When we review Forex brokers, we are sometimes subject to the exact schemes that these brokers use on potential customers. For example, we ourselves get caught up in the hype of a good looking website. In our TradeFW review, we will not only try to deconstruct this broker and reveal to you why they are a scam. But we will also try to show you how exactly do these shady brokers take advantage of your emotions and make you believe that they are trustworthy and reliable.
As we already said above, we were subject to the now famous good looking website scheme, where scammers invest a lot of money in making their websites look as good as possible. With this feature they are able to trick a lot of customers, making them believe that they offer quality services. Unfortunately, many traders have fallen for this scheme. The follow up of this scheme you already know, how they always shut down within months and rebrand to start the whole process over because too many people started to become aware of their scam.
Not only was the good looking website scheme present, but the TradeFW scam was able to hide from us at the beginning with quite a lovely sight of transparency from the broker. The fact that they immediately disclosed information about their regulator, worked its magic on us because we haven’t even seen reliable brokers do this. Don’t say that we do not give credit where credit is due, we encourage all the other brokers to take this example about transparency actually.
Trying to contact TradeFW Forex broker
The 21st century can be a rough time to have a company. In the past, many of the present features were non-existent therefore making the whole process of making a company a lot easier than it is today. Today a lot of funds need to be gathered even before starting the whole operations and most of those funds go to marketing. The sole reason that companies market themselves is to be more trusted, be more accessible and of-course be more popular. The TraedFW fraud was pretty apparent when there were absolutely no traces of any kind of marketing to the general public. Their accessibility is nearly non-existent and there are no social media pages to speak of.
The best Forex brokers have already learned from major corporations that a good marketing strategy can bring in more customers than a good service strategy. Unfortunately, that is the case in this day and age. Therefore it is quite weird to see a Forex broker disregarding such an important aspect of a company. Only adding to the suggestion that they want a less interactive marketing strategy like web-page adds and emails.
TradeFW withdrawal system
The withdrawal system that TradeFW offers to its customer is quite disappointing actually. You might get confused because most brokers offer the 24-hour processing system. However, what’s important to note is that all the brokers who actually offer 24-hour processing system are actually reputable good brokers, who have more than 1 million trading accounts open on their platforms. This all means that those brokers need to process hundreds of thousands sometimes millions of requests per day, therefore making their 24-hour service justified. But when it comes to a small brokerage like TradeFW, it’s a bit lackluster and slow. Also, it is important to note that Credit/Debit card and bank withdrawal requests take more than 5-7 days to process. We know that those requests take a lot of time, but as we already mentioned other brokers manage to do it within 3-4 days.
TradeFW withdrawal system is fixed. The reason we believe that this is not so good is that of the problems that lower caliber traders can face. If you are a small time trader and rely on the platform for a very small amount of income. Then you will be distraught to hear that the commision is 5 EUR making you refrain from constant withdrawals, keeping you on your position and making it more risky for you to withdraw in big chunks.
What can you trade on TradeFW?
Not that much to be honest, the broker only offers you Forex and CFD trading. The best brokers we’ve seen always have a lot of variation so that you can make your own choice what you want to trade. Most of the times they have 6-7 assets. This not only helps to give you a choice but also gives you the chance to diversify your portfolio.
Even though MT4 is losing popularity with the traders, TradeFW still opted to take its platform there. However, we must give credit where credit is due and say that we are happy they have more than 1 option and also feature WebTrader for their platform.
Summary of the review
TradeFW Forex broker is a very transparent broker indeed. However, even that transparency was not enough to hide the fact that they are a scam. It’s even relevant to say that heir very scheme doomed them. Their style of transparency really made their shady nature shine through. We advise you take a good look at their website on your own free time. But before you do, make sure to re-read this review in order to be on the right track. After visiting the website hopefully, you will be able to form your own opinion. Please leave a comment about your past experience with this or any other scam broker and good luck with your next endeavor.