The scam broker TitanTrade is nothing more than the well-known scam broker NRGBinary that has changed their name due to the numerous backlash from traders that were scammed by them. With numerous complaints online and plenty of traders that have lost unbelievable amounts of money, this is obviously a scam broker that should not be trusted.
Who are TitanTrade?
Well, a bit of research reveals that they are the same NRGBinary that has been known to scam numerous traders. In the website they are claimed to be owned by TitanTrade Capital Limited, but there is mixed information that it may still be owned by NRG Capital LTD under the same name NRGBinary was registered, Guy Galboiz. Perhaps since this information came out they have changed the name.
Currently there is a warning by the Australian Securities and Exchange Commission (ASIC) that the broker TitanTrade has been added to the list of companies you should not do business with. Although the official website claims their headquarter address in Belize (35 Barrack Rd, 3rd fl, Belize City, Belize) yet offers a number of phone numbers in various countries including the UK, Australia, Spain, and more. Regardless, the broker does not have regulatory status in any of these countries, and no physical address that can really be confirmed has been provided. There is no company by the name of TitanTrade Capital Limited located at the provided address.
There are also similar warnings as the Australian Securities and Exchange Commission from the Italian financial watchdog CONSOB, the Ontario Securities Commission, as well as France’s Financial Market Regulator. In September the U.S. Commodity Futures Trading Commission also added TitanTrade to their red list.
I have researched the provided phone numbers in the contacts page and discovered that they have been blacklisted in numerous websites that allow individuals to comment on phone numbers that have contacted them. There are complaints about harassment, prank calls, repeated phone calls within minutes, hang-ups, and push tactics to get them to invest money with them.
Complaints Proving TitanTrade is a SCAM BROKER
Aside from the numerous contradicting information and the constant transformation of TitanTrade the moment it is connected to a company that is known to scam people or has received too many complaints, there are some very real reasons to avoid them. Finding out the real information about the company is near impossible as they have transformed like a chameleon numerous times.
A quick search online reveals numerous issues with this broker. People have suffered greatly investing with them. I have found pages upon pages of complaints and questions as to how to get their money back. From serious issues with customer service, lies about withdrawals, unauthorized termination of accounts, and impossible to reach bonus turnovers that seem to change the moment you reach them, the list is endless. There are so many issues here that if I go through each complaint and share their experience I could go forever.
I wanted to share several though, which I think are the most important and most tragic.
In the broker review site Scam Broker I discovered a very long list of complaints consisting of 49 comments. As TitanTrade doesn’t really rely on traders that come to them on their own, most people were lured to invest with them through binary options robot scams. Here are some of the most common complaints:
Withdrawals are near impossible and require not only months on end to get only a portion of their money back but lawyer involvement and a lot of stress. There are various accounts of this but several different types that they fall under. There are people that had bonuses forced upon them which they could never reach the bonus threshold before withdrawing, when the time for withdrawal does finally come new thresholds are given. Other people fall under the category of those that did not accept a bonus but signed up through one of the scam websites, they were pushed to invest even more by the broker, only to decide to back out after researching more. At that point, though, the broker refuses withdrawal and sets trading thresholds even without a bonus, not to mention withholds money from their investments in the case they do get their money back.
The last category of traders fall under is those that actually make an investment and make a good profit. Once they have made their big profit they try to withdraw only to have their account terminated without reason or notification. Their money simply disappears. Only after months of back and forth and legal help involved do they get a portion of their initial investment back. For the most part, the moment someone asks for a withdrawal they stop getting replies and all contact is cut.
Other issues involve harassment from the broker. Once they have invested the minimum investment of $250 they receive continuous harassing phone calls and emails to push them to invest more and more money. Upon refusal they get nasty attitude and even more aggressive calls. Until you have invested far more than you have initially decided you can afford, they do not leave you alone. They do not only apply this to current traders or those that have shown interest in this scam broker, they do cold calling and call people non-stop to push them to invest. There are numerous accounts of people complaining about the phone numbers listed harassing them to invest.
With connection to some of the most notorious binary options scams out there as this scam brokers affiliates, connection to an already proven scam broker NRG Binary, and zero transparency it’s enough to question the reliability of this broker. When you add to this the numerous complaints and pages of discussions as to how to withdraw your money and how to protect yourself from this broker, I think it’s more than enough proof that they should not be trusted. Whether it’s through a 3rd party binary options software or simply because you are looking for a new broker to trade with, avoid the scam broker Titan Trade as the likelihood to never see your money again is great.