Tokens Note Review: Who Is Tokens Note Broker?
Tokens Note broker is owned by Amanda Group LLC, which has its headquarters in St. Vincent and the Grenadines. This offshore jurisdiction is notorious for harboring many fraudulent CFD brokers. It’s one reason why you should avoid any firm residing there.
Another major red flag for Tokens Note is that they are not subject to any regulation, which means they are not affiliated with any regulating agency that ensures customer protection. This is why you should not entrust your money to them.
|Company||Amanda Group LLC|
|Address||1st flr., 1st St. Vincent Bank LTD Building, James Street, Kingstown, VC0100, Saint Vincent And Grenadines|
|Leverage||1:100 to 1:500|
|Trading Bonus||Up to 100%|
Regulation and Security of Your Funds at Tokens Note
Many Tokens Note reviews show that this broker is an unlicensed financial institution. This untrustworthy, shady brokerage is likely to swindle your money. Since there is no oversight body to hold them accountable, they may quickly get away with this scam.
In terms of regulation, they do not adhere to the laws and regulations that control authorized Forex brokers. Because of this, they have no limitations on what they may do or impose, making it simple for them to steal your money.
Tokens Note cannot protect your money and doesn’t care to do so. There is no guarantee of where your deposits will go because this firm has no obligation to keep clients’ funds in segregated accounts.
The fact that this firm is unregulated is sufficient evidence that your funds won’t be secure in their hands.
Tokens Note Trading Platform Review
As expected from an unregulated scheme, Tokens Note didn’t try and provide customers with a reputable trading platform. Instead, all you can get is access to a basic WebTrader.
Some rudimentary features include trading history, 3 chart types, and 10 indicators. Far behind other platforms with over 30 technical indicators and in-depth analysis tools.
Be on the lookout for bogus brokers and always check out the trading software. Legitimate brokers usually offer reputable platforms, such as MetaTrader4 and MetaTrader5, with many trading tools.
Available Trading Accounts at Tokens Note
You may select one of the five trading accounts offered by Tokens Note. Each account category offers more significant Tokens Note bonuses while lowering the spread.
The five Tokens Note trading accounts are the following:
- Classic Trading Account – Forex leverage of 1:100.
- Silver – Forex leverage of 1:100, up to a 10% bonus.
- Gold – Forex leverage of 1:200, up to a 30% bonus.
- Platinum – Forex leverage of 1:400, up to a 50% bonus.
- Premium – Forex leverage of 1:500, up to 100% bonus.
Deposit and Withdraw Methods For Tokens Notes
Tokens Note accepts a variety of deposit and withdrawal methods, including the following:
- Wire Transfers
- Debit and Credit Cards
- UnionPay E-Wallet
A minimum withdrawal amount is set to be $50. However, withdrawing your funds will take forever since the broker has the tools to delay the process. Whether you’ve profited or not, they’ll do everything to keep your money on hold until you cannot get it back anymore.
Tokens Notes Broker Offers Initial Deposit Bonus
Tokens Note offers an initial deposit bonus depending on your chosen account type. According to their website, here are bonuses you can get:
- Classic Account – No bonus
- Silver Account – up to a 10% bonus
- Gold Account – up to a 30% bonus
- Platinum Account – up to a 50% bonus
- Premium Account – up to 100% bonus
Note that there’s a clause stating that you cannot withdraw your funds before reaching the specified volume. However, there are no specifications, meaning it’s left for the broker employees to decide on how much they want to delay you.
Here’s a Look at How The Scam Works
Scammers are experts at getting victims to invest. They will first persuade you to make a small investment before pursuing a more significant commitment. These con artists will attempt to contact you repeatedly via phone calls, emails, and other available means.
They will present you with tempting offers that could seem too good to be true to capture your attention. Once lured, you will be pressured to keep investing.
If you wish to withdraw your profits, it can be challenging to reach them. Some strategies include warning you about a rapid change in the market or insisting that you pay fees before receiving your money.
These brokers, including here Tokens Note, will make up various excuses to justify the delay in your withdrawals. In the end, the firm will vanish, and so will your money.
Forex Brokers That Come Highly Recommended
Make sure to conduct thorough research on the broker you are considering before spending any money. Always make sure you trade and invest with a reputable, regulated broker. That’s the only way to ensure fund safety.
You may rely on a few regulated brokers as they have Tier 1 regulations.
|FXTM Broker||Cyprus, UK, Mauritius, Kenya||4.5||$10||Forextime.com|
|OctaFX Broker||St. Vincent and the Grenadines, Cyprus||4.4||$100||OctafX.com|
|FP Markets Broker||Australia, SVG||4.7||$100||Fpmarkets.Com|
|XM Broker||Cyprus, Australia, Belize||4.7||$5||XM.Com|
|HFM HF Markets Broker||Saint Vincent and the Grenadines, South Africa, Cyprus||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Australia, Belize||4.85||$1||FBS.Com|
Tokens Notes Summary
To summarize everything stated above, we will say one thing – stay away from the Tokens Note trading scam. This firm is based offshore, has no financial regulations, and your funds are at risk. In addition, trading terms are unfavorable, there is no specified minimum deposit, and the broker offers a basic WebTrader.
You can be lured into fraud by bonuses and other incentives, but be wary that you will not be able to withdraw your funds upon accepting them.
If you find yourself a victim of an online trading scam, don’t hesitate to report it. Despite how devastating it may be, it’s the only way to stop fraudsters and recover your funds.
FAQs About Tokens Notes Broker
What Is The Tokens Notes Minimum Deposit Amount?
Tokens Note never specified the minimum deposit, meaning broker employees can decide on it.
What Are The Trading Instruments Available at Tokens Notes?
Customers can trade in all five major markets, including Forex, commodities, indices, shares, and cryptocurrencies.
What Account Types Does Tokens Notes Offer?
There are five account types: Classic, Silver, Gold, Platinum, and Premium, differing in leverage and services.