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Tesler Trading Review 2024 | Legit or Scam?

tesler trading review

Did you know Tesler Trading holds a startling 1.4-star rating out of nearly 200 reviews, with a whopping 90% of users rating it just one star? Such figures are alarming and prompt us to delve deeper into whether Tesler Trading is a legitimate platform or merely another online trading scam.

Our comprehensive Tesler Trading review investigates the legitimacy of this platform amid mounting user complaints of dubious practices, including unsolicited phone calls, misleading adverts, and aggressive sales tactics. Significantly, several reviews suggest that Tesler Trading might be a part of an elaborate cryptocurrency scam. One user even reported receiving over 200 nuisance calls from the company in a shocking instance of harassment.

Operating within the realm of financial investments, Tesler Trading’s reputation has been tarnished by these practices. With cases of users losing substantial amounts of money and widespread advice to avoid the platform, the scrutiny is high. Examining trading standards and reviewing firsthand accounts, we aim to uncover the truth behind Tesler Trading’s operations.

Key Takeaways

  • The platform has an average rating of 1.4 stars based on numerous reviews.
  • 90% of reviews rated Tesler Trading with just one star, citing negative experiences.
  • Unsolicited calls, with some users receiving over 200 calls, raise serious concerns.
  • Multiple instances of misleading advertising and aggressive sales tactics reported.
  • Several users claim financial losses and advise against using the platform.

Introduction to Tesler Trading

The Tesler app has emerged as a noteworthy contender in the realm of cryptocurrency trading. Launched in 2016, the investment platform has quickly garnered attention for its ambitious claims of facilitating significant market earnings with minimal effort. Promoted extensively through social media and various online advertisements, Tesler Trading appeals to individuals keen on leveraging the lucrative opportunities in the cryptocurrency markets.

Background and Launch

Since its inception, Tesler Trading has aimed to simplify the complex world of cryptocurrency trading. The platform promises a user-friendly experience, enabling users to engage in automated trading with a claimed 85% success rate. Notably, the Tesler app operates in over 150 countries, making it accessible to a broad audience. Users are required to make a minimum deposit of €250 to begin trading, which is a relatively low entry barrier in the investment platform space.

Promised Benefits

The Tesler app touts several appealing benefits to its users. One of the most significant advantages is its quick trade execution, which is critical in the fast-paced cryptocurrency markets. Users have reported impressive earnings, such as $14,000 within just eight days and up to $8,000 weekly. The investment platform’s automated trading capabilities allow users to capitalize on market earnings without constant oversight. Furthermore, Tesler Trading offers leveraged trading up to $15,000 and charges brokers a minimal 0.01 percent commission on profits, the lowest in the industry. The platform claims to process fund withdrawals within 24 hours, ensuring that users can access their earnings promptly.

User Reviews and Experiences

The experiences with the Tesler Trading app vary drastically among its users. Given the platform’s claim to an 85% success rate, one might expect uniformly positive feedback. However, our dive into user testimonials reveals a more complex picture.

Positive Reviews

Some users have praised the Tesler Trading app for its robust functionality and ease of use. These trading app reviews highlight the platform’s user-friendly interface and efficient trade execution. Certain users reported earning significant profits, with some claiming earnings as high as $14,000 in just 8 days or $8,000 weekly. A notable 95% of users rated Tesler Trading a perfect 10 out of 10, reflecting a high level of satisfaction for some. Moreover, the quick fund transfer within 24 hours and the absence of trading fees are aspects that users appreciate, considering these factors add to the platform credibility.

Negative Reviews

Despite positive feedback, numerous users have left trading app reviews indicating dissatisfaction. Much of the negative sentiment stems from aggressive follow-ups and unyielding contact strategies employed by the company. These Tesler Trading app experiences have led to distress among users, casting doubt on the authenticity of the positive reviews. Additionally, concerns regarding persistent and invasive communication tactics used by the platform have overshadowed the potential for profitability, thereby tarnishing its overall reputation.

Summing up, the Tesler Trading app experiences show a mixed reception, with significant disparities between highly positive and extremely negative user testimonials. Such a range of experiences necessitates further scrutiny into the platform’s operational strategies and user support systems.

Common Complaints and Issues

In our analysis of Tesler Trading, several recurring themes emerge from user feedback, indicating widespread trading app complaints, customer dissatisfaction, and significant financial loss. The most commonly reported issues involve aggressive communication and pushy sales tactics.

Users frequently highlight the disturbance caused by persistent phone calls, often at inconvenient hours. Despite indicating a lack of interest, the relentless nature of these calls seems to add to the growing frustration among many.

