TradeTime Review

Review

TradeTime makes a number of bold statements, including the assertion that they are both an industry leader and innovator. The broker further makes that claim that it has been in operation for seven years, is regulated, and segregates accounts. Unfortunately, TradeTime is unable to back up its assertions; in nearly every case it fails to provide details and/or proof. At the same time, it focuses exclusively on marketing its proprietary trading platform and account customization, both of which come at an elevated cost, that is unless a trader is willing to make a substantial deposit.

TradeTime Review landing page

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Regulation and Security

While TradeTime lacks transparency, the Term & Conditions available at the bottom of each website page links to a PDF where the Bulgarian company, “Capital Process ltd. LTD,” is revealed as the corporate owner. Independent confirmation of that assertion is unavailable; the Bulgarian Chamber of Commerce, the e-Justice portal of the European Union, and Company Informer Bulgaria has no record of a registered entity by this name.

 

Adding to the numerous red flags is the claim that TradeTime is a regulated broker; potential traders should know that the Bulgarian Financial Supervision Commission (FSC) does not provide regulatory oversight. The marketing team at TradeTime instead created a convincing presentation to reassure potential clients of regulatory oversight, but this broker grants no proof of that claim. Interested traders should be extraordinarily cautious when considering TradeTime as an option, with essential documents missing even as the broker makes false claims regarding regulatory oversight.

TradeTime is not transparent regarding its ownership or regulation, with only sparse details available in the Terms & Conditions.

TradeTime Review  lack of transparency

Numerous claims about regulation, segregation of client capital, and fund security are a product of the broker's marketing team.

TradeTime Review claims made by marketing team

TradeTime Review claims made by marketing team

No regulatory record exists for this broker.

TradeTime Review FSC regulatory search results

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Fees

TradeTime features an outrageous cost structure for Forex traders. A $10,000 deposit results in a 2.2 pips spread for the EUR/USD, which is unacceptable by any standard. Lesser deposits see the mark-up increase to 3.3 pips. The ECN account carries a 0.6 pips EUR/USD spread for a commission of $1.80 per CFD. Equity CFDs face a $0.015 cost per share, a slight improvement but elevated, nevertheless. Where account customization dominates marketing to unknown traders, a significant pricing environment persists, regardless of the customization. No mention of swap rates and corporate action exists, extending this broker's ambiguity on essential critical aspects such as regulation and cost structure.

The cost structure favors broker profitability, especially in the Forex market.

TradeTime Review forex cost structure

Equity CFDs provide lower costs, but the general fees at TradeTime are unacceptable.

TradeTime Review equity cfd cost structure

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What Can I Trade

TradeTime offers over 490 assets across Forex, commodities, equity, and index CFDs, but once again, details are scarce. Traders may explore assets with an incomplete list and search box, where one can hazard a guess as to which ones are actually available. Over 60 currency pairs are available, and 400+ equity CFDs form the bulk of tradable instruments. Seven commodities and seven index CFDs complete the selection.

The overall choice of assets is suitable for most retail traders.

 TradeTime Review assets offered

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Account Types

Customized accounts are at the core of marketing efforts. It sounds appealing, but the result is, as expected, far less than advertised. TradeTime merely filters the available assets or highlights the ones it believes you may want to trade. Lack of details is dominant, while everything points toward the submission of personal and financial information with the intent of encouraging a potential trader to open a trading account. The maximum leverage of 1:300 further suggests the broker's lack of regulation, particularly in the EU, where the ESMA limits leverage to 1:30 for retail traders.

Customized accounts represent an adjusted asset filter from the scarce public information, but it is marketed well to unknown traders.

TradeTime Review account customization

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Trading Platforms

TradeTime grants its traders a proprietary trading platform, which is marketed as a superior choice but in actuality lacks essential features. An average charting package meets elegant design. A news feed and in-house generated trading signals are supported. On the whole, it closely resembles typical trading platforms from the now-defunct binary options industry. Finally, the lack of automated trading solutions compounds the short-falls.

The proprietary trading platform resembles that of the failed binary options sub-sector.

TradeTime Review trading platform

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Unique Features

There are no unique features at TradeTime, but the lack of transparency and misleading information is noteworthy.

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Research and Education

In-house research focuses on quantity rather than quality. A one-paragraph introduction leads to chats with a one-sentence explanation. It appears as if the analysis was conducted in the MT4 trading platform, a platform not currently offered by TradeTime, granting further evidence of missing elements of the proprietary trading platform. The absence of education content is unacceptable, especially given this questionable broker's target market. A blog is available but appears discontinued as of January 2020.

Traders receive numerous trading signals per day.

