A broker claiming to have 10 million clients without possessing a license is highly suspicious. Moreover, the near absence of online reviews and legal documentation raises further concerns. At first glance, DeTrade may appear to be an intriguing and profitable trading platform; however, it is advisable not to trust this scam, and here’s why.
Brief Overview
- 🖥Official Website: https://detrade.com/
- ✈️Contact Address: Comoros Islands
- 📞Customer Support: [email protected]
- 🔐Licensing and Accreditation: MISA
- ⏳Track Record: 2024
- 🧰Specialization: brokerage service
- 🤝Terms of Cooperation: $10, 1:1000
- 💰Additional Services: binary option trading
Detrade.com Examination
Let’s start the review by examining the company’s official website. The fonts are large, almost as if they’re trying too hard to grab attention, yet the site lacks a sense of reliability and professionalism. The design and overall layout look terrible and cheap.
The site’s content raises questions. Errors and typos are glaringly obvious: words are stuck together, and some spaces are missing. This shows that the website was thrown together hastily, without proper attention to detail. Any respectable company takes care to ensure high-quality text, as this builds trust in the brand. Here, it feels like they even skimped on a spell check.
The site menu is another point worth noting. The structure is incredibly confusing. Why is the section on licensing located under “Beginner”? The “Transaction Overview” contains information about the platform and some legal documents — a complete mess. Some sections don’t work at all, like “Deposit”.
Additionally, essential information about the firm’s operations is missing. Real brokers usually provide extensive information about their services, detailed explanations of terms, and a clear security policy. Here, it seems they’ve deliberately omitted details, urging the user to just click “Create Account”. Everything funnels towards one goal — quickly getting users to sign up and deposit money.
In short, DeTrade’s website offers a bare minimum of useful information, a heap of pseudo-benefits and fake claims, confusing navigation, awful design, and sloppy text.
Company Contacts
The contact section contains no actual contact information. There’s only a feedback form. The email [email protected] is buried in the user agreement. Why is it there? Why not at the bottom of the site or in the contact section? Then again, it doesn’t really matter — the email address itself turned out to be fake.
DeTrade has no contact information, no addresses, no online chat, and no social media accounts. How is one supposed to reach the broker’s managers? It’s clear the company doesn’t want potential clients reaching out at all.
Key Conditions
The main feature of DeTrade is its two-in-one tool. Clients have access to not only traditional margin trading but also binary options trading. However, the company only offers cryptocurrencies, primarily memecoins.
The main terms are as follows:
- The minimum deposit is $10.
- The minimum order volume is $1.
- The leverage 1:1000.
- Call/Put options only.
The trading conditions are designed to be very accessible so that anyone can make a deposit and try their “luck” on the financial markets. There’s no other way to describe binary options and a 1:1000 leverage. DeTrade fully understands that such conditions give clients no real chance for success.
Another clear sign of a scam is that deposits can only be made via cryptocurrency. The company doesn’t accept bank cards or wire transfers; only digital currency. This allows the platform’s creators to remain anonymous and keep their real identities hidden. Moreover, cryptocurrency transactions cannot be reversed, so the option of a chargeback simply isn’t available.
There’s nothing else notable in the trading conditions. However, DeTrade offers an affiliate program in the “RevShare” format. In other words, the company pays a partner if their referral makes a deposit. The firm shares “profits” with partners who bring in new traders. This creates a conflict of interest, as the platform benefits from users losing money — this is how it profits. Trading here is pointless, as the broker is set up against you.
Exposing DeTrade
What’s wrong with this company? Why shouldn’t it be trusted? Let’s break it down. The legal entity is called Nexus Play LLC, registered in the Comoros Islands and holding a license from MISA. And that’s true. This firm is indeed listed under MISA with the number BFX2024137.
However, MISA is not a genuine regulator. Unlike serious organizations like the FCA or CySEC, which scrutinize companies, demand transparency, and protect clients’ interests, MISA is more of a facade for brokers wanting to bypass strict oversight. It issues licenses but lacks real oversight capabilities, doesn’t intervene in disputes, and can’t protect investors.
Companies “regulated” by MISA typically operate without transparent terms or accountability to clients, knowing they won’t face penalties for violations. It’s a kind of “legal loophole” for those seeking minimal oversight. If you see a broker under MISA’s umbrella, it’s best to steer clear and choose firms with reputable licenses.
Therefore, it’s not worth seriously considering companies with such “licenses”. Moreover, DeTrade has only been operating since July 2024 — a very short time. In four months, it’s impossible to establish a reputable brokerage with 10 million clients, so they’re also lying.
What Reviews Do Users Leave?
If you searched for reviews about DeTrade and found nothing, that’s okay. The scammers launched their platform recently, and they have no clients, so it makes sense there are no reviews. Additionally, the internet is full of comments about companies with the same or very similar names, further highlighting the risks of trading here.
Conclusions
DeTrade is just another broker that lures clients with big numbers and attractive terms, but in reality, it’s a setup. The lack of a serious regulatory license, fake contact information, and exclusive use of cryptocurrency — all are clear signs of a scam. Add in excessive leverage and binary options, and it becomes clear that clients stand almost no chance here. If you value your money, it’s best to avoid this casino.
Pros/Cons
- The firm is indeed registered with MISA.
- Availability of a demo account.
- The firm is not popular among traders.
- Short operational history.
- No license from reputable and authoritative regulators.
- High risk of losing money.
I recommend not even attempting to trade here. I tried with $100 – it’s pointless! The price quotes are fake. The platform is set up so the price chart always moves against you. I tried to make a profit but couldn’t. The scammers literally manipulated the charts to drain my funds. Unfortunately, there’s no profit to be made. Just forget about trading here. They’re devious and unscrupulous fraudsters who won’t give you a chance to earn. And if you do manage to make a profit, you won’t be able to withdraw it.