Beware! New Forex Scam: Tiger.Trade Copy
“I can’t withdraw my money”, “Tiger.Trade copy doesn’t respond to my withdrawal request”.
These are some of the many complaints I have seen on Tiger Trade. Their website is tiger.trade and their main audience seems to be limited to Europe.
Most of their reviews say the company doesn’t pay at all.
This is very alarming.
Usually, when I review forex companies, I look for the basics like minimum deposit, payment methods, trading conditions, etc. But here, everything is different.
This broker is different.
They provide copytrading services to their customers and also have a dedicated trading app on Windows.
While they claim to be based in Switzerland, I highly suspect they do. Because a forex broker based in Switzerland needs to have a license from FINMA the Swiss financial services regulator.
FINMA has some of the most stringent rules and regulators for financial services providers.
For example, FINMA issues licenses to financial services providers after checking their capital and ensures that they stick to their consumer guidelines.
However, when I checked tiger.trade’s website, I didn’t see any FINMA license or even its mention.
Clearly, they are offering financial services to people under the false pretence of being Swiss regulated.
What is Tiger.Trade Copy?
Tiger.Trade Copy is a copytrading service. In copytrading, you copy the trades of another trader in the market. It’s relatively easy but requires a lot of effort into selecting the right trader to follow.
Copying the wrong trader can result in you losing your entire investment.
On paper, copy trading seems like an easy and effective way to make money. However, many scammers use copy trading as a way to get more victims.
It seems to me that Tiger.Trade Copy is a similar scam in that regard.
The Tiger.Trade Copy app is available for Android and iOS.
The Tiger.Trade Copy Trader Platform:
For traders who have several years of experience in this craft, they offer teh Tiger.Trade Copy trader platform.
This platform lets others copy your trades by paying you certain fees.
Again, this concept seems great on paper but apart from several complaints against the platform, I didn’t find anything useful on this feature.
To become a Tiger.Trade Copy trader, you would need 3+ years of trading experience, 20%+ annual profit and a monthly trading volume of over $10 million.
The platform claims that it’s a great way to earn a side income for traders as every copytrader will be paying you $25 per month.
Also, they boast of having a very simple registration process. Apparently, you don’t need to fill out an application form. Instead, you can get instant access to their Trader Mode if your cryptocurrency wallet matches their requirements.
However, that would require you to connect your Binance account with your Tiger.Trade Copy account.
Another thing they claim to offer is security and privacy. According to their website, the company won’t ask for your personal data and you would have complete control over what you share with your Subscribers.
What is Tiger.Trade Platform?
For those interested in copy trading, Tiger.Trade Copy offers a copy trading mobile app where you can earn from other experienced crypto traders.
Furthermore, the company claims to offer dedicated trading platforms which you can download on Windows.
Their trading platform offers a 14-day trial and you can only trade cryptocurrencies in this period.
To get a full license of the Tiger.Trade Copy trading platform, you will need to shell out $55 per month. This is a steep amount and many might not be able to afford this.
On top of that, if you are interested in practicing your trading skills, this company offers a History Player which lets you test your skills with historical data. The History Player costs $15 a month.
However, you should know that the History Player doesn’t offer any live trading facilities.
It is only for practicing your trading skills.
Tiger.Trade Copy Crypto Token (TIGR)
On their website, Tiger.Trade Copy shares that it has launched a new crypto token called TIGR.
Apparently, this token will help Subscribers and Traders perform in-app transactions.
But I must point out a crucial detail.
TIGR isn’t an original token name. It is also the stock market code for a Chinese financial firm called Up Fintech Holding Ltd.
They have been in the industry since 2014 and have more than a thousand employees.
Furthermore, Tiger Trade itself is a very unoriginal name as it coincides with Tiger Brokers, a global brokerage firm that has thousands of customers as well.
It seems to me the people behind Tiger.Trade Copy are well aware of this. They are trying to distract consumers and make themselves seem more credible through this.
Tiger.Trade Copy Reviews:
Although this trading platform provider makes plenty of bold claims about itself, the various Tiger.Trade Copy reviews tell an entirely different story.
According to its reviews, the company steals money from its clients by rigging their platform.
Several of their clients have complained that the Tiger.Trade Copy platform doesn’t reflect actual trades and is only an artificial representation. They claim that your money goes directly in the company’s pocket and when you try to get a withdrawal, they will freeze your account.
One reviewer claimed that he had been using Tiger.Trade Copy trading platform for moths.
However, one time, he placed a major order on the platform but it didn’t follow. Instead, the trading platform made him lose his entire deposit.
The reviewer had put Stop, Take and No Loss orders so the platform would stop his losses at a certain point. But the platform didn’t.
So, he ended up losing his entire deposit.
He even visited the Moscow office of Tiger.Trade copy but found nobody there.
What’s sad is he isn’t the only one complaining about a rigged platform and dubious practices.
Another reviewer had invested with Tiger.Trade Copy trading platform and for some reason, the platform doesn’t exit the position you want to.
So, you end up losing your deposit. Moreover, when you complain about all this to Binance, they direct you to Tiger Trade who don’t respond to your complaints at all.
Here are some more complaints highlighting exposing the shady activities of this scammer:
More Tiger.Trade Copy Reviews You Should Read:
What’s surprising is that I couldn’t find any other Tiger.Trade Copy reviews apart from these ones. Clearly, the company is trying to hide their customer reviews because most of them are complaints.
This is a big red flag and I don’t recommend working with such a company.
Verdict: Tiger Trade (tiger.trade) is a SCAM
Tiger.Trade Copy is a terrible firm, in my opinion. The company has received numerous complaints saying they steal funds from their consumers through deceptive practices.
That’s not all. The company offers a very expensive trading platform which doesn’t have any reviews online.
Judging from their reviews alone, I don’t think anyone should bother with this company.
There are plenty of legitimate copy trading services. Tiger.Trade Copy isn’t worth it.
You should avoid dealing with crypto scams.
Although Tiger.Trade Copy makes plenty of bold claims about its offerings, I can’t ignore the obvious red flags, including the numerous complaints it has received from its customers.
- Proprietary platform
- Potential for growth
- Reviews allege it's a scam
- No information available on the team
- Negligible online presence