Today, we present to you a ToroHive review — a story about yet another scam broker that desperately wants to become your trusted partner in online trading. They are ready to offer traders plenty of “enticing perks”: the best trading platform and a unique set of conditions. From our perspective, however, the only thing this platform guarantees is the complete loss of your invested funds. That’s exactly what we’re here to discuss.
Key Features
- Company Name: ToroHive
- Website: https://torohive.com/
- Available Contacts: [email protected]; +310 841 5500
- Foundation: 2024
- Services: Forex/CFD trading
- License: No
- Initial Deposit: $250
From Sign-Up to Payout
The official website of ToroHive makes quite the impression at first glance. In fact, it’s been a while since we’ve come across such a useless homepage. The developers have managed to render its informational value to traders absolutely null. The only elements worth mentioning here are the Register and Login buttons. Everything else (aside from the header and footer, of course) is something visitors can easily do without.
Oh, we almost forgot. There’s some useful information for those who enjoy earning through referrals. The site dedicates three sentences to outlining the referral program, specifying the rewards for invited users and the bonuses for registering via a referral code. Perhaps the site was created exclusively for the broker’s future partners?
This idea is supported by the overall content and functionality of the pages:
- The latest blog posts were published in February 2024. It seems that since then, nothing noteworthy has happened in the global economy or in the broker’s life that would merit a new article.
- There’s no information about the company on the website at all (apart from a Bangladeshi address and a phone number with a Dutch country code). Surely we can’t count a couple of vague paragraphs on the About page, where the firm claims to provide access to financial markets and that its employees are happy to share their knowledge with clients, as substantial details.
- Even the registration and login buttons on the pages don’t work. Has this been the case since the platform’s launch? Either way, it reflects poorly on the broker. It could either indicate a lack of technical expertise or deliberate limitations on functionality, forcing new users to go through customer support.
- The documents governing the relationship between the broker and its clients are also far from perfect. For instance, in the Privacy Policy, users are instructed to send emails to [email protected]. We can’t help but feel that this email belongs to another broker and that the owners of this project simply forgot to change it.
All in all, it looks as though the company rushed to launch its website and is tweaking it “on the go.” This doesn’t reflect well on the broker. However, for scam platforms, this is pretty standard. Unlike legitimate licensed brokers, they don’t place much value on their online presence.
Our Trading Experience With ToroHive
The broker barely mentions its trading terminal on the official website, and we weren’t able to explore it further either. Without creating an account (and as we’ve already mentioned, doing this independently is impossible), users have no access to either the personal cabinet or the trading platform. Thus, we couldn’t evaluate the software’s interface or functionality.
Perhaps things will change once customer support responds to our inquiry. For now, however, our request remains unanswered.
That said, we were able to evaluate the trading conditions offered by the company. The platform provides traders with five account plans:
- Basic.
- Silver.
- Gold.
- Platinum.
- VIP.
The account descriptions on the ToroHive site are rather vague. After reviewing them, it becomes clear that the accounts differ only in:
- Minimum deposits, ranging from $250 for Basic to $250,000 for VIP.
- Leverage, starting at 1:30 for Basic and going up to 1:400 for VIP.
- Spread sizes, which decrease incrementally from 3 pips to 0.6 pips.
Apparently, the company believes traders only need to know how much money to deposit onto the platform — the rest can be figured out as they watch their balance drain.
Of course, the account descriptions also list other features, from basic platform tutorials and crypto wallet access for Basic account holders to advanced tool training and exclusive webinar invitations for VIP clients. However, these are merely examples of clever marketing aimed at beginners. In reality, ToroHive clients are unlikely to receive more than a couple of emails containing useless information.
For wealthy traders, the company has devised three additional exclusive accounts, which allow trading with leverage of up to 1:500 and spreads starting at 0 pips. More detailed information about these accounts — Capital Management, Wealth Management, and Millionaire’s Club — is supposedly provided by personal managers.
