TradeFred Review

TradeFred Review

OK, this is a short review but that is mostly because I’m really not sure about this site.

(Note to Fred Done – if you read this, please see below some ideas on how you can improve).


TradeFred

  • arrow_forwardThe “New Forex and CFDs trading website”? err… UK brand but no financial spread betting? Doesn’t make sense
  • arrow_forwardWe have no issues with the Betfred brand as a bookie, the “bonus king” is not my favourite bookie but I’ve not heard bad things about them either

The Big Issue: Regulation in Vanuatu

TradeFred is a partnership between Betfred and Vanuatu-registered “MagicPath Capital”.

However… MagicPath Capital is listed as the owner of the TradeFred brand and, according to LeapRate, TradeFred “only holds a licence issued by the Vanuatu Financial Services Commission and is not cleared for operations in the UK or Europe”

TradeFred also lists a UK based firm, PathMagic Capital, on the platform. It says “that is where the merchant has an additional permanent location and conducts business activities in Europe”.

This is all a bit grey to me.


Where is Vanuatu?

Glad you asked… this brand is regulated here:

Vanuatu


Trust?

The new platform also says, “your trusted trading partner” – come along now. Please get regulated by the FCA so we know our funds are safe (up to £50,000 FSCS).


Low Leverage

And sorry, the leverage is pretty low:
  • arrow_forwardUp to x50 for forex
  • arrow_forwardUp to x25 for stock indices
  • arrow_forwardUp to x25 for metals
  • arrow_forwardUp to x25 for crude oil
The above leverage levels are actually inline with what the FCA (UK regulator) wants. However, the FCA haven’t said you have to go that low yet.

And I can’t see many traders having much love for such low levels of leverage.


Fred Done are you Listening?

This is not a great move for your brand. Pop on to LinkedIn and talk to someone in the industry who knows about spread betting, CFDs and forex. I.e. don’t take our advice, get some other advice on how to improve your service.

Adjust your pricing, leverage and get properly regulated. At least then you’ll have a chance of being treated seriously by investors.

We look forward to writing a more positive review about you.

For more, go to TradeFred.com


AuthorAlex Turner

Senior Editor, SpreadBetMagazine

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