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The WikiFX Score of this broker is reduced because of too many complaints!

Tradition Services Limited

China|Within 1 year|
Suspicious Scope of Business|High potential risk|

https://www.traditionlimited.com/

Website

Rating Index

Contact

support@traditionlimited.com
https://www.traditionlimited.com/
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Contact number

Broker Information

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Company Name

Tradition Services Limited

Company Abbreviation

Tradition Services Limited

Platform registered country and region

China

Company website

Pyramid scheme complaint

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Warning: Low score, please stay away! 3
Previous Detection : 2024-06-16
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!
  • The number of the complaints received by WikiFX have reached 5 for this broker in the past 3 months. Please be aware of the risk!

WikiFX Verification

Tradition Services Limited · WikiFX Survey

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Expose

    Tradition Services Limited · Company Summary

    Tradition Services Limited Review Summary
    Founded 2023
    Regulation Unregulated
    Market Instruments Forex, Index, Energy, Precious metals, Stock, Digital currency
    Demo Account Not Available
    Leverage Up to 1:500
    Trading Platforms ST5
    Minimum Deposit USD/EUR/GBP 50
    Customer Support Email, FAQ

    What is Tradition Services Limited?

    Tradition Services Limited, established in 2023, operates as a brokerage firm providing a range of financial instruments to clients, including Forex, Index, Energy, Precious metals, Stocks, and Digital currency. Notably, the company lacks valid regulatory approval from recognized financial bodies at present.

    Tradition Services Limited's homepage

    In the upcoming article, we will comprehensively analyze this broker's attributes from various angles, delivering clear and well-organized information. If you find this topic intriguing, we encourage you to continue reading. At the conclusion of the article, we will provide a concise summary to offer you a quick grasp of the broker's key features.

    Pros & Cons

    Pros Cons
    Wide range of market instrument Unregulated
    Affordable minimum deposit No MT4/5 platforms
    Zero commission for forex and precious metals Limited customer support
    Relative new player in financial market

    Pros:

    • Wide Range of Market Instruments: Tradition Services Limited offers a diverse selection of market instruments, including forex, precious metals, and more, providing traders with ample opportunities for diversification.

    • Affordable Minimum Deposit: With an affordable minimum deposit requirement at USD/EUR/GBP 50, the broker enables access to trading for a broader range of investors, including those with limited capital.

    • Zero Commission for Forex and Precious Metals: Clients can trade Forex and precious metals without incurring commission fees, reducing trading costs and enhancing profitability.

    Cons:

    • Unregulated: The lack of regulation from recognized authorities raises concerns about investor protection and financial transparency, exposing clients to higher risks.

    • No MT4/MT5 Platforms: The absence of widely-used trading platforms like MetaTrader 4/5 can inconvenience traders who rely on these platforms for their advanced features and functionality.

    • Limited Customer Support: Tradition Services Limited provides only limited customer support channels by email and FAQ, which will result in delayed responses or inadequate assistance for clients in need.

    • Relative New Player in Financial Market: As a relatively new player in the financial market in 2023, Tradition Services Limited lacks the established reputation and track record compared to more seasoned brokers, affecting client trust and confidence.

    Is Tradition Services Limited Legit or a Scam?

    When considering the safety of a brokerage like Tradition Services Limited or any other platform, it's important to conduct thorough research and consider various factors.

    • Regulatory sight: The absence of valid regulations under which the broker operates signifies potential risks, as it lacks the guarantee of comprehensive protection for traders engaging on its platform.

    No license
    • User feedback: To get a deeper understanding of the brokerage, it is suggested that traders explore reviews and feedback from existing clients. These shared insights and experiences from users can be accessed on reputable websites and discussion platforms.

    • Security measures: Tradition Services Limited implements segregated accounts as a key security measure. Client funds are kept separate from the company's operational funds, ensuring that clients' assets are protected in the event of insolvency or financial difficulties, providing an extra layer of security and peace of mind.

    Ultimately, the choice to trade with Tradition Services Limited is a personal decision. It is important to thoroughly assess the risks and benefits before arriving at a conclusion.

    Market Instruments

    Tradition Services Limited offers a diverse range of market instruments across various categories to meet the needs of its clients.

    Forex: Clients can trade in more than 30 foreign exchange market, accessing major currency pairs like EUR/USD, GBP/USD, and USD/JPY, as well as exotic currency pairs, with competitive spreads and leverage options.

    Index: Tradition Services Limited provides access to a variety of global stock market indices such as the S&P 500, FTSE 100, and Nikkei 225, allowing clients to speculate on the performance of entire markets.

    Energy: Clients can trade energy commodities such as crude oil and natural gas, benefiting from price fluctuations in these essential resources and diversifying their investment portfolios.

    Precious Metals: The broker offers trading in precious metals like gold, silver, platinum, and palladium, allowing clients to hedge against inflation, geopolitical uncertainties, and currency devaluation.

