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Broker Reviews

GFC Investment Review

July 19, 2018 by Patrick Jones Leave a Comment

GFC Investment Review and Broker Scam Investigation

GFC Investment is an unlicensed Forex and CFD broker that opened its doors for business in 2018. GFCInvestment.com is owned, managed and operated by the GFC Investment group KINTEKA OU, an Estonian company situated at 5th Floor, office # 71 on 9th Joe St. Tallinn, Estonia and DARTALON LTD, a St. Vincent & Grenadines. An additional address can be found at Suite 305, Griffith Corporate Centre, 1510, Bechmont Kingstown, St. Vincent and the Grenadines. Their email is [email protected] and the listed phone number is UK+442039662002

GFC Investment Review
Investors at GFC Investment will have access to the new “Spot5” web-based CFD trading platform and interface, which offers its customers over 120 underlying assets to choose from. The software is very user-friendly and highly intuitive especially for new traders just starting out. Various options such as Stop Loss and Take profit are enabled and allow you to minimize your risk and leverage.

GFC Investment also allows Cryptocurrency trading with virtual currencies such as Bitcoin, Ethereum, Dash, Ripple, and Litecoin which are in the form of currency pairs contracts. The classic safe haven currencies such as USD/EUR, USD/GBP are also available as well as commodities, Indices, and Stocks. Most popular of these are Gold, Oil, S&P 500, and DAX. Additional features include “Simply Forex” which, as the name suggests is a simplified version of Forex designed for new or amateur traders just starting out and searching for an easy way to trade.

GFC Investment provides new paying customers with bonus cash incentives. However, there are strings attached and before you accept any type of bonus money please make sure to read the fine print in the terms and conditions section. In most cases you will be required to make a certain amount of trades in order to cash out, our initial investigation indicates a trading volume of 30 times the bonus amount received to your balance INCLUDING the deposited amount are stipulated in the terms section. The minimum trading amount for standard lots (buy/sell contracts) are $50 and the minimum deposit is $500 in order to start trading. However, traders registering via our recommended systems are able to deposit $250 and start trading after being phone verified.

We contacted the compliance desk at GFC Investment in order to inquire about a license or some type of certification but there was none. We know that not ALL unlicensed brokers are scam artists, however if you have the option of choosing it is always preferred as they use segregated accounts and required to operate in a more transparent manner or risk losing their license.

Specifically regarding GFC Investment, we noticed a lot of interest so we actually put them to the test and funded a real money trading account. After that we proceeded to cash out stating that we are not interested. We got our money back after 3 business days, so this disqualifies GFC Investment from being blacklisted.

Its also worth mentioning that we are a part of a large network of traders and this has its obvious advantages. Needless to say the same terms are reserved for our members as well.

If you are searching for a regulated Forex and CFD broker we invite you to check out our recommended broker section. If you are searching for a viable signals and solutions that produce results then we invite you to check out our robotic trading apps and signals. Don’t forget to join our Facebook Group , Google +, Pinterest, and YouTube Channel

Full Disclosure

 

Filed Under: Broker Reviews

Alvexo Review, Is Alvexo SCAM Broker?

February 22, 2018 by Patrick Jones Leave a Comment

Welcome to our official Alvexo Review and Broker Investigation
If you are searching the internet and asking yourself is Alvexo SCAM or legit then you have landed on the right page. Alvexo is owned and managed by VPR Safe Financial Group Limited in Cyprus. It is a Cyprus Investment Firm (CIF) which is supervised and regulated by the Cyprus Securities and Exchange Commission (CySEC). Their CIF registration and license number is 236/14 and company registration number HE 322134. Their address is 1, Agias Fylaxeos street,3025 Limassol, Cyprus

Most people like to trade on Alvexo using desktop version and mobile apps for both Android and iOS from here.

Alvexo is a fully regulated global investment brokerage specializing in providing trading arenas for the global financial markets with offices located at Limassol, Cyprus. Alvexo offers access to over 500 assets ranging from Currencies, Commodities, Future Indices, Stocks and Cryptocurrencies. Traders can access Alvexo’s vast range of products, support, education and news material in five languages; English, Arabic, French, German and Italian. The organisation adheres to CySEC (Cyprus Securities and Exchange Commission) regulation through VPR Safe Financial Group Limited.

Alvexo

Alvexo’s core distinguishing features are focus on customer education and the importance of knowledge acquisition as a critical factor l in developing and maintaining sound and reliable trading skills. As such, Alvexo is constantly engaged in tradining its clients the need to excel in trading via educational channels.

Alvexo traders have a choice of choosing between three different platforms: MT4: the trusted and world’s most popular platform. Sirix Web Trader: Alvexo’s official trader directly accessible with no download from the website. Mobile App: Trade from anywhere at any time on Android, iOS, Windows Mobile and tables.

