There are no regulatory bodies listed on their website. There’s a big red flag there! You should avoid working with them based on that alone. Their collaboration with “Automated trading software”-related websites is another warning sign because these sites are notorious for scams.
Therefore, Expert Trader is another unregulated forex broker, leaving customers without protection. They will also likely escape with your hard-earned money because there is no regulatory body to hold them accountable.
Status of the broker: Unregulated scam broker
It is registered by: An Unlicensed company (no regulation)
Websites of the scammer: expertforextrades.com
Forex trading scam: active
Scam listed by: N/A
Owner of the broker: N/A
Country of headquarter: N/A
Year of foundation: N/A
Platforms for online trading: N/A
Trading on mobile devices: not active
Deposit minimum: unknown
Bonuses on deposits: available
Trading crypto assets: not available
Trading CFDs is an option: yes! You can trade CFDs
The following trading instruments are available: currency pairs (FX), indices and commodities
Leverage maximum:1:500
No Islamic account is public.
Unfortunately, demo accounts are not available for free.
US traders are not accepted: US traders are not accepted
This broker is a scam! Could you not invest in it?
How do they operate?
An unlicensed forex broker typically operates as follows. Their goal is to convince them to make the initial minimum deposit by calling them and using every tactic they can think of. They will make outlandish promises such as, “We’ll quadruple your initial deposit,” or “You’ll easily make $100 per day.”
Don’t believe them! There is a scam going on here! As soon as users make the initial deposit, they are transferred to a “retention agent,” a more cunning con artist who tries to defraud them of more money.
Withdrawal of money
An unlicensed broker cannot guarantee the security of your money, so you should withdraw your funds as soon as possible. It gets complicated at this point.
If you wish to withdraw money, they will delay the process for months regardless of whether you have earnings. If you wait six months to file a chargeback, your money will be permanently lost.
Even if you repeatedly remind them or insist on getting your money back, you will not get it back. A Managed Account Agreement, or MAA, also forfeits all of your money if you agree to it, which gives them complete control over your account.
How can you recover your money?
If you have already deposited your money with them and they refuse to return it, which is quite likely to happen, there are a few techniques you can use to get it back. You must save your emails in order to prove that they have refused to refund your money or delayed the process unnecessarily. Chargebacks are the first thing you should do! Don’t delay! Act now!
Having been duped into depositing with an unlicensed trading company, the company refuses to refund your money. Despite being the simplest way to get your money back, this method also causes the company the most damage. If there were several chargebacks, the relationship between them and the payment service providers would be destroyed.
Website Popularity
Traffic to Expertforextrades should be very low or nonexistent in Alexa.The website has a traffic rank of 0 in comparison to millions of other websites according to Alexa data. According to Alexa, websites are ranked according to their perceived popularity.
Websites with a rank under 500.000 should receive a lot of traffic since a low rank indicates good traffic. An Alexa rank of 0 indicates that Alexa doesn’t have enough information about a website. It is important to keep in mind that the rank may not be exact.
