Read our Traders 88 review carefully to see why we do NOT recommend this broker for trading. Just to clear doubts, this is a traders88.com review.
Who are they?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.
So Traders 88 is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard earned money and there will be no regulating agency to hold them responsible.
| Regulatory Body | Status |
|---|---|
| FCA (UK) | No record of authorization |
| ASIC (AU) | No record |
| CySEC (EU) | No record |
| SEC / CFTC (US) | No record |
How does it work?
Usually unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.
Withdrawing funds
You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will help you with this step as well.
Make sure you leave reviews about Traders 88 in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section.
Traders 88 Review Conclusions
Making the Traders 88 review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our Traders 88 review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected] or by using this contact form.
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
Traders88 not only lied to me but took all my money of $353.00 Australia dollars, I would be very careful looking to register with this company they are scammers no doubt about it.
I saw this ad for China coin. Looking at the rate which offered that 1 china coin is only 0.07AUD I clicked on the link. It took my email and phone number and took me to this website for payment. Starting with minimum $250. Luckily I didn’t submit my card details or made the transaction.
Just now I got a call from them asking me to activate my account. I requested to make this call at another time as I am occupied right now. They insisted that it won’t take any longer than 5 mins. I agreed and the guy on the phone took me back to the same website and asked me to enter my card details and make the deposit. Which I didn’t want to. But that guy just wouldn’t back down. Insisting that he wants to help me. There came a point where I told them that I don’t want to be helped and that whenever I am ready I will come back to that website and make the deposit. But the guy didn’t budge. I requested to speak to his supervisor and a lady came on the call with the same tone. That she wants to help me and even if I don’t have funds in the account I should still make the transaction which will be declined but will keep the spot open for me. In spite of me insisting that I am not willing to leave me details on the website I was pushed to do it. Eventually I had to disconnect the call. Something didn’t seem right. They’re telling me that there are 1000s waiting and if I don’t take this option now I will lose my spot. I told them that I am happy to lose my spot but Hell NO!!! I was being pushed to take it. The people on the phone had the audacity to ask me question that if I wasn’t willing to do this transaction then why did I leave me details. It was an extremely annoying call.
I applied for this last week I had to pay 250 us dollars which came to 337 in a Australian dollars and I earned quite a bit o money and now these dogs have disconnected there phones and are refusing to give me what I’ve earned I am please warning all of you guys stay away from these rip off dogs and don’t fall for there bull***t guys
I started off with 750 Aud and was then told I would need to take it to $2000 to do any good. They then got 1455 from me. In the later hours A different chap rang me and informed me that the market was going crazy and if I put a lot more in I’d make plenty overnight. I (stupidly gave him $25,000.00 . I got it up to 69.000.00 and told the fellow I wanted to take it out. He said OK get me into AnyDesk and I will do it for you. I let him into my bank and he saw I had 13,000.00 left and I screamed at him down the phone to not touch it but it disappeared in front of my eyes. He then told me not to worry as I was making good profit. I got it up to 107,000.00 and then whoosh, it was gone. More fool me I suppose but I’m admitting it so that it might save others.
OMG Christine I am so sorry for you, I just submitted my details, then it took me to the 88 traders website, something told me this is a scam. Then woosh I got a phone call from a chap with a Russian accent. He tried by hook and crook to activate me and take my payment. I declined. While he was doing all the tricks in the book to sign me up, I resisted and while on the call resisting I went on to google search and luckily got in to this page. I told him dude I am reading about you as we speak that you are nothing but total SCAM, the chap still had the audacity to argue they where legit blah blah blah.. legit my ass. I told him I am going to end the call and if you want I will call back but dont you dare push me one more minute. he finally succumbed and left me. What a scammer. People be aware please and do your due diligence
They are Scammers. Refused to refund balance of my acc. Tried to entice me to invest more promising to credit my acc with an equal amount. When I said I didn’t have the money they tried to get me to sign a loan application to fund my account. They lie and cheat. Still not been refunded balance of my acc 30 days later. SCAMMERS.
Yep, Phones disconnected. Have sent a withdrawal request using their site but now I don’t really expect a response.
This site trap me in promising for a new China coins and after I deposit the money it is something else. They rang me many times to discuss bitcoins. I requested for a refund straight away, I check their website and it says Refund Pending, I checked it after 2 weeks, the website is no longer there. I deposited $250USD ($336.40AUD). I requested for refund on 6th January 2021, today is 19th January, I still not receive my money and the website for “traders88” is nowhere to be found. It is a scam I believe.
I also saw this ad for China coin. Looking at the rate which offered that 1 china coin is only 0.07AUD I clicked on the link. It took my email and phone number and took me to this website for payment. Starting with minimum US$250.
Using a gang up method to get me to invest more I ended up placing AU$8000 into this company. My first trade saw a profit of AU$1300. They pushed and pushed for me to invest my superannuation with them. I refused to commit any more to Trader88.
I was later given advice on hot investments. These saw me lose all of my money overnight. My legal team will be contacting them.
Stay clear of Traders88 they are scammers.
I got scammed too deposited bitcoin the equivelant of 337 au the site went down cant find them anywhere stay away from them big scammers
Scammed my terminally ill 82yr old father in law of nearly $1000.
