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Trading-Coast is an unregulated company that should be out of the market. Its own purpose is to scam investors. They do not care about their clients’ needs. The broker does not have a responsive customer support team.
Trading-Coast is a broker for trading forex, CFDs, and options. This platform has been around since the year 2020. The company claims to take compliance and ethics seriously. Additionally, they promise to remain committed to professionalism.
However, this website sees very little online traffic. It ranks 3,118,936 on Alexa rankings. This is very low for a company that has been around. There are several reasons why this platform is performing this poorly. This review will look at the different aspects of this company. In the end, we will see if it is truly worth investing in.
Many forex brokers exist in the market. However, only the best can deliver the kind of professional service that investors are always looking for. Most of the companies are only in it for the money. They use different schemes to attract customers. But they never deliver on what they promise.
Trading-Coast also uses several marketing schemes. They hold weekly contests and offer 35% deposit bonus. This is just a ploy to attract customers. The services on this platform are inferior and do not measure up.
Only the best forex brokers in the market can deliver quality services. These are companies with a long and impressive track record.
Trading-Coast platform supports both MT4 and MT5 trading platforms. These are the most popular trading platforms among traders. Therefore, it is refreshing to see Trading-Coast supporting them. Additionally, Trading-Coast helps novice traders. This is because they provide tools and learning materials to introduce users to trading.
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Trading-Coast provides high leverage. The standard leverage goes up to 1:200. Additionally, they provide a 100% margin booster. They do this to help traders to perform larger transactions. This is very helpful, but it raises the leverage to almost double.
Further, they offer very low spreads. The spreads on Trading-Coast are from 0.5 pips. This helps traders maximize their profitability in the markets.
The team at Trading-Coast boasts a world-class customer support system. Clients can reach the company by emailing them. Additionally, you can contact the company via the live chat option on the website. You can also leave a message by filling out a contact form on the website.
However, customer support is only available from Monday to Friday. The operating hours are Monday 00:00 to Friday 16:00 GMT. The customer support is in several languages.
Trading-Coast has various investment accounts. The minimum amount that you can deposit on their website is 250 EUR. All the accounts come with a personal account manager. Their micro account has three insured traders, and floating spreads.
The silver Portfolio allows investors to take a loan from the bank. You can also trade two various assets. There are a total of 50 instruments at the disposal of investors. The VIP account is the most expensive.
It accepts a deposit of 100,000 EUR. Funds can be deposited via Wire transfers, VISA, and MasterCard. Nonetheless, we do not recommend this entity to the members of the public. There are several genuine firms to entrust with your money.
Deposit and Withdrawals
Trading-Coast accepts deposits from various payment options. Additionally, they allow withdrawals through different channels. However, the withdrawal processing time is from 12: to 14:00 GMT daily except for Saturdays.
Further, clients can make only one withdrawal request within the withdrawal time. This means that you have to wait for one withdrawal to go through before making another. This can be very inconvenient in an emergency. Moreover, the withdrawal process takes very long.
Further, account holders can only withdraw using the same channel as deposits. There are better companies with more flexible payment options.
Withdrawing your first deposit before making a trade can be tedious. The company has the right to hold up withdrawal requests for up to 90 days. Additionally, the company charges a 5% withdrawal fee.
Regulation and Fund Safety
Next, we will look at the regulatory status of Trading-Coast. This is where things start to fall apart. Trading-Coast promises to remain committed to compliance and ethics. The platform is operating illegally. They are a registered company in the country of UK. Additionally, they give their physical address is Heron Tower, 110 Bishapsgate, London EC2N 4AY United Kingdom.
However, it is hard to trust such information. Moreover, the United Kingdom has strict rules when it comes to investment companies. Therefore, the headquarters of this company maybe somewhere else.
On a good note, though, this company shows commitment to maintaining funds’ safety. They have segregated bank accounts for the company and the owners of the company. Additionally, they have tight anti-money laundering policies.
Additionally, the website has an SSL certification. This means that it has protection from unauthorized parties. However, there are many other ways to lose money online. This is not assurance that you will not lose money. The owners of this company may decide just to take off. They are unknown, and it will be hard to track them down.
Moreover, once we checked in the database of the Financial Conduct Authority we did not find this venture. Therefore, it is clear that once you give them your money you will lose all of it. There are genuine investment firm in the market that you can use,
Trading-Coast Customer Feedback
Customer feedback helps people to determine whether a company is worth investing in. Luckily, there are several customer reviews on various platforms about Trading-Coast. This company has a very low rating.
Many of the customers are complaining to have lost their money. One trader even found out that their account did not correspond to a real MT4 account. From the customer reviews, we can tell that this company is busy scamming individuals.
Take it from the people who have already lost their money. Run while you still can. This forex broker has nothing to offer you. Their domain name also shows that the company has no intention of being in the industry for a long duration.
This forex broker is only in it for the money. They have nothing to offer real traders. The company has a lot of red flags that no one should ignore. They are operating from a country with very loose laws. Therefore, their regulatory status is not reliable.
Additionally, the individuals running this company are willing to lie to attract customers. They lied about having their headquarters in the UK. Sooner or later the scam will be blacklisted from the industry. They went ahead and issued a warning against using the company.
There are better companies that will offer you better services. Only use legitimate forex brokers that have regulatory licenses to operate. Such companies will provide you with the safest environment to grow your money.