TradersHome

TradersHome

The subject of our TradersHome review is a Forex/CFD broker to whom we would never entrust our money. Despite being in the market for quite some time, its operations remain illegal, and it still exhibits signs of being a scam project. If you want to know the details about this platform’s operations and the problems its clients face, read on.

Key Takeaways

• The company claims to be registered in Saint Vincent and the Grenadines, but it is not listed in the local regulator’s registry.
• The broker operates without a license, which is illegal.
• The statistical data, information on the number of trading instruments, and their descriptions are inaccurate.

Is TradersHome Trustworthy?

The only mention of the broker’s location can be found in the footer of the main page, stating that the company’s office is in Saint Vincent and the Grenadines. However, it lists the well-known address Suite 305 in Griffith Corporate Centre, Beachmont, Kingstown, which is registered to dozens of similar platforms. We doubt you will find a representative (let alone an office) of TradersHome there, even if you try hard. But it might have been used during registration in this jurisdiction.

All financial services in the country are overseen by the local financial regulator SVGFSA. Although it does not regulate Forex/CFD brokers or issue licenses to them, it keeps records of all such companies. Finding them is not difficult. The broker even provides their supposed registration number 25183IBC2018 in the Risk Disclosure. However, a search for this number in the registry yielded no results.

Moreover, a search by name returns seven results containing the word Traders. Well, TradersHome is not among them in any spelling variation. This means the company is not listed in the regulator’s registry and, accordingly, is not a financial service, even if it is registered in this country. On what basis, then, is it working with clients’ money?

We mentioned earlier that the SVGFSA does not regulate or license brokers operating in the Forex market. Without the appropriate authorization, such activities are considered illegal in any jurisdiction. As we can see, the platform has no grounds to provide brokerage services. Can it be trusted in this case? In our opinion, no.

However, it seems not all traders share our view. TradersHome conceals data on its duration of existence, and the whois service shows that it has been using the domain tradershome.com since 2012.

According to snapshots from the web archive service, the company launched its official website in 2018. The site has largely remained unchanged since then. For instance, the statistical data placed at the top of the main page is identical in 2018 and 2024, except for the Bitcoin exchange rate. The specialists assure us that over six years, the number of active traders (231,775) has not changed by even one person.

Apparently, living in the past is the company’s style. The COVID-19 pandemic, which ruled the world in 2020, has officially ended (the World Health Organization made the announcement a couple of years ago). But the platform’s creators can’t seem to forget it and even offer trading on the same conditions as during the crisis on one of the banners on the Home Page. However, the essence of this offer is extremely unclear since stock prices have changed significantly, in some cases, multiple times.

There are other facts about TradersHome that will undoubtedly interest users. For example, on the About Us page, traders are offered 250+ trading instruments, more than 400 on the main page, and over 500 on the Conditions to Trade page. As we can see, the stakes are rising, but the Our Products page is still ahead. Here, they promise more than 90 currency pairs and 1,000+ company stocks. And there are still commodities, indices, and cryptocurrencies. It seems that the creators of the platform themselves do not know how many assets the client will see in their terminal. A company with memory lapses? Sad, because one day it might forget that it holds other people’s money.

Trading instruments are even more interesting. On the Our Products page, the broker tells visitors that it trades spot currencies, spot commodities, spot stocks, and even spot indices. It would be fascinating to see how the company will deliver a couple of thousand barrels of oil, five tons of cocoa, or a few kilograms of gold to the trader. It would be equally interesting to meet a TradersHome client who received the purchased stocks in their account, dividends from the issuer, or an invitation from the issuer to a shareholders’ meeting. But more than that, it would be great to see a user who was provided with 100 units of the S&P 500 index on the platform.

This raises another interesting question: why do the owners talk about ECN/NDD technology instead of exchange trading? And on which exchanges could we find the company on the list of accredited brokers?

It’s clear that all these offers are just fairy tales aimed at market newbies. Experienced traders will laugh at such nonsense and will not cooperate with a pseudo-broker that lies even about the list of available trading assets.

There are also issues with registering new broker clients. After submitting the completed form, the user receives the message “Try again or request help from our live chat.” However, there is no chat on the site pages. One can only hope that support will help someone. In any case, our request was ignored.

Exploring Fees and Charges

Since we were unable to access the personal account, we can only judge monetary transactions and commissions based on the website materials. And there aren’t many of them. These materials also raise several questions.

• The broker claims on the main page that it uses only safe deposit methods – bank transfer and VISA/MasterCard transactions. However, the footer on the same page displays logos of payment systems, including Bitcoin. Which information should we trust?
• The website repeatedly claims that there are no transaction fees. However, in the ECN network, a broker cannot operate without commissions, otherwise, it would not make any profit. Additionally, the Terms & Conditions has an entire section 7 titled “Commissions, Fees, and Other Expenses.” It lists numerous instances where the client has to pay for the company’s services (though without specific figures). So again, the same question: should we trust TradersHome’s statements or the text of its main document?
• The site lacks the company’s details. Could it be because the platform does not have an official registration?

Overall, none of the statements inspired confidence. Maybe there’s more information in the personal account, but access to it is strictly guarded by the silent support team.

How User-Friendly Is the Trading Platform?

TradersHome talks a lot about its trading terminal, always in superlatives. Clients are promised modern software in four versions:

• Desktop platform TH Trader.
• Web trader.
• Mobile application for iOS and Android devices.

The download buttons even display the AppStore and Google PlayMarket logos. However, they are purely decorative. Clicking the buttons redirects to the login form, and a search shows that TH Trader mobile apps are not available in stores.

This raises a logical question: why is the broker misleading users? And why does it distribute its terminal independently? Perhaps its software was simply not accepted by these portals. There could be various reasons, such as:

• The programs do not meet the stores’ security or other requirements.
• The developer’s (read: TradersHome) reputation prevents software portal companies from doing business with it.

In either case, the company’s image is far from flawless. Additionally, the platform does not offer a demo account where potential clients could assess the terminal’s ease of use and features. From this perspective, the broker’s offerings seem disappointing.

What Do Clients Say?

We have already mentioned the broker’s fairly long history (since 2018). Over such a long period, many TradersHome reviews have appeared online. The company is also not lacking in publications on thematic portals. However, there is little positivity in both.

For instance, WikiFX notes that the platform provides services without a license, and its overall rating is 1.84 out of 5. The project received a similar rating on MyFXBook (2 out of 5). Users looking at such “achievements,” should consider whether it is worth dealing with this company.

The only site where TradersHome has a positive image is Trustpilot. However, all the positive reviews appeared back in 2022 (the last one in July), and since then, users seem to have forgotten about the broker. It seems the company’s PR budget has run out, and no one wants to speak well of the platform for free.

Final Thoughts: Can You Rely on TradersHome?

The information presented in our TradersHome review allows us to draw a clear conclusion: the broker tries to appear reliable but fails miserably. The platform operates without a license, and completing a registration independently is impossible. The site contains much inaccurate information, such as the number and types of trading assets. Although traders have been sending money to the company’s accounts for six years, we are confident that the likelihood of a scam is high, and the risk is irrational.

Strengths and Weaknesses