There are four types of accounts available at Alvexo. These accounts offer various  terms with the margins mainly dictated by the type of account and the amount funded. Alvexo also supports a demo account where users can practice trading strategies as presented by the broker.

Is Alvexo SCAM or Not?
Alvexo is not a scam broker. Payouts are prompt, expeditious, and can be wired or sent to an E-wallet of your choosing. These are not crooks who will steal your money and have obtained licenses in the UK and the rest of Europe via the FCA and CySec.

VIP Levels

Classic: This is the most used account at Alvexo, although mostly by novice traders who are trying out for the first time the brokerage. The classic account operates under a minimum deposit of $250 with the smallest deal size set at 0.01 lots. The spread margins start at 3.3 pips. Traders of a classic account also enjoy leverage that maxes out at 300:1, free signals as well as a broad range of educational material is available.

Gold: While experienced traders are commonly associated with the gold account, others also express interest in higher payouts find it useful for their trading needs. An operating minimum of $2,500 is required to initiate a trade. The smallest deal size is set at 0.05 lots with spreads starting at 2.2 pips. Traders who use the gold account also benefit from Alvexo’s classic account features, while also getting an economic calendar.

ECN: This is primarily associated with direct trading and advanced users who find it necessary to achieve their trading objectives. An operating deposit of $5,000 is required to get you started with this account. The spread margins are set to start at 0.0 pips in addition to all benefits and features available from the gold account.

Prime: This is the premium account type at Alvexo and is mostly linked to semi-professional-to-professional traders who have the capability of depositing a minimum of $10,000 during their first trade. The minimum deal size is set at 0.25 lots with the spread margins starting at 1.8 pips. In addition to all features available from the gold and ECN accounts. Traders also gain access to technical analysis reports.

Alvexo Review

Alvexo’s state-of-the-art trading platform has allowed users to maximize the brokers trading methods to apply different trading strategies. Both beginners and expert users have the ability to optimize their return on investment through a training demo account and a list of beginner to advanced accounts that boast different tools and features.

There are weekly market reviews giving insights into market trends and financially relevant events, calculators, economic calendars and risk analysis tools that traders may use to achieve given trading objectives. The pip, margin and profit calculator have proven useful with the currency converter helping investors calculate the amount of money worth investing through a given account.

Trading signals are also a popular tool with traders that highly improves their trading potential by giving them additional trading ideas and trend indictors. Trading signals are used by those traders who would rather not spend time analyzing opportunities one by one and would rather get daily recommendations compiled by Alvexo’s market analysts.

Customer Support:
Customer service is both amiable and professional. They offer courteous service in French, German, Arabic, and Italian.

If you are interested in Forex or Crypto robots please make sure to check out our recommended section.

The Alvexo trading academy connects users with the broker by introducing educational videos among other trading courses before they embark on their first trade. A wide variety of topics are covered in the trading academy accommodating all levels of trading.

With an ever growing client base, Alvexo constantly integrates new technology and innovation to its user experience; recently attested by the launch of the Alvexo Trader platform. Filled with custom features to facilitate easy and fast trading at the click of a mouse. Resource-intensive improvements are added and updated on a regular basis to offer clients the best of what is available to the industry.

Alvexo Review Summary and Conclusions
The Alvexo SCAM-free brokerage offers a superior trading environment and is also fully regulated. Highly recommended. For additional updates and more scam reviews don’t forget to join our Facebook Page and YouTube channel.

Filed Under: Broker Reviews

IQ Option Review, IQ Option SCAM Broker Or Legit?

February 5, 2018 by Patrick Jones Leave a Comment

IQ Option Review and Investigation – Is IQ Option SCAM or Not?
IQ Option is a fully regulated binary options, Forex, CFD, and Cryptocurrency broker. Official records show that it owned and managed by Iqoption Europe ltd. Their listed address is Yiannis Nicolaides Business Center, Agiou Athanasiou Avenue 33, 4102, Agios Athanasios, Limassol, Cyprus. The advertised phone number is +44 20 8068 0760, and email address for customer service related questions is: [email protected].

Official Website, Login Page, and Members Area: https://eu.iqoption.com/en

Disclosure: We are NOT acting as affiliates in this genuine IQ Option review hence all information presented to you is factual and impartial.

Licencing (All Verified by Our Researchers):
CySec: License 247/14
Financial Conduct Authority (FCA) in the United Kingdom: 670182
ConSob Italy:  0008204/15
CNMV Spain: Registration Number 3867
BaFin Germany: 141907
Regafi France:  75119

Minimum Deposit: $10
Minimum Account Size: $10
Minimum Trade Amount: $1
Demo Account: Yes
Multi-Language Support: English, German, French, Spanish, Italian.

Accepted Payment and Deposit Methods: Paypal , Credit Cards, Skrill (Moneybookers), Webmoney.

