Traling Forex Broker
Basic Information
South Africa
2-5 years Regulated in South Africa Financial Service Corporate Suspicious Scope of Business Suspicious Overrun High potential riskCompany profile
Rating Index
CEO
RETIRED
Traling Forex Broker - Complete Information Guide
1. Broker Overview
Traling, officially known as Harvest Risk Solutions Ltd, was established in 2016 and is headquartered in Johannesburg, South Africa. This broker operates as a private entity and focuses on providing trading services primarily in the forex and commodities markets. Traling has developed a reputation for catering to a diverse clientele, including retail traders and institutional investors, by offering a wide range of financial instruments.
Over the years, Traling has made significant strides in the trading industry, positioning itself as a competitive player in the forex market. The broker's development has been marked by the introduction of various trading accounts tailored to different trader needs, alongside the launch of its proprietary trading platform. As a part of its growth strategy, Traling aims to enhance its service offerings continually and expand its market reach.
Traling operates on a retail forex model, providing individual traders with access to the forex market, commodities, indices, and cryptocurrencies. This business model allows Traling to maintain a flexible approach to trading, catering to the varying needs of its clients while promoting a user-friendly trading experience.
2. Regulatory and Compliance Information
Traling is regulated by the Financial Sector Conduct Authority (FSCA) in South Africa, holding the license number 53006. However, it is important to note that the broker's current status is marked as "exceeded," indicating potential compliance issues. This regulatory oversight is crucial for ensuring that the broker adheres to the necessary standards and practices within the financial industry.
The FSCA provides a framework for financial services in South Africa, ensuring customer protection and maintaining market integrity. Traling claims to implement a customer funds segregation policy, which is essential for safeguarding clients' investments. However, the specific details regarding the investor compensation fund participation and the extent of KYC (Know Your Customer) and AML (Anti-Money Laundering) compliance measures have not been explicitly detailed in public sources.
Despite being regulated, the "exceeded" status raises concerns about the broker's operational integrity, and potential clients are advised to conduct thorough research before engaging with Traling.
3. Trading Products and Services
Traling offers a diverse range of trading products, including over 1500 market instruments. The broker provides access to more than 40 forex currency pairs, covering major, minor, and exotic currencies. Additionally, Traling offers a variety of CFD products, including indices, commodities like oil and gold, stocks, and cryptocurrencies, including Bitcoin and Ethereum.
The broker frequently updates its product offerings, aiming to meet the evolving needs of its traders. While Traling is primarily focused on retail trading services, it also extends its offerings to institutional clients, providing tailored solutions for larger trading entities.
Traling does not currently offer white-label solutions or asset management services, focusing instead on direct trading opportunities for its clients. This approach allows the broker to maintain a streamlined service model while providing competitive trading conditions.
4. Trading Platforms and Technology
Traling provides a proprietary web-based trading platform, which is accessible on desktop and mobile devices. Unfortunately, it does not support the widely recognized MetaTrader 4 or MetaTrader 5 platforms, which are preferred by many traders for their advanced analytical tools and automated trading capabilities.
The web trader platform allows users to execute trades efficiently, but details regarding its technical infrastructure and server locations have not been disclosed. The broker offers mobile trading applications compatible with both iOS and Android devices, enabling traders to manage their accounts on the go.
Traling operates under an ECN (Electronic Communication Network) execution model, which facilitates direct market access for its clients. However, the absence of detailed information regarding API access and automated trading support may limit the options for more advanced traders seeking algorithmic trading capabilities.
5. Account Types and Trading Conditions
Traling offers five different account types: Classic, Silver, Gold, Platinum, and VIP. The broker has established a minimum deposit requirement of $0, making it accessible for new traders. The trading conditions vary by account type, with spreads starting as low as 0 pips and commission-free trading.
The leverage offered by Traling can be as high as 1:400, which can significantly amplify both profits and losses. The minimum trade size is set at 0.01 lots, allowing for flexible trading strategies. Additionally, Traling has not provided clear information regarding overnight fees, which is an important aspect for traders to consider.
For those interested in testing the platform, Traling offers a demo account, which allows potential clients to familiarize themselves with the trading environment without risking real funds.
6. Fund Management
Traling supports a variety of deposit methods, including bank transfers, credit cards, and electronic wallets like PayPal and Skrill. The broker does not impose a minimum deposit for its accounts, making it an attractive option for new traders. However, specific information about deposit processing times and any associated fees has not been disclosed.
Withdrawal methods include the same options as deposits, but details regarding withdrawal limits and processing times remain unclear. Clients have reported challenges with withdrawal requests, which raises concerns about the broker's operational transparency. Additionally, any fees related to withdrawals have not been explicitly outlined in the broker's published materials.
7. Customer Support and Educational Resources
Traling offers customer support through various channels, including email, phone, and online chat. The broker provides service during standard business hours, but specific time zone coverage has not been detailed. Multilingual support is available, ensuring that clients from different regions can access assistance in their preferred language.
In terms of educational resources, Traling provides access to market analysis, research reports, and trading tools such as calculators and economic calendars. However, the availability of webinars, tutorials, and eBooks is not clearly stated, which may limit the educational support for novice traders.
8. Regional Coverage and Restrictions
Traling primarily serves clients in South Africa, with a focus on the African market. However, the broker has not specified the distribution of its regional offices, nor has it provided a comprehensive list of countries from which it does not accept clients. The lack of clarity regarding these limitations can pose challenges for potential international clients seeking to engage with Traling.
In summary, while Traling offers a range of trading products and services, potential clients should exercise caution due to its regulatory status and reported withdrawal issues. As with any broker, thorough research and consideration of individual trading needs are essential before opening an account.
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Latest Reviews
Anushka277
Kenya
BEWARE: THEY REFUSED MY WITHDRAWAL REQUEST AND GRABBED THE LEFTOVER MONEY AS INACTIVITY FEE. 114.5 USD in inactivity fee...brazen cheats. Posted the screenshot. YOU WILL NEVER BE ABLE TO WITHDRAW. BUT THE FUN PART IS THEIR AIM IS to lose it for you so you never get to withdrawal stage. You can lose money on your own in more FUN ways, only go to them if you want them to lose it for you. And if you get an account manager called Aliza, you have been particularly unlucky. She is their STAR SCAMMER. 200 usd is a small amount but there are many victims as you can see if you google reviews of them. Even the ones on Trustpilot. Looks like their modus operandi is to get people to invest with ridiculously fake British accents that drop more often than not into the Indian one.
Exposure
2024-12-01
FX3956310439
India
They talk in english accent and try to fool you by advising you the forex options and making you invest and they ensure that the deposited money is lost. Also you can't withdraw your own money. they fucking cheaters. Name of the people are Rashmi, Advait, Ali, Rohit etc.. Biggest scammers and fraud company. They will push your account to such low that you will forced to infuse money by giving you clarification that they will recover the money from the market. They sweet talk and convince you in such a way that you feel he/she is thinking so much about you..
Exposure
01-08