TradeTime Review trading signals

TradeTime focuses on quantity over quality.

TradeTime Review quantity over quality

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Customer Support

Clients may engage customer support via e-mail, phone, and a live chatbot which attempts to collect personal information before responding to inquiries. The chatbot pops up frequently, ruining the user experience. Operating hours are unavailable, while the support center features an FAQ section with limited answers, omitting essential ones.

Customer Support is haphazard and intrusive, at best, and duplicitous, at worst.

TradeTime Review customer support

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Bonuses and Promotions

A $27 no deposit bonus exists, though no additional details are forthcoming.

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Opening an Account

A simple online application asks for a full name, e-mail, and phone number. Clients may also complete this step via Twitter, Facebook, and Google+. It is the first instance where TradeTime references its regulator, the Vanuatu Financial Services Commission (VFSC). No records of Capital Process or TradeTime exist with the VFSC, adding to concerns over the authenticity of this broker.

On the account opening page, TradeTime claims to be regulated by the VFSC.

TradeTime Review account opening process

No record of Capital Process exists at the VFSC.

TradeTime Review VFSC search

A search for TradeTime likewise yields no results.

TradeTime Review VFSC search

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Deposits and Withdrawals

TradeTime merely notes support for bank wires, credit/debit cards, and a range of online payment methods, together with a minimum deposit of $500. A consistent lack of transparency exists throughout the website.

Deposit and Withdrawal information is vague.

TradeTime Review deposit and withdrawal info

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General Information

Company Information

  • Broker's Name : TradeTime
  • Headquarter : Vanuatu
  • Regulation : VFSC

Account Information

  • U.S. Clients Allowed :
  • Minimum Deposit : $500
  • Maximum Leverage : 1:300
  • Commissions / Spreads : Both
  • Account 1 : Custom
  • Demo Account :
  • Islamic Account :
  • Segregated Account :
  • Managed Accounts :
  • Institutional Accounts :
  • Deposit Options :

Instruments Traded

  • ETFs :
  • CFDs :
  • Commodities :
  • Metals :
  • Gold :
  • Binary Options :
  • Indices :

Trading Platforms

  • Type of Platform : Proprietary platform, Web-based
    • Platform Languages :
      • English
    • OS Compatibility :
      • Mobile
      • Web
  • Trading Signals :
  • Charting Package :
  • Market Analysis :
  • Chart Trading :
  • Automated Trading :
  • Scalping :
  • Hedging :
  • Mobile Alerts :
  • E-mail Alerts :
  • Trailing Stops :
  • Guaranteed Stop Loss :
  • Guaranteed Limit Orders :
  • Guaranteed Execution :
  • One-click Execution :
  • OCO Orders :
  • Interest on Margin :
  • Web-based Trading :
  • Mobile Trading :

Customer Support

    • Website Languages :
      • English
  • Support Hours : Unspecified
  • E-mail Support :
  • SMS Support :
  • Chat :

Pros and Cons

  • Customized Trading Accounts
  • Choice of Platforms
  • Suited more for starters
  • Still a relatively new broker

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FAQ

Is TradeTime a legitimate company?

TradeTime claims to be owned by Bulgarian company, Capital Progress, and notes an address in Varna. No official records of this company seem to exist.

Is TradeTime a scam?

Misleading claims about its regulatory oversight, coupled with the apparent lack of transparency, raise grave concerns. Multiple sources label TradeTime a scam. A scam operation is highly probable, given the overall presentation by this broker.

Does TradeTime offer MT4?

No, it only grants its proprietary trading platform, which is a sub-standard alternative.

What is the TradeTime contact number?

The seven contact numbers are +64-48303348, +61-284881087, +34-917936712, +46-840308827, +41-315087562, +44-2031501127, and +33-170726507.

What are the TradeTime financial services?

TradeTime offers CFD trading in an apparent scam, where a demo account simulates all activities.

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Summary

TradeTime appears to operate as a scam. From the start, false claims with a complete lack of transparency are an overriding occurrence. The Terms & Conditions reveal a Bulgarian company as the corporate owner, though numerous searches suggest that no official records exist. The online application form notes regulatory oversight by the Vanuatu Financial Services Commission (VFSC), which is another unverified claim. Together, the details render TradeTime as an unregulated entity using deception to entice new clients. The overpriced cost structure from a sub-standard trading platform adds to an overall unsuitable trading environment. Education is missing, and only low-quality research is provided, while marketing for new clients remains the primary focus at TradeTime. Numerous sources label this broker as a scam and the details and facts uncovered by this review suggest that those claims, that TradeTime is a scam, are not without merit.

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