Tradefastgold has been flagged by Financial Conduct Authority for "Unregistered/Unlicensed entity offering financial products or services". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I joined Tradefastgold after my brother mentioned them and from the start, things felt off. The signup process collected far more personal information than necessary, the verification took unreasonably long, and when I finally got access, the platform was nothing like what was advertised.
Pros: Wide product range|Risk management tools
Cons: None so far|Slow to add new assets
I wanted to transfer my portfolio from another broker to Tradefastgold. They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Regular updates|Low minimum deposit
Cons: Charting tools need more indicators
I was contacted by Tradefastgold through social media. They promised guaranteed returns of 20-30% monthly. Being naive, I invested. The "account manager" pressured me to invest more and more. When I finally tried to take profit, my account was frozen and they stopped responding. Classic Ponzi/advance fee fraud.
Cons: Withdrawal fees demanded|Communication cut off|Not authorized
After seeing ads for Tradefastgold online, I investigated. The company is listed in the IOSCO I-SCAN warnings database and has been flagged by Financial Conduct Authority. Their website looks professional but that means nothing - many scam operations invest heavily in appearance. Always check the regulatory warnings before investing.
Cons: Flagged by Financial Conduct Authority|Cannot verify credentials
The spread at Tradefastgold is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them through a podcast recommendation and initially thought the platform was good - until I started trading seriously.
Pros: Tax reports included|Full transparency
Cons: Live chat only during business hours|Wait times can be long during peak hours
Do not be fooled by the professional-looking website. Behind the scenes, Tradefastgold is disorganized and incompetent. I found them after a trusted YouTuber reviewed them and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Social trading features|Economic calendar
Cons: Slow to add new assets
The hidden fees at Tradefastgold are the real scandal here. What they advertise and what they actually charge are two different things. By the time I realized how much I was paying in various fees and spreads, I had already lost a meaningful amount.
Pros: Comprehensive tools|Tax reports included|Multiple order types
Cons: Limited demo account features|Onboarding videos are outdated