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Contract reading

What TradingMoon legally published, but does not want you to read

Every clause below is published by TradingMoon itself, on its own website, today. The finding is not that the text exists. It is the distance between what a client is shown and what a client agreed to. Read from its own documents on .

Contracting entity: Trading Moon

sole discretionwithdrawalshidden feebonus lockdeemed acceptancekyc freezemarketing claimdispute windownegative balance protectionprofit voiding

Trading Moon advertises 1000:1 leverage in Bulgarian while its own risk notice fixes retail leverage at 30:1. Withdraw money you have not traded and it can keep 5% of it. You get two business days to complain about anything. All three bonus documents ask you to waive going to court, and clause 31.3 turns the cash you post as margin into the firm's own money.

Back to TradingMoon

Contract risk

Money at risk
8.0/10

Where this contract sitsHow far this contract goes, overall. Under 2 is nothing beyond the ordinary; 6 to 9 means several clauses put money you have already earned at risk; 9 and above reads as designed to make payout refusable.

0510
CriticalClauses that can cost you money you have already earned or deposited, or that remove your ability to challenge it.
9
FlaggedEvery clause worth knowing about, at all three severities. Ordinary terms that every broker has are not counted.
20
DocumentsHow many of the broker's own legal files this reading is based on. Each one was downloaded and hashed on the date shown.
10
ContradictionsPlaces where a promise the broker makes in public is not kept by the clause that governs it.
8

How the 20 break downThe same flagged clauses, split by how much each one can cost you. Severity is our reading of the clause, not the broker's label.

Critical9
Warning10
Notice1

The numbers in this contractFigures taken from this broker's own clauses, so the labels differ from broker to broker. The four in the panel above are the same on every report.

4 of these 4 figures come from a clause we rate critical, which means it can take your money or your profit rather than only delay it.

Critical2 working daysTime to complain. Jump to the clause this comes from.Two business days to raise a problemCritical1000In the contract. Jump to the clause this comes from.Leverage sold at 1000:1, capped at 30:1 in the risk noticeCritical5%Fee you were not shown. Jump to the clause this comes from.5% fee to withdraw money you did not tradeCritical90 daysBonus requirement. Jump to the clause this comes from.Welcome bonus expires at 90 days and pulls back on withdrawal

What the documents say

20 clauses worth knowing about, worst first, each quoted from TradingMoon's own files

01

You get two business days to tell Trading Moon about a problem with a deposit, a withdrawal, a trade or a fee. Clause 2.1 starts that clock on the day the event happened, not the day you noticed it.

In plain words

A manifest error means an obvious mistake by the broker.

Why this matters

Report it on day three and you are outside the procedure Trading Moon wrote for itself. Clause 28.1 of the agreement is blunter: your trade confirmations become conclusive and binding unless you object within 14 business days.

Exhibit 1CriticalRarely seen2 working days

If you have any questions regarding your Trading Moon experience, including but not limited to deposits, withdrawals, trading, or fees and charges, you shall inform us as soon as you become aware of such issues and in any event within two (2) Business Days of the event giving rise to the issue.
Clause 2.1 in Complaint Handling Policy
Read from the broker's site on Archived copyOpen the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must handle a retail complaint made months after the event, and must point that client to an independent ombudsman. This policy gives you two business days to report the issue, and the only escalation it names is the FSA that licenses Trading Moon.

TradingMoon is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingMost retail agreements measure a complaint window in months. Two business days is short enough that a client who checks a statement weekly is out of time before they look.

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
Within 2 business daysYou must tell Trading Moon about the issue, counted from the event itself.2.1
After 5 business daysIf support has not resolved it, you ask them for the complaint form and file formally.2.2
Within 2 business days of filingTrading Moon sends an acknowledgment and a complaint reference number.3.2
Up to 21 business daysCompliance aims to answer within 7 business days and no later than 21.3.3
After the final answerYou can escalate to the FSA in Seychelles.4.1
  • Worse together with Exhibit 5The window shuts in two business days, and the bonus documents then ask you to give up court recourse entirely.
02

Trading Moon's Bulgarian pages advertise maximum leverage of 1000:1 on major currency pairs and major indices. Its own risk warning notice says the leverage used by retail clients has been fixed at 30:1.

