According to the website, the brokerage platform is managed by Nexus Play LLC. It encourages potential clients to “join the more than 10 million traders trading worldwide.” The firm also claims to use advanced technology to provide “the best customer service” and is MISA licensed.
Is there a catch behind these tempting offers? In our DeTrade review, we will analyze the broker and conclude its reliability.
How to Trade
The company offers a proprietary terminal as a trading support. CFDs on forex and cryptocurrencies are available for clients to make transactions on this platform. Trading conditions are as follows:
- Minimum deposit from $10.
- Maximum leverage up to 1:1000.
- Trading pairs BTC/USD, ETH/USD, and others.
- Up to 70% of income on the affiliate program.
- Bonuses, promotions, and competitions.
The company guarantees easy earnings when investing in binary options. You can deposit and withdraw funds on detrade.com only in digital currencies.
Additionally, the firm provides trading strategies, tutorials, and guides. A feedback form provides tech support assistance.
DeTrade Vital Info
It is unknown how long the broker has been in business and who runs the company. However, a domain check shows that it was registered a long time ago, in 2006. This means that the firm has owned the site for almost 18 years. Is this the case? We doubt it. Please note that the long history of the project is the first thing that legal financial intermediaries talk about on their website, but for some reason they hide it here. It is possible that the domain name renewed in May 2024 was bought by this firm or it was engaged in other activities.
Where is Nexus Play LLC located and who regulates it? Why does its domain name not match the company name? We found that this brokerage company with this name does indeed operate detrade.com. In addition, it is authorized by the Mwali Investment Services Authority (MISA) and has license number BFX2024137 dated July 10, 2024. Besides, its headquarters is located in Jiangsu, China and the company is owned by Mr. Ling Fengqi. However, in the UK there is a well-known organization with the brand Nexus Play LLC, which operates in the legal field, but deals with game mechanics in virtual space and has nothing to do with the hero of our review.
I'm trying to withdraw money from here for the second time, but it was again delayed for 2 weeks... I'm disappointed... I opened an account on detrade.com, the registration took a long time, even I waited half an hour for the confirmation email link.... then I went through verification before making a deposit, but they checked the documents for 5 days... Perhaps Detrade would be better off not doing brokerage.... I invested 500 ETH and I decided to withdraw some of the profit - 75 ETH, after a month... I asked to withdraw the money... but I received it only after 12 days... I thought maybe it was a delay for the first time... I continued trading... I tried to withdraw 250 ETH, but the money never came... 15 days have already passed since my request... That's why I'm writing this review about Detrade... I am very offended... I think it is a bad service... I want all traders to know that it is a fraudulent company, it has been cheating people for many years... I am waiting for the withdrawal and then I will find a reliable company... I will not deal with such unscrupulous scam projects....
I don't know, maybe this broker was letting someone make money to get a positive review, but these scammers at detrade.com just doesn't place orders on the market, all clients' funds revolve only on their site, and nothing goes beyond this resource. I realized this when I made two identical predictions on detrade.com and in another company: on De Trade there was a loss, and in the other company there was a profit. Scammers! This means that if someone made money here, the broker spent its clients' money and not its own, honest trading earnings are not possible here! I lost 456 XRP in 3 days thanks to their “help”. Not recommended.
Overall, after a week of trading on detrade.com, I was satisfied despite some shortcomings. With a wide range of cryptocurrencies to choose from and reliable payouts, you shouldn't ask for more from a broker. One drawback is the limited choice of account currency, as the broker only allows you to open an account with crypto, but I would like to have more fiat funds. However, the company is working in this direction. In addition, I had to wait a long time for verification confirmation. I would like to say that Detrade’s employees speak different languages. For someone, having Turkish-speaking support may be helpful because many people from Turkey now live in different countries and need more money.
