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Trade5000
Rating:
Binary Option Programs Award
Min. Deposit
$250
Min. Investment
N/A
Regulated Broker
No

  1. Trade5000

    Trade5000 is an unlicensed forex and CFDs broker that offers South African traders the opportunity to trade CFDs in forex, stocks, commodities and indices.  Read our full review to find out all you need to know about Trade5000 and most importantly, whether to trust them or not.

    Account Features

    Trade5000 offers South African investors 6 different accounts that they can deposit with. As usual, the bigger the deposit, the more extra features and opportunities. Below you will find an overview of the 6 listed accounts:

    Green Account

    • $250 minimum deposit
    • 30% welcome bonus

    Silver Account

    • $1,000 minimum deposit
    • 40% welcome bonus
    • 10 trading signals
    • 10 1-on-1 expert sessions

    Gold Account

    • $5,000 minimum deposit
    • 60% welcome bonus
    • 15 trading signals
    • 20 1-on-1 expert sessions
    • 4-5 pips of fixed spreads on major currency pairs

    Platinum Account

    • $10,000 minimum deposit
    • 80% welcome bonus
    • 20 trading signals
    • Unlimited 1-on-1 expert sessions
    • 3-4 pips of fixed spreads on major currency pairs

    VIP Account

    • $20,000 minimum deposit
    • 100% welcome bonus
    • 30 trading signals
    • Unlimited 1-on-1 expert sessions
    • 3-4 pips of fixed spreads on major currency pairs

    Black Account

    To use this kind of an account, traders are advised to contact directly managers to help them with more info. The minimum listed at the website about this account is:

    • $100,000 minimum deposit
    • Unlimited trading signals
    • Unlimited 1-on-1 expert sessions

    Trading Software

    Transparency is the main feature that is lacking with this broker. Namely, it is not possible to find which platform traders can use and how to trade. Also, there is no indication of the possibility of trading cryptocurrencies although it is written on the broker’s front page. Overall, Trad5000 is falsely claiming to provide South African traders with opportunities that are ultimately unavailable. What we were most interested in was leverage, which was not mentioned anywhere on their website.

    Warning: Even if a broker’s site looks professional and impressive, this does not mean the company behind it is trustworthy. 

    Education

    Trade5000 offers South African traders various webinars, e-Books and video courses to learn all they need about online trading . However, this does not mean the broker is trustworthy.

    The overall lack of information in regard to their platform has simply been replaced by this free-way learning which is available to all South African traders, from the beginner to the professional.

    Customer Support

    Trade5000 website is only available in English and Russian, even though they say that this broker has multilingual support. The support chat is available 24/6 and this way traders can find more information about the trading and their account status.

    Trade5000 also gives an opportunity to contact broker directly via phone numbers for different countries like UK, Kazakhstan, Russia, Poland, Latvia, South Africa, Malaysia, Switzerland, Spain

    Payment Methods

    Trade5000 is owned and operated by the company International Payments 5000 Ltd. Several methods for deposits are available for this broker, including Visa, Mastercard, wire transfer, Neteller, Skrill, WebMoney, Qiwi Wallet, AstroPay and Yandex Money.

    Warning: South African investors are not advised to deposit any money with the broker. 

    Verdict: Is Trade5000 a Scam?

    Through our review of this broker, we discovered that Trade5000 is possibly a scam for South African traders. They are a non-regulated broker, with an incredibly vague site and no real information.

    If you want to trade with fully tested, regulated brokers, check out our list of the best brokers for users in South Africa

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