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Author Topic: BEWARE of Trade by Trade Exchange! SCAM  (Read 244 times)
MrFanelli
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March 18, 2018, 09:50:47 PM
 #1

Hello, I recently signed up, became authorized at, and sent funds to an exchange called Trade by Trade. I proceeded to trade BTC for FLO, as I wanted to get some FLO coins. I then tried to withdraw the FLO coins and the message "Withdrawal Failed" would pop up. No explaination, nothing. So i sent a support ticket and waited 24 hours. Nothing. I reached out on twitter and facebook and they finally responded to my support ticket, here is the response;

Michelle Burns
Staff – fa 32 minuts via Email

Dear user, Thanks for contacting us. Apologies for the late reply. Kindly note that for now, users are only able to withdraw BTC, TCN and LTC; not USDT or FLO etc. We are currently working on making other cryptocurrencies available to withdraw, for this reason there is the option for you to withdraw other coins such as USDT and FLO etc. Sorry for any inconvenience caused. However, we have a solution! Note that you may trade/ sell your USDT or FLO COINS for BTC or TCN and withdraw those after it has been traded until the withdrawal tool for other COINS are completed. Thanks for your time and cooperation. Best Regards, TBT Support Team.


So i read over the terms of use for a second time. There is NOTHING that states that this is the case, in face the FAQ even states this;

General
General FAQs

Can I transfer my tokens to other platforms?
Yes, you can transfer your tokens to other platforms....

The terms of service state this;

Trade By Trade does not allow Users to exchange Tokens for money; Users can only exchange Tokens for other Tokens. In order to fund your Account and begin trading, you will need to first procure Tokens. Once procured, you must send Tokens to the address provided by Trade By Trade and wait for the balance to appear in your Account.

17. OWNERSHIP OF TOKENS

You hereby certify to us that any Tokens used by you in connection with the Platform are either owned by you or that you are validly authorized to carry out transactions using such Tokens, and that all transactions initiated with your Account are for your own Account and not on behalf of any other person or entity.




So long story short, I am being scammed. I was lucky to pick up a sell order after 16 hours, but now there are buy orders to even dump the coins that I WANT. This is unethical and unacceptable, please DO NOT send your tokens or business to this scam of an exchange.

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May 02, 2018, 02:30:37 PM
 #2

Hello,

I've also had a devastating experience using this exchange.
I deposited some btc to buy a coin which was rare and wasn't listed in many exchanges. That was a big regret. Not only the exchange had so little volume that my buy orders wouldn't get filled-I know I should've done the volume research that's my mistake-, but they did everything they could to complicate and delay withdrawal.

They initially give you 0.3 btc daily withdrawal limit. (That's about less than %15 of what major exchanges like binance give) And it says "Submit ID Verification to increase withdrawal limit." So I uploaded photos of my national ID. It took 2 days and two support tickets to verifty my ID. (I needed the btc urgently and I didn't want to withdraw in two posts to avoid double transaction fees, so I sent them many tickets and they only answered the first two, apologising for the delay and informing that my id verification was successful) And guess what? The withdrawal limit didn't increase. It turns out that I'd have to upload my passport, driver's license and a utility bill Shocked . They didn't even answer any of my tickets after that. So I had to withdraw in two posts. The transaction fee? 0.0015. (again, that's 3 times what other exchanges charge-they probably take profit from a portion of that). In the end, I spent 0.003 btc by only depositing and withdrawing from the exchange (I didn't have a chance to trade bc of low volume).

If anyone is considering depositing money to this exchange, DO NOT DO IT. Use a major exchange.




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May 02, 2018, 04:20:33 PM
 #3

thanks very much for your alert. much appreciated. too many such mini exchanges popping up these days. we need to be more careful and search for reviews etc. before signing up.

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May 02, 2018, 04:47:25 PM
 #4

Hello, I recently signed up, became authorized at, and sent funds to an exchange called Trade by Trade. I proceeded to trade BTC for FLO, as I wanted to get some FLO coins. I then tried to withdraw the FLO coins and the message "Withdrawal Failed" would pop up. No explaination, nothing. So i sent a support ticket and waited 24 hours. Nothing. I reached out on twitter and facebook and they finally responded to my support ticket, here is the response;

Michelle Burns
Staff – fa 32 minuts via Email

Dear user, Thanks for contacting us. Apologies for the late reply. Kindly note that for now, users are only able to withdraw BTC, TCN and LTC; not USDT or FLO etc. We are currently working on making other cryptocurrencies available to withdraw, for this reason there is the option for you to withdraw other coins such as USDT and FLO etc. Sorry for any inconvenience caused. However, we have a solution! Note that you may trade/ sell your USDT or FLO COINS for BTC or TCN and withdraw those after it has been traded until the withdrawal tool for other COINS are completed. Thanks for your time and cooperation. Best Regards, TBT Support Team.