From what we see, the broker follows the standard methodology of all scammers: the more money a client has, the harder they should work to lose it. It’s no coincidence that leverage increases alongside deposit size.
The Reality Check
ToroHive does not mention its registration or licensing status anywhere on its official website. The only clue about its location is found on the Contact page, where a Bangladeshi office address is provided. It’s an unusual choice of location, but one where a business registry exists and can be easily searched.
Whether this company has any legitimacy remains doubtful, as the evidence overwhelmingly points to the opposite.
Our search in the registry of the local regulator, SVGFSA, also proved unsuccessful. This means the company is not registered in this jurisdiction either. For thoroughness, we also checked the Dutch registry (given the support phone number with a Netherlands code). However, this search also yielded no results.
The conclusion is obvious, isn’t it? The broker operates without official registration, exists exclusively online, and offers only virtual services. Doesn’t this description fit perfectly with a “reliable partner”?
Important Note! Traders must understand that a company without official registration cannot open corporate accounts and cards in banks or issue bank cards to third parties. Therefore, the debit card promised by the pseudo-broker is nothing more than a marketing ploy that appeals to those seeking free perks. Clients of this fake firm will never receive any physical cards.
Naturally, a virtual company does not possess a single license. It cannot obtain one because registration is a prerequisite, and even offshore regulators do not issue permits without it. Thus, we can confidently state that the broker operates illegally and is nothing more than a scam.
How Long Has ToroHive Been in the Game?
It’s no surprise that the broker’s official website lacks any mention of its inception date or other details about the company’s history. However, determining the platform’s online presence is not an issue — Whois provides information about the domain registration date.
The working domain, torohive.com, was registered back in January 2024. It’s possible the broker was established around the same time. However, snapshots from the Web Archive reveal that the platform did not become active until at least the second half of July 2024. Before this, the website we are reviewing today did not exist.
So, the platform has been online for about five months. In our opinion, this is sufficient time to address all issues on the site. However, it seems the project creators have a different view — they see no point in spending extra resources on a web presence they don’t actually value.
By the way, the blog entries are dated February 2024, even though the site hadn’t launched yet. The lack of new posts further confirms our suspicions about the owners’ attitude toward the company’s online “face.”
Extra Fraud Indicators
Finally, we analyzed ToroHive reviews across the web. The results were predictable — the company has received only scattered mentions so far. This supports our assumption that the broker is new, hasn’t attracted much attention from traders, and is likely still behaving decently toward clients’ funds (if it has managed to attract any).
Nonetheless, experts from a few investment and trading-themed platforms have already flagged this pseudo-company. Their reviews provide detailed analyses of its features and operations. Unsurprisingly, their conclusions are unequivocal: this project was created by scammers, the risk of fraud is extremely high, and users should refrain from depositing funds into accounts on this platform. We can only echo these sentiments.
Is ToroHive the Right Fit?
We believe this ToroHive review is thorough and objective. We’ve clearly demonstrated why trusting this broker is not advisable. The arguments are compelling. The broker operates without registration or licensing. It makes unattainable promises (such as issuing debit cards). It conceals critical information about itself and its operations. It hasn’t even bothered to fix simple issues, like the broken registration and login forms. These practices are classic indicators of a scam, meaning traders who send money to this company are unlikely to ever see it again. We sincerely hope our review prevents potential clients from making hasty decisions, allowing them to avoid becoming yet another victim of fraud and preserving their funds.
I made the mistake of dealing with ToroHive back in September, and these scammers stole $12,000 from me! Their minimum deposit is carefully designed. You’ll start with it, and they’ll help you earn a small profit. Then completely different ‘specialists,’ professional psychologists, will call you and persuade you to invest as much as possible. After that, it’s the same old story: you either lose your entire deposit on bad trades, or if you try to withdraw funds, they’ll just block your account. There’s no chance of getting your money back. Please protect your time and money! Don’t trust these scammers!