Tradnances 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. Website domain: tradnances.com.
I lost a significant amount because Tradnances did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: Helpful community forum|Easy withdrawals|Clear documentation|Good analytical tools
Cons: Minimum deposit could be lower|Alert system is basic
After seeing ads for Tradnances 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 Tradnances is not what they advertise. During volatile markets it widens so much that you lose before the trade even starts. I found them after reading several online reviews and initially thought the platform was good - until I started trading seriously.
Pros: Reliable uptime|Comprehensive tools|Competitive fees|Tax reports included
Cons: None so far|No dark mode on mobile
Tried to withdraw my funds from Tradnances and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Pros: Initially responsive customer service
Cons: Cannot withdraw funds|Not regulated|Pressure tactics
The so-called education at Tradnances is just marketing. Every webinar ends with a push to deposit more. The market analysis is generic and often wrong. If you want real education go elsewhere. I wasted since I retired last year thinking they would help me learn.
Pros: Segregated accounts|Multiple order types
Cons: Inactivity fee applies after 12 months|Would like more payment methods
The onboarding at Tradnances was smooth which makes the subsequent experience even more frustrating. Once they have your money, the quality of service drops dramatically. Getting anyone to help you with an actual problem is nearly impossible.
Pros: API access|No hidden fees|Reliable uptime|Helpful community forum
Cons: No live chat on mobile|Limited cryptocurrency options