So i read over the terms of use for a second time. There is NOTHING that states that this is the case, in face the FAQ even states this;

General
General FAQs

Can I transfer my tokens to other platforms?
Yes, you can transfer your tokens to other platforms....

The terms of service state this;

Trade By Trade does not allow Users to exchange Tokens for money; Users can only exchange Tokens for other Tokens. In order to fund your Account and begin trading, you will need to first procure Tokens. Once procured, you must send Tokens to the address provided by Trade By Trade and wait for the balance to appear in your Account.

17. OWNERSHIP OF TOKENS

You hereby certify to us that any Tokens used by you in connection with the Platform are either owned by you or that you are validly authorized to carry out transactions using such Tokens, and that all transactions initiated with your Account are for your own Account and not on behalf of any other person or entity.




So long story short, I am being scammed. I was lucky to pick up a sell order after 16 hours, but now there are buy orders to even dump the coins that I WANT. This is unethical and unacceptable, please DO NOT send your tokens or business to this scam of an exchange.



Thankyou very much for the information you provided, this serves us as a warning not to trade on on this Exchange. And this is the main reason also why I dont like to trade in a small Exchanges. I just use Bittrex, Binance, CoinExchange and Kucoin and Idex for the fear that there are issues always on Withdrawals and Deposits thats why I avoid other Exchanges.
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May 02, 2018, 07:47:03 PM
 #5

`snip`

Thats a poor service given into this non so popular exchange.Question is,why you people do make such use of this exchanges which arent really reputable?You would just only complain in the end when you face such issues which is actually your own fault why you engage yourselves unto them.
You are not being scammed but rather you get caught on the dump or price decrease.As a business they should really make an update FAQ on this case so that traders or potential depositors is aware on the recent issue or system that is working on the exchange.

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Fendi23
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May 02, 2018, 08:17:22 PM
 #6

what the name exchange do you mean sir??before we doing purchase for altcoin would be nice to make a purchase to a trusted exchange such as bittrex,kucoin and etc.make a purchase profitable altcoin too

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June 08, 2018, 12:06:19 PM
 #7

`snip`

Question is,why you people do make such use of this exchanges which arent really reputable?

I was looking to invest in a low-volume coin which was appealing after technical analysis, and it was only listed in tradebytrade and one or two other exchanges. It had the highest volume on tradebytrade so I chose that.
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June 08, 2018, 01:22:13 PM
 #8

Thank  you for sharing!
As a growing exchange platform, we don't trade Florin (FLO), but what was done by this "Trade by Trade" is just ridiculous, it can't be justified in any way
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June 11, 2018, 06:58:57 PM
 #9

Unfortunately, I read this post too late...
This 'exchange' is indeed a scam. Not only do they blatantly lie in their FAQ (it is impossible to withdraw altcoins), they have lots of fake volume. There are no transactions, nor any history of trades, yet they appear to have big volume on some coins.
When I try to sell 0.63 DASH, it shows as a sell order of 1.09 DASH. The price of coins changes, but there is no evidence of any trade whatsoever.

Please stay away from this scam!!!
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June 11, 2018, 08:33:16 PM
 #10

Unfortunately, I read this post too late...
This 'exchange' is indeed a scam. Not only do they blatantly lie in their FAQ (it is impossible to withdraw altcoins), they have lots of fake volume. There are no transactions, nor any history of trades, yet they appear to have big volume on some coins.
When I try to sell 0.63 DASH, it shows as a sell order of 1.09 DASH. The price of coins changes, but there is no evidence of any trade whatsoever.

Please stay away from this scam!!!
So far i have tried out to search informations or reviews of this exchange but i do only find out this thread feedback only. I dont know if it would already be enough to justify but basing on experiences turns out to be legit.

I have checked out one of review sites that this exchange do have: No fiat currencies, not suitable for beginners,High withdrawal fees,Unknown company background,Low trading volumes on many instruments
with these things you can able to know on whom you are dealing with.

