Is TraderVesta Legit or a Scam?
No, TraderVesta is not a legitimate firm. They are not regulated or registered with any regulatory authority. They have cloned some legal documentation from other websites and did not show any other information for their authenticity. Read further to know more about this scam broker.
What is TraderVesta?
TraderVesta presents itself as a reputable, established platform that offers advantageous trading circumstances. But it didn’t take long to spot the clever disguise and realize that this website was a complete scam.
The fraudulent supplier pilfered the name and trademark of a well-known brokerage company, Ava Trade!
The trading platform offered by TraderVesta is a comparatively straightforward web-based trading terminal that supports well-known trading products like equities, cryptocurrencies, indices, commodities, and Forex currency pairs.
Even with the deceptive website’s slick advertising, the platform’s design is quite boring and just has a few simple graphs, charts, and indicators. You are not able to use the platform for a free trial period because it does not have any advanced tools or demo accounts.
As we previously indicated, TraderVesta’s maximum leverage is capped at 1:1000, which is substantially more than the legal maximum that is in place in some nations. High leverage can increase both possible gains and losses.
Since scammers are notorious for collecting oblique fees, it seems dubious that the spreads and commissions—that is, the trading costs—were not revealed.
Additionally, the broker gives out bonuses to clients—bonuses that are, incidentally, illegal in Europe. However, there are conditions tied to these annoying “incentives”.
TraderVesta Details
Regulated by: | Unregulated Scam Broker |
Is This Company Safe? | No |
Known Websites: | |
Have Warnings from: | N/A |
Registered in: | N/A |
Operating since: | 2023-05-03 |
Trading Platforms: | WebTrader |
Maximum Leverage: | 1:1000 |
Minimum Deposit: | 250 USD |
Deposit Bonus: | 25%-100% |
Trading Assets: | Forex, Indices, Stocks, Commodities, Cryptocurrencies |
Free Demo Account: | Unavailable |
How to Withdraw from This Company? | From the previous history of their payout, it is clear that they will never pay your amount. If this happens to you, please contact us. |
Deposits and Withdrawals
TraderVesta advertises various deposit methods, including credit cards, e-wallets, and bank transfers. However, user reviews paint a grim picture of withdrawal difficulties. Many allege experiencing delays, exorbitant fees, or outright denial of withdrawal requests, leaving their funds trapped in the platform’s clutches.
Account Types
TraderVesta offers six account tiers with varying minimum deposit requirements and spreads. While higher-tier accounts promise tighter spreads and additional benefits, they can also lock in larger sums of money, increasing the potential for losses in case of a scam.
Account Type | Basic | Silver | Gold | Platinum | Diamond | Premium |
Minimum Deposit | 250 USD | 10,000 USD | 25,000 USD | 50,000 USD | 100,000 USD | 250,000 USD |
Maximum Leverage | 1:100 | 1:100 | 1:200 | 1:400 | 1:500 | 1:1000 |
Spreads | N/A | N/A | N/A | N/A | N/A | N/A |
Deposit Bonus | N/A | 25% | 33% | 50% | 75% | 100% |
Red Flags and Warning Signs
As previously mentioned, the legal documentation asserts that AvaTrade is the brand behind the TraderVesta investment platform. On this reputable company’s website, TraderVesta is not mentioned at all. It’s a crafty ploy to fool gullible traders.
Since the broker does not have a license to offer Forex trading services, there is a chance that all of the platform’s users could be duped.
Customer Complaints and Negative Reviews
A closer look at independent review platforms reveals a deluge of negative experiences with TraderVesta. Users complain of:
- Unresponsive customer support: Attempts to reach customer support often meet with silence or unhelpful generic responses.
- Manipulation of trading platforms: Accusations of manipulated spreads and price feeds designed to favor the broker are common.
- Difficulties with withdrawals: Numerous users report encountering obstacles and delays when attempting to withdraw their funds.
Got Scammed by TraderVesta? We Help Victims!
If you’ve fallen victim to TraderVesta’s deceptive practices, you’re not alone. Fortunately, resources are available to help recover lost funds and hold the platform accountable. Consider contacting:
- Financial regulators: Report your experience to the relevant financial regulator in your jurisdiction.
- Fraud reporting agencies: File a complaint with the Federal Trade Commission (FTC) or other relevant fraud reporting agencies.
- Chargeback services: If you used a credit card to deposit funds, contact your bank to initiate a chargeback.
Remember, if you need quick and professional guidance and help, you can contact us. You will get a free consultation and recovery service recommendations to help you recover the lost funds.
If you’ve experienced financial losses with companies like Xaebit, RiveGarde, or Plexmoon, please report it using the form below.