DO NOT FALL FOR THIS. They emailed him then call him. The even spoke in French to him.
I got on the phone and demanded they return/refund his money back into his account, he’s a pensioner.
He told my I was being rude and that the money would be returned in a week maybe two weeks maybe a little longer.. after nearly 3 weeks no sign of refund. So I logged into account with the email activation link and the website doesn’t exist, they are not responding to emails either, then I found this page. Yep my 82 yr old terminally ill father is law was scammed!… AWFUL.
I nearly got caught but my bank warned me a red flag came up which was why my credit card payment was declined. The girl from the bank told me she could pass it but would advise I go through a trader that does not come up as a red flag, So I told trade88 I would not continue and did not want to hear from them again. From that point on for two weeks I was receiving harassing phone calls up to 10pm insisting I log back on and complete the transaction I blocked 4 phone numbers until I informed them one more call and I would put in an official complaint to ASIC. So far it has been a week and no phone calls but I still receive SMS’s giving a link to log in and begin trading. Very manipulative, rude, abusive and belittling. Thank you to my bank.
Trader 88 Beware this so-called Steve King is a scam artist and would not know the truth if it bit his hand.
He was abusive and wanted me to hook up to his computer using Team Viewer then suggested another similar system. He refused to refund my money and suggested I buy some stocks from him. Avoid the trader and this so called Steve King.
I found that they really push for you to buy from them.
Traders88
Oh! wow I really feel for CHRISTINE.
I would contact the fraud squad about it for sure.
As for me well I’ve been done for $250 US so I will start by filing for a charge back.
Yes of course they have been hammering me for extra money.
I was originally with Steve (just above me I find he is Steve King.
And now I’ve been handed over to Benjamin another shiffty talker, but of course no luck,
and he’s starting to get angry.
But now with all of these reviews their game is up.
Leslie Williams.
I was fortunate, I was foolish enough to ‘invest’ US$250 us dollars which came to approx. AU$350. But I quickly realized my mistake, I check them out on google AFTER I gave them my money, not before. I requested a withdraw the next day but they were giving me the run-around, making excuse for the delay and asking me “Why I wanted to withdraw it”. I could see they were not going to hand it back, so, I made a “Disputed Transaction” Claim with my Bank. After a few weeks, they Bank refunded my money. But they scammers still had the nerve to ring me back to show me they are nice people because they refunded my money, but I told him “No! you are scammers and crooks and you only refunded my money because I made a complaint to the bank.” It felt so good !!!
THEY ARE MOST DEFINITELY A SCAM. DO NOT GIVE THEM MONEY.
I too deposited $250US. They then changed the domain from http://www.traders88.com to the current traders-88.com
I forgot to research them first. My bad.
Tha put up a red flag. When I applied for a withdrawal they said it was processed. That was 6 weeks ago. I emailed warning them to make the withdrawal asap, I have had phone calls from them saying it should be returned and they will make it happen in 3 days. All a smokescreen to delay.
I had a feeling that is why I tested the withdrawal system before committing more.
BEWARE OF THEM.
want my money back
Around January I read about Chinese Cryptos which were starting off real cheap . I knew I had missed the boat with Bitcoin because it was already up to $26,000 . I made application to purchase $250 US of these Chinese coins whilst speaking to a friendly girl who took my details and money. Within 5 minutes of hanging up a foreign bloke rings me and tries to get me to increase my investment . During this call he admitted it was Bitcoin I had invested in and was talking of me doubling my money every day . I said that I would see where this investment went . When he rang in 2 days it was up to $1130 and I was starting to weaken . The next day he rang and my investment had gone down to $7 . Of course he wanted me to top it up to continue investing . Even though Bitcoin had shot to $33,000 I wouldn’t relent and , after a 45 minute phone call we disconnected .Within the next 2 weeks I had 9 different foreign high flyers ring me some of who got so rude I would hang up . I then got onto this site which I should have done in the beginning and read about the scams . The next bloke who rang promised to inject $250 into my account to kick off the investment again . It never happened and I never heard from them again .I am going to get the tattoo of a target removed from my forehead as I am regularly scammed on facebook but PayPal generally gets a refund . Christine , I feel desperately sorry for what happened to you . They were very persuasive and insistent .
Incidently , I keep a separate bank account which I deposit only the amount needed for the transaction and nothing more .Previously I would have to change account numbers etc after giving them out to these scammers . I rarely buy anything now that can ‘t be purchased through Pay Pal .
I had a very similar experience to Neil Sweetman [above]. They just keep calling and calling for months. They have Eastern European accents but use Western names…. I have had Simon, Anthony and Benjamin Schwartz bothering me over six months while all the time promising me they will get my AU$1000 back…. but it never happens, they just keep asking for more. They are so very persistent and are hugely reluctant to let you off the phone. I wish I had been provided with the AU$800 of e-yuan that I applied for. Traders-88 SCAMMERS EXTRORDINAIRE…. STAY AWAY
I’m reading this in mid-2025. for over 3 -4 years ago, they ambushed me, and in total stopped all contact after losing US$500,000. Ben Lewis and 2 others spent many hours pulling me into their net – I couldn’t find who to reliably report this fraud to in Australia. I gave up to remain sane, mentally safe and alive. It changed my life and wrecked my life.
(1/5)