TradeOxen Review: Is TradeOxen a legit or a scam broker?
Considering the number of people who have lost money to TradeOxen, it is crucial to know if any early indicators could have revealed its fraudulent nature. As the primary reason behind the SEC warning, the lack of a license was the most apparent issue. Additionally, TradeOxen provided false return guarantees and urged clients to make cryptocurrency-only deposits and withdrawals.
To know more about the TradeOxen scam, read a complete TradeOxen review.
Website – https://tradeoxen.com
Address – 100 Pine Street, Suite 1250, San Francisco, CA 94111
Regulation – Unregulated
Warned By – U.S. Securities and Exchange Commission (United States)
Fraudulent Activity Alert
Recently, numerous complaints have been received against Tradeoxen. It has been discovered that the company is involved in fraudulent activity, designed to defraud investors.
To assist victims of the Tradeoxen scam in recovering their lost funds, Fraud Brokers offers international financial fraud investigative services. Our team of sophisticated asset recovery specialists was created to safeguard and aid victims of investment scams.
Why Return Guarantees are Suspicious in Trading
No licensed broker can guarantee returns. If a broker offers this, it could be a red flag indicating that they use fake trading software to provide inaccurate market information. TradeOxen, for instance, offers three plans with returns ranging from 50-70%, 70-110%, and 110-190% respectively, which is unreasonable considering that most brokers typically return only 5-9% per annum. Such guarantees are likely to be fake.
The Usual Practices of Unregulated Forex Brokers
Unregulated forex brokers usually follow a standard operating procedure to attract customers. They will contact potential customers and use various tactics to convince them to make an initial minimum deposit. Often, they will offer deals that seem too good to pass up, such as doubling the initial investment. Once the customer makes the initial payment, they are assigned to a “retention agent,” who is a skilled con artist that will try to extract more money from them.
Warning Signs of a Potential Scam Broker
To protect yourself from scams, watch out for these red flags when considering TradeOxen as your broker:
- Lack of license
- Not transparent
- Promises high returns
- Misleading statements
- Negative reviews
Have You Been a Victim of TradeOxen Broker Scam? Get Help by Filing a Complaint with Us
If you have been scammed, we understand how traumatic this experience can be. At Fraud Brokers Community, we are here to support and listen to you. Despite the distress you may be feeling, we want to reassure you that there is a way to recover your funds. You do not have to go through this alone – please reach out and tell us your story.
To begin the process, simply complete a brief complaint form and receive a complimentary consultation. We are different from other unreliable recovery companies, as we have a proven track record of reclaiming millions of dollars from dishonest traders. Our team is dedicated to honesty and reliability, so you can trust us to help you through this difficult time.
If you have any questions or concerns in the meantime, contact us for a free consultation.
Read about a broker who engaged in a similar scam – AquilaFX review
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