The Tesler Trading App is actually a scam Forex trading robot, that originally opened in December 2016, by a Fake man named Steven Abrahams of Tesler Investments. Fast forward to 2022, and there are still ads for this software on Instagram (see screenshot).
Before you become the next victim of the Tesler Trading scam, here is what you need to know about trading Forex CFDs. Online scammers have been promoting this trading app in many countries, including the United Kingdom, without a license and against FCA rules.
Don’t Lose Your Money! See How The Scam Works
Tesler Trading App Scam
If you just stop for a minute and think, you would notice so many red flags with Tesler Trading.
- They promise $5700 by tomorrow, but you must first invest $250 with a scam Forex broker.
- Tesler Trading said that you should use their app, but a simple search on Google Play only shows a Tesla Motors app.
- Every week they are using a different URL, first it was; teslersoftwareapp.com, then appteslerapp.com and now The-Tesler.com. As for November 2022, the website they are advertising is at: teslersx.info
No one actually knows where there real software is, or how to login. And with all that, you think that this is a product which will make you rich?
Don’t be a fool, and fall for a cheap scam!
Tesler Trading App Review
When we first saw the Tesler App website, we thought that they had created a mobile app for trading Forex. There were buttons on the website to download the app on iTunes and on Google Play. Sadly, when we clicked on the button, it simply asked us to enter our name and email address, and after that they redirect us to an offshore CFD broker. Another time when we signed up, they redirected us to a page that almost looked like it was broken, see picture below.
The trading app gave us zero controls. We could not select the dollar amount per trade, or how many trades the software will make each day. The only option available, was for us to set the “Amount of Trade”. This Tesler App is reeking of a scam with the limited options it gave us.
Using a software for automated trading is extremely risky even with the best trading robots.
Warning! Stay Away From Offshore Brokers
When we tested the Tesler Trading App for this review they gave us a trading account at the broker Brighter Trade, an offshore broker that is not licensed or regulated. This was already a few years ago, and naturally the broker is gone and their website no longer works.
After reviewing more than 800 trading apps and brokers since 2013, it is safe to say that they only safe place to trade is with a regulated broker. The problem using an unlicensed broker is that your money is not protected! Serious investors will always trade directly at a legally licensed broker, look here.
Warning from ASIC Australia
“ASIC urges all investors considering investing online, to check they are dealing with an entity that holds an Australian financial services licence.”
Only use a Regulated Broker!
As a newbie investor, you don’t realize that all online brokers must be licensed and regulated by the government. If you are Australian, then you should be using a broker that is licensed by ASIC. If you are Canadian, then use a local broker that is licensed by the IIROC.
If you think that using an offshore broker is just as good, then head over to the complaints page. You will see what happened to people who used an offshore broker, and lost all their money.
Share your experience using the Tesler Trading App with other investors. Tell them how much money you made or lost, in the comments section below.