Trade111 Review (2023)

Is Trade111 a scam or a legit broker?

Trade111 is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, never monitored in terms of its safety and simply may operate the business in any way it wishes.

Trade111 is a brand name used by the firm Blonde Bear OU as well as the Black Parrot Ltd, which is a part of the bigger group that operates numerous brands related to the trading. All companies that are used by the group were blacklisted by various jurisdictions and authorities, numerous scam reviews and “quilt verdicts” while the potential investors were warned many times to stay aside in case there is any appearance of the Blonde Bear OU or Black Parrot name within the documentation.

The company, which originates from Estonia never held any license, promised vast of turnovers through competitive offering to the clients while showing its significant change of trade names, yet at all times the typical fraud operations were detected. The group of websites and names includes previously reviewed by us tradex1, investmib, tradesprime and other.

Unfortunately, that is a typical scam practice, while the broker operates with no license or regulation, attracts clients by “tasty” income opportunities, however is not legit to provide any financial service. Further on, the broker will disappear while will be back under another name in a search of new clients to attract, while the basis remains the same. And this is the case of Trade111, which is definitely not safe to trade.

Conclusion

For that reason, we always recommend to check out the reputation and the regulation of the broker before any investment is done. Security of funds is always first, thus the company should hold all necessary to its jurisdiction legit documentation and be strictly regulated in order to ensure customer protection.