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Online trading has become a popular activity these days because anyone who trades efficiently and wisely can make some quick profits. If you want to be a successful trader, you first need to choose a legitimate and dependable brokerage that can give you access to the financial markets. But, which one do you choose? This answer can be difficult because there are numerous platforms that have been founded and not all of them are authentic. In fact, scam brokers also exist, as this Tvision review will show, but most people do not know how to identify them.
As a matter of fact, this is one of the primary reasons why they end up becoming victims of these fraudulent schemes and lose their hard-earned money. Who wants to lose their money? Absolutely no one and the only way to prevent it from happening is to learn how to identify an impostor and scam brokerage. No, you do not need to be an expert in online trading to figure this out because some signs are very obvious. The only thing you need to do is make a little effort and give it some time and you will be able to find the answer.
Bear in mind that you will not be able to tell that a website is a scam just by looking at it. Designing a website is pretty easy these days, so it cannot be used as a measure of determining a broker’s credibility. Likewise, the claims that a company makes cannot be trusted either because no scam is going to admit to its reality. It will be your job to figure out the truth and you can do this once you know what to look for. When you come across the Tvision website, you will not find something immediately wrong with it. Nonetheless, you have to know what to look for in order to uncover the truth.
What makes Tvision a scam? You can find the details below:
Signing up with an online broker is an important decision because not only do they give you access to the financial markets and provide the tools needed for trading, they also take responsibility of your money and your data. Would you trust anyone with your funds and information? In today’s day and age, you cannot do so without knowing exactly who is on the other end and this also applies to brokerages. You need to know some corporate background and other relevant details about Tvision before trusting them with anything.
It is a good idea to do so because you will quickly learn that Tvision is an anonymous broker that does not provide you any background or details. No authentic brokerage would ever do so because they are required to be transparent and open with their clients. When you go through the presentation on the Tvision website, you will find it severely lacking in terms of the company running the brokerage and about its location as well.
Hence, you cannot even check its licensing and regulation because you have absolutely no idea where Tvision is based. The only clue that you will come across about their possible location is in their Terms and Conditions, where they have mentioned the Estonian Governing Laws. But, this does not mean that the brokerage is based and licensed in Estonia either because it is breaking some laws that are applicable in the EU territory. To put it simply, you are dealing with a completely anonymous broker.
When you go through the offerings on the Tvision website, you will discover that they are promising trading bonuses to their clients. This can be quite attractive for traders, who would want to take advantage of it right away. However, you should note that trading bonuses have been banned in a number of jurisdictions, which also includes the European Union.
Regulatory authorities decided to ban this practice because trading bonuses were accompanied by policies that were deemed malicious. The same is true for Tvision because it also has a bonus policy, which dictates that traders have to meet minimum volume requirements before they are allowed withdrawal. The requirements are deliberately kept at such a level that makes it difficult for traders to achieve them. Even if they come close, these brokers tend to change them, so you are never able to withdraw at all.
One of the most important and vital features that a broker offers is the trading platform because you have to use it for all your trading activities and it provides you the tools you need. Therefore, it is unfortunate that Tvision is offering a primitive web-based platform that does not really offer anything. As a matter of fact, it is quite common amongst shady brokers because it does not really offer anything sophisticated and is just a basic platform.
Another indication that you are not dealing with an authentic brokerage is the high levels of leverage that Tvision is offering to its clients. The broker claims to offer leverage from 1:100 to 1:500, which are ratios that are banned in most jurisdictions including the EU. This is another indication that you are dealing with a broker that cannot be trusted in any way because it is clearly trying to exploit its customers.
When you decide to trade in the financial markets, it is obviously with the goal of making the most money and that means keeping your costs low. Unfortunately, this is not something you will be able to accomplish when you sign up with Tvision because they have hefty transaction fees associated with withdrawal. Most brokers waive off this fee in good faith, but Tvision has not done so. To top it off, they also have a 10% fee on inactive accounts, which is also excessive. Plus, it also charges a levy on accounts that have not met some minimum trading volume requirements, which is also a practice of scammers.
Considering the massive flaws in Tvision’s offerings, you can conclude that it is a scam broker.