I have been trading on detrade.com for a long time and I have no complaints about the functionality or other aspects. Payouts are fine, the money always arrives on time. I can emphasize the accurate display of charts, which helps to quickly react to changes in the financial market on the selected asset. In addition, the personal cabinet is simple and convenient to work with the trading terminal. There are no unnecessary elements here that could prevent me from navigating the platform. So you can make money on detrade.com, but you need to devote quite a lot of time to analyzing, and the platform has everything you need for that. In my opinion, trading on detrade.com is suitable for both a beginner and an experienced trader.
These guys turned out to be just scammers. I set a stop loss at 15% of my deposit, but it didn't work and my account dropped by 30%. The support staff said there is a problem on my end..and they can't help.
These are the real scammers!!! Constant requotes happen on detrade.com.I place an order with one price, and when it is executed, it is completely different, and of course, it is NEVER in my favor!! I tried to figure it out, but tech support promises to help me and does nothing. Result: I lost the amount equal to 2.56k dollars for 2 weeks.
I believe that it is much safer for traders to deal with European intermediaries that are on the registers of official broker regulators. This aspect concerns EU citizens and is a personal choice of each person. However, I do not like foreign companies, especially offshore ones, for example, with licenses from Mwali, Grenada, Belize, Vanuatu, or the Commonwealth of Dominica. Today they may be worthy partners, but tomorrow they can turn into a scam and take your money, this applies to Detrade as well. Regulators in these jurisdictions do not provide full safety and reliability. I know cases when brokers, even those with FCA licenses, have committed fraudulent actions against traders. So, regulation will not solve the problem. So, forget detrade.com and trade with European companies to keep your money safe.
You need to choose a reliable intermediary. Many different companies exist in the forex market, but I chose DETRADE. I attribute my choice to many reasons including regulation, experience and my partnership with Mildred Thomas (a popular trainer) who invited me to this platform. I can't attest to the credibility of binary trading (it’s so gambling), but DETRADE has an extensive affiliate program, not only for retail traders but also for institutional clients. This means that the broker is ready for major partnerships. It seems to me that such partnerships already exist. This company does not appear to be fraudulent, which is also important. For example, a very simple division into different types of accounts is not here, where you get more services by making a larger deposit. Moreover, there is a minimum deposit amount of only $10 here, not $250 like many scam projects. However, I am worried because of the EU ban, so I don't risk putting a lot of money into trading and I don't invest anything in binary options, although the company promises big profits.
Guys, what do you say regarding the refund, is there any chance? Or should I accept the loss of my 0.00816 BTC and not even try to contact the offshore regulator? The amount is small, but I hate to lose it.
This is not a broker but a scam. When they first appeared on the market, 5 months ago, it was possible to make money here by trading crypto. However, now it has become impossible to withdraw money from here. I lost 716 ETH! They have everything very well thought out!!! They are brazen and cunning scammers.
I invested 3,420$ here when I saw that I could trade with profit on this terminal,but there were problems with the withdrawal of funds. Broker blocked my account because of rules violation. What rules?! This is my money and the crooks won't give it back! They do not want to talk and do not respond to e-mails. Do not cooperate with these fraudsters! This is a scam!!!
I advise everyone who wants to trade with this broker to be careful! At first glance, the De Trade broker seemed good to me. However, problems occurred after a week of work and I changed my opinion, losing 142 USDT coins...
This intermediary looks like a regular broker, but with elements of parody. The commission percentage, although claimed to be low, in fact still turns out to be unfavorable. Additional write-offs occur during trading, their size is difficult to track. Everything depends on the specific type of token and the situation on the market. It seems to me that De Trade should not have been involved in cryptocurrency, they entered the crypto trading market in vain, it is not their profile, let them continue to engage in gambling business.
I traded here about 3 months ago and I didn't like using this terminal. Now I have found a good broker and I have already forgotten about detrade.com, but I saw this page and decided to leave a comment. I realized that the conditions remained the same and it is clear to me that this service remains at the same low level.