Score
Tradingnetwork
Dominica|2-5 years| http://tradingnetwork.co/
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No valid regulatory information, please be aware of the risk!
Single Core
1G
40G
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Wabbit Group LTD
Tradingnetwork
Dominica
Pyramid scheme complaint
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- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
WikiFX Verification
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:100 |
| Minimum Deposit | $50.000 |
| Minimum Spread | 0.4 |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:200 |
| Minimum Deposit | $15.000 |
| Minimum Spread | 0.4 |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:400 |
| Minimum Deposit | $2.000 |
| Minimum Spread | 1.4 |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 0.01 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
| Benchmark | -- |
|---|---|
| Maximum Leverage | 1:500 |
| Minimum Deposit | $250 |
| Minimum Spread | 2.4 |
| Products | -- |
| Currency | -- |
|---|---|
| Minimum Position | 0.0001 |
| Supported EA | |
| Depositing Method | -- |
| Withdrawal Method | -- |
| Commission | -- |
- Fundamental Item(A)
- Total Supplementary Items(B)
- Debt Amount(C)
- Non-Fixed Capital(A)+(B)-(C)=(D)
- Relative amount of risk(E)
- Market Risk
- Transaction Risk
- Underlying Risk
Capital
$(USD)
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Tradingnetwork · Company Summary
Note: Tradingnetwork is to operate via the website - http://tradingnetwork.co/, which is currently not yet functional and no information about the company was immediately available. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information & Regulation
| Feature | Detail |
| Regulation | No Regulation |
| Market Instrument | Forex currency pair |
| Account Type | MEGA, GIGA, TERA and PETA |
| Demo Account | N/A |
| Maximum Leverage | MEGA: 1:500 | GIGA: 1:400 | TERA: 1:200 | PETA: 1:100 |
| Spread | MEGA: from 2.4 pips | GIGA: from 1.4 pips | TERA & PETA: from 0.4 pips |
| Commission | N/A |
| Trading Platform | MT4 |
| Minimum Deposit | $250 |
| Deposit & Withdrawal Method | Credit/Debit cards & Bitcoin |
Tradingnetwork, a trading name of Wabbit Group LTD, is allegedly a forex broker registered in Dominica that claims to provide its clients with flexible leverage up to 1:500 and floating spreads from 0.4 pips on the MT4 trading platform via 4 different live account types.
As for regulation, it has been verified that Tradingnetwork currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.32/10. Please be aware of the risk.
Market Instruments
Tradingnetwork advertises that it is a forex broker that mainly offers forex currency pairs trading. However, more specific information about tradable assets cannot be found on the Internet.
Account Types
Tradingnetwork claims to offer 4 types of trading accounts - MEGA, GIGA, TERA and PETA, with minimum initial deposit requirements of $250, $2,000, $15,000 and $50,000 respectively. In comparison, licensed brokers allow setting up a starter account with a minimum deposit of $100 or even less.
Leverage
The default leverage at Tradingnetwork is 1:100 and can be adjusted based on the account type. Clients on the MEGA account can enjoy the maximum leverage of 1:500, while the GIGA, TERA and PETA accounts have a relatively lower leverage ratio of 1:400, 1:200 and 1:100 separately. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.
Spreads
All spreads with Tradingnetwork are a floating type and scaled with the accounts offered. Specifically, the spread starts from 2.4 pips on the MEGA account, from 1.4 pips on the GIGA account, and from 0.4 pips on the TERA and PETA accounts. However, as its trading platform shows, the EUR/USD spread is 3 pips.
Trading Platform Available
The platform available for trading at Tradingnetwork is one of the most notable and preferred trading platforms the market offers - MetaTrader4. This trading terminal is highly praised by traders and brokers alike due to its ease of use and great functionality. The MT4 offers top-notch charting and flexible customization options. It is especially popular for its automated trading bots, a.k.a. Expert Advisors.
Deposit & Withdrawal
Tradingnetwork says to work with numerous means of deposit and withdrawal choices, but the only actual options are Credit/Debit cards and Bitcoin. The minimum initial deposit requirement is said to be $250.
Bonuses & Fees
Tradingnetwork claims to offer three types of bonuses. In any case, you should be very cautious if you receive a bonus. Bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Note that brokers are prohibited from using bonuses and promotions by all leading regulators.
Still, the broker claims that fees might incur. However, no specific information is disclosed.
Customer Support
The only way you can approach Tradingnetwork is via email: support@tradingnetwork.co. However, this broker doesnt disclose other more direct contact information like telephone numbers or the company address that most transparent brokers offer.
Pros & Cons
| Pros | Cons |
| • Multiple account types options | • No regulation |
| • Flexible leverage up to 1:500 | • Website inaccessible |
| • MT4 supported | • High minimum initial deposit required |
Frequently Asked Questions (FAQs)
| Q 1: | Is Tradingnetwork regulated？ |
| A 1: | No. It has been verified that Tradingnetwork currently has no valid regulation. |
| Q 2: | Does Tradingnetwork offer the industry-standard MT4 & MT5？ |
| A 2: | Yes. Tradingnetwork offers the leading MT4. |
| Q 3: | What is the minimum deposit for Tradingnetwork？ |
| A 3: | The minimum initial deposit to open a MEGA account is $250, while the GIGA, TERA and PETA accounts require a minimum deposit of $2,000, $15,000 and $50,000 respectively. |
| Q 4: | Does Tradingnetwork charge a fee？ |
| A 4: | Yes. Like every forex broker, Tradingnetwork charges a spread fee as well as some unspecified fees. |
| Q 5: | Is Tradingnetwork a good broker for beginners？ |
| A 5: | No. Tradingnetwork is not a good choice for beginners. Although it offers the industry-standard MT4 trading platform, the lack of legitimate regulation is the truth and the initial deposit amount is also too high for beginners. |
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