Another primary concern centres around misleading advertising strategies. Prospective traders are often lured in with promises of exceptional returns, only to encounter financial losses. As such, it is no surprise that these deceptive practices lead to significant disenchantment and a marked sense of betrayal.

Adding to the grievances, some users report feeling financially exploited. This distressing situation often stems from unclear fee structures or unexpected charges, exacerbating the sense of customer dissatisfaction.

  • Persistent phone calls
  • Misleading advertising tactics
  • Financial exploitation

Compounding these issues, some have faced challenges with account management, including difficulties in withdrawing funds. This has heightened the sense of frustration, particularly for those who have incurred financial losses.

Evaluation of Customer Service

In our customer service evaluation of the Tesler Trading app, we focus on several aspects including support response time and overall service quality. Effective customer service is crucial for users, especially when dealing with technical issues or transaction glitches. Let’s dive into the specifics:

Response Time

One key metric in our customer service evaluation is the support response time. The Tesler app claims to provide reliable customer support, and our findings suggest that they indeed have mechanisms in place to assist users promptly. However, various user reviews have pointed to inconsistencies in response times. While some users report swift resolutions, others have experienced delays, which can compromise service quality during critical trading moments.

Customer Service Issues

Despite the platform’s efforts to maintain high service quality, several issues have been continuously raised by users. A major concern is the difficulty in unsubscribing from marketing communications, as recounted by individuals like Flavio Vianna. Persistent marketing calls can be highly intrusive, and the failure to cease such communications, despite repeated requests, reflects poorly on the service quality. Additionally, users have also reported sporadic lapses in resolving technical issues, which can be particularly frustrating during trading operations.

Overall, while Tesler offers a generally reliable support system, these ongoing customer service issues indicate that there is room for improvement to enhance the support response and elevate the overall service quality.

Security and Safety Concerns

The security of any trading platform is paramount, and Tesler Trading raises several red flags in this domain. A persistent worry among users is the misuse of their personal information. Reports have surfaced regarding Tesler Trading’s unauthorised sharing of contact details with third-party entities, compromising personal information safety and exposing users to various cyber safety risks.

Ensuring trading platform security is critical, but Tesler Trading has fallen short by allegedly allowing unauthorised access to sensitive customer information. This practice not only breaches user trust but also puts individuals at risk of becoming targets for phishing and other cyber-attacks.

In stark contrast, platforms like Trading 212, with its 2.5 million users across Europe, demonstrate robust security measures. Trading 212’s adherence to regulation by CySEC in Cyprus and offering of €1 million insurance protection illustrate a firm commitment to trading platform security and personal information safety. Additionally, the platform’s engagement in securities lending, while standard, is clearly disclosed, ensuring transparency with its users.

Recent investigations, such as those by the Hamilton Police Fraud Unit regarding cryptocurrency scams, highlight the critical nature of cyber safety in the trading world. The pitfalls of these environments underscore the importance of stringent security practices. Victims have faced severe financial losses due to fraudulent schemes disguised as legitimate investments, further emphasising the need for robust trading platform security.

Moreover, platforms like Tesla have faced significant security challenges, with incidents of poor safety in self-driving cars leading to investigations and recalls. This juxtaposition serves as a reminder that both product and cyber safety are integral for maintaining user trust and protecting investments.

As users, we must prioritise platforms that offer comprehensive security features to safeguard our assets and information. Tesler Trading’s current standing raises concern, underscoring the necessity for stringent security protocols and transparent practices to ensure our trading experience remains secure and reliable.

Regulatory Status and Legal Issues

The regulatory compliance of Tesler Trading has been a subject of extensive debate, primarily due to its lack of transparency. The legal status of trading platforms like these often hinges on their adherence to financial authority regulation, which is something that needs close examination here.

The forex market operates around the clock with four main hubs in London, New York, Tokyo, and Sydney, each governed by their respective regulatory bodies. In the UK, forex trading is legal and regulated by the Financial Conduct Authority (FCA), which sets a precedence of high standards for regulatory compliance.

However, concerns arise when a trading platform fails to meet these standards, leading to serious legal issues. For instance, there have been numerous complaints against various trading and crypto platforms:

  • Complainants on Coins Fast Trades lost significant amounts after being unable to withdraw their funds.
  • Users on Coin Bitcoinbitjszc.top reported losing upwards of $130,000 without being able to access supposed profits.
  • Victims on Phemex.icu (which impersonated Phemex) lost more than $65,000 due to failure in fund withdrawal processes.
  • Platforms such as m.luckyzoom.top and Bikexpor.com, as well as BEX EX, were involved in issues where users could not recover their funds.

