TradeX1 Review (2023)
Is TradeX1 a scam or a legit broker?
TradeX1 broker is Non-Regulated Broker. It is NOT SAFE to trade with this company. We have checked the company and there is no authorization or registration of the address, therefore the company seems to be highly suspicious while might operate its services from an absolutely different location.
About TradeX1
| 🗺️ Registered in | Estonia |
| 🗺️ Type of License | No License |
| 🛡️ Is TradeX1 safe to trade | No |
| 🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
| 🖥 Alternative Broker | FP Markets - licensed by ASIC in Australia |
TradeX1 is a brand name used by the company Blonde Bear Ou registered in Tallinn, Estonia. The broker claims its state-of-art technological solutions in online trading with an advanced offering on a range of instruments as well as IT & Finance, Administration services. The firm is located in Estonia, which is part of the EU and actually should be registered with industry authority in order to provide its legal services. Since it is not the case of the TradeX1, there is no confirmation that the service truly deserves its claimed status.
Moreover, the company was promoting its service within Italy and other European jurisdictions including the UK without a legal permission from the local authority so, therefore the TradeX1 was blacklisted brand as it believes to be a trading scam. Recently, FCA UK and CONSOB Italy posted their warnings to the investors against trading with TradeX1.
“The TradeX1 firm is not authorized by us and is targeting people in the UK. Based upon the information we hold, we believe it is carrying on regulated activities which require authorization.”
FCA UK, June 2018
Conclusion
The CONSOB authority or other reputable regulators as responsible for the smooth market operation and offering advice to the public and potential traders always to check the company registers before any investment is done. Since there are many fraud companies appearing daily, it is at the major priority to choose only among the legal entities that are authorized by the industry agencies and are Regulated Forex Brokers. Apart from the legal side, there are necessary tools implied in order to protect the client in case the company faces unlikely events or performs service.