Grand Trade scam broker: review and customer feedback
**Broker Review Grand Trade: Analysis and Customer Reviews**
Grand Trade is a CFD broker that promises its clients full transparency of operations, individual approach, and work on a unique trading platform. However, recently, more and more complaints about this intermediary have been appearing online, up to accusations of fraud. To understand the truthfulness of these claims, it is necessary to conduct a detailed review of Grand Trade’s activities. Based on information from the official website and customer reviews, we will determine whether it is worth dealing with this broker.
Broker Details
Initial verification of Grand Trade’s documents and information revealed some inconsistencies and ambiguities. For example, the client agreement and the website indicate that the broker belongs to Oracle Stone Ltd., registered in London, yet the license points to registration in the offshore zone of Belize. Additionally, the license information is not confirmed on the IFSC regulator’s website. Furthermore, addresses associated with Grand Trade raise suspicion, as reputable brokers usually do not conceal their data.
The absence of contact information to reach the company on the website before opening an account also raises questions.
Trading Conditions
Grand Trade offers its clients to use CFDs on more than 100 assets, including currency pairs, stocks, and commodities. The minimum deposit to start trading is 250 USD. There are several types of trading accounts, including a demo account.
The website claims to have over 100 deposit methods, but customer reviews point out restrictions on fund withdrawals, with only bank transfers available. Information on fund withdrawals is also contradictory, raising doubts.
Customer Reviews
Customer reviews of Grand Trade indicate difficulties with profit withdrawals, high commissions, taxes, and other issues. The negative feedback is exacerbated by the quality of the trading platform, frequent glitches, and slippages.
No positive reviews of the broker were found.
Scam Essence
Grand Trade uses various methods to retain clients’ funds, including tax extortion, high commissions, and penalties. Clients face problems withdrawing profits due to conditions that make it nearly impossible.
Conclusions
Grand Trade is not recommended for use due to unclear information, lack of documents, negative reviews, and potential fraud. Be cautious when choosing a broker!
Author: Sasha Chaika