Why this matters

Leverage decides how little of a position your own money has to cover. These two documents differ by more than thirty times, so you cannot tell from them what your first trade will actually require.

Exhibit 2CriticalRarely seen1000

The leverage used by retail Clients has been fixed at 30:1, which may vary depending on financial products.
Clause 5.1 in Risk Warning Statement
Read from the broker's site on Open the reference

What it costsAt 1000:1 a $100 deposit supports a $100,000 position, and a move of 0.1% against you is the whole $100. At 30:1 the same $100 supports $3,000.

Set against a regulated standard: ESMA (EU), FCA (UK), CySEC (Cyprus)

Firms under ESMA rules, including those licensed by the FCA and CySEC, may not offer a retail client more than 30:1 on major currency pairs. Trading Moon's risk notice states that same 30:1 figure. Its Bulgarian leverage page shows 1000:1.

TradingMoon is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingA firm's own risk disclosure naming a retail cap of 30:1 while its pricing pages show 1000:1 is a gap inside one document set, not a difference between brokers.

03

Pay money in, change your mind and take it back untraded, and Trading Moon can keep 5% of it. Clause 6.2 calls this the Non-Trading Fee, and lets the firm change it at any time.

Why this matters

Trying the account and walking away costs you $50 on every $1,000. The charge sits in the deposit and withdrawal policy, a separate file from the page that tells you what trading costs.

Exhibit 3CriticalHarder than usual5%

If you place a withdrawal without any prior trading activity, we reserve the right to charge you five percent (5%) of the total withdrawal amount (the "Non-Trading Fee"). Should you place any trade before the withdrawal request is confirmed, we will make every possible effort to not charge your Account with the Non-Trading Fee.
Clause 6.2 in Deposit & Withdrawal Policy
Read from the broker's site on Open the reference

What it costsA $1,000 deposit withdrawn without a single trade returns $950. The $50 comes off money that never moved.

Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must disclose all costs and charges to a retail client before they trade, including the cost of getting out. This one appears only in the deposit and withdrawal policy.

TradingMoon is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

  • Worse together with Exhibit 11One fee punishes leaving without trading and the other punishes leaving twice in a day, so a small exit can cost more than it delivers.
04

Cash you post as margin passes to Trading Moon by outright transfer of title, and clause 31.3 says you keep no interest in it. What you hold instead is the firm's promise to repay you.

Why this matters

Money held as yours can be traced and handed back if a firm fails. A repayment promise is a claim in the queue, not money set aside in your name.

Exhibit 4CriticalRarely seen

Cash Margin is paid to us as an outright transfer of title and you will not retain any interest in it. Cash Margin received by us will be recorded by us as a cash repayment obligation owed by us to you.
Clause 31.3 in Client Agreement: Business Terms & Conditions
Downloaded from the broker's site on Archived copyOpen the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus), ESMA (EU)

Firms under FCA and ESMA rules may not take title transfer collateral from a retail client, and must hold client money in trust. This agreement describes accounts held in trust at clause 5.50, then takes outright title to cash margin at clause 31.3.

TradingMoon is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Our readingTitle transfer collateral is a wholesale device used between institutions. Pointed at a retail balance it converts your money into a debt the firm owes you, while clause 5.50 of the same agreement describes segregated accounts held in trust for clients.

05

Take the welcome bonus, the cashback or a referral reward and you agree to give up your right to litigate. All three promotion documents exclude any recourse to a judicial procedure over the promotion.

Why this matters

A dispute about a bonus, a rebate or a reward is one you have agreed not to put in front of a judge. The same documents also give the courts of Victoria, Mahe exclusive jurisdiction, so two clauses in one file cannot both be true.

Exhibit 5CriticalRarely seen3

To the extent permitted by law, your rights to litigate, to seek injunctive relief or to any other recourse to judicial or any other procedure in case of disputes or claims resulting from or in connection with this Offer are hereby excluded, and you expressly waive any and all such rights.
Clause 5.8 in Welcome Bonus Terms & Conditions
Read from the broker's site on Open the reference

Our readingA retail clause that removes court recourse altogether, rather than sending a dispute to arbitration or to a named forum, leaves no decision maker in place at all.

