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Trader Platinum
Rating:
Binary Option Programs Award
Min. Deposit
$250
Min. Investment
0.01 lot
Regulated Broker
No

Trader Platinum Review

  1. Trader Platinum is an offshore, unregulated forex broker that claims to offer South African traders investment accounts and a wide range of CFDs to trade.

    Please note that Trader Platinum has been blacklisted by the Manitoba Securities Commission (MSC) in Canada, which received several complaints in regard to this forex and CFDs broker. Our team found the Trader Platinum official website to also be incredibly vague, offering no information on the company operating Trader Platinum, their address or any indication of some type of trading license.

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    The minimum deposit to begin trading with Trader Platinum is $250, which is the most common minimum deposit amount required from most forex brokers in the industry. You will find several account types listed below, which depend on your trading experience and available capital. Trader Platinum also briefly mentions a robot, but with no further information about what this robot is and how it works.

    You can check out all the Trader Platinum accounts below.

    Demo Account

    We were disappointed to find that Trader Platinum does not offer a demo account for South African traders. Demo accounts are a great way to practice trading and testing out a broker’s platform before investing any real money, especially for beginners.

    If you are just starting to trade, we strongly recommend choosing a broker that has a free demo account – like IQ Option – so you can get comfortable with the trading process before making your first deposit.

    Basic Account ($250)

    • $250 minimum deposit
    • Leverage up to 1:100
    • Base currencies, exotic currencies, indices, commodities, stocks, CFDs, crypto
    • Video tutorials (partial access)

    Standard Account ($2,500)

    • $2.500 minimum deposit
    • Leverage up to 1:150
    • Base currencies, exotic currencies, indices, commodities, stocks, CFDs, crypto
    • Video tutorials (partial access)
    • Fixed or floating spreads
    • Account manager

    Premium Account ($20,000)

    • $20,000 minimum deposit
    • Leverage up to 1:200
    • Base currencies, exotic currencies, indices, commodities, stocks, CFDs, crypto
    • Video tutorials (full access)
    • Fixed or floating spreads
    • Account manager
    • PRIME contracts
    • Extra bonuses (up to 100% of deposit)

    VIP Account ($50,000)

    • $50,000 minimum deposit
    • Leverage up to 1:400
    • Base currencies, exotic currencies, indices, commodities, stocks, CFDs, crypto
    • Video tutorials (full access)
    • Fixed or floating spreads
    • Personal account manager
    • PRIME contracts
    • Extra bonuses (up to 200% of deposit)
    • News & signals
    • Express wire transfers
    • Referral cashback programs

    Tailored Account

    • Contact account manager for minimum deposit
    • Leverage up to 1:400
    • Base currencies, exotic currencies, indices, commodities, stocks, CFDs, crypto
    • Video tutorials (full access)
    • Fixed or floating spreads
    • Personal account manager
    • PRIME contracts
    • Extra bonuses (up to 200% of deposit)
    • News & signals
    • Express wire transfers
    • Referral cashback programs
    • Participation in company events
    • Social trading
    • Dealing room (trading via phone)
    • Meeting with other traders

    Robot ($5,000)

    • Additional robot and algotrading support
    • 50% discount on best robot
    • Leverage up to 1:100

    Trader Platinum Trading Platform & Assets

    By choosing to trade with Trader Platinum, South African traders will have the opportunity to trade a variety of underlying assets including forex (ex. EUR/USD), crypto (ex. Bitcoin, Ethereum, Litecoin), commodities, stocks (ex. Apple, Coca Cola) and indices. You will supposedly be trading these CFDs on the MetaTrader 4 platform.

    MetaTrader 4 (MT4)

    Trader Platinum claims to connect South African investors to the MetaTrader 4 platform, the most popular trading platform online. However, on their website, they simply link to MT4’s official website and don’t appear to connect their brokerage to the platform.

    You can trade MT4 on your desktop, mobile or tablet. Whether you prefer to trade on-the-go, or straight from home, you can find a MT4 platform for your needs.

    The only disadvantage here is that Trader Platinum does not offer a second option for beginners. MetaTrader 4 may be the most well-known trading platform, but it is not for a beginner. Its advanced software and powerful features are created for more experienced traders. A newbie will find it pretty overwhelming.

    Usually, beginners are give the option of a simpler web trader – which Trader Platinum does not offer.

    Trader Platinum Customer Support

    As mentioned previously, the entire Trader Platinum website is vague and their contact page is no different. In fact, Trader Platinum provides no physical address, no working phone number and no live chat to contact them. The only way you can contact the broker is via the email [email protected]

    As you can imagine these are all red flags and show zero transparency from the broker’s side.

    Trader Platinum Deposit & Withdrawal Methods

    Trader Platinum provides no information for deposit and withdrawal options for South African traders – or any traders for that matter. This is yet another sign that shows that Trader Platinum is not a trustworthy company.

    Trader Platinum Pros & Cons

    As you have probably realized by now, our Trader Platinum review uncovered many more cons than pros when it comes to this forex broker. Take a look at them below.

    Pros:

    • MetaTrader 4 platform (most popular trading platform)

    Cons:

    • Not regulated or licensed under any regulatory agency
    • Blacklisted by the MSC in Canada
    • No company information or address
    • No working phone number
    • No transparency
    • No demo account
    • No mention of deposit and withdrawal mentions
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    Conclusion: Is Trader Platinum a Scam?

    We do not have proof that Trader Platinum is a scam, but what we can say is that this broker is not trustworthy and their cons far outweigh their pros as you can see above. The Trader Platinum disadvantages are serious – so we would strongly advise South African traders to stay away from this company.

     

Trader Platinum articles