In this review, we’ll uncover what lies behind the flashy facade of the brokerage company ToroHive. The broker is registered in an unusual location: Bangladesh — or at least, that’s the address listed on their official website. We’ll examine this claim and other details to determine whether this platform is a safe place for trading or just another standard scam.
Brief Overview
- 🖥Official Website: https://torohive.com/
- ✈️Contact Address: 1012 Pebda Parkway, Mirpur 2, Dhaka, Bangladesh
- 📞Customer Support: 3108415500, [email protected]
- 🔐Licensing and Accreditation: no
- ⏳Track Record: 2024
- 🧰Specialization: brokerage service
- 🤝Terms of Cooperation: $250, 1:500
- 💰Additional Services: referral program, debit card, VIP program
Torohive.com Examination
Let’s start by taking a look at the official website. Right off the bat, it’s clear that the site was built using a template commonly seen among brokers. The pattern is unmistakable — all companies with such template-based websites have turned out to be illegal and fraudulent. We have little reason to believe ToroHive is any different.
If this were a professional broker, why not invest in a more modern and high-quality design? Even the most basic level of presentation is missing here. The images plastered across the website also raised eyebrows. They’re clearly taken from free stock image libraries, designed more to “decorate” than to inform.
The content consists of lofty statements that explain nothing. “We create comfort and safety for clients”. What does that even mean? Where are the specifics? The text is riddled with stylistic errors and typos, which further confirm that the site was thrown together without care or attention to detail. ToroHive has stuffed it with meaningless and pompous phrases — a classic hallmark of an illegitimate company.
The icons of major exchanges, such as Binance and Kraken, feel completely out of place. It’s hard to believe that these platforms have any actual connection to ToroHive. This seems more like an attempt to bolster their credibility by piggybacking on the reputation of others. Anyone can slap logos on their site, but that doesn’t prove anything.
In summary, this is a prime example of how not to design a broker’s website. It raises more questions than it answers. The impression is that its primary purpose is to lure in beginners who won’t bother digging deeper. If a company can’t even create a proper website, how can you trust them with your money?
Company Contacts
Now, let’s address the listed address in Dhaka, Bangladesh. This is odd in itself for a “respected online trading partner” positioning itself as an international broker. It’s an unusual jurisdiction for a company’s headquarters. However, the real red flags lie elsewhere. For example, ToroHive’s email address turned out to be fake — it doesn’t exist, so there’s no point even trying to reach them that way.
A phone number is listed, but it’s suspiciously missing the country code. This could be a deliberate move to make verification more difficult. There are also no social media accounts, which is a huge downside for any modern company. Additionally, there’s no online chat feature, a vital tool for providing quick support and resolving client issues.
Key Conditions
The first thing that stands out is the minimum deposit. For a basic account, they ask for $250. This is standard for fraudulent companies targeting mass appeal and trying to lure in as many beginners as possible. However, the subsequent conditions are shocking. For the “Silver” account, the minimum deposit jumps to $10,000. Why such a drastic increase? It seems illogical and strongly resembles an attempt to extract as much money as quickly as possible.
The situation with “Gold”, “Platinum”, and “VIP” accounts is even worse. The deposit requirements rise to $50,000, $100,000, and $250,000, respectively. These are unrealistically high amounts for the average trader. And for this money, clients receive only slightly improved conditions — marginally lower spreads and a bit more attention from a manager. Do these perks justify such investments? Highly unlikely.
Leverage for the basic account is listed as 1:30, but for higher-tier accounts, it goes up to 1:500. Such high leverage is typical of companies aiming to drive clients to a margin call as quickly as possible. The higher the leverage, the greater the risks, especially for beginners.
As for fees, nothing is mentioned, likely because ToroHive operates as a dealing desk. This business model inherently creates a conflict of interest — the broker profits from client losses rather than their success.
Exposing ToroHive
When you start examining the company’s operations, the first issue arises during the registration and licensing check. The website doesn’t mention any regulators overseeing their activities. There’s no name of a licensing authority, no license number — nothing. This is a major red flag indicating the company operates illegally. Any legitimate brokerage firm is required to provide this information. Here, there’s a complete void. Instead, there are grandiose claims that they are a “global brand”. However, where’s the evidence? Nowhere.
The address in Bangladesh is suspicious. If you look up the address — 1012 Pebda Parkway, Mirpur 2, Dhaka, Bangladesh — on Google Maps, it appears to be more of a residential building than an office space. Moreover, a search in the legal registry of Bangladesh (RJSC) yields no results. ToroHive doesn’t exist in this jurisdiction.
This means we’re dealing with a fraudulent company that lacks a license and lists a fake address in Bangladesh. It’s unclear where the company is actually registered. The user agreement mentions the jurisdiction of Saint Vincent and the Grenadines, but even there, ToroHive is absent.
The company’s age is another interesting detail. Their domain was registered only recently. This means their claims of “years of experience” and “commitment to clients” are completely unfounded. How long have they been in the market? Six months? A year? These numbers suggest a hastily created operation rather than a reliable broker.
What Reviews Do Users Leave?
There are very few reviews about ToroHive. This indicates that the broker is virtually unknown and unpopular among traders — which is no surprise. After all, who would trust a company with a fake registration and no license? In fact, it seems like they don’t even have any clients.
Conclusions
There’s absolutely no reason to risk depositing funds with ToroHive. It’s an unlicensed broker with no reviews. It has no reputation or guarantees of reliability. Any investments made here will likely be stolen by the anonymous scammers behind this fake platform.
Pros/Cons
- None.
- Template website.
- Fake contacts and addresses in Bangladesh.
- The broker has no license from serious regulators.
- The period of operation is less than a year.
Do not invest here. This company is a scam! I say this with confidence based on over 15 years of experience in the financial markets. It’s a textbook example of a Forex scam where you should never place your money. ToroHive was created by fraudsters, and this project won’t last long. Don’t be naive, and don’t fall into such traps.