Despite the legal existence of over 170 currencies globally traded in the forex market, and major pairs like EUR/USD, USD/JPY, and GBP/USD dominating three-quarters of all transactions, an absence of proper financial authority regulation can lead to high speculation risks. Moreover, investment in non-sterling currencies exposes investors to fluctuating exchange rates, further underscoring the need for strong regulatory frameworks.

Reviews on pertinent crypto exchanges reveal a disturbing trend: while some entities like itBit are regulated by the New York Department of Financial Services, others like Bittrex and Bitfinex lack any regulatory scrutiny, posing financial and legal risks to users. Effective regulatory compliance ensures trust and safety for investors, aiming to avert legal challenges and secure capital investments.

Ultimately, it is crucial for us to scrutinise the regulatory status of trading platforms such as Tesler Trading. Thorough verification of their legal standing and adherence to financial authority regulation is critical to safeguarding investments and ensuring a transparent trading environment.

Comparison with Other Trading Platforms

When we conduct a trading platforms comparison, it’s crucial to address the user interface satisfaction and overall platform performance. Tesler Trading, when juxtaposed with its competitors, often garners mixed reviews. Several users highlight dissatisfaction with its user interface satisfaction and raise concerns about the platform’s operational efficiency.

User Interface and Experience

A key aspect of any trading platform is its user interface. During our trading platforms comparison, we found that the user interface satisfaction of Tesler Trading is significantly lower than platforms such as Plus500 and eToro. Users have pointed out that navigation can be cumbersome, and the overall design lacks intuitiveness, leading to a less user-friendly experience. This has resulted in a growing number of negative reviews from the trading community.

Performance and Features

Examining the platform performance further, several distinctions emerge. A comparative analysis conducted among major platforms revealed that Plus500 boasts an average execution speed of 0.01 seconds faster than both eToro and Saxo Bank. In contrast, Tesler Trading struggles to keep up, with users frequently citing lagging issues and a lack of real-time updates as major drawbacks. Therefore, in our trading platforms comparison, the emphasis on both user interface satisfaction and overall platform performance becomes evident, positioning Tesler Trading behind its competitors.

Moreover, the platform features are another area where Tesler Trading needs to improve. While other platforms provide a rich array of tools for technical and fundamental analysis, users report that Tesler Trading falls short, lacking critical functionalities to support a seamless trading experience.

Is Tesler Trading a Scam?

In our trading scam analysis of Tesler Trading, we find a plethora of distressing user reviews and experiences which paint a troubling picture. The platform operates in the Alternative Financial Services category, yet, despite boasting an 85% success rate for automated trades and fee-free trading with a minimum deposit of $250, the majority of its user feedback is overwhelmingly negative.

The distribution of review ratings is notably poor:

  • 5-star: 6%
  • 4-star: 3%
  • 3-star: 0%
  • 2-star: 1%
  • 1-star: 90%

The average rating suggests severe dissatisfaction, with 90% of reviews rating Tesler Trading just 1-star. This substantial negativity is further corroborated by the nature of the complaints. Persistent nuisance calls, with some users reporting over 200 calls, bombard users to the point of distress. One user reported being contacted by call centres in Pakistan using Norwegian phone numbers, while another had their family emergency disrupted by incessant calls.

Users also recount financial losses, sparking fears of cryptocurrency scams. Several reviewers vehemently advise against sharing personal information due to relentless calls and a lack of professionalism, raising serious concerns about the investment platform legitimacy of Tesler Trading.

While Tesler Trading flaunts a claimed success rate of 85% and promotes high user satisfaction with swift withdrawals and a user-friendly design, the disparity between these claims and user testimonials is stark. Thus, the question of whether Tesler Trading is a scam remains hotly debated. We urge potential investors to perform their own due diligence, considering both the positive claims and the overwhelming negative feedback before making any investment decisions.

Pros and Cons of Tesler Trading

Evaluating the Tesler Trading platform requires a balanced review of both its advantages and disadvantages. The stark contrast between promised benefits and user realities paints a complex picture. Here, we provide an objective look at the various aspects of the platform.