  • Worse together with Exhibit 1Two business days to raise it internally, and no court to raise it in afterwards.
06

Withdrawing while you hold open positions can be treated as abuse of negative balance protection. Clause 18.2.4 gives that as an example, and clause 18.2.3 then lets Trading Moon close your accounts and recover any losses it says it incurred.

In plain words

Negative balance protection is a limit that stops you owing more than you put in. Without it, one fast market move can leave you owing the broker money on top of your deposit.

Why this matters

The withdrawal policy tells you to check your margin before you withdraw, which is the same act clause 18.2.4 holds up as abuse. Hedging your own positions across your own accounts is on that list too.

Exhibit 6CriticalRarely seen

For instance, a Client hedging his/her exposure utilising his/her accounts under the same or different Client profile would constitute an abuse of the Negative Balance Protection
Clause 18.2.4 in Client Agreement: Business Terms & Conditions
Downloaded from the broker's site on Archived copyOpen the reference

Our readingHedging between your own accounts and taking money out while positions are open are ordinary risk decisions. Naming them as abuse of a loss protection turns that protection into a condition the firm can lift.

  • Worse together with Exhibit 17The protection you can lose this way is the one the documents already disagree about.
  • Worse together with Exhibit 8One clause makes the request itself suspect and the other lets the firm hold the payout while it decides.

Asking for your money is an act the contract can call abuse

Clause 18.2.4 of the Trading Moon agreement gives a withdrawal made while you hold open positions as an example of abusing negative balance protection. Clause 24.3 lets the firm withhold or refuse a withdrawal on reasonable suspicion alone, with no deadline for clearing it. The withdrawal policy itself promises payment on the same or the next business day.

Exit conditions1 clause flagged

Trading Moon can withhold or refuse your withdrawals, reverse transactions and cancel bonuses when it reasonably suspects abusive conduct, under clause 24.3. Clause 24.2 stretches that to coordinated activity with affiliates, partners or other clients.

Why this matters

Suspicion is enough to stop your payout, and the clause sets no deadline for clearing it. The limit written in is that the firm acts only as far as the law allows.

Exhibit 8CriticalHarder than usual

Where the Company reasonably suspects or determines that the client has engaged in any conduct described in this Section, the Company may, at its sole discretion, suspend or restrict the Account, reject or reverse transactions, cancel bonuses or promotional benefits, withhold or refuse withdrawals to the extent permitted by applicable law, terminate this Agreement, and take any other action necessary to protect its legitimate interests or comply with legal or regulatory obligations.
Clause 24.3 in Client Agreement: Business Terms & Conditions
Downloaded from the broker's site on Archived copyOpen the reference
  • Worse together with Exhibit 6Requesting the money can be the suspicious act, and this clause is what holds it.

Profits can be retrieved for abuse of liquidity at any time

Clause 18.1.2 lets Trading Moon retrieve historic trading profits gained through what it calls abuse of liquidity, at any time during the client relationship. It can revoke trades at its sole discretion with no prior notice. The one limit written in is that the firm must be able to document the abuse.

Profit clawback1 clause flagged

Trading Moon can reach into your account for profits it says came from abuse of liquidity, going back over the whole time you have been a client. Clause 18.1.2 also lets it revoke trades at its sole discretion with no notice.

Why this matters

Profit you made months ago is still in reach if the firm later calls your trading latency arbitrage. It has to be able to document the abuse, which is the single limit the clause puts on itself.

Exhibit 7CriticalHarder than usual

any transactions or contracts that rely on price latency arbitrage opportunities may be revoked, at our sole discretion and without prior notice being required
Clause 18.1.2 in Client Agreement: Business Terms & Conditions
Downloaded from the broker's site on Archived copyOpen the reference

The $30 welcome bonus is credit, not money

Trading Moon's welcome bonus is 30 USD of credit you cannot withdraw, and clause 4.5 removes it after 90 days. Withdrawing your own deposit or profits pulls a matching part of the credit back out of the account. If your positions stop out when the credit goes, clause 5.5 accepts no liability for the loss.

Bonus lock1 clause flagged

The $30 welcome bonus lasts 90 days and Trading Moon then removes it. Take out your deposit or your profits first, and clause 5.3 takes a matching slice of the credit back out of your account.

