only thing you can see is +44 XXX XXXXXXX. So, if a broker wants to be helpful and provide excellent support, why would they hide the most basic thing like a phone number? That’s something we will never find out.
Transaction speed is not the best part of the offer this broker has. Not because of the amount of time it takes, but because of the things this broker said. On the website, you will see that it takes two to five business days, which is excellent.
Reality is a bit different, though. Those two to five business days are just for the time you will have to wait for TradInvestor to proceed with your request. After that, there is a security procedure and we do not know how long that lasts.
Once your documents are accepted, you have to wait three to five business days to begin the process. When your request is processed, the waiting time is up to five business days to receive the funds. If you use a Credit/Debit Card, this process could last longer depending on your provider.
That said, overall waiting time takes approximately 15 business days and I wouldn’t mind that at all if this broker did not write that the process lasts up to five days.
The first fee that I find reasonable is the withdrawal one. Almost every broker charges them and with TradInvestor you will have to pay 50 USD/GBP/EUR for Wire Transfer, 25 USD/GBP/EUR for eWallet payments, and 25 USD/GBP/EUR for Credit Cards (plus the processing fee of 10 USD/5 GBP/7 EUR).
The fee I do not find reasonable is a penalty fee of 20%. This one is charged if you do anything that is against the Terms and Conditions. So, if you open an account you give a right to this broker to charge you this fee whenever since there is one statement that says TradInvestor has a right to change Terms and Conditions whenever without prior notice.
TradInvestor is an unlicensed broker. I’ll be honest with you, regulation is not the first thing I want to see. If trading conditions are excellent and my funds safe, I don’t mind the lack of license. But in this specific case, trading conditions are not good at all, so I wouldn’t advise you to open an account and risk your money with this broker.
Variety of payment methods
For deposit, you can use Wire Transfer, Credit/Debit Cards, or eWallet. The selection is not bad at all and you have to choose the same method for withdrawal. So, keep an eye on the fees (they are different for each method) and choose the one that you find the most reasonable.
At the end of this TradInvestor review, I can say only one thing — there is plenty of fish in the sea. You can find better brokers that will offer you Forex and CFD trading at much better conditions, so keep on looking.