70Trades Review

At FXCanary, our review process is built on a combination of direct regulatory cross‑checks, deep dives into verified user databases, and analysis of aggregated industry scores. For 70Trades, we began by confirming the broker’s registration in Seychelles and its FSA license number against the official public register. We then sifted through more than 75 real user reviews on Trustpilot and Forex Peace Army, giving us a raw, unfiltered look at trader experiences.

What we found was a stark disconnect between the brokers own marketing and the reality reported by its clients. Every single user review we encountered was negative—a pattern we have rarely seen in such purity. We also reviewed over 20 complaint threads on independent forums, most of which centered on withdrawal issues and aggressive sales tactics. This evidence‑first approach allows us to present a factual assessment backed by data, not speculation.

70Trades is the trading name of Securcap Securities Limited, a company registered in Seychelles. The incorporation date is listed as 2 April 2019, making the broker just a few years old. Its registered address—Office 4, Suite C2, Orion Mall, Palm Street, Victoria, Mahe—is a typical office‑suite arrangement in a jurisdiction known for hosting numerous offshore forex firms.

One of the first red flags we encountered was the employee count: zero. While it is possible for a broker to outsource many functions, having no registered employees is unusual and suggests a shell‑like structure. This impression is reinforced by the company’s low‑profile public footprint. Unlike legitimate brokers that invest in physical offices, client support teams, and compliance staff, 70Trades appears to exist largely on paper.

The history of the brand is also concerning. Industry databases have flagged it as a “Suspicious Clone,” meaning that it may be impersonating or closely mimicking another legitimate firm. Such clones are often used to deceive traders who are checking for a regulatory number, hoping they will mistake it for a well‑known entity. Traders should be aware that this clone status is a serious warning sign.

70Trades operates under just one regulatory license, issued by the Seychelles Financial Services Authority (FSA). The licence is categorised as a Derivatives Trading License (EP) with the identifier SD012. While an FSA licence does impose some obligations—such as maintaining minimal capital and segregating client funds—it is not on par with top‑tier regulators like the FCA or CySEC.

Critically, the Seychelles regime does not offer a compensation fund; if the broker becomes insolvent or commits fraud, there is no government‑backed safety net for clients. Moreover, the FSA has limited resources for enforcement, and we could find no record of 70Trades being subject to any public disciplinary action. This lack of oversight means that traders are heavily reliant on the broker’s integrity—a quality that the user reviews call into serious question.

We also checked the FSA’s public registry to confirm the licence. It exists, but that alone does not guarantee safety. Offshore licenses are often used by brokers who cater to non‑local clients precisely because the rules are laxer. In our analysis, a single offshore license without any top‑tier backup places the broker in a “high‑risk” category.

The broker structures its offering into three tiers: Entry Level ($200–$999), Advanced ($1,000–$9,999), and PRO ($10,000+). All accounts share the same maximum leverage of 1:200. Typically, higher‑deposit tiers would come with added perks—tighter spreads, dedicated account managers, or extra analysis tools. 70Trades does not publicly disclose any such differentiation beyond the deposit requirement.

This uniform trading condition across tiers strongly suggests that the tier system is designed primarily to encourage larger deposits without offering corresponding value. For a trader depositing $10,000 into the PRO account, the lack of transparent benefits is a glaring omission. Combined with user reports of aggressive upsell tactics, it appears that the account structure is a tool to extract maximum capital from clients before they realise the risks.

The high leverage of 1:200 is another double‑edged sword. While it can magnify profits, it also significantly increases the probability of a total loss, especially for inexperienced traders. With no negative balance protection mentioned, clients could lose more than their deposit—a particularly dangerous combination when dealing with a broker that has a history of blocking withdrawals.

70Trades chooses not to disclose its deposit or withdrawal methods publicly. There is no information on whether it accepts credit cards, bank wires, e‑wallets, or cryptocurrencies. Likewise, the broker remains silent on processing times, fees, or minimum/maximum transaction limits.

This opacity forces traders to open an account and deposit funds before understanding the mechanics of getting their money back. In our review of user complaints, we encountered 11 specific withdrawal‑related grievances, all negative. Clients consistently reported that withdrawal requests were ignored, denied on fabricated grounds, or stalled indefinitely. Many quoted their account managers relaying excuses like 'your investment is locked' or 'you need to trade more to release the bonus.'

One particularly revealing complaint detailed a trader who deposited $10,000 only to see the account wiped out within a day, with the account manager vanishing immediately. Another noted that even small profit payouts were refused. The pattern is clear: deposits are welcomed, but withdrawals are systematically obstructed. This is the hallmark of a potential scam.

The broker lists forex, commodities, futures, and stocks as its tradable instruments. However, there is no detailed product catalogue or specification of the number of assets available. For a trader, knowing whether the forex offering includes minors and exotics, or which stock CFDs are available, is fundamental to making an informed decision.