Why this matters

Pulling the credit can push your open positions to a stop out, and clause 5.5 says Trading Moon accepts no liability for what that costs you. The promotions page offers the bonus to trade with for as long as you wish.

Exhibit 9CriticalHarder than usual90 days

The Bonus will be available to trade with for 90 days following the credit of such Bonus in your real money trading account. If the Bonus is not used within the timeframe specified above, it will be removed from your trading account.
Clause 4.5 in Welcome Bonus Terms & Conditions
Read from the broker's site on Open the reference

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
On requestYou have to ask support for the bonus, and Trading Moon credits it in three to five business days.4.3
Day 90Trading Moon removes the bonus if you have not used it.4.5
On any withdrawalA matching part of the credit leaves your account when you withdraw your deposit or profits.5.3
After removalPositions can stop out, and Trading Moon accepts no liability for that loss.5.5
  • Worse together with Exhibit 5The same document that can stop out your positions also asks you to waive taking the argument to court.

The Bulgarian pages promise what the English contract takes back

Trading Moon advertises 1000:1 leverage on its Bulgarian pages while its risk notice fixes retail leverage at 30:1. The same pages promise no hidden fees, funds in separate bank accounts, unlimited referral rewards and a bonus to trade with for as long as you wish. Clause 2.2 settles which version wins: the English one.

Language arbitrage2 clauses flagged

The risk notice says you cannot lose more than your initial investment, because Trading Moon runs negative balance protection. The banner on every Bulgarian page says losses may exceed your initial investment.

Why this matters

Negative balance protection is the one thing standing between a bad night and a debt. The same notice that promises it also says you must be able to take losses well beyond your deposit.

Exhibit 17WarningHarder than usual

However the Company operates on a 'Negative Balance Protection' basis, this means that you cannot lose more than your initial investment.
Clause 4.1 in Risk Warning Statement
Read from the broker's site on Open the reference

The promotions page offers unlimited cash rewards for referring friends. Clause 4.3 of the referral terms holds anything above 1000 USD in a calendar month and pays it the following month.

Why this matters

Refer well in a good month and the money arrives in instalments you do not control. The tiers also pay 10 USD a referral until you pass 25 of them, not the 20 USD of the top tier.

Exhibit 18WarningHarder than usual$1000

You can invite an unlimited number of friends. If the Rewards exceeds 1000 USD per calendar month, You will receive the exceeding amount on the next calendar month.
Clause 4.3 in Refer a Friend Terms & Conditions
Read from the broker's site on Open the reference

The charges that cost you most are in the file nobody opens

A 5% charge applies when you withdraw money you never traded, under clause 6.2 of Trading Moon's deposit and withdrawal policy. Another 3% can be charged if the firm decides you tried to exploit a payment method. Bank wires cost 15 or 25 EUR or USD every time, and a second withdrawal in one day costs 5% more.

Cost disclosure2 clauses flagged

Trading Moon can charge up to 3% to your account if it detects any attempt to exploit payment methods. Clause 4.3 lists fraud and deception, then ends the list with etc.

Why this matters

The clause never says 3% of what, and never says who reviews the decision. You find out when the money has left your balance.

Exhibit 10WarningHarder than usual3%

If we detect any attempt to exploit payment methods, including but not limited to fraud, deception, willful misconduct, etc., we reserve the right to charge a fee of up to 3% to the Client's account.
Clause 4.3 in Deposit & Withdrawal Policy
Read from the broker's site on Open the reference

You get one withdrawal a day at no charge, except by bank wire. Clause 6.6 lets Trading Moon charge 5% of every extra withdrawal you ask for the same day.

Why this matters

Bank wires are charged whatever you do: 15 EUR or USD on a SEPA transfer, 25 EUR or USD on a SWIFT one. The policy then sets $15 as the least you can take out by wire once those come off.

Exhibit 11WarningHarder than usual$25

You may place one (1) withdrawal on your Account per day without any charges for any payment method except bank wire transfers. Should you decide to place more than one (1) withdrawal per day, we reserve the right to charge you a fee of five percent (5%) of each subsequent withdrawal amount.
Clause 6.6 in Deposit & Withdrawal Policy
Read from the broker's site on Open the reference

What it costsA $40 withdrawal by SWIFT transfer arrives as $15 after the $25 charge. That $15 is the floor the policy allows for a wire.

