Tools4Deals

Investigating Tools4Deals: A Comprehensive Review

At the scam broker Tools4Deals, one of the slogans on the official website banner reads: “Your Goals + Our Pro Support = Triumph”. Project creators are always ready to promise clients a modern trading platform, professional assistance, and the highest level of security for trading and non-trading operations. However, promising is not the same as delivering, and authors of the slogan likely imply the triumph of their platform in the misappropriation of trader’s money. Why do we hold this opinion? Find all the answers in the review below.

Overview of Tools4Deals

Getting acquainted with a broker is one of the most important preparatory steps for a trader. Typically, this begins with the project’s website. Therefore, the first part of our review is dedicated to sections of Tools4Deals’ website.

Broker History

Starting the acquaintance with the platform from the company’s history is a good approach. Firstly, a broker’s long history can already be considered a significant reason for trust. Secondly, stages of development, achievements, and awards reflect the success and ambition of the team, providing insights into the prospects of working with them. This is why real licensed brokers dedicate entire pages, sometimes even multiple pages, to this information.

On Tools4Deals’ website, there is no information about the history of the platform. The reason is simple — the super-broker has nothing to say not only about its history but about itself in general. The complete absence of pages about the company convincingly evidences this.

Tools-4deals.com Website

In general, it’s challenging to say anything positive about the broker’s official website. Rather, it can be called a failure in terms of both web design and content management. The former failed to create a cohesive image or choose a unified design concept. As a result, it looks as if nobody bothered to work on it at all.

The content at Tools4Deals is also lacking from our perspective. It’s challenging to consider it worthy due to:

• Dull, verbose, and unsubstantiated reasons claiming the platform as «#1 Choice.»

• The Banking section in the main menu, where 3 lines of useful information about available payment methods are spread across 4 pages.
• The Investment Plans page, which lacks specific offers for different customer groups, instead providing a narrative about the benefits of collaborating with Tools4Deals.

Overall, it gives the impression that developers and clients behind this project do not understand ‌the audience they will be dealing with and its demands. This indicates that Tools4Deals’ project was not created by a team of professionals focused on long-term collaboration with traders but rather by scammers interested solely in the client’s money.

Registration Process and Personal Account

The registration process for a new client at Tools4Deals confirms that this pseudo-broker lacks an understanding of the standards of real trading platforms and the legal norms that guide them. Therefore, registering here can be done in less than a minute, and all that is required to complete the procedure is filling out a basic form.

In its fields, it is required to:

• Enter a first and last name.
• Select a country of residence (a phone code will be automatically obtained).
• Provide a phone number and email.
• Create a password for authorization.

It is also mandatory to confirm that a client is over 18, has read and agreed to the Terms & Conditions and Privacy Policy.

In contrast to Tools4Deals, licensed brokers:

• Request more personal information. Most legal platforms also ask for the date of birth, residential address, and require filling out a questionnaire about investment experience and source of funds.
• Provide significantly more documents for review. At the very least, their lists include the full text of the Risk Disclosure, rather than a couple of lines placed in the footer of the pages, as is the case with Tools4Deals.
• Conduct full or partial verification of contact details during registration.

Unlike such a complicated procedure, a Tools4Deals client enters the working space, combining functions of a personal account and a trading platform, immediately after filling out and submitting the form. It should be noted that there can be no talk of the promised broker security with such an approach to registration and organization of the working space.

The account management functions are grouped in a dropdown menu in the upper right part of the working area. A registered Tools4Deals user can:

• Edit personal data (it is mandatory to specify the residential address).
• Change security settings (set a new password).
• Undergo verification of personal and payment data.
• Deposit funds and submit a withdrawal request.
• View transaction history.
• Connect to social trading.

However, security issues are not addressed here either. For instance, contact data verification is still not provided, and additional security measures, such as enabling two-factor authentication (2FA), are absent.

Nevertheless, for scam projects, this is a common practice. They will still manage to get the client’s money into their accounts and ensure their safety there. The virtual figures on Tools4Deals trading accounts do not require security provisions.

Trading Platform

As for the trading platform of Tools4Deals, it appears quite decent. However, this is not surprising considering that its foundation is a well-known product from TradingView.

Developers of Tools4Deals only needed to organize a convenient and functional user interface for the widget. They did not fully succeed in solving this task. For example, the ability to open multiple price charts in the terminal is absent. This is a problem for portfolio investors and scalpers alike, for whom the need to load another chart in place of the current one can result in losses.

However, the creators of Tools4Deals did not miss the chance to use unconventional methods to attract traders’ attention. For instance, a group called Cannabis appeared in the market review (list of asset groups). There are no more reasons to highlight it than, for example, for producers of soft drinks. However, young traders, inclined towards everything unusual, will certainly notice it.

Contacts

On the contacts page, Tools4Deals has published:

• Email support@tools-4deals.com.
• Phone number in the Netherlands: +31203699503 and in Singapore: +65315968481.
• Office addresses: Gustav Mahlerplein 28, Amsterdam, Netherlands; Robinson Rd 14, Singapore 048545, Singapore.

In our opinion, there is no actual company address here, and provided information belongs to rented virtual offices (mailing address + phone number). This judgment can be made, for example, based on the absence of room numbers in the addresses. Such services are relatively inexpensive (on average, around 200 euros per month) but allow for the creation of an image of a reputable company with multiple offices in different parts of the world.

