TotalTrader claims to provide a Demo account and risk free trading to its clients, but is this really true?

Skip the Content & Read the Final Conclusion

According to our team’s research, TotalTrader does NOT provide demo accounts. As an alternative we selected the top brokers that provide a Demo account for free.

Top10BinaryDemo cannot confirm that TotalTrader can offer you a demo account. In order to avoid risking real money you can Proceed to an Approved Broker with Demo Account  OR choose from the Top Demo Brokers:

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Full Review

TotalTrader was established in February 2017 and they are one of the newest Forex and CFDs trading brokers on the market today. According to their website, this brokerage is owned by Next Marketing Generation and they are based in the Marshall Islands.

Since the broker is relatively new on the market and traders are undecided whether to trust them or not, we took the onus to reveal the facts about them. We conducted a full-fledged investigation on TotalTrader to find out whether they are legit or not. When reviewing the broker, we paid attention to various aspects including popularity, feedback from past users, complaints if there were any, ownership details and location.

In our comprehensive review, traders can find all the important details about TotalTrader.

Trading Platform

The broker operates on Tradologic trading platform. The platform is quite easy to use and it supports Forex in various formats and the range of assets they have on offer is very limited. We aren’t happy with the number or choice of assets available for traders.

Taking a look at the website, it can be said that it has not been done in a professional manner. The broker doesn’t even have unique or innovative features that can entice traders.

Moreover, good brokers usually have a comprehensive educational library or give traders access to a range of learning tools and materials. But TotalTrader doesn’t even offer resources that can help traders learn. This makes their platform quite complicated for novices who don’t have experience in trading.

>> Proceed to Recommended Broker <<

Estimated Returns On Investments

We looked for information on their estimated returns on their website, but did not find anything. They haven’t mentioned anything about their payouts. But based on the feedback from traders, their experience had been mainly negative. Their actual payout is extremely low which means that they are not a good choice for trading Forex.

Is TotalTrader A Scam Broker Or A Legit Option?

The broker is new on the market and this is one of the main reasons why most traders are unaware of them. However, a small portion from the online trading community has definitely tried partnering with them and they did not have a good experience.

From what we can see, there is potential to make some profits, but the potential is not too high. In terms of performance, TotalTrader falls below average. Some traders have managed to earn enough profits to make withdrawal requests. But the shocking truth about TotalTrader is that they make the withdrawal process extremely complicated.

It looks like the broker has no intention to give traders what they deserve. Withdrawals are not easy and in most cases traders have also faced locked or suspended accounts after requesting transfer of funds from their trading accounts to their personal accounts.

There are several complaints on the internet about TotalTrader and most of them are related to withdrawals.

Another thing is that the broker is not regulated or licensed. This means that trading with them is certainly risky since they don’t adhere to any financial guidelines. We strongly feel that traders should not trust TotalTrader and open a trading account with them. Chances are that they are not legit and trading with them may pose a significant risk.

Minimum Deposit and Withdrawal Requirements

There is not much information on the types of accounts traders can sign up for but we assume that the minimum deposit requirement is $250. On their website, they have mentioned the different methods which traders can use to add money to their accounts or withdraw money from their account.

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These options include wire transfer, several digital payment options and all major credit cards. At the moment, we don’t have information about their minimum withdrawal requirements. But as we have mentioned earlier, the withdrawal process is complicated and can be bothersome. Traders have been denied withdrawals which makes TotalTrader extremely unsafe to trade with.

Customer Support

Their channels of communication include email, phone and live chat. However, feedback from past users suggest that their response time is pretty slow. Their team of customer support staff is made up of unprofessional and incompetent representatives who lack knowledge about Forex and CFDs trading. Their extremely low quality support service suggest that they are not serious about the needs of their clients.

Our Verdict

After looking at all the facts about TotalTrader and reading reviews of past traders, we have come to the conclusion that this brokerage is unsafe and unreliable. The broker doesn’t have a good reputation in the industry and most probably they are linked to scam services.

We do not recommend using the services of TotalTrader. We advise our readers to stay away from it or choose a licensed and reputable broker.


Conclusion

After our research we concluded that TotalTrader does not provide a demo account.

The lack of practice account and risk free trading makes this broker unsuitable for traders who want to learn how to trade without losing their investment.

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We Advise you to Visit Broker with Demo Account OR Choose One of the Top Brokers Above.

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David

David

Hello!
I am David Raines, a Forex trader with years of experience in online trading. I write reviews of Forex Brokers, Auto Trading Software and Signals Providers.
David

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