    Stock: Clients can invest in individual stocks listed on major exchanges worldwide, enabling them to capitalize on company-specific opportunities and trends in the equity markets.

    Digital Currency: Tradition Services Limited facilitates trading in digital currencies like Bitcoin, Ethereum, and Litecoin, providing exposure to the rapidly evolving cryptocurrency market and its potential for high volatility and returns.

    Market Instruments

    Accounts

    Tradition Services Limited does not disclose specific account types, but it sets a minimum deposit requirement of $50, €50, or £50, allowing clients to start trading with a relatively small initial investment.

    How to Open an Account?

    To open an account with Tradition Services Limited, you have to follow below steps:

    • Visit the Tradition Services Limited website, locate and click on the 'Register button on the right corner of the mainpage.

    click on the 'Register button
    • Fill in the necessary personal details required and choose an account type.

    fill in required info
    • Complete any verification process for security purposes.

    • Once your account has been approved, you can set up your investment preferences and start trading.

    Leverage

    Tradition Services Limited offers leverage of up to 1:500, providing clients with the opportunity to amplify their trading positions with a relatively small amount of capital. This high leverage ratio allows traders to potentially maximize their profits from market movements while managing their risk exposure effectively.

    However, it's important to be cautious when utilizing leverage, as it can also magnify losses.

    Trading Platform

    Tradition Services Limited provides its clients with access to the ST5 trading platform, available for both iOS and Android devices.

    With the iOS version, users can enjoy the convenience of a native app optimized for iPhones, delivering full ST5 account functionality at their fingertips. The platform offers three chart types and 30 technical indicators, empowering traders with comprehensive analytical tools to make informed decisions. Additionally, clients benefit from a complete historical transaction log and built-in news features with push notifications, ensuring they stay updated on market developments.

    On the Android platform, users also experience a native app with full ST5 account functionality, along with the same array of chart types and technical indicators. The live interactive charts with zoom and scroll functions further enhance the trading experience, allowing clients to analyze market trends and execute trades with precision and confidence.

    ST5

    Trading Tools

    Tradition Services Limited offers a comprehensive calendar of finance and economics as part of its suite of trading tools. This calendar provides clients with valuable insights into key economic events, financial announcements, and market-moving data releases. Traders can utilize this resource to stay informed about important developments that impact their trading strategies, such as central bank meetings, GDP reports, employment figures, and inflation data.

    Calendar of finance and economics

    Deposit & Withdrawal

    Tradition Services Limited offers a variety of convenient payment methods for its clients, including Visa, Maestro, Mastercard, VPay, Skrill, and bank transfer.

    The broker does not charge any deposit fees, ensuring that clients can fund their accounts without additional costs.

    Clients are also entitled to one free withdrawal per day, with requests accepted at any time. However, withdrawals made after 2:00 GMT will be processed on the following business day, with a turnaround time of 1-2 working days for most withdrawal methods. While wire transfers and debit/credit card withdrawals may take 3-5 business days for processing, international wire transfers (TT) can take 3-8 business days due to varying banking procedures.

    It's important to note that withdrawals exceeding the maximum daily or weekly limit will incur a fee of $35 per withdrawal.

    Payment Options

    Customer Service

    Tradition Services Limited offers limited customer support through an FAQ section and email. While the FAQ provides answers to common queries, clients can also reach out via email for assistance.

    However, the availability of customer support channels is quite limited compared to other brokers which might take longer time for response when they need support.

    Email: support@traditionlimited.com.

    Contact info

    Conclusion

    Tradition Services Limited is a brokerage firm provides traders with access to Forex, Index, Energy, Precious metals, Stocks, and Digital currency markets. However, the absence of regulation from recognized authorities raises concerns for investors. Regulation is crucial for financial oversight and client protection.

    Therefore, individuals should be prudent and carry out full research, consider regulated alternatives prioritizing transparency, security, and client protection before choosing Tradition Services Limited as their broker.

    Frequently Asked Questions (FAQs)

    Question 1: Is Tradition Services Limited regulated?
    Answer 1: No. It has been verified that this broker is currently under no valid regulation.
    Question 2: Does Tradition Services Limited offer demo account?
    Answer 2: No.
    Question 3: Is Tradition Services Limited a good broker for beginners?
    Answer 3: No. It is not a good choice for beginners because it is unregulated by any recognized financial authorities. Furthermore, its limited customer support also deters beginners to get timely assistance when they have queries.
    Question 4: Does Tradition Services Limited offer the industry leading MT4 & MT5?
    Answer 4: No.
    Question 5: Whats the minimum deposit does Tradition Services Limited request?
    Answer 5: Tradition Services Limited requires a minimum deposit from USD/EUR/GBP 50.

    Risk Warning

    Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

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