CHILL-Trade offers its services in the field of trading and promises to help increase your capital. According to statements, over the past few years, the minimum profit level has been 23%, and the number of active accounts exceeds 6,500 since its launch in 2019. At first glance, these figures seem impressive. However, when we paid attention to real customer reviews, it became clear that the situation may not be as bright. Let’s consider how reliable the company’s claims are and how things stand with its activities.
Brief overview of CHILL-Trade
CHILL-Trade positions itself as an international company, but only the Russian-language version of the official website is available. This may indicate that the company is primarily focused on the Russian audience.
According to the information on the website, the company has been operating for three years, with a total deposit volume of $753,231. However, an analysis of the domain history revealed that this information does not correspond to reality. The site has been in existence since November of last year, which also coincides with the appearance of reviews about the company.
No information about the company’s owners is provided on the website, which may raise concerns. This is usually done by fraudulent organizations posing risks to clients’ finances.
The company is absent from social networks, does not provide an opportunity for constructive dialogue with customers, and does not engage in managing negative information. This may indicate the presence of hidden aspects of its activities.
Additionally, the verification revealed that the phone number provided by CHILL-Trade also belongs to the fraudulent organization BNB-Profitup, raising serious doubts.
According to the information provided, CHILL-Trade has two offices – in the USA and Russia. However, it turned out that the addresses of these offices do not match the stated ones, which may increase the level of distrust towards the company. Moreover, the only way to contact support is via email, but according to user reviews, this email is used for collecting personal data and potential fraud.
Legal aspect
CHILL-Trade claims to operate within the law and fulfill its obligations honestly. A scan copy of the incorporation certificate (document #27818478) is presented on the website. However, the verification showed that this company does not exist.
Furthermore, the statement about regulation by CySEC also turned out to be untrue. The regulator has no information about the existence of this broker.
Considering the lack of information on the website in other languages, as well as the presence of negative reviews about CHILL-Trade, Russian traders should exercise caution. The company does not comply with the requirements of Forex law 460-FZ, as it is not registered as a legal entity in the Russian Federation, nor does it have permission from the main regulator – the Central Bank of Russia.
Trading conditions
The company offers the opportunity to practice on a demo account, but according to reviews, this may be part of a mechanism to attract clients for subsequent deception.
Users have access to three types of accounts, with different conditions such as: initial deposit from $250 to $10,000, withdrawal of funds within a day, personal manager, bonuses from 30 to 120%, no withdrawal commission on the “ELITE” account, training services, and analyst consultation.
However, information about spreads, leverage, swaps, and fund deposit/withdrawal procedures remains unclear. Regulated payout deadlines are also not specified, only payment system widgets are provided. According to reviews, the platform is likely focused on fund deposits.
Client reviews
All reviews left by clients have a negative tone. Traders express dissatisfaction with cooperation with the company and accuse it of fraud.
Fraud mechanism
The company offers bonuses to all registered platform users, which can be used to retain clients and deceive them. Bonus playthrough conditions turn out to be complex, leading clients to financial difficulties. According to traders’ reviews, the platform does not execute real market trades, and the likelihood of earning with CHILL-Trade turns out to be zero.
Independent review summary
CHILL-Trade may present itself as a profitable trading partner and promise profits, but the company’s real goal may be to attract newcomers and enrich itself at the expense of clients. The company operates without a license, and its reliability remains questionable. This sham intermediary has no interest in the well-being of clients, only in filling its pockets with others’ funds. If you have anything to add to our review, please share your feedback below the article. Tell the truth to others!
