Basic Information
Pros and Cons
Pros
- Various products & services
- Various contact channels
- Long operation time
Cons
- Lack of regulation
- No demo accounts
Is Tracom Safe and Legit?
Tracom Stock Brokers Pvt Ltd is registered in India and has been operational since 2008, offering services for capital markets, mutual funds, and various investment products. Key trading conditions include access to a mobile trading platform, but they do not provide leverage or spreads, and there is no demo account available for new users.
Tracom currently operates without any valid regulatory oversight, which raises significant concerns regarding its safety and legality in financial operations. As such, it is classified as high-risk for potential investors.
In the market, Tracom has garnered a mixed reputation, with users generally noting the availability of various products and services. However, complaints about the lack of regulation, transparency issues, and difficulties with customer service and withdrawals are prevalent. Overall, community feedback indicates a cautious stance towards engaging with Tracom due to these concerns.
Is Tracom a Regulated Broker?
Client Fund Segregation: Your Ultimate Safeguard
Capital Protection Measures
Tracom Stock Brokers Pvt Ltd does not hold client funds in independently regulated bank accounts, as it currently operates without any valid regulatory oversight. Consequently, there are no specified rules regarding segregation of funds, raising concerns about the safety of client assets.
Tracom Leverage
Tracom does not provide leverage to its clients. As such, there are no maximum leverage multiples or account configurations available for standard or professional accounts. This aligns with the broker’s operational model, which does not include leveraged trading services.
Tracom Withdrawal Review
How to Contact Tracom?
Does Tracom Have Withdrawal Issues?
Tracom Stock Brokers Pvt Ltd has received numerous complaints regarding withdrawal issues, primarily concerning delays and difficulties in processing requests. These complaints are sourced from user reviews on various online platforms, indicating a significant portion of users experienced similar challenges. The broker’s response to these complaints appears to be slow, with many users reporting extended wait times for resolution. Repetitive complaints of this nature suggest a persistent issue, contributing to the broker’s classification as high-risk. Due to the absence of regulatory oversight, there have been no official penalties or warnings issued against Tracom regarding these matters.
Frequently Asked Questions
A1: Tracom Stock Brokers Pvt Ltd currently operates without any valid regulatory oversight, which raises significant concerns regarding its safety and legality in financial operations. As such, it is classified as high-risk for potential investors, and caution is advised when considering engagement with this broker.
A2: Tracom does not hold any mainstream or offshore regulatory licenses, indicating the absence of regulatory protection. This lack of regulation contributes to its high-risk classification for potential investors, making it essential to exercise caution.
A3: Tracom does not hold client funds in independently regulated bank accounts, and there are no specified rules regarding the segregation of funds due to its lack of regulatory oversight. This raises concerns about the safety of client assets.
A4: Yes, Tracom has received numerous complaints regarding withdrawal issues, particularly delays and difficulties in processing requests. Many users have reported extended wait times for resolution, contributing to the broker’s high-risk classification.
A5: Tracom offers various contact channels, including a customer support phone number at +91 079 – 29666001 and an email address at info@tracom.co.in. Additionally, they maintain a presence on social media platforms.
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Risk Disclosure
Trading forex/CFDs via brokers carries high risks, including potential total loss. For any data changes, please refer to the latest information on the brokers' official websites. Trade with caution and seek independent advice.