If you are looking for a reliable and trustworthy broker to trade forex and CFDs, you might have come across Traderhouse Broker, a UK-based company that claims to offer exceptional trading conditions and security. But is Traderhouse Broker a scam or a legit broker? In this blog post, we will review Traderhouse Broker and its services, and help you decide if it is worth your time and money.
What is Traderhouse Broker?
Traderhouse Broker is a forex and CFD broker that was established in 2022. According to its website, Traderhouse Broker is run by a team of elite industry professionals with decades of experience in the financial world. The broker claims to be authorized in various jurisdictions around the world, but does not specify which ones. Traderhouse Broker offers a proprietary trading platform, a wide range of assets, including cryptocurrencies, indices, and stocks, and leverage up to 1:500. The broker also offers managed accounts, where its trading analysts will manage your investment based on your goals and risk preferences.
Is Traderhouse Broker regulated?
One of the most important factors to consider when choosing a broker is regulation. Regulation ensures that the broker follows certain rules and standards to protect its clients’ funds and interests. A regulated broker must comply with the requirements of a reputable regulatory authority, such as the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) in the EU, or the Australian Securities and Investments Commission (ASIC) in Australia.
Unfortunately, Traderhouse Broker is not regulated by any of these authorities. In fact, we could not find any evidence that Traderhouse Broker is regulated by any authority at all. The broker does not provide any license number or registration details on its website. Moreover, the FCA has issued a warning against Traderhouse Broker, stating that it is operating illegally in the UK without authorization. This means that Traderhouse Broker is an unregulated and unlicensed broker that should not be trusted.
What are the risks of trading with Traderhouse Broker?
- You have no guarantee that your funds are safe and secure. Unregulated brokers do not have to keep their clients’ funds in segregated accounts, which means that they can use them for their own purposes or lose them in case of insolvency.
- You have no recourse or compensation in case of disputes or complaints. Unregulated brokers do not have to adhere to any code of conduct or dispute resolution mechanism, which means that they can ignore your requests or claims.
- You have no protection from unfair or fraudulent practices. Unregulated brokers can manipulate prices, spreads, execution, or withdrawals, or even refuse to pay out your profits.
- You have no access to independent oversight or supervision. Unregulated brokers do not have to report their activities or financial statements to any authority, which means that they can operate in secrecy and without transparency.
Conclusion: Is Traderhouse Broker a scam or legit?
Based on our research and analysis, we conclude that Traderhouse Broker is a scam broker that should be avoided at all costs. The broker is not regulated by any authority, has received a warning from the FCA, and has many red flags that indicate dishonesty and deception. Trading with Traderhouse Broker is risky and dangerous, and you could lose all your money if you do so.
If you are looking for a legit and reliable broker to trade forex and CFDs, we recommend that you choose one that is regulated by a reputable authority, such as the FCA, CySEC, or ASIC. These brokers have to follow strict rules and standards to ensure your safety and security. They also offer fair and transparent trading conditions, professional customer service, and access to various trading tools and resources.
What to Do If You’ve Lost Money with Traderhouse?
If you have been scammed by Traderhouse or any other broker, you’ll want to seek assistance from cryptocointrace.com immediately. Our experts will consult with you and bolster your claim to help you get your money back. Cryptocointrace.com is a leader in recovering your funds and will help you retrieve your funds from a broker scam.