Tradesarack is a forex broker that was registered in 2024, primarily offering investors trading services in forex, stocks, soft commodities, and indices, among other financial products. There have been counterfeit operations associated with Tradesarack, which has not been effectively regulated by any regulatory authority. The brokerage offers a variety of investment accounts, with the elite account requiring a minimum deposit of 100,000 USD.
Corporate Background:
Tradesarack Limited is a brokerage headquartered in Adkins, Texas, USA, with its office located at 640 Sunshine, Adkins, TX, USA. However, its registration information is not available in public records, posing certain security risks. The company's official website domain was registered on March 6, 2024, indicating its recent establishment. Investors should proceed with caution when deciding to trade with it.
Tradesarack specializes in the financial trading domain, primarily offering Contract for Differences (CFDs) and Margin FX Contracts trading services. CFDs allow investors to speculate on the direction of asset price movements, while Margin FX Contracts enable traders to leverage the forex market. However, both trading forms carry a high level of risk and are not suitable for all investors.
Regulatory Status:
Tradesarack claims to be a trading platform holding Australian ASIC and Vanuatu VFSC regulatory licenses, with ASIC license number AFSL 436416 and VFSC license number No. 40356.
ASIC, as an independent Australian government body, is responsible for enforcing and regulating company and financial services laws to protect Australian consumers, investors, and creditors. VFSC is the regulatory body responsible for overseeing the banking and financial services sector in Vanuatu.
However, it is actually Trademax Global Limited (TMGM) that holds the aforementioned regulatory licenses, not Tradesarack. Tradesarack has been involved in counterfeit operations, being unregulated by any authority. The claimed regulatory status of Tradesarack is false, implicating potential misleading promotion of regulatory information. Investors should be cautious when using this platform as the trading services provided might pose great security risks and could lead to investor losses.
Trading Products:
This brokerage offers a diverse array of trading products, including forex, indices, stocks, precious metals, soft commodities, and energy. These products span a variety of asset types from different global markets, providing investors with ample choice. Each product type has its own characteristics and advantages, allowing investors to select based on their risk preference and investment goals.
- Forex:
The forex market is one of the largest and most liquid markets globally, with daily trading volumes exceeding 6.5 trillion USD. On this platform, investors can trade 60 currency pairs, enjoying leverage up to 1:500 and very low spreads, thus accessing a wide array of trading opportunities.
- Indices
By trading index CFDs, investors can gain exposure to over 15 global indices. This allows investors to speculate on the performance of various stock markets worldwide, with leverage up to 1:200 and without commission fees.
- Stocks
On this platform, investors can trade over 15,000 stocks, gaining comprehensive exposure to the world's largest markets. Investors can trade on MT5 and IRESS, with opportunities to earn dividends.
- Precious Metals
Precious metals are considered "safe-haven" assets, known for their ability to hold value in uncertain and volatile markets. On this platform, investors can trade gold, silver, and platinum, with leverage up to 1:400.
- Soft Commodities
Soft commodities include perishable products such as cocoa, coffee, cotton, orange juice, and sugar. Through futures CFDs, investors can trade these on the platform, with leverage up to 1:50.
- Energy
Energy products like crude oil and natural gas offer investors a good opportunity to diversify their investment portfolios. On this platform, investors can trade these products, with leverage up to 1:100, without needing to purchase the physical products.
Trading Platforms:
Tradesarack forex brokerage provides two main trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Both platforms are popular in the forex trading industry, offering a range of features and advantages suitable for various types of traders.
- MetaTrader 4 (MT4):
MetaTrader 4 is a widely recognized trading platform, considered one of the industry standards. It's suitable for manual and algorithmic trading, offering a suite of charting tools, technical analysis functionalities, and custom indicators, enabling traders to execute their trading strategies more effectively. MT4 is available in mobile, desktop, and web application versions, offering flexibility and ease of use.
- MetaTrader 5 (MT5):
MetaTrader 5 is an upgraded version of MT4, providing traders with additional trade time frames, order flexibility, and strategy testing speed. Moreover, MT5 supports a wider range of tradeable assets, including forex, stocks, futures, and CFDs.
Account Types:
This brokerage offers various types of investment accounts, designed to meet the needs and experience levels of different investors. From beginner to elite accounts, each type sets different minimum and maximum deposit levels and expected investment returns. Moreover, the brokerage provides different referral bonuses and other promotions, along with additional features such as hedging and scalping, offering more flexibility and opportunities for investors.
Account Types Explained:
- Beginner Account: Suitable for novice investors, with a minimum deposit of 300 USD and a maximum deposit of 4,999 USD, expected returns of 38,493 USD. Offers a 10% referral bonus and seven times rapid withdrawal investment returns.
- Standard Account: Aimed at mid-size investors, with a minimum deposit of 5,000 USD and a maximum deposit of 9,999 USD, expected returns of 104,993 USD. Offers a 12.5% referral bonus and seven times rapid withdrawal investment returns.
- Professional Account: For more experienced investors, with a minimum deposit of 10,000 USD and a maximum deposit of 49,999 USD, expected returns of 419,993 USD. Offers a 15% referral bonus and seven times rapid withdrawal investment returns.
- Corporate Account: For larger-scale business owners, with a minimum deposit of 50,000 USD and a maximum deposit of 99,999 USD, expected returns of 1,049,993 USD. Offers a 20% referral bonus and seven times rapid withdrawal investment returns, with no withdrawal fees.
- Elite Account: For high-net-worth individuals and large-scale investors, with a minimum deposit of 100,000 USD and unlimited maximum deposit, expected returns exceeding 5,000,000 USD. Offers a 25% referral bonus and verifies automated strategies as well as high-return auto-trading pilot projects.
Minimum Deposit Amounts:
This brokerage offers various types of investment accounts, each with different minimum deposit amounts. From beginner to elite accounts, the minimum deposit amounts increase progressively. Beginner accounts require a minimum deposit of 300 USD, suitable for novice investors; standard accounts require a minimum deposit of 5,000 USD, aimed at mid-size investors; professional accounts require a minimum deposit of 10,000 USD, suitable for more experienced investors; corporate accounts require a minimum deposit of 50,000 USD, aimed at larger-scale business owners; elite accounts require a minimum deposit of 100,000 USD, intended for high-net-worth individuals and large-scale investors.
Deposit and Withdrawal Methods:
This brokerage does not provide transparent and convenient deposit and withdrawal methods, which may inconvenience investors and introduce uncertainty. Investors generally expect to use familiar and trusted methods for fund transfers, such as bank transfers, credit cards, or e-wallets. The lack of clear deposit and withdrawal methods can impact their investment experience and raise concerns about fund security and reliability.
Conclusion:
Tradesarack is a forex brokerage registered in 2024, headquartered in Adkins, Texas, USA. Although the company claims to hold Australian ASIC and Vanuatu VFSC regulatory licenses, it is another company that actually holds these licenses. Investors should be aware of the potential counterfeit operations associated with Tradesarack and the possibility of false claims regarding its regulatory status. The lack of transparency in its deposit and withdrawal methods can inconvenience investors and introduce uncertainty. Therefore, investors should carefully consider choosing Tradesarack for trading and make informed decisions based on their circumstances.
Currently, Tradesarack is marked as "Suspected Fraud" on TraderKnows.