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June 12, 2018, 07:14:57 AM
 #11

Also I can say about stocks.market. Their system is not protected, my account was hacked, but I had a good password. After that support juct deleted my account.
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June 12, 2018, 07:41:22 AM
 #12

Be careful guys, have to research first before you decide to transact with exchange sites because there are lots of scammers online in any field much more in crypto nowadays. I've read lots of negative feedback from different trading platform the reason why we really need to conduct a background check in every exchanges before we jump into it to avoid being scammed by people who do evil stuff by taking our hard earned money.

Lesson learned from all who experienced the same thing, I hope you have to take good care and do some background check every time you make some transaction.

Thank you for spreading this information for us and others to be aware!

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August 28, 2018, 05:26:04 AM
 #13

Thanks for sharing.
Saved me from trying them out.
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August 28, 2018, 06:55:54 AM
 #14

This is true this kind of problem faced by every body but it is good if you exchange transact in small token it will help. if some alt coin needs PM me.
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August 28, 2018, 12:37:12 PM
 #15

there is a lot of cheating on this market you have to be very careful for him brother. There are a lot of cheat sites in the stock market ico. hope one more nobody can live it everybody chasing fraud friend

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August 28, 2018, 01:19:07 PM
 #16

A very unpleasant situation turned out. Thanks for the heads-up. I advise you to use the exchange with a good reputation and a large volume of trading.

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August 28, 2018, 01:32:14 PM
 #17

Yes that's great news bro and there are many others which are fake and looting the people money in the name of the trusted exchanges.

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August 28, 2018, 02:53:36 PM
 #18

Hello, I recently signed up, became authorized at, and sent funds to an exchange called Trade by Trade. I proceeded to trade BTC for FLO, as I wanted to get some FLO coins. I then tried to withdraw the FLO coins and the message "Withdrawal Failed" would pop up. No explaination, nothing. So i sent a support ticket and waited 24 hours. Nothing. I reached out on twitter and facebook and they finally responded to my support ticket, here is the response;

Michelle Burns
Staff – fa 32 minuts via Email

Dear user, Thanks for contacting us. Apologies for the late reply. Kindly note that for now, users are only able to withdraw BTC, TCN and LTC; not USDT or FLO etc. We are currently working on making other cryptocurrencies available to withdraw, for this reason there is the option for you to withdraw other coins such as USDT and FLO etc. Sorry for any inconvenience caused. However, we have a solution! Note that you may trade/ sell your USDT or FLO COINS for BTC or TCN and withdraw those after it has been traded until the withdrawal tool for other COINS are completed. Thanks for your time and cooperation. Best Regards, TBT Support Team.


So i read over the terms of use for a second time. There is NOTHING that states that this is the case, in face the FAQ even states this;

General
General FAQs

Can I transfer my tokens to other platforms?
Yes, you can transfer your tokens to other platforms....

The terms of service state this;

Trade By Trade does not allow Users to exchange Tokens for money; Users can only exchange Tokens for other Tokens. In order to fund your Account and begin trading, you will need to first procure Tokens. Once procured, you must send Tokens to the address provided by Trade By Trade and wait for the balance to appear in your Account.

17. OWNERSHIP OF TOKENS

You hereby certify to us that any Tokens used by you in connection with the Platform are either owned by you or that you are validly authorized to carry out transactions using such Tokens, and that all transactions initiated with your Account are for your own Account and not on behalf of any other person or entity.




So long story short, I am being scammed. I was lucky to pick up a sell order after 16 hours, but now there are buy orders to even dump the coins that I WANT. This is unethical and unacceptable, please DO NOT send your tokens or business to this scam of an exchange.


Thanks for this information. You don't know how many people your would have saved from this scam. These guys will never stop! There numbers is constantly on the rise.
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August 22, 2019, 10:57:27 PM
 #19

I'm a victim of the freaking scamming site they have a robot answering their support by Michelle Burns beware of this trade by trade they will hang you out to dry lots of people are getting scammed and authorities are doing nothing I have alerted CMC who will be putting a alert of this exchange we need to get this exchange shut down as more people are getting sucked and they have false volumes please what can we do to make more of difference I hate to loose.




thanks very much for your alert. much appreciated. too many such mini exchanges popping up these days. we need to be more careful and search for reviews etc. before signing up.
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August 23, 2019, 11:30:09 PM
 #20

I've also experienced it twice, but fortunately only a little, the range is 0.1 btc and also 0.6 eth, I reported to the support ticket there was a response he said to be told to wait, I waited 1-2 weeks but there was no balance I reported again he told me to wait but none until now

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