Trade Union: broker reviews, terms analysis

• Categories: Forex

Trade Union: rating and reviews overview

Trade Union offers transparent conditions for both beginners and experienced traders. Company representatives actively invite everyone interested to invest in international markets and earn significant profits. Let’s explore how Trade Union ensures high-quality trading and what reputation the company has already earned.

Broker’s development history and experience

The broker calls itself a global leader, but finding evidence to support this claim is difficult. The online space provides scarce information about the broker, and the organizers only focus on basic aspects. It is known that the brand and website are managed by Incendiary Group LTD, registered in the Dominican Republic.

The parent company has been operating on the market for about a year, registered in April 2021. The broker has not been around for long — judging by the renewal of the domain name, Trade Union services have been available for just a few weeks. Becoming recognized as a global leader in such a short time is virtually impossible. Organizers try to cover up the truth with statements about fictitious success, concealing the true face of a scam that has nothing to do with real trading. The lack of feedback from foreign traders indicates that the scheme is targeting Russian-speaking clients.

Trade Union is absent from social networks, the company has no communication channels with clients, not even an office. The parent company is registered through an intermediary, and the real owners remain in the shadows. This indicates that scammers deliberately hide their identity.

Regulation of Trade Union’s activities

The choice of Dominica for registration is not accidental. It is not only an offshore jurisdiction with favorable conditions but also a place where broker licensing is not required. The state regulates and issues licenses only to banks; other companies only undergo registration procedures and then operate freely without significant restrictions or controls.

The lack of regulation indicates the illegality of the broker’s activities, which, before starting operations, for example, in the Russian market, must obtain permission from the Central Bank. Such approval cannot be obtained within a month, so it is clear that Trade Union is operating unlawfully. In addition, Incendiary Group LTD has repeatedly received warnings from the regulator for creating fraudulent schemes.

PrimeCapital, Meteor Trade, and InfluxFinance — all these companies are fictitious brokers who scammed clients under the guise of money trading. Numerous negative reviews confirm this. The websites of these companies have already been blocked, but Trade Union has taken their place.

Trading conditions in Trade Union

To attract beginners, fraudsters offer practice on a demo account without investments. However, the period of this offer is limited, and then it is necessary to open a real account and deposit funds. Trade Union offers four account types:

• Newbie ($250). Leverage 1:200, minimum trade 0.01, maximum trade 15, stop-out 10%,
• Standard ($2500). Conditions are similar to the previous account, with the only difference being the maximum trade of 20,
• Gold ($7000). Additional instruments, auto-trading, various orders. Maximum trade volume 50, stop-out 20%,
• VIP ($15,000). Reduced leverage (1:100), access to daily signals, and market analysis.

Clients are promised no deposit fees, protection against negative balances, and access to educational materials. Trading is done through the WebTrader terminal, with mobile and web versions available. Trading assets include currencies, commodities, metals, stocks, and indices.

Reviews and rating of Trade Union online

Due to the recent establishment of the company, there are few reviews about its operations. We found only a few comments.

The publication dates indicate the freshness of the reviews, indicating that fraudulent activities are just starting to unfold.

”Deposit drain” techniques in Trade Union

Under the guise of trading on financial markets, a pseudo-broker conducts a scam, essentially without performing real operations. Clients are offered a spectacle with a terminal simulator where data is adjusted by fraudsters. The scam deflects responsibility for accurate quotes onto liquidity providers, but in reality, prices are manipulated in favor of the scammers.

Increased leverage and bonuses are offered to clients to accelerate the drain of deposits. Thus, fraudsters lead their clients into a debt trap, as the increased margin guarantees significant losses during small market fluctuations. The personal manager only accelerates this process.

According to reviews, after losing all funds, scammers start threatening clients and demanding payment for bonus funds, insurance, and taxes. Solvent investors are offered to reinvest with a larger sum under the promise of improved conditions.

Pseudo-brokers actively use cryptocurrencies for transactions, making fund recovery nearly impossible. Turning to law enforcement agencies proves futile as it is practically impossible to apprehend the masterminds of the fraudulent scheme.

Why you should avoid opening an account with Trade Union

Trade Union is an unlicensed scam created by fraudsters. The company authorized to manage the brand has repeatedly caused damage and is on the Central Bank’s blacklist. Reviews online about experiences with Trade Union are extremely negative, with victims losing all their investments.