The terms change when posted and your next login is the signature

Clause 1.6 makes an amended Trading Moon agreement effective the moment it is posted, with your continued use counting as consent. One client account per person is the limit, and a second one under another email has its trades closed without notice. Checking for changes is left to you.

Account control2 clauses flagged

Trading Moon can change any part of the agreement at any time. Clause 1.6 makes the new version effective once it is posted, and treats your continued use of the platform as agreement to it.

Why this matters

Checking the agreement for changes is your job under clause 1.6, with no email you can rely on. The clause cannot even count its own notice period: it says amended terms are effective five once they are posted.

Exhibit 12WarningHarder than usual

All amended Terms shall be effective five once they are posted in our website, or as of the first time that you access and/or use our online trading platform after such amendments were made, whichever is sooner. Your continued use of our online trading platform after the publication of any Changes shall be considered as your agreement to such modified Terms and shall be governed by those Terms, as modified.
Clause 1.6 in Client Agreement: Business Terms & Conditions
Downloaded from the broker's site on Archived copyOpen the reference

You are allowed one client account. Open another under a different email address and clause 11.4 lets Trading Moon close the trades and send the deposit back where it came from, with no notice to you.

Why this matters

Clause 7.3 returns your deposit including any profits when verification fails. Clause 11.4 mentions only the deposit, so it does not say what happens to money you made.

Exhibit 15WarningHarder than usual1

You agree, we will without prior notice given to you take such action to protect our own position by closing trades on the one (1) Account and immediately return funds (deposit) to your source funding.
Clause 11.4 in Client Agreement: Business Terms & Conditions
Downloaded from the broker's site on Archived copyOpen the reference

30 business days to verify, and criminal records on the list

Trading Moon gives you 30 business days from your first deposit to send verification documents, under clause 7.3. Miss it and the firm can block the platform and end the relationship, with you paying the charges to send your own money back. Its privacy policy lists criminal records among the data it may collect and keeps that data beyond seven years.

Verification and data2 clauses flagged

You can pay in up to EUR 2,000 before verifying. Clause 7.3 gives you 30 business days to send documents, after which Trading Moon can block the platform and end the relationship.

Why this matters

The deposit comes back with your profits under clause 7.3, which is better than most brokers offer. You pay the transfer and bank charges for that return under clause 7.6.

Exhibit 13WarningStandard wording30 working days

we shall require you to provide personal identifiable information and documentation within thirty (30) Business Days from initial deposit at the latest in order to complete the registration process.
Clause 7.2 in Client Agreement: Business Terms & Conditions
Downloaded from the broker's site on Archived copyOpen the reference

What happens, and when

The stages this clause runs through, taken from the broker's own document
TriggerWhat the broker may then doClause
First depositYou can pay in up to EUR 2,000 before verification.7.3
Within 30 business daysSend identification documents, counted from the first deposit.7.2
After 30 business daysTrading Moon can block access, end the relationship and return the deposit with profits, less losses.7.3
On returnYou pay the transfer and bank charges.7.6

The privacy policy lists criminal records among the identification data Trading Moon may collect. It shares personal data with introducing brokers and affiliates, and can keep it for longer than seven years after you leave.

Why this matters

The marketing consent in section 5.3 arrives already ticked, and it covers calls, emails and text messages. The introducing brokers and affiliates who receive your file are not named.

Exhibit 14WarningHarder than usual

Last names, names and addresses, passport or ID cards images, job title, mobile number, email address, birth date, criminal records, IP address, etc.
Clause 2.1 in Privacy Policy
Downloaded from the broker's site on Open the reference

Trading Moon takes title to your margin and prices your trades

Clause 31.3 passes your cash margin to Trading Moon by outright transfer of title, leaving you with a repayment claim instead of money in your name. The definitions call the firm your agent while clause 30.1 has it acting as sole counterparty. No conflicts of interest policy is published, and neither is the order execution policy the contract incorporates.

In plain words

On a principal basis, as your counterparty, means the broker takes the other side of your trade itself. Your loss is then the firm’s gain, so it has an interest in how your trade ends.