Number of Assets: Over 500

Asset Types:  Currencies , Indices, Cryptocurrencies, Stocks, and Commodities

Mobile Trading:
Iq Option offers trading via iPhone, Tablets, i Mac, Android, IOS, and a variety of other smart phones such as Samsung or HTC.

Contract Expiry Times
Assets max expiration time is up to one day. When trading binary options the most popular with traders are short-term contracts like 60 seconds and turbo options  which vary from 30 seconds to 5 minutes depending on brokers. The minimum allowed expiration time is 5 minutes on binary and 1 on turbo. OTC trading is also available on IQ Option, which means if you have free time during the weekends and holidays you can use it to trade.

Max Return:
The advertised maximum return is up to 91%, but we highly doubt that and chances are you will lose your money. We will address this issue as we progress with our IQ Option Review.

IQ Option Review
IQ Option is a regulated binary options broker which was founded in Seychelles and later on received a license from CySec. IQ Option is widely considered to be “the broker of choice” for many affiliate websites and blog owners wanting to promote binary options and receive commissions for referring day traders and various opportunity seekers.

In fact, many review sites specifically target get-rich-quick schemes like the Bitcoin Code and advise traders to only use regulated brokers because that is safe and you won’t get ripped off. In theory this is correct, but what they fail to tell you is that when binary options are concerned the chances of someone actually generating profits and being able to withdraw money is virtually zero. That is why the staff and management here at Binary Scam Alerts will NEVER endorse any binary options broker regardless of their licence or jurisdiction.

In this context, with the exception of a few regulated exchanged all binary options brokers are SCAM as your loss translates into their gain. Hence there is an inherent conflict of interest, and IQ Option SCAM Broker is no exception. The fact that they are regulated does not mean the odds are stacked up in your favor. In fact, the exact opposite is the truth and if you know anything about binary options or had a problem cashing out because you accepted a bonus and were not aware there are trading requirements attached to it then you obviously understand what you are up against.

IQ Option Review: Aston Martin
We are not impressed with a sponsorship or branding. In fact quite the opposite is true! We could care less about what kind of sponsorship deals IQ Option makes, and to be quite honest it just makes us more suspicious. A truly honest broker just pays on time or before and solves problems quickly for its customers by offering superior customer service and being attentive to its customers needs.

IQ Option Complaints
We have received quite a few complaints about IQ Option, and most of them have to do with not being able to cash out and how the demo account is rigged and shows only wins but when investing money the trend reverses and you lose everything. Stall tactics such as invalid documents, and improper identification are constantly used to defer, deflect, and ultimately dissuade traders from cashing out their money.

Advertised Withdrawal Times
They claim 3-5 business days but in reality you would need to send a mountain of documentation in order for the compliance officer to approve the the withdrawal request. Here is actually when regulation is AGAINST you as they will say that it is required by the licensing authority to have all documentation presented in a clear and legible way. Personally, we find this type of behavior repulsive because this organization certainly knows how to take your money but when it comes to cashing out well then the bureaucracy and regulatory apparatus goes to work and everything has to be “by the book” all of the sudden.

IQ Option 60 Seconds Strategy
If you are a 60 seconds fan then IQ options will have a “senior account manager” contact you and start dispensing advise about what type of strategy is best. Momentum, Swing, Fundamental, Technical Analysis are all up for grabs and you can take your pick but there is only one place you are going and that’s the bottom of the barrel.

IQ Option Platform – Innovative Custom Charts Or Rigged Software?
Here is a screenshot of the IQ Option software. It is plain to see that in this scenario the customer is trading USD/CAD currency pairs in “Binary”. The expiration times on the right panel are clearly marked and they even have their own indicator panel which acts as a kind of signals software advising traders what is the trend. Some traders say the platform is very intuitive and user-friendly, but we found it to be cumbersome and difficult to maneuver in.
In reality, this is probably one of the most misleading graphical elements in the whole trading environment as people will act on this indicator and buy contracts (call or put) based on what they believe to be the trend. But when actually trading , the movements are not measurable and room for error is so big that most likely the traders will lose their money.

Is IQ Option SCAM?
The IQ Option SCAM does not operate in the usual or standard way we are accustomed to see. Of course all the licenses set it apart from the rest, however we are dealing with wolves in sheep’s clothing. Remember, these people are not your friends and will excessively use the fact that they are regulated in order to get you to drop your guard and deposit more funds. In reality, in most cases you will end up losing your money and think of how you reached this terrible financial situation again.

Does IQ Option Offer Cryptocurrencies Such As Bitcoin and Ethereum?
Yes they do offer Bitcoin Cash, Ripple, Monero, Dash, Zcash, and Litecoin. But again, trading cryptocurrencies with ANY binary options broker is like shooting yourself in the head.

