SpeedTrader Review – Is Investing in SpeedTrader Safe?
Finding a broker who is reliable and quick is essential in the rapid world of online trading. SpeedTrader is a US-based brokerage founded in 1999, which advertises itself as a fast-paced environment to trade stocks, options, ETFs, and mutual funds. However, there are some concerns related to its regulatory status and overall trustworthiness that need to be explored. This SpeedTrader review can help with your decision-making.
Overview of SpeedTrader
SpeedTrader.com offers many advanced trading platforms. This includes SpeedTrader Pro, Active Web, and a mobile app. The broker is directed at active traders offering direct market access and low-latency executions. Clients can also find educational material in the form of blogs and webinars to help them improve their trading.
Company Name – SpeedTrader International Limited
Website – https://speedtrader.com/
Address – (i) 2875 Route 35, Suite 5C-2, Katonah, NY 10536
(ii) Old Route 6 1717, 10512, Carmel Hamlet, United States
Regulatory Warning – Not Recommended By Review Website Like Scams Report
Domain Blacklisted Status – It seems there is no direct mention of this domain being on a blacklist.
Despite this, the main risk factor is the absence of regulatory oversight by SpeedTrader International.
Key Features
- Platforms: SpeedTrader Pro, Active Web, Mobile App
- Assets Offered: Stocks, Options, ETFs, Mutual Funds
- Customer Support: Limited hours, phone, email, and live chat
- Minimum Deposit: Varies by platform, often high
- Payment Options: No debit/credit cards or e-wallets
SpeedTrader Scam:
While SpeedTrader seems legitimate on the surface level, there have been concerns that deserve more scrutiny. This SpeedTrader review reveals a number of red flags that suggest potential scam-like behavior present.
No Regulation = High Risk
SpeedTrader holds no license and operates without the oversight of any recognized financial authority. The broker has a low score of 1.60/10 on WikiFX. This lack of regulation means that your funds are not protected by any legal entity.
Negative Reviews and User Warnings
The broker has a Trustpilot rating of 3.2, with numerous users labeling it a scam. One reviewer stated, “Run away from this scam”, attributing this to evidence on hyipscampolice.com. These reviews indicate poor experiences for clients and possible mismanagement of funds.
Check here: SpeedTrader.com review Trustpilot
High Costs and Inconveniences
SpeedTrader charges non-trading fees, such as software and transfer fees, which add up. It also requires high minimum deposits, making it inaccessible to new traders. Additionally, SpeedTrader login and fund transfers are limited due to the lack of support for debit/credit cards or e-wallets.
Poor Customer Support
Support is only available Monday to Friday during limited hours, which is not ideal for a global user base. No 24/7 assistance leaves clients vulnerable during critical times.
SpeedTrader.com review Trustpilot results and its absence of regulation makes this broker a high-risk option. This SpeedTrader review strongly advises traders to proceed with caution.
Summary
- Unregulated broker
- High minimum deposits
- Trustpilot reviews indicate scam complaints
- Limited customer support
- Multiple non-trading fees
- No credit/debit card funding
This SpeedTrader review concludes that the broker poses a significant risk to traders, especially without regulatory protection.
How to Recover Money from Scam Brokers
Do not wait if you have lost money to SpeedTrader or any other unregulated broker. Use Scams Report to start your recovery journey. Our platform is made to assist victims of financial fraud by putting them in touch with our technical and legal specialists who have extensive knowledge of broker scams.
Depending on the type of fraud, our recovery strategies include chargebacks, crypto tracing, and legal action. Our team offers a free consultation to examine your case and determine the best option for action. We can help you navigate the process clearly and privately because we are aware of the strategies scam brokers employ.
Keep your hard-earned money away from scammers. Speak with a specialist at https://scamsreport.net right now to get your money back and regain your peace of mind.
Our Social Pages
Disclaimer: This review is based on online reports and customer complaints. Always research carefully before investing with any broker.