Pros

  • High Claimed Win Rate: Tesler Trading claims an impressive win rate of 84%, which can be enticing for potential traders.
  • Demo Account: New users can benefit from a demo account rated 9.4/10, enabling them to practice trading strategies before risking actual funds.
  • No Fees: There are no trading, account, deposit, or withdrawal fees, making it attractive for cost-conscious traders.
  • Multiple Cryptocurrencies Supported: The platform supports trading of popular cryptocurrencies including BTC, ETH, LTC, and XRP, catering to a diverse range of interests.
  • Ease of Use: Tesler Trading offers a user-friendly interface, making it accessible even for those with no prior crypto trading experience.
  • Fast Withdrawals: A claimed withdrawal timeframe of 24 hours ensures quick access to funds.
  • Versatile Access: Users can operate the platform from any device – whether it’s a laptop, iOS, or Android.

Cons

  • Massive Negative Reviews: With 90% of reviews rating Tesler Trading at just 1 star, the overwhelming sentiment in user feedback is negative, reflected in the average rating of 1.33 stars.
  • Potential Risks: Despite claiming a high win rate, the risks associated with trading, combined with reported financial losses, indicate substantial financial risk.
  • Unrelenting Marketing Practices: Some users have reported aggressive marketing tactics, which can be off-putting for many.
  • Lack of Transparency: There’s no information about the development team, causing concerns about the platform’s credibility and trustworthiness.
  • Verification Issues: The required introductory phone call/KYC might be a deterrent for some users aiming for a smooth onboarding process.
  • High Leverage: While a leverage of 5000:1 can magnify gains, it also significantly increases the risk of loss.

User Tips and Best Practices

For those navigating the tumultuous waters of online trading, especially with platforms like Tesler Trading, it’s paramount to focus on legitimate strategies to maximise profits and exercise caution to avoid pitfalls. Our experience and dedication to sound trading tips can make a tangible difference in your financial journey.

Maximising Profits

Maximising crypto returns involves a disciplined approach. With over 7 years of investing experience, we can attest to the importance of a robust strategy. One effective method involves using a 2000 tick chart combined with a 200 EMA, and optionally the Williams Alligator or MACD indicators. Typically, risking 2 points per trade, where each point equates to a $100 risk for a single contract, we ensure that winners surpass losers over time. For instance, achieving a 9-point gain while risking 2 points has proven successful.

Furthermore, the Williams Alligator tool aids in determining entry and exit points, emphasising the necessity of not trading against the trend. With an 84% win rate, following these guidelines can greatly enhance profit potential.

Avoiding Pitfalls

When it comes to avoiding online scams, due diligence is crucial. Platforms like Tesler Trading offer significant advantages such as no trading fees, high leverage (5000:1), and a minimum deposit of only £250. Nonetheless, it’s essential to remain vigilant. Here are a few key pointers:

  • Ensure the platform is SSL certified to guarantee security.
  • Pay attention to the minimum deposit requirements and withdrawal timeframes, like Tesler Trading’s 24-hour period.
  • Utilise the free demo account to familiarise yourself with the platform before committing real funds.
  • Leverage the market signals feed provided by high-ranking platforms.
  • Always verify through introductory phone calls or KYC procedures.

Lastly, always be sceptical of extravagant promises and rely on trusted platforms to safeguard your financial interests.

Tesler Trading Review 2024

As we delve deeper into the 2024 Tesler Trading overview, it is essential to scrutinise the reviews and feedback surrounding this trading platform. A detailed trading platform analysis reveals a significant distribution of user ratings, with a staggering 90% of reviews casting a shadow over the platform’s legitimacy. Positive reviews are minimal, with only 6% awarding 5 stars and a mere 3% granting 4 stars. In contrast, 2-star reviews account for 1%, and there are no 3-star reviews.

The financial investment review is further complicated by user testimonials that frequently mention issues such as persistent phone calls, harassment, and potential scam activities. Review dates span from 18 June 2021 to 15 May 2024, pointing to a consistent pattern of concerning behaviour over an extended period. Notable reviewers, including Michael and Julie Hogan, who together have submitted nearly 60 reviews, highlight significant reservations about providing personal information to the platform.

The Tesler investments app claims impressive earnings, with potential income up to $237 per hour for a mere 5 minutes of use and possible daily earnings reaching approximately $5000 with professional trading practices. Despite these enticing figures, user sentiment strongly advises caution. The app provides 24/7 customer support, automated and manual trading options, and prioritises safety features. It supports various devices, making it accessible for both Android and iOS users.

While the app presents itself as a viable option for both seasoned and novice traders, offering features like demo accounts and the lead pattern algorithm for identifying trading signals, the overwhelming negative feedback necessitates a cautious approach. The experiences shared by users like Kingsman and Big Daddy, who have reviewed extensively, echo a call for due diligence in verifying the platform’s credentials before diving into financial commitments.