Whose side1 clause flagged

The definitions call Trading Moon an agent to your transactions. Clause 27.5 has it quoting the prices it is prepared to trade with you at, and clause 30.1 has it acting as sole counterparty.

Why this matters

When the firm is on the other side of your trade, your loss is its gain. Its own quotes are the reference price, and clause 5.44 lets it change how often they update at its sole discretion.

Exhibit 16WarningHarder than usual

"Execution" means the execution of Clients' orders on our trading platform, where the Company acts as an Agent to Clients' transactions.
Clause 5.23 in Client Agreement: Business Terms & Conditions
Downloaded from the broker's site on Archived copyOpen the reference
Set against a regulated standard: FCA (UK), CySEC (Cyprus)

Firms licensed by the FCA or CySEC must publish a conflicts of interest policy and tell a retail client when they deal as principal against them. Trading Moon publishes no conflicts policy, and no order execution policy either, though clause 26.3 makes that policy part of this contract.

TradingMoon is not licensed by these regulators, so this is a comparison of practice, not a finding of any breach.

Trading Moon and TM Trading Limited are not the same name

Your contract is with Trading Moon, a Seychelles company numbered 8425574-1, under FSA licence SD042. The website footer calls TradingMoon the trade name of TM Trading Limited, which appears in none of the ten documents. Four documents the agreement makes binding are not published at all, and no compensation scheme is named anywhere.

Who you contract with2 clauses flagged

Four documents this agreement makes binding are missing from the legal page, which lists nine files. Clause 26.3 makes the Order Execution Policy part of the contract, and clauses 6.8, 36.2 and 32.1 point you to copy trading terms, swap-free terms and a fee schedule.

Why this matters

How your orders are filled and what your trades cost are both set in documents you cannot read. Clause 32.1 records that you have read and accepted the fee schedule anyway.

Exhibit 20WarningHarder than usual4

Our Order Execution Policy is part of these Terms and Conditions and is incorporated herein by reference
Clause 26.3 in Client Agreement: Business Terms & Conditions
Downloaded from the broker's site on Archived copyOpen the reference

Your contract is with Trading Moon, a Seychelles company numbered 8425574-1. The website footer calls TradingMoon the trade name of TM Trading Limited, a name that appears in none of the ten documents.

Why this matters

You need the right name to bring a claim or to check a licence. Both versions point at FSA licence SD042, and no document in the set names a compensation scheme.

Exhibit 19NoticeHarder than usual

Trading Moon is a company incorporated in Seychelles with company number 8425574-1 with registered office at F2-2A, Oceanic House, Providence Estate, Victoria, Mahe, Seychelles, fully licensed and regulated by the Financial Services Authority (FSA) under license No. SD042.
Quoted in Client Agreement: Business Terms & Conditions
Downloaded from the broker's site on Archived copyOpen the reference
Our own capture of tradingmoon.com, taken on Sep 8, 2026The claim, on Bulgarian about us page, site footerVisit this page on the broker's siteDownload the full size image file

Where the marketing and the contract disagree

A promise made in public, set against the clause that governs it

01

The Bulgarian pricing table offers more than thirty times the retail leverage the risk notice says is fixed.

Said in public, in BG

Основни FX 1000:1**

Word for word in English: Primary FX 1000:1**

Bulgarian leverage information page, first row of the maximum leverage table

In the contract · clause 5.1

The leverage used by retail Clients has been fixed at 30:1, which may vary depending on financial products.

02

No hidden fees on the about us page, and a 5% charge on untraded money in the withdrawal policy.

Said in public, in BG

Нашата платформа предлага свобода на търговия без скрити такси или бариери, обслужвайки както нови, така и опитни инвеститори.

Word for word in English: Our platform offers freedom of trading without hidden fees or barriers, serving both new and experienced investors.

Bulgarian about us page, opening section

In the contract · clause 6.2

If you place a withdrawal without any prior trading activity, we reserve the right to charge you five percent (5%) of the total withdrawal amount (the "Non-Trading Fee").

03

Funds in separate accounts on the marketing page, and no interest retained in your margin under the agreement.

Said in public, in BG

Вашите средства се съхраняват в отделни банкови сметки, а данните ви са защитени съгласно строги регулаторни стандарти.

Word for word in English: Your funds are held in separate bank accounts, and your data is protected under strict regulatory standards.

