After almost three years on the market, Tradorax is shutting down. A fairly popular company in the binary options industry, they had a significant number of followers. So what went wrong? Well, that’s what we’ll try to discover in the rest of this article. We did a little bit of research and found out some things that can show you what you need to look for when examining a potential business partner. It’s always interesting to see the flow of events in cases like this, so read on to get a better understanding of why some brokers fail, while others manage to succeed in this business. Let’s go!
Tradorax is shutting down | No license?
First of all, there is still no official reason why Tradorax is shutting down. However, there are some facts that can help us make an educated guess. For example, it seems that the broker decided to accept traders from the United States although they did not possess the necessary license for it. In the long run, such policy will not get you very far, since the regulatory bodies in that country can be pretty strict if they come across a company that is not conducting its business the way it should. If you read why Banc De Binary is shutting down, you will see that the CFTC had a significant role in this big broker’s downfall and it seems very possible that they have dealt with Tradorax, too. But that’s not all, so stay with us.
Tradorax is shutting down | Withdrawal problems?
With all this in mind, you will certainly want to find a broker that conducts its business professionally and can provide you with a safe trading environment. We suggest you read our 24option Review 2016 because this is currently one of the best brokers in the world. But to get back to our main story, many new cases of withdrawal frauds and other types of financial malversations involving Tradorax have surfaced recently, which can also be a reason why Tradorax is shutting down. Therefore, if you have a trading account with them, we recommend you stop trading and try to withdraw your funds immediately. This is not a company worth anyone’s money anymore and you would do well to find an alternative. Our website can help you with that.
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Tradorax is shutting down | Conclusion
So, Tradorax is shutting down and that seems to be inevitable. Although an official reason for that move has not been disclosed yet, many things have surfaced that can help us make a very educated guess about what went wrong. Simply, there were too many bad practices in the way the company conducted their business. We honestly recommend that you avoid investing with this company at all costs. There are so many other competent brokers on the market, so you should have no problems finding the one that suits you just fine. A great alternative was already offered in this very article.
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