Platform details are similarly absent. 70Trades does not publicly state whether it uses MT4, MT5, cTrader, or a proprietary web platform. This is highly unusual; even poorly‑regulated brokers usually boast about their platforms. The lack of information means traders cannot verify in advance the quality of charting tools, order execution speed, or mobile functionality.

User reviews mention a web‑based trading interface and phone‑based guidance from account managers who instructed trades. Some reviewers described the platform as manipulated, with trades going against them immediately. Without transparency, there is no way to independently verify these claims, but the uniformity of the complaints adds weight to the suspicions.

70Trades does not publish its spreads or commission structure. The account types show blanks for both minimum spread and commission. For a trader, this means the cost of trading is completely unknown until they have already deposited money.

User reviews provide some indirect insight. Several traders complained about hidden fees eating into their capital, though they rarely specified exact spreads. One reviewer noted that the broker’s 'scam' involved not only denying withdrawals but also charging exorbitant fees that eroded their account. Without official figures, we must assume that costs are likely high, as this broker appears to have no interest in attracting traders through competitive pricing.

In contrast, legitimate brokers often publish typical spreads for major forex pairs to attract clients. The absence here is consistent with a broker that relies on aggressive sales rather than transparent pricing to acquire customers.

We analysed over 75 reviews across Trustpilot and Forex Peace Army. The average rating on Trustpilot is 1.2 out of 5, and on FPA just 1.093 out of 5. Not a single review expressed a positive experience. The feedback fell into a few stark categories: fraud accusations, deposit‑and‑deny tactics, and aggressive account management.

For scam concerns, we counted 38 negative mentions. Typical statements included 'It’s a fraud company. Don’t invest' and 'They stole all my money.' Deposit complaints were also frequent, with 28 negative mentions describing how clients were urged to deposit more and then cut off. One reviewer vividly detailed being guided by an account manager named Shreya Nayyar who 'always escapes when I notify my withdrawal.'

Platform issues (21 mentions) revolved around the guided trading system, where account managers gave instructions that consistently led to losses. Profit and payout complaints (20 mentions) echoed similar themes, with users claiming promised returns never materialised. Trust and reliability scored 18 negative mentions, with multiple reviewers warning others to stay away. Customer support (14 mentions) was described as evasive and dishonest.

Withdrawal problems, though officially counted at 12 mentions, overlapped heavily with other categories. Reviewers unanimously reported that getting funds out was nearly impossible. Spreads and fees (6 mentions), order execution (3 mentions), speed (2 mentions), account and KYC (2 mentions), and bonuses (2 mentions) all reinforced the central narrative: this broker does not pay out. The bonus complaints specifically described a trap where a bonus was added without consent, tying up the deposit.

Our independent Scam Risk Score for 70Trades is 49 out of 100, placing it in the 'Guarded' category. This score synthesises regulatory weight, user feedback volume and sentiment, transparency of operations, and any known enforcement actions. A score below 50 typically indicates a broker with significant red flags that warrant extreme caution.

Aggregated data from industry databases aligns exactly with the user review picture. The broker is flagged as a suspicious clone, and its positive review ratio is 0%. In our experience, a broker that cannot produce a single satisfied client after several years of operation is almost certainly operating in bad faith. The combination of offshore registry, no top‑tier regulation, hidden fees, and systematic withdrawal complaints creates a toxic profile.

Comparing 70Trades to other brokers with similar scores, we find it falls into the same cluster as known scams and long‑term rip‑off schemes. The lack of any positive signals makes it impossible to recommend even a test deposit.

After a thorough review, we conclude that 70Trades exhibits nearly every red flag we look for when identifying high‑risk brokers. Its regulatory standing is weak, its operational transparency is zero, and its user feedback is unanimously damning. The repeated pattern of blocked withdrawals and aggressive deposit‑pushing fits the classic definition of a bucket shop—a broker that never intends to pay out client profits.

The 49/100 Scam Risk Score reflects the fact that while a license exists, it offers little practical protection. The broker’s own lack of disclosure makes it impossible to assess trading conditions, and the clone flag raises questions about its very identity. We would expect a legitimate broker to celebrate its regulation, publish clear fees, and resolve complaints—70Trades does none of these.

For traders considering this broker, we recommend an immediate halt. The risk of total loss is not just hypothetical; it is supported by dozens of verified accounts. Even if you are attracted by the high leverage or low advertised deposit minimums, those features are worthless if you cannot withdraw.

If you have already deposited money with 70Trades, attempt to withdraw immediately. Document all communications and be prepared to escalate complaints to the Seychelles FSA, although the chances of recovery through that channel are low. Consider seeking chargebacks through your bank or card provider if you used credit cards.

For those still exploring, stay away. There are numerous brokers with stronger regulation and transparent operations. Use tools like our Scam Risk Score to compare brokers before committing funds. Always verify a broker’s licence on the official regulator’s website, and never trust a broker that hides its withdrawal terms.

FXCanary’s investigation leaves no room for doubt: 70Trades is a high‑risk, guarded‑status broker that has systematically harmed its clients. The evidence overwhelmingly suggests that deposits are lost, not invested.