The site is owned by Bangladesh-based Uptrend Center, as this intermediary points out in client documents. The little-known firm boasts of “cooperation with leading exchanges” and guarantees clients safety and reliability. However, we didn’t find any licenses or proof of incorporation of a legal entity.

Can you trust your money to this CFD platform? We will reveal the real history of this broker in our ToroHive review. Read on and you will find out whether this project is legitimate or not.

How to Trade

The brokerage firm offers “sophisticated technology” that will supposedly give clients “clarity and control over finances.” However, the intermediary does not disclose the type of its platform and asset classes for trading. The company offers the following trading conditions:

  • 5 accounts with minimum deposits ranging from $250 to $250,000.
  • Leverage from 1:30 to 1:500.
  • Spreads from 0.6/3.0 pips.

The affiliate program provides rewards of up to $25,000 for referring one friend. Withdrawal of funds to a cryptocurrency wallet is possible within 7 days.

We were not able to analyze the account registration procedure, as the registration button was not active at the time of our review.

Additionally, the broker provides traders with training, webinars, and a bonus program. In addition, clients with a premium account can receive trading signals.

ToroHive Vital Info

The company does not provide legal documentation and does not disclose when it was founded. Meanwhile, we found the date 13.02.2020, which is listed in the Terms and Conditions for clients. Although the website’s domain was not created until January 2024. Note that the domain name of this platform is torohive.com, and in all the provisions the broker refers to the website globaltrade101.com. Maybe all these Terms were just copied from someone else’s website?

The brokerage firm indicates the address of its office in Bangladesh, so it must be authorized to provide financial services in this jurisdiction. Despite this, we did not find either ToroHive or Uptrend Center in the register of BSEC, which issues brokerage licenses (Bangladesh Securities and Exchange Commission). Moreover, this brand is also absent in the global database of registered organizations. Presumably, the intermediary operates outside the legal framework.

FAQ

What are the key facts about ToroHive?

The broker does not provide information about the company's founders, the platform's launch date, or its financial regulation. According to the site's information, the firm is based in Bangladesh. However, the organization with this name is not in the register of legal entities of this country and in the lists of legal brokers of the BSEC commission.

What's the risk to my wallet when working with this broker?

The firm does not have a license for financial activities, so it may cheat clients and prevent you from withdrawing your money. In addition, you risk losing 100% of your investment when trading CFDs with high leverage. Finally, you will not be able to get your capital back through the bank's chargeback procedure as the transactions take place in cryptocurrency.

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