General Information & Regulation
TD BRA Trade is an online broke registered in Canada, with the founding time, actual address, and the company behind it not disclosed to all. No regulatory license details are displayed on the Platinum VFX website, which means this broker is an unregulated one, so it is unsafe to trade with this broker.
Market Instruments
TD BRA Trade advertises that it can offers forex currency pairs as well as indices, commodities, stocks, metals are not available.
Minimum Deposit
In terms of minimum initial deposit, TD BRA Trade requires a minimum initial deposit of $500, which is much higher than the industry standard. Most legit brokers require an account opening amount of $100 or even much less.
Leverage
With respect to trading leverage, the maximum leverage level offered by TD BRA Trade for forex trading is up to 1:000, which is considered high. Since leverage can amplify gains as well as losses, inexperienced traders are not advised to use too high leverage in case of fund losses.
Spreads & Commissions
TD BRA Trade advertises that it offers super low spreads, but it does not specify spreads on particular instruments. This is the widely used tactic by unregulated brokers, trying to attract new traders and then scam them.
Trading Platform Available
In terms of trading platform available, What TD BRA Trade offers to its traders is not the MT4 or MT5 trading platform. Maybe some web-based or mobile app platform, we have no clue about it.
How does scams Work？
The scam really works when the reps of the broker contact the user, either through a phone call or an email address. They will start asking for deposits all the while promising super profit gains. Those that deposit might even get a taste of false gains, whose true purpose is to compel the client to deposit more. These scammers know very well how to manipulate users. Their catalogue of psychological trickery is vast, and their patience is unbreakable.