IQ Option Bonus
Bonuses are no longer available with IQ Option as a part of the policies implemented by CySec. Usually when bonuses are issued there are trading requisites and that is when the complaints start, so we were informed that this is the reason bonuses are no longer available.

IQ Option VIP Club
If you want to be an IQ Option VIP you will need to fork up at least $3,000 as an initial investment. That will get you a “personal account manager”, “faster” cash outs, and a monthly analyst meeting. In reality, that meeting is designed to get you to spend more, and faster withdrawals are limited based on the terms and conditions which can be changed at any time.

IQ Option Signals
IQ Option does not advertise their signals, however they do allow 3rd party providers to offer them if it passes their compliance desk.

Terms and Conditions (The Fine Print)
Something that really got us angry is an inactivity fee of 50 Euros which is incurred and deducted automatically from your account if you don’t trade for 90 days. Other than that it’s the usual spiel.

Signals, Forex EAs, Crypto Robots, and Brokers
It’s not every day we endorse a broker or system, and when we do it means they passed our screening rigorous process. If you are searching for a solid alternative to IQ Option, then we have managed to find a few for you, just check out our recommended section.

IQ Option Review Summary and Conclusions – Blacklisted?
The IQ Option SCAM does not operate like the usual get-rich-quick scheme. In fact, it does not answer to the classic definition of the word SCAM, however certain scam tactics are definitely used in order to delay and defer withdrawals. Specifically annoying is the fact that IQ Option as well as other regulated brokers use their regulation as a proverbial fig leaf in order to veil their intentions. Ironically, an unregulated broker can be much more attentive to your needs as they value each and every customer and wish to be as polite and professional as possible in order to avoid being exposed as a SCAM broker on the internet. To sum up, IQ Option is NOT recommended because we do not recommend any binary options brokers regardless of their credentials. We could care less about their partnership with Aston Martin, and only lookout for the welfare and financial well-being of our members and viewers. Don’t for get to check out our Facebook page and subscribe to our YouTube Channel.

 

Filed Under: Broker Reviews Tagged With: IQ Option 60 Seconds, IQ Option Complaints, IQ Option Signals, IQ Option Withdrawals

Regulated Brokers Can Also Be Dishonest, Ava Trade as a Test Case

December 7, 2017 by Patrick Jones 4 Comments

Regulated brokers can also be dishonest! We are constantly getting complaints about various brokers which are TOTALLY regulated, but are not acting in good faith and will do anything in their power to slow down, delay, and get you to cancel your withdrawal requests. We have decided to review Ava Trade in this context, as it is regulated by ASIC, BVI Financial Services Committee, the Central Bank of Ireland, the South African Financial Services Board, and even in Japan. So, in reality Ava Trade is one of the most regulated brokers around (if not the most), but does that mean they operate in a fully transparent and honest way? At face value the answer is a resounding NO, and our staff of researchers have been able to produce initial proof of lies and deception. Now, does that mean Ava Trade is a SCAM broker? The short answer is also no, we are not going to pretend and say that if you have money coming your way it will not eventually be paid if you produce all the required documentation. However, we are saying that Ava Trade has been less than honest about producing testimonials about what people think or how much they have profited using their Brokerage services. It’s also worth pointing out that we are not acting as affiliates in this Ava Trade review and test case, hence there is no conflict of interest just clear and simple facts.

Update: Ava Trade has reached out and told us that they are using image bank photos due to client privacy issues. We are willing to accept that to a certain degree and due to their regulation and solid reputation we are willing to concede and agree that it is a mitigating factor.

The Official Ava Trade Website: http://www.avatrade.com/

But first, a bit of background. Ava Trade is a Forex and CFD broker. They also offer bonds, ETFs, and other financial products, but they are most known as a regulated Forex broker. We started digging in and seeing what Ava Trade was about because our members have asked us about regulated brokers and which one we recommend. The conclusions are not as you may think or wish to believe. In reality, even regulated brokers bend the rules in their favor and that is why we don’t necessarily recommend regulated brokers. We work differently as we will explain in a minute.

The point is, not every broker which is regulated is legit, and not every unregulated broker is a scam. As in most cases in life, the truth is always somewhere in the middle and that is why we ALWAYS choose the best systems with brokers we have a relationship with, but more importantly we have leverage in the form of a withdraw-able balance (significant amounts) which we can always use as a pressure tactic if one of our members is not paid promptly. So, in this context our motto is trust no broker (regardless of their legal status), and always have a good relationship with the decision makers as well as financial leverage.

Ava Trade – This is Not an Ava Trade Review!
Below you will find a screenshot of the Ava Trade home page and main sales area. It’s worth pointing out that Ava Trade  executes more than 2 million transactions per month which often surpasses $60 billion in volume. This makes it a monster, and it is also owned by