Tradeviewforex Review: Is This Platform Reliable For Trading?

Tradeviewforex is an offshore trading platform based in the Cayman Islands. The company running this business is called Tradeview LTD. Although the platform is regulated by the Cayman Islands Monetary Authority (CIMA), it doesn’t mean that issues cannot appear.

We have analyzed the Forex side of this broker in our Tradeviewforex Review to explain why this platform may not be the best choice for trading.

What You Should Know About Tradeviewforex

Tradeview forex is just one of this company’s ventures. It focuses on Forex trading and offers three platforms. The other branch is based on Stock trading and features additional platforms.

The Tradeview brand is also present around the world via subsidiaries – Tradeview Europe Ltd, Tradeview Asia Ltd, and Tradeview Financial Markets S.A.C. Global. Our review will focus on the Forex branch of this company (tradeviewforex.com).

Regulation Info

We’re beginning to sound like a broken record but Tradeview ltd is a company based in the Cayman Islands, i.e. an offshore domain. The reason why this is important is that offshore regulations are not credible enough compared to onshore trading laws.

This is Forex trading specifically as the stock branch is authorized by the Maltese FSA. So is Tradeviewforex Legit? There is a huge difference between the requirements for brokers between offshore and onshore domains. Tradeviewforex com is obviously not compliant with the regulations in force in Europe and Canada.

It can be seen from the warnings we found issued against this broker. On October 30, 2017, the Spanish cnmv stated that this platform is not authorized to provide services in that country. 

Since the CNMV implements the regulations of the European Securities and Markets Authority (ESMA), it means that Tradeviewforex cannot provide Forex trading services anywhere in the EEA zone. We also found a warning issued by the Alberta Securities Commission (asc). It means that this Forex platform is not welcome in Canada either. 

Top-tier regulators such as the FCA (UK), CFTC (US), ASIC (Australia), CySEC (Cyprus), CNMV (Spain), etc. require brokerage companies to possess a significant minimum operating capital (i.g. 730,000 EUR or 1,000,000 AUD), offer clients negative balance protection, segregated funds, and even a compensation scheme (i.g. up to 20,000 EUR in Europe).

Tradeviewforex Profile

Tradeviewforex offers three cutting-edge trading platforms for Forex – MT4, MT5, and cTrader. Each with a unique set of tools, these platforms offer neat features such as automated & algorithmic trading, live market reports, advanced charting, lightning-fast order execution, API integration, etc.

Traders can download the Tradeviewforex Platform on Android and iOS systems and trade on the go. When it comes to trading instruments, Tradeviewforex offers Forex currency pairs, cryptocurrencies, and CFDs on indices and commodities. For stock trading, there is a separate branch also accessible on the broker’s website. It also features more platforms.

Tradeviewforex Trading Account Types

Here’s an overview of the Tradeviewforex account types:

• Innovative Liquidity Connector:
  • Minimum deposit of 1,000 USD;
  • Leverage up to 1:100;
  • Spreads from 0 pips;
  • Commissions 5 USD per lot;
  • 100 instruments.

• X Leverage Account:
  • Minimum deposit of 100 USD;
  • Leverage up to 1:400;
  • Competitive spreads;
  • Zero commissions;
  • 100 instruments.

The maximum leverage ranges from 1:100 to 1:400, which is extremely high and in most cases, results in huge losses. Offshore companies are known for offering such high leverage. As for the trading conditions, Tradeviewforex offers pretty competitive spreads and favorable commissions.

However, favorable trading conditions are one thing, operating under a lax jurisdiction is another. If you are still interested in this broker, please try out the demo account first without risking real money. 

Is This Broker Safe?

For all the reasons we mentioned above, Tradeviewforex cannot be considered a safe brokerage company. There are many negative trader reviews that support this argument.

The obvious source of all issues is offshore regulations which are simply not synonymous with a safe trading environment. An example of an offshore hoax that comes to mind is grand-capital. Other reasons include withdrawal issues and extremely high leverage. There are many other more reliable brokers.

If you lost money to Tradeviewforex, we can help you recover it. Book your free consultation with us today.

Trader Reviews – Sharing Experiences

Currently, Tradeviewforex has a total of 340 reviews on trustpilot.com with an average score of 4.0 (great). However, every here and there you can see a complaint about the broker’s business, as was the case with zetano. 

The broker’s reputation is under fire on other trading forums such as tradersunion.com and wikifx.com. Traders seem to be having withdrawal issues with Tradeviewforex. We will just report their reviews so that you get a better picture of the problems people are having.

Apart from giving widely inaccurate data, they refused to process my withdrawal telling me that my account is under investigation…

• Trustpilot user, June 9, 2023.

Tradeview does not display transactions on the interbank market. Everything spins in their company and goes straight into their wallet. Out of inexperience, I brought my money here in order to increase it, 6000 bucks, but nothing was left of them, unfortunately…

• TradersUnion user, February 15, 2023.

Despite of the abnormal quotation on crude oil and insufficient margin, the platform dealt my 2 orders at the time, causing all losses!

• WikiFX user, April 21, 2020.

How the Tradeviewforex Platform Reaches Clients and Who Are They?

According to godaddy.com/whois, the Tradeviewforex website domain was created on November 15, 2007, a year after the company was founded. Since then, the broker’s Forex services have received negative backlash mainly from traders residing in the following countries:

• US;
• India;
• Kenya.

There are many more countries where Tradeviewforex was active but the most “shady” activity was recorded in these three. The data on similarweb.com shows a dramatic drop in the number of visits to the broker’s website between April (100k) and June (62k).

Tradeviewforex is pretty active on social media. We are talking about LinkedIn, Facebook, Instagram, and Twitter. There are multiple ways of communication with the broker, including several phone numbers, emails, and a web form.  

Deposits and Withdrawal Methods

The Tradeviewforex minimum deposit is 100 USD, which is acceptable and in line with what other popular brokers would charge you. As for the payment methods used for depositing and withdrawing funds, Tradeviewforex included a wide range of options:

• Wire transfers;
• Credit/debit cards (Visa, MasterCard)
• E-wallets (Skrill, Neteller, UnionPay, etc.);

The same method that was used to deposit funds is usually required to execute withdrawals as well (basic AML policy principle). According to the Terms and Conditions, funded accounts that remain “inactive for a period of six (6) months will be charged an inactive account fee of $50.00 USD.”

Reasons To Avoid This Company

Nobody likes reading negative reviews about withdrawal issues in connection with the platform they are interested in. That is a legit reason to avoid Tradeviewforex. One trader even claims that the broker does not segregate funds. 

The offshore domain is another argument for why this platform is not reliable. There is no compensation scheme in the agreement clause, meaning that you’re sitting duck on the harsh offshore tides. It seems that the Forex platforms are susceptible to malfunctions.  

Having withdrawal issues with Tradeviewforex? We can help you retrieve your funds.

Our Safe Trading Experts’ Opinion on Tradeviewforex

To sum up, Tradeviewforex is an offshore broker based in the Cayman Islands and regulated by the CIMA. This broker has been active since 2006, offering Forex, CFD, and stock trading services mainly to traders from the US, India, Kenya, Japan, etc.

We do not recommend you trade on this platform. Many traders have complained about malfunctions and withdrawal issues. Furthermore, you are not entitled to compensation. If you’re having problems recovering your money from Tradeviewforex, please book a free consultation with us.

In order to reverse your transaction, you need to request a chargeback at your issuing bank within 540 days. Our team will gladly explain how the chargeback process works and guide you through the entire procedure. 

Book your free consultation today and start the chargeback process.

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