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TradeFred.com Review Visit site

Updated: Aug 15, 2019
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2 REVIEWS
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About TradeFred.com

TradeFred is a forex broker. Trade Fred offers the MetaTrader 4 forex trading top platform. TradeFred.com offers over 45 forex currency pairs, indices, stocks, cfds, energies, gold and silver for your personal investment and trading options.

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2 REVIEWS
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Consumer Reviews

Sydney, Australia,
Aug 13, 2019,
Registered user

WARNING, TradeFred SCAM, if it isn't they are the worst Forex Broker

Service use: Live

Length of use: 0-3 Months

TradeFred provides you with a personal account manager who builds up your confidence in trading, based on their advice and by creating a number of small low risk trades that make good money then progressively ask for more and more capital. Based on this success you feel confident that they are providing good advice and will work with you to make a profit.
Once they have as much capital as they can get they place higher volume trades, that over commit your account in that a small reversal will cause a margin call, knowing that eventually you will lose your capital. Once they have lost your first investment, they again ask for more Capital, even matching dollar for dollar funds that can be used for trading by giving you a Credit! I added $US10K and they provided $US10K credit. Again TradeFred build up your capital with small low risk trades until they cannot get any more money from you and then trade so you lose, this time the only money left is their credit money, which they then remove and you have lost everything. The only way to get your money back is to put more money in, which they will match with credit again…. But can you trust them - NO!
Additionally, TradeFred does not provide a stop loss on trades, every trader forum or trade strategy document tells you must have stop loss, BUT NOT TradeFred!
TradeFred also tells you that they will only risk 1% of your capital…. This changes once they get you confidence and you have had a number of successful trades. They then place trades that overcommit your account, get you into Margin Call, ask you to provide more money into your account so you don’t get margin Call stopped out. If you don’t have any more money they tell you to “let it ride” “it will turn soon” “Don’t worry grow some balls!” Your account then is Maged Stopped out and you only have $10,000 left! If it's their Money they take it out and you have NOTHING!

The question can be asked is TradeFred deliberately providing bad advice so they take your capital without investing it in the Forex Market, or are they just providing poor advice! Possible scenarios:

Scenario 1 - It is a SCAM to take all my deposits, nothing is traded!
How do I know if TradeFred has placed any trades on the market? Could TradeFred have created a “demo like account” (a fake account) that appears to have my money in the account but it is really in their account not being risked on the market. We then traded using this fake account until there is nothing left and you walk away thinking you have lost your money but it has never been invested and TradeFred have your money? So if I walk away they have taken my $AU171,950, not traded anything and they take the lot!
IS THIS THE SCAM? HOW DO I FIND OUT?

Scenario 2 - TradeFred trading strategy is negligent and they mislead clients with no concern if they lose their money
TradeFred indicated their strategy was not to risk any more than 1% of the capital, yet they did this!
They also were negligent in not having a stop loss strategy. They did not set stop losses they let the trade run with the idea that having enough capital in the account the trade could ride the negatives until the market reached target profit level. Not setting stop levels is negligence, especially when combined with overcommitting the account.
A number of trades appear to have been taken against market news/ information and any analyst should have been aware that the risk was too high to take the trades, again reinforcing the idea that this is a scam!
The problem was that TradeFred was negligent in instructing me to open 3 trades 30 lots of OIL on 18/4 which meant that Lot 10 US_30e + Lot 10 UAXUSD + Lot 30 OIL (50 Lots) were all open at one time. They were negligent in advising me to open the oil because my portfolio balance was not capable of taking any reversal in these assets when combined with other losing trades..
From 18/4 to 2/4 US-30e + Gold + Oil all went negative into Margin Call and eventually margined out to leave the balance at US$9k, if there was a stop loss strategy then I would not have lost as much and could have continued to trade
During this time I repeatedly asked if we should stop out and Amos indicated that it was not their strategy and it will reverse, so hold on. When it went into Margin call I emailed Amos on 22/4 and 23/4 to contact me (multiple emails) and advice on stops. He did not respond or call me. My emails asked if I should stop out, with no answer. Without any advice I let the position run until the complete liquidation of my positions!
It appears to me as if they built my confidence up to a point where I would trade larger Lot trade amounts and I trusted their strategy advice because it had worked on other trades. They then had me place successive large lot sizes on different commodities that continued to cause a loss situation that eventually lost the whole balance. Amos also assured me it would turn so HOLD ON!
Additionally, I am not sure if any of these trades were ever placed on the Market! How do I know if TradeFred has not just pocketed the money I have deposited and simulated the trades to the point where I have lost everything?
If there was a stop loss strategy then the trades would have stopped out at smaller loss and saved my capital and I would not have been placed in a Margin Call position and my portfolio would not have been liquidated.
If Amos had not advised me to place such large Lot trades above their 1% risk as per there strategy and when other positions were already running negative then loss would not have been as large
When Trump announces removal of sanctions on Iran TradeFred Analysts should have advised me to stop out of losing trades to reduce losses
1 trader has found this review helpful
Kleksdorp, South Africa,
Jul 31, 2019,
Registered user

I am not getting my money back

Service use: Live

Length of use: 3-6 Months

I opened an account under the pretence that I get a free EA with a minimum deposit of $250.
I did so in March 2019, the EA did not perform and was actually losing money. I then stopped the EA and requested my (remaining, only $ 140) to be returned to me at beginning of July.
All I have experienced after contacting their support on 5 separate occasions since, was that there is a withdrawal request for me, but to date no money on account 1310218177 has moved.

Jul 29, 2019 - 1 Star I believe that I have given this company enough time and opportunity to respond and to act on my requests. TRADEFRED, apparently Australia based, yet all it's personnel speak with Greek accents (so they may have a Cyprus footprint) can now be listed as SCAMMERS.
Fortunately, my deposit was small as I tested them first. But if a company fails to act upon 5 requests left on their website and raise ticket numbers on enquiries, but do not respond on it, the are disingenuous. Period.
It is thus my recommendation that Traders stay away from this SCAM.

Mar 15, 2019 - 2 Stars Support is just unacceptably slow. For some strange reason their MT4 station from time to time asks for a one time password, which I do not possess. In trying to overcome this problem it took the 3+ days (as of this review) and for a live account that is simply unacceptable.
Support agent also had a manner of ignoring chats when the are found wanting on having to provide solutions.
Stay away!