Is TraderKing Scam or Legit Broker?
No, it is not safe to trade with TraderKing as it is an offshore broker. The broker is owned and operated by a group of companies which have included Lotens Partners LTD, company registration number: 25471 and registered address: Suite 305, Griffith Corporate Centre, P.O. Box 1510, Beachmont, Kingstown, St. Vincent, and the Grenadines.
- However, the fact is that St. Vincent and the Grenadines is an offshore zone, which does register the financial investment firm, but provides very poor if none requirements for the company’s operation. That means, the broker is not regulated, not overseen, and does not comply with strict international rules that provide protective measures to the traders. Therefore, it became an offshore zone for shady forex brokers such as CVC Markets, AAG Markets, and more. Read more about St. Vincent and the Grenadines regulation by the link.
About TraderKing
| 🗺️ Registered in | St. Vincent and the Grenadines |
| 🗺️ Type of License | Offshore License |
| 🛡️ Is TraderKing safe to trade | No |
| 🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
| 🖥 Alternative Broker | FP Markets – licensed by ASIC in Australia |
What is TraderKing?
TraderKing claims to be a reliable global CFD and Forex broker. The broker offers a wide range of tools with over 100 trading instruments, including currency pairs, metals, CFDs, oil, indices, and cryptocurrencies. They also provide clients with a wide range of desktop, web, and mobile trading platforms, including MetaTrader 4.
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Despite an offshore location, the broker somehow provides the UK contact number which got us to question its regulation. It turned out the broker is not regulated in the UK. Moreover, the UK’s Financial Conduct Authority has warned against TraderKing:
“Almost all firms and individuals offering, promoting, or selling financial services or products in the UK have to be authorized by us. This firm is not authorized by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorization.”
- Considering all the facts above it is safe to say TraderKing is not regulated and has no legal rights to offer financial services.
TraderKing Review Conclusion
We advise all investors and traders to avoid TraderKing and other unregulated brokers (See Unregulated Forex Brokers List). The lack of information (or false information) about the broker’s regulation, trading conditions, and contact details should be the biggest red flag for those who plan to invest with the entity. Usually, such companies run investment scams. Traders should trade with well-regulated brokers such as UK brokers or brokers in Cyprus and reliable brokers such as FP Markets and Alpari.
TraderKing Update
Based on our findings, TraderKing website is inactive. This means the broker has muted its trading offering and does not operate. However, we recommend avoiding and staying alert in case of any proposals.