GateTrade.io is a scam broker that won’t hesitate to steal your €250 or even more. If this broker stole from you by mishandling your investment or closing your account on baseless accusations and failing to return your deposit thereafter, you can claim that money here.
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These brokers typically receive high amounts of deposits in their bank account because they offer the controversial and super-addictive CFDs instruments which are responsible for making traders go bankrupt.
In fact, the more you trade with GateTrade.io, the more you lose money and the more you’ll be tempted to add a new deposit hoping to recover what you’ve lost.
Today, we bust the lies of these internet scammers, ensuring that we expose them to make the retail trading scene a safer place for all participants.
GateTrade.io review and overview
This broker was registered anonymously in January 2023. This domain snooping tool can confirm that.
Gate Trade is claiming to be based in the Netherlands but verification of this address is not possible.
We confirm with the The Netherlands Authority for the Financial Markets to see if this broker is regulated but results are coming back negative.
The website of this regulator can be found here. Interestingly, GateTrade is providing a different kind of website as the regulator for Forex brokers operating in this region.
They’re using a strange website called fincertus.org to attain a ‘regulatory status’. The problem with fincertus.org is that this is a fake regulator.
Fincertus.org claims that they’ve been given the mandate to regulate Forex brokers in the EU. However, this is a big fat lie.
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Therefore, we conclude that GateTrade is a malicious and scam broker trying to achieve legitimacy using lies and misleading information.
How GateTrade will take your money
There’s nothing promising about this broker. If anything, this is not even a solid trading platform. They lack a reputation out there considering that they’re only a couple of weeks old.
In fact, the broker is using a cheap wordpress theme as the front face. This means that they didn’t have a budget to hire a professional web developer. The question is how will a financially-disabled broker promise the safety of your money?
CFDs trading instruments are for gambling and not trading. This is why countries like the US have banned these instruments, thus protecting their citizens from expoitation by doggy brokers like GateTrade.
The broker is always going to take the opposite side of your trades. Trading against clients will always mean the broker has an upper-hand. You can’t beat this broker in their game no matter your experience or trading strategy.
Unfortunately, ‘trading’ of CFDs is so addictive. It keeps victims playing the whole day hoping to make quick profit.
The more you play, the more the broker will deplete your capital. It’s sad that some people will fall into the trap — always making new deposits and hoping that they’ll recover what they have lost.
This never-ending cycle of topping up a trading account on a rogue broker’s platform is what leads to hundreds of thousands of loses.
Wrapping it up
GateTrade is neither legit nor a broker wanting your best interest at heart.
Forget what they’re promising because this is just pure marketing. Once you’re in, your deposit will either be stolen right away or they take it through rigged trading.
Note the Following:Many brokers and so-called investment firms are not honest. If they're illegally holding onto your money, you can easily recover it here.
Your capital is not safe in the hands of these scammers. Think of it like this — a broker that lies and tricks you into signing up is one that has an evil agenda.
They lie about their regulatory status to gain your trust.
This is a scam that is not so obvious to some people. In fact, in the coming days we will be looking to hear complaints from traders who somehow missed this review.
If you have an opinion or experienced with a scam broker, please share it with us down below.
One Response to
The withdrawal has not arrived thus confirming Onyx Traders is a scam.
I think this is typically just another scam where they are not allowing me access to my trading account, and the fact I have over a dozen cards, all of which have been replaced owing to scams like this, it is irrelevant how I paid the £50000. What is more relevant is where they are to transfer the money they are fraudulently withholding.
These companies :-
i-C Trade £10390
have all the relevant official Identity doc, passports, driving licenses, credit cards, etc therefore they have no excuse not to pay back the money I have in the respective accounts to whichever banking facility I prefer.