Trade Momentum Review: Trademomentum.co.uk a Swift Scam

Trade Momentum is an obvious Ponzi scheme. The venture states that investors across the globe can join them and start trading. The registration process only takes 15 seconds. Just like all other scammers in the industry this venture views the crypto investment as a get rich quick asset.

The broker states that it offers three risk-free trades to investors after signing up. You need to note that digital currency and other assets which the entity is dealing with are very volatile. Therefore, we do not know the means that the broker is using to generate the alleged returns.

Trade Momentum claims it is trading Forex, Energies, CFDs, Indices, Shares, Futures, and Metals. They guarantee 1:500 leverage. It is also offering educational materials in form of videos for free to traders.

Nonetheless, we also learned that the venture is trading Binary options. These are like gambling assets that several regulatory bodies in the market have banned. You can lose all your money in a matter of seconds.

The company avails a demo account to assist investors to familiarize themselves with their platform. There is no limit however you should note that sometimes scammers manipulate data. Therefore, you might think you are winning trade will the reality is you are losing.

Trademomentum.co.uk Review

Trade Momentum allows investors to purchase binary options that vary from 30 seconds up to 60 months. Moreover, this venture guaranteed customers they will be able to cash out within 48 hours.

Unfortunately, if you make the mistake of depositing into this dirty scheme you will have to wait until the entity before getting your money back. The broker does not avail spreads but states that orders are executed within no time.

Trade Momentum states that it provides professional services to investors. It brags about having the best team of finance that has years of experience in the field. However, we cannot believe in their empty words. We need proof that they are indeed qualified.

Therefore, the best thing that the broker would have done is to credit them. Publishing their photos alongside their financial background. Until then we shall take their claims as a bluff. The entity also features awards that it has won since its establishment.

Sadly, we don’t know the organization or companies that credit them these awards. The broker has proven to be unreliable and untrustworthy. Therefore, we suggest that you refrain from giving them your money.

There are several investment schemes that are genuine. Here are some of the reputable forex trading brokers that have been in the industry for years. They are transparent and their customer support responds in time.

Trading Conditions of Trade Momentum

The platform offers a web-trader to investors. They are trading cryptos but their software is not ideal and we would prefer an MT4 interface. The venture offers leverage of 1:500 to investors. However, this is not a genuine venture and we suggest that you stick low cap especially if you are newbie investors. It is hard to know whether there is any trading activity on this platform.

The Domain Insight

Trademomentum.co.uk is a company that was registered in December 2012. The company is only three months old. The registration will expire after one year. It is no surprise to us because by the times this duration pass the company will be exposed.

Additionally, they will have gathered enough funds. Therefore, it might come back using a different domain name and ready to scam more people. The platform has very low traffic. This shows that traders are not interested in the services of this firm.

Withdrawal and Deposits

The minimum amount to deposit at Trade Momentum is $100.  The entity accepts funds via BTC. It is one of the methods that are hard to track your funds. Therefore, scammers use it to help them hide their identities.

Additionally, we were in shock after seeing the returns that the broker offers. It promises a profit of 1000%. The amount to yield keeps on growing as you deposit more money. There is no form of investment in the world that can generate such high earnings.

Trade Momentum appears to be a pyramid scheme. It uses the funds of new investors to cater to the withdrawal request of their clients.  There is nothing good that can come out of this scam. In the end, the withdrawal request surpasses the money coming into the company.

Trade Momentum Clients Feedback

The entity has a few client reviews on Trust Pilot. We usually don’t rely on the information from this website because the monitor is not strict. Sometimes scammers pay people to leave positive remarks behind.

Trade Momentum is an entity that is not licensed by the FCA. Additionally, investors who have registered with the broker claim that the firm does not avail of all the advertised assets. The venture is being accused of not releasing the funds of investors.

Nonetheless, the platform is also being marketed as legit. One person praises the entity for attaining high profits. However, there is no evidence that the entity is paying. He fails to provide evidence of payment.

Moreover, given the character of this scam, we take that this is one of their paid marketers. At the end of the day, they will receive their cut while you make huge losses. We suggest that you avoid this venture.

Regulation Status of Trade Momentum

Trade Momentum is a platform that does not have a trading history. The entity is operating as it pleases. It is allegedly based in the UK. Therefore, it should be in the database of the FCA. Unfortunately, they are not licensed by the Financial Conduct Authority.

Additionally, European Unions does not allow brokers to offer Binary Options services. You will not get fund safety from this scam. The fund goes directly to their BTC wallet. Therefore, there is no segregation of funds.

Trade Momentum has will also not compensate investors. They can exit the industry and never come back. We realized that the leverage the broker is offering is not as per the limit that the government of the UK permits.

Why invest with an entity that does not grant fund safety to traders? Moreover, the entity can change its terms and conditions to suit its own needs. Therefore, the best thing is to search for a better alternative.

Customer Support

The contact page of Trade Momentum has a broken link. Therefore, we do not know how investors can contact customer support. The platform is also not based in the UK. It is a nasty Ponzi scheme that happens to be operating in offshore.

Traders need to be careful with such a scam. Additionally, sharing your data with them will only expose you to severe risks. We suggest that you trade carefully. You are going to get the best outcome if you stick to licensed brokers.

Final Verdict

We have emphasized enough that Trade Momentum is not the right broker for you. There are better organizations in the market that you can use. We do not recommend this entity as it has multiple red flags.

These include unavailability of customer support team. They are also not regulated. Moreover, the broker is offering a leverage cap of 1:500. Their rewards are also absurd. Invest with transparent forex trading brokers that have a trading history. The best companies provide real time returns to investors.

 

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