TradeWell Exchange is a foreign exchange broker whose official website domain was registered on October 22, 2023. It mainly offers investors financial derivative trading services such as forex, stocks, indices, energy, metals, and ETF contracts for difference. The broker does not provide services to jurisdictions that may violate local laws or regulations.
Corporate Registration Information and Regulatory Status:
Public information on the TradeWell Exchange website shows that the broker has multiple corporate entities under its umbrella, regulated by various regulatory bodies. TradeWell Exchange Ltd is authorized and licensed by the Cyprus Securities and Exchange Commission (CySEC), with license number 1780019. TradeWell Exchange (registration number HRB11677B) is a designated agent of Ultra Booster Trade Ltd registered with the German Federal Financial Supervisory Authority (BaFin), and the broker was licensed by the Financial Services Commission (FSC) of Mauritius as an investment dealer on October 2, 2017, and is regulated by it, with license number C17554381. TVH Ltd is authorized and regulated by the Seychelles Financial Services Authority (FSA), with license number SD0175.
According to verification of its public information on the official website, the Cyprus Securities and Exchange Commission (CySEC), the German Federal Financial Supervisory Authority (BaFin), the Financial Services Commission (FSC) of Mauritius, and the Seychelles Financial Services Authority (FSA) have not found any regulatory registration information for this broker.
Opening an Account:
To open an account with TradeWell Exchange: Access the broker’s official website, click “SIGN UP FOR FREE” on the homepage or “SIGN UP” on the top right corner of the webpage to enter the account registration page. Follow the instructions to fill in personal information such as name, email address, and set up a password. Once the application is submitted, the account is successfully registered.
Account Types:
TradeWell Exchange offers a demo trading account and four different types of trading accounts: STARTER, BASIC, PRO, EXECUTIVE. However, its official website does not disclose information related to spread, trading leverage, margin call/stop-out levels, contract size, trading commissions, minimum/maximum trading volume, maximum positions/orders, or minimum price precision.
Trading Platform:
TradeWell Exchange offers a proprietary trading platform to its users.
Deposits and Withdrawals:
TradeWell Exchange supports deposits and withdrawals through local banks, electronic wallets, or cryptocurrencies.
Conclusion:
Traderknows reminds investors that TradeWell Exchange is a scam platform providing false regulatory information, with its website design and content identical to those of brokers such as Elys FX Trade, Global Finance FX, Vedit Luminus, Irex Global Chain, Profit Miner24, and Universal FX Trade. Traderknows advises investors to choose brokers that are transparent, strongly regulated, and have a good reputation for their investment and trading activities to avoid unnecessary losses to their assets.
Currently, this broker is marked as "Suspected Scam" on Traderknows.