Analysis of Services Offered by Tools4Deals

After familiarizing oneself with the broker’s web services, it’s time to carefully study the list of the company’s services and the trading conditions it offers. In advance, we would like to mention that Tools4Deals does not strive to share exhaustive information with its clients.

Funding and Withdrawal

As mentioned earlier, information about funding accounts and withdrawing funds is available in Banking section in the main menu of the website. We also pointed out that on the whole 4 pages of this section, only 3 lines proved to be useful, stating that the broker uses the following payment methods:

• Wire transfers.
• Transactions with debit, credit, and prepaid cards.
• Operations with electronic wallets.

However, the creators of Tools4Deals have chosen not to provide details important to traders, such as transaction limits, processing times, and commission sizes. This lack of transparency can lead to not-so-pleasant surprises for the company’s clients.

In the personal account, it was easy to find an explanation. Of the listed methods, a Tools4Deals client can only use bank card transfers.

To execute the operation, you will need to specify its amount, followed by detailed card details, including the cardholder’s name and surname, card number, expiration date, CVV2/CVC2 codes. Moreover, even after completing the transaction, the recipient’s details are not disclosed, and they can only be viewed in a detailed statement, which needs to be ordered from the bank. For scam projects, such an approach is not new, and the cardholder is likely to be a placeholder whose connection to Tools4Deals is unlikely to be proven.

Tools4Deals Trading Conditions

The broker’s approach to disclosing trading conditions can also be considered unique. In the list of 7 types of accounts, a trader will only find minimum deposit amounts and no other specific figures.

They are as follows:

• Standard — €250.
• Bronze — €3,500.
• Silver — €10,000.
• Gold — €25,000.
• Platinum — €50,000.
• PRO — €100,000.
• VIP — €250,000.

It should be noted that we set the account currency to EUR ourselves based on the payment form in the personal account. Tools4Deals did not find it necessary to specify in which currency the accounts are denominated.

The broker mentions other trading conditions in the account types options. However, these mentions look simply astonishing. For example, a client wanting to know the leverage size must make do with the information «Leverage Trading on Gold Level» for Gold accounts. What exactly the term «Level» implies is known only to the company’s employees.

On the other hand, there are quite a few options listed that might interest a novice or a trader not willing to delve into the details of trading but seeking substantial profits. These include bonuses, insured trades, and support from highly qualified specialists. In short, those who are fond of easy profit (or rather, their money) are eagerly awaited here.

Unique Features

Tools4Deals has pleased its clients with a unique offering — a set of investment plans. The platform’s creators even came up with names for them and dedicated an entire page on the official server for descriptions. However, this could have worked if the broker’s staff knew what the term “Investment Plans” means.

Since the project team has a very distant understanding of the specifics of brokerage and investment companies, the unique feature turned into meaningless essays about how specialists will be happy to help traders and how the latter will (probably) be able to earn after such assistance. In short, nothing specific and another disappointment for those who understand.

Is Tools4Deals Trustworthy and Reliable?

We can see that the broker employs methods commonly used by scammers in dealing with clients and presenting information. To dispel all doubts, the only thing left for us is to verify the official information about Tools4Deals.

Assessing Legitimacy

Tools4Deals does not provide information about its existence or registration location. However, there are two office addresses for the company on the contact page. Checking the broker’s registration information based on these addresses seems quite logical.

As we can see, the search in the business registry of the Netherlands has ended without results. The company was also not found on the Singapore registry. As we suspected, the addresses are likely rented, which does not require company registration.

However, in the Terms & Conditions, Tools4Deals almost explicitly states that searching for a legal entity is pointless. For example, in the first paragraph of the document, it is stated that the parties to the agreement are the Client and «a team offering services for creating a trading account (hereinafter referred to as the ‘Company’).» A bit further, in the Custom Agreement section, it is indicated that it is concluded between «www.tools4deals.com (hereinafter referred to as ‘Company’ under the trade mark TOOLS4DEALS)» and the User, Client, or Trader.

The faceless «team» or (even more interestingly) the website does not resemble an officially registered company. Accordingly, this pseudo-broker can only operate on the Internet, and there is no expectation of any licenses from real regulators.

True, Tools4Deals tries to give an appearance of legitimacy to its activities by referring to regulation by something called The Crypto Service Authority. However, this is a pseudo-regulator, as real as the scam platform itself. It also has no registered address or legal entity. Can such a misunderstanding regulate anything?

Established Track Record

We only need to find out how long Tools4Deals has been in existence online and misappropriating traders’ money. The assessment of its existence over time can be aided by the whois service, specifically, the registration date of the domain.

As we can see, the domain registration date is November 22, 2023. This means that at the time of writing the review, the site had not been operational for even a month. However, the platform was previously hosted at tools4deals.com. That domain was registered in May 2023, which means that the broker has been in existence for about 7 months in total. For fraudulent projects, this is a respectable age, which means that the likelihood of a scam is increasing every day.

By the way, the Crypto Service Authority claims the platform was registered in May 2022, a year before its actual appearance. This perfectly illustrates the honesty of the pseudo-regulator and shows how much trust its certificates deserve.

Implications for Traders

Without a doubt, Tools4Deals is a fraudulent project mimicking the operations of a CFD broker. Its main goal is to misappropriate traders’ money. However, an attentive user will notice that the platform operates without registration and licenses, offers fake trading conditions, and publishes unreliable data. Sending money to such a project means losing them permanently. We strongly recommend against taking such risks.

Strengths and Weaknesses