Bulgarian about us page, panel headed Регулирана и сигурна (Regulated and secure)

In the contract · clause 31.3

Cash Margin is paid to us as an outright transfer of title and you will not retain any interest in it.

04

The site warns that losses can exceed your deposit while the risk notice says they cannot.

Said in public, in BG

Загубите могат да надхвърлят първоначалната ви инвестиция.

Word for word in English: Losses may exceed your initial investment.

Bulgarian risk banner at the top of every page

In the contract · clause 4.1

However the Company operates on a 'Negative Balance Protection' basis, this means that you cannot lose more than your initial investment.

05

Automatic on deposit in the advert, and a request to support plus three to five business days in the terms.

Said in public, in BG

Получете автоматично вашия бонус от $30 в потвърдената си търговска сметка веднага щом направите депозит.

Word for word in English: Receive your $30 bonus automatically in your verified trading account as soon as you make a deposit.

Bulgarian promotions page, welcome bonus card

In the contract · clause 4.3

In order to claim the Bonus, you shall notify customer support. Provided that the Requirements are met, we shall credit your real money trading account with the Bonus within three to five business days or as soon as reasonably possible.

06

For as long as you wish on the promotions page, 90 days in the bonus terms.

Said in public, in BG

Всичко, което трябва да направите, е да направите депозит чрез някой от нашите многобройни методи за депозит и да търгувате с бонуса за добре дошли толкова дълго, колкото желаете!

Word for word in English: All you need to do is make a deposit through one of our numerous deposit methods and trade with the welcome bonus for as long as you wish!

Bulgarian promotions page, welcome bonus explainer

In the contract · clause 4.5

The Bonus will be available to trade with for 90 days following the credit of such Bonus in your real money trading account. If the Bonus is not used within the timeframe specified above, it will be removed from your trading account.

07

Unlimited rewards in the advert, and 1000 USD a month with the rest deferred in the terms.

Said in public, in BG

Поканете приятели да търгуват и спечелете неограничени парични награди.

Word for word in English: Invite friends to trade and earn unlimited cash rewards.

Bulgarian promotions page, refer a friend card

In the contract · clause 4.3

If the Rewards exceeds 1000 USD per calendar month, You will receive the exceeding amount on the next calendar month.

08

The website names TM Trading Limited as the licensed company, and every document names Trading Moon instead.

Said in public, in BG

TradingMoon е търговското наименование на TM Trading Limited, което е упълномощено и регулирано от Органа за финансови услуги на Сейшелите (FSA) под лиценз № SD042.

Word for word in English: TradingMoon is the trade name of TM Trading Limited, which is authorised and regulated by the Financial Services Authority of Seychelles (FSA) under licence No. SD042.

Bulgarian about us page, site footer

We took a picture of this page. It is shown once, with the finding it belongs to. See our capture of tradingmoon.com

In the contract

Trading Moon is a company incorporated in Seychelles with company number 8425574-1 with registered office at F2-2A, Oceanic House, Providence Estate, Victoria, Mahe, Seychelles, fully licensed and regulated by the Financial Services Authority (FSA) under license No. SD042.

The documents this reading is based on

10 files, all published by TradingMoon. Each shows when we read it and a fingerprint of its wording.

WIKILIX keeps the copy of each file it read, and does not republish it: what is published is the fingerprint of its wording. Download the file yourself and hash its text, lowercased with runs of whitespace collapsed, and a matching fingerprint means the wording quoted above is still the wording TradingMoon publishes.

How this reading was done

Every clause above was read out of a document TradingMoon publishes itself

This reading was published on .

Documents
8 of 10downloaded from the broker's site, and 8 read in full
Pages opened
39pages walked to find those documents, footer links included
Older copies
2earlier versions downloaded, 2 identical to the copy we hold by fingerprint
Marketing pages
11public pages set against what the contract says
Languages
BG vs ENthe language it advertises in, against the language it contracts in

Who the contract is with

Trading Moon

You contract with Trading Moon, a company incorporated in Seychelles with company number 8425574-1, at F2-2A, Oceanic House, Providence Estate, Victoria, Mahe. Every document footer uses that name and no company suffix. The website footer calls TradingMoon the trade name of TM Trading Limited, a name that appears in none of the ten documents. Both point at FSA licence SD042. No document names a compensation scheme, and the only escalation the complaint policy offers is the FSA in Seychelles.