  • 5-star reviews: 6%
  • 4-star reviews: 3%
  • 2-star reviews: 1%
  • 1-star reviews: 90%

In summary, ongoing vigilance and comprehensive research remain paramount for those considering Tesler Trading in 2024. Careful examination of the 2024 Tesler Trading overview, coupled with an expert trading platform analysis, forms the cornerstone of a well-rounded financial investment review for discerning investors.

Conclusion

After an exhaustive review, our final verdict on Tesler Trading underscores the significance of treading carefully when considering this platform. Despite the Tesler Investments App’s promises of automated trading, daily updates on British business impacts, and zero hidden fees, user feedback speaks volumes. An overwhelming 90% of users have given it a 1-star rating, with only 6% awarding it 5-stars and a mere 3% offering 4-stars. This glaring disparity in satisfaction levels cannot be ignored.

Moreover, while the platform touts its cost-effective trading environment and versatility in trading forex, stocks, and cryptocurrencies, the common complaints highlight issues that potential users might find hard to overlook. These reviews serve as a valuable scam review summary, urging us to reconsider engaging with Tesler. Although Tesler claims all listed businesses are legitimate and assures the elimination of excessive cross-border transaction fees for Britons, these benefits seem overshadowed by the negative ratings and user experiences.

Given the significant role that investments play in nearly 1% of Britain’s GDP, and with no caps on the amounts that can be invested in UK businesses from the EU, finding a trustworthy platform is paramount. Although Tesler was created by Steven Abrahams in 2017 to facilitate automated trading, the mixed reactions necessitate a composite investment guidance approach. In light of this, we strongly advise potential investors to proceed with caution and to explore more reliable and transparent trading avenues. We hope our detailed examination aids in making an informed decision.

FAQ

Q: What is the Tesler Trading platform?

A: The Tesler Trading platform is an online investment service that operates within the cryptocurrency trading sphere. It claims to offer substantial market earnings with minimal effort, targeting individuals interested in exploring financial ventures.

Q: Is Tesler Trading a legitimate and trustworthy platform?

A: The legitimacy of Tesler Trading is highly contentious. Numerous user experiences suggest the platform employs questionable operations, including incessant unsolicited phone calls, unauthorised use of personal details, and aggressive sales tactics. Many users have reported significant distress, raising serious concerns about its legitimacy.

Q: What kind of benefits does Tesler Trading promise?

A: Tesler Trading promotes itself as an easy and lucrative investment platform, claiming to offer substantial market earnings with minimal involvement. However, these promises are heavily disputed by numerous users.

Q: Are there any positive reviews about Tesler Trading?

A: While there are some positive reviews, they are greatly overshadowed by the overwhelmingly negative user experiences. There are also suspicions regarding the authenticity of the positive feedback given the critical nature of the majority of user testimonials.

Q: What are the common complaints about Tesler Trading?

A: Common complaints about Tesler Trading include incessant phone calls at all times, misleading advertisements, financial exploitation, and unauthorised use of personal information. Many users have described these interactions as distressing and intrusive.

Q: How does Tesler Trading’s customer service respond to issues?

A: There are significant concerns about Tesler Trading’s customer service, particularly in terms of response time and issue resolution. Many users have reported difficulties in ceasing communication and unsubscribing from the service, often facing continuous marketing advances despite requests for removal.

Q: What kind of security and safety concerns are associated with Tesler Trading?

A: Users have reported serious security concerns such as unauthorised sharing of their contact details with third-party entities, which could lead to an invasion of privacy and potential cyber-related risks.

Q: Is Tesler Trading regulated by any financial authorities?

A: The regulatory status of Tesler Trading is unclear, with a lack of transparency regarding its compliance with financial authorities. This raises legitimate concerns about potential legal issues and the misrepresentation of their services.

Q: How does Tesler Trading compare to other trading platforms?

A: When compared to other trading platforms, Tesler Trading’s user interface and experience are heavily criticised, primarily due to the negative user feedback concerning its operations. Other platforms may offer more user-friendly experiences and transparent operations.

Q: Are there any tips for maximising profits while avoiding pitfalls in online trading?

A: To maximise profits while avoiding pitfalls in online trading, it is crucial to conduct due diligence, remain sceptical of extravagant promises, and stick to trusted platforms. Approaching trading with caution and analytical insight can safeguard one’s financial interests.

Q: What is the overall conclusion about Tesler Trading in 2024?

A: The Tesler Trading platform remains a contentious issue, with extensive evidence indicating potential unethical practices. Users are advised to proceed with exceptional caution if considering engagement with Tesler Trading and to seek more reliable and transparent trading avenues.

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