Turbine Trade Ltd. is a forex broker that claims to offer a variety of trading services, including CFDs, forex, and cryptocurrencies. However, there are a number of red flags that suggest that Turbine Trade Ltd. is a scam broker.
Company Overview
Turbine Trade Ltd. is a company registered in the Seychelles. However, the company does not have any licenses from any reputable financial regulatory authorities. This is a major red flag, as regulated brokers are subject to strict rules and regulations that help to protect their clients.
Does Turbine Trade Ltd. Have Any License?
No, Turbine Trade Ltd. does not have any licenses from any reputable financial regulatory authorities. This is a major red flag, as regulated brokers are subject to strict rules and regulations that help to protect their clients.
Is Turbine Trade Ltd. Regulated By Any Authority?
No, Turbine Trade Ltd. is not regulated by any authority. This is another major red flag, as regulated brokers are subject to oversight by a governing body that helps to ensure that they are operating in a legitimate and transparent manner.
Pros and Cons
Pros:
- The minimum deposit is low.
- The trading platform is user-friendly.
- The spreads are competitive.
Cons:
- The broker is not regulated by any reputable financial authority.
- There are a number of negative reviews about the broker online.
- The broker has been accused of being a scam.
How Does Turbine Trade Ltd. Reach To Their Prey?
Turbine Trade Ltd. targets its victims through a variety of channels, including social media, online ads, and cold calling. The broker often promises high returns with little risk, in order to lure victims into opening an account.
Technical Details
Minimum Deposit:
The minimum deposit for a trading account with Turbine Trade Ltd. is $250.
Trading Platform:
Turbine Trade Ltd. offers the MetaTrader 4 trading platform. MT4 is a popular and well-respected platform that is used by traders around the world.
Spread:
The spreads offered by Turbine Trade Ltd. are competitive. The average spread for the EUR/USD currency pair is 1.0 pip.
Leverages:
Turbine Trade Ltd. offers leverage up to 1:500. This means that a trader can control a position worth $500 with a deposit of only $10. However, it is important to note that high leverage can magnify losses as well as profits.
Packages and Products They Offer
Turbine Trade Ltd. offers a variety of trading packages, including a standard account, a VIP account, and an Islamic account. The standard account is the most basic account type and offers the lowest spreads. The VIP account offers lower spreads and more features, such as access to a dedicated account manager. The Islamic account is designed for Muslim traders and does not charge swap fees.
Withdrawal and Deposit Method
Turbine Trade Ltd. offers a variety of deposit and withdrawal methods, including credit cards, debit cards, wire transfers, and e-wallets. The minimum withdrawal amount is $250.
What Do Their Previous Traders Say?
There are a number of negative reviews about Turbine Trade Ltd. online. Many traders have complained about the broker’s withdrawal delays, hidden fees, and poor customer service.
Summing Up- Why Should Not You Trust Turbine Trade Ltd.
There are a number of reasons why you should not trust Turbine Trade Ltd. The broker is not regulated by any reputable financial authority, there are a number of negative reviews about the broker online, and the broker has been accused of being a scam. If you are looking for a legitimate forex broker, I recommend that you avoid Turbine Trade Ltd.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money to a scam broker like Turbine Trade Ltd., you may be able to get your money back with the help of a professional recovery service. These services have a proven track record of helping victims of investment fraud recover their losses.
File A Complaint Against Scam Broker's
Final Thoughts
Turbine Trade Ltd. is a scam broker that should be avoided. If you are considering trading with this broker, I urge you to reconsider. There are many legitimate forex brokers that offer a safe and secure trading environment.
I hope this article has been helpful. If you have any further questions, please do not hesitate to ask.
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