Quotations are copied verbatim from the documents named above, with the clause number and the page each one came from. Where a clause is quoted in another language, the original is shown first and the English is a translation.

The plain-language parts, what a clause means for a client, how ordinary it is, and how it reads against a regulated standard, are WIKILIX's analysis and are labelled as such on every card. This is a reading of public documents, not legal advice and not an allegation of wrongdoing.

In fairness, and what we could not check

A reader who knows the edges of the work can trust the middle of it

Withdrawals are promised for the same business day or the next, which is faster than most brokers put in writing. Negative balance protection appears in three separate documents, and clause 31.8 has Trading Moon top a negative balance back to zero. Nothing in the documents we read charges an inactivity or dormancy fee, and there is no dormancy policy for one to hide in. The withdrawal policy names the actual banking partner, Absa Group Limited, and gives day ranges for every method. The privacy policy commits to reporting a data breach to you within 72 hours. When verification fails, clause 7.3 returns your deposit including the profits you made.

The client agreement runs to 54 pages and we read it as far as the payment terms in section 37. Its clauses on inactivity, termination, set-off, governing law, limitation of liability and indemnity are not covered here. Parts of the middle were missing as well, between clauses 25 and 26, 26 and 27, and 32 and 34. The privacy policy stops part way through section 8, on your privacy rights, so we did not read its ending. We opened the legal documents page ourselves and it lists nine files. There is no order execution policy on it, no copy trading terms, no Islamic swap-free terms and no fee schedule. Earlier copies exist only for the welcome bonus terms and the complaint policy, and both match today's files exactly. For the other eight documents we have nothing older to compare against. Every marketing claim quoted here comes from a Bulgarian page we opened ourselves, and we did not check the site's other languages.

How to check any of this yourself

Every quote above links to the TradingMoon file it came from. This is what to do with it.

Open the three stepsFind the words in the source, work out the fingerprint, and read what a difference does and does not prove.

Open the source and search for the words

Every quote has a link under it. Open the file, or the web page, and search it for the words we quote. The clause number next to the quote tells you where to look.

If the words are not there any more, the source may have changed after we read it. That is worth knowing too. We keep the date we read it, and a code worked out from its wording, so the quote stays checkable.

What a fingerprint is

A fingerprint is a code worked out from what a source says. Change one word and the code changes completely. We keep two codes for every file we read, and the panel on each source shows both.

The first is the code of the exact file we downloaded. The second is the code of its wording alone, with capital letters lowered and runs of spaces collapsed. When the same words are saved as a new file, the first code changes and the second one stays the same.

Only the first code can be worked out on your own computer. Save the file, then run one of these, putting the name of the file you saved where the example is. The panel on each source prints the command with that source's real file name already in it.

macOS or Linux:
  shasum -a 256 the-file-you-saved.pdf

Windows:
  certutil -hashfile the-file-you-saved.pdf SHA256

The two codes are different from each other, and they are not meant to match. Comparing one against the other proves nothing.

What a difference means, and what it does not

A different file code on its own proves nothing. A PDF saved again with a new date inside it is a new file saying exactly the same thing.

A different wording code means the words themselves changed. That is the one that matters, and it is why we keep it.

Even then, a change is not proof of bad faith. Companies update their documents. What this report says is what the document said on the day we read it, and every quote carries that date.

A source that is a web page and not a file has no file to save, so only the code of its wording is shown.

How this report is made

Every clause quoted above comes from a document TradingMoon publishes on its own website, downloaded and hashed on the date shown, with the clause number and page recorded so any reader can check it. We do not allege anything the documents do not say, and we do not judge TradingMoon on anything other than its own published terms and its own public marketing. Where a clause has a qualifier that softens it, the report says so. Last read Sep 8, 2026.

If you represent TradingMoon and a clause has changed, been withdrawn, or is being read out of context, tell us and we will re-read the documents and update this page. Corrections from the broker are welcome and are published with the reading they change. Contact us.

This is a reading of a contract, not legal advice and not a ruling on TradingMoon. Whether its licence is real and current is a separate check on the broker profile.

Back to the TradingMoon profile