Warning Investors tradingspace.pro – Regarding falsely claiming association with registered Australian businesses or financial services licensees and their authorized representatives.
Introduction:
Online trading can be a lucrative and exciting activity, but it also comes with risks. One of the biggest risks is falling victim to scam brokerages that lure unsuspecting traders with false promises and then steal their money. Tradingspace.pro is one of these scam brokerages. It claims to be a regulated and licensed entity, but it is not. In fact, it is a suspected imposter entity that uses the name and details of a legitimate company to deceive traders. ASIC, the Australian financial regulator, has issued a warning about tradingspace.pro and advised traders not to deal with it.
Regulation and Compliance:
Tradingspace.pro claims to be regulated by ASIC and to have an Australian Financial Services Licence (AFSL) number 491139. However, this is not true. The AFSL number belongs to Trading Spaces Pty Ltd, a genuine company that has no connection with tradingspace.pro. Tradingspace.pro is using the name and licence number of Trading Spaces Pty Ltd without its permission or knowledge. This is a clear sign of fraud and identity theft. Tradingspace.pro is not regulated by ASIC or any other authority. It is operating illegally and without any oversight or protection for its clients.
Customer Support:
Tradingspace.pro claims to offer 24/7 customer support via phone, email, and live chat. However, this is also a lie. Many traders who have tried to contact tradingspace.pro has reported that they either received no response or were met with rude and unprofessional staff. Some traders have also reported that tradingspace.pro blocked their access to their accounts or refused to process their withdrawal requests after they complained or asked for their money back.
Customer Reviews:
Tradingspace.pro has a very poor reputation among online traders. There are numerous negative reviews and complaints about tradingspace.pro on various forums and websites. Most of these reviews accuse tradingspace.pro of being a scam, a fraud, and a rip-off. Some of the common issues reported by traders include:
– Fake trading platform and results
– Manipulation of prices and spreads
– Hidden fees and charges
– Difficulty in withdrawing funds
– Harassment and pressure from account managers
– Account closure without notice or explanation
How can crypto transactions be traced?
Tradingspace.pro claims to offer trading in various cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, and Ripple. However, this is another deception. Tradingspace.pro does not actually provide any access to the real crypto markets or exchanges. Instead, it uses a fake platform that mimics the appearance and functionality of a real one, but does not execute any real trades or transactions. Tradingspace.pro simply takes money from its clients and pretends to trade on their behalf.
However, this does not mean that tradingspace.pro can get away with its fraud. Crypto transactions are not completely anonymous or untraceable. They are recorded on public ledgers called blockchains, which can be accessed by anyone with an internet connection. Blockchains store information such as the amount, date, time, and address of each transaction. By using various tools and techniques, such as blockchain analysis, transaction tracking, and wallet clustering, it is possible to identify the origin and destination of crypto funds and link them to real-world identities.
Shielding Your Finances: Measures to Avoid Scam Brokerages
Tradingspace.pro is just one example of the many scam brokerages that operate online. To avoid falling prey to these fraudsters, traders need to be vigilant and cautious when choosing an online broker. Here are some measures that can help traders shield their finances from scam brokerages:
– Check the regulation and licence status of the broker. Only deal with brokers that are authorized by reputable regulators, such as ASIC, FCA, CySEC or NFA.
– Verify the contact details and address of the broker. Avoid brokers that use PO boxes, virtual offices, or offshore locations.
– Read the terms and conditions, privacy policy, and other legal documents of the broker. Look out for any clauses that may limit your rights or expose you to risks.
– Research the reputation and feedback of the broker. Look for independent reviews, ratings, and testimonials from other traders.
– Test the customer service and support of the broker. Contact them via phone, email, or chat and see how they respond to your queries or concerns.
– Try out the trading platform and features of the broker. Use a demo account or a small amount of money to evaluate the performance, functionality, and reliability of the platform.
– Be wary of any offers or incentives that seem too good to be true. Avoid brokers that promise unrealistic returns, bonuses, discounts or rewards.
– Be careful with your personal and financial information. Do not share your passwords, PINs, verification codes, or other sensitive data with anyone. Use strong and unique passwords for your online accounts and change them regularly.
Conclusion:
Tradingspace.pro is a scam brokerage that should be avoided at all costs. It is not regulated by ASIC or any other authority. It is a suspected imposter entity that uses the name and licence number of a legitimate company to deceive traders. It does not provide any real trading services or access to the crypto markets. It only takes the money from its clients and then blocks ignores, or harasses them. ASIC has warned traders not to deal with tradingspace.pro and to report any suspicious activity to them.
If you are looking for a reliable and trustworthy online broker, you should check out our list of recommended brokers. These brokers are regulated by reputable authorities, offer transparent and fair trading conditions, provide excellent customer support, and have positive reviews from satisfied clients. They also offer a variety of trading instruments, platforms, and tools to suit your needs and preferences.
