Cadre Traders, an unregistered broker based at Manchester House, Grosvenor Hill, Cardigan, United Kingdom, claims to offer investment opportunities in cryptocurrency and bitcoin mining. Despite its impressive front, the broker has lured many unsuspecting clients into its fraudulent schemes. The company operates through its website,https://cadre-traders.com, offering various investment programs that appeal to investors of different financial capacities. However, Cadre Trades has been flagged by the Financial Conduct Authority (FCA) for its unregulated activities, raising serious concerns about its legitimacy.
Unauthorised firm details
Name: CADRE TRADERS
Address: Manchester House, Grosvenor Hill, Cardigan, United, SA43 1HY
Email: support@cadre-traders.com
Website: https://cadre-traders.com/
Cadre Traders Investment Programs
Cadre Traders has designed several investment plans that vary based on the amount of capital a client is willing to invest. These plans include the Amateur Program, Standard, Silver, Gold and Masters Program.
- The Amateur Program is designed for beginners and requires a relatively low investment of $(10-99), making it appear accessible to new investors.
- The Standard program offers slightly more features, enticing those with moderate capital to invest of $(100-1999).
- The Silver program. Requires a higher deposit and promises better returns, targeting more experienced investors. requires $(2000-10000).
- The Gold Program. It claims to cater to those with significant investment capital of $(10000-50000).
- Masters Program promises exclusive benefits for expert traders willing to invest large sums of money of $(10000-1million ).
These investment programs seem tailor-made to attract clients at different stages of financial ability, drawing them in with promises of high returns. Unfortunately, these plans are part of the deceptive tactics used to scam investors, as the company has failed to provide evidence of any real trading or mining activities.
Lack of Regulatory Oversight
One of the most significant red flags with Cadre Traders is its unregistered status. The company operates without any form of regulatory oversight. Therefore, it is not bound by the rules and regulations that govern legitimate financial institutions. Without proper regulation, clients have no protection or recourse when things go wrong. This lack of accountability leaves investors vulnerable to scams, as unregulated brokers can easily disappear with their clients’ money.
https://www.fca.org.uk/news/warnings/cadre-traders
The FCA, the regulatory body in the United Kingdom responsible for overseeing financial services, has flagged Cadre Traders as a fraudulent and unregistered entity. This warning from the FCA highlights the potential risks associated with investing in an unregulated broker like Cadre Traders. Hence we urge you to stay away from any financial institution that operates without the necessary regulatory approvals.
How Cadre Traders Scammed Clients
Cadre Traders lure clients by exploiting the rising popularity of cryptocurrency investments. With promises of lucrative returns, the broker has attracted many unsuspecting clients who were eager to grow their wealth. However, after depositing funds, clients have reported difficulty withdrawing their money, with some claiming they were pressured to invest even more to recover their initial investment.
The company’s promises of bitcoin mining and cryptocurrency trading have turned out to be false, Their is no evidence that these activities actually take place. Instead, the broker uses its website and convincing marketing tactics to lure investors.
Importance of Investor Caution
The case of Cadre Traders serves as a stark reminder of the importance of exercising caution when selecting an investment platform. Investors should always verify the regulatory status of any broker before committing their funds. Unregistered brokers often use sophisticated tactics to appear legitimate. But in reality, they lack the necessary protections that clients would receive from a regulated entity.
Therefore, investors should also be wary of promises that sound too good to be true. High returns with little to no risk are often a hallmark of fraudulent schemes. Before investing, it is crucial to conduct thorough research and avoid platforms that do not provide transparent information about their operations and regulatory status.
Conclusion
In conclusion, Cadre Traders is an unregistered broker that has scammed numerous clients by offering false investment opportunities in cryptocurrency and bitcoin mining. Despite its range of enticing investment programs. The FCA has flagged the company for its fraudulent activities and lack of regulatory oversight. Therefore, investors should avoid Cadre Traders and similar unregistered brokers, as they pose a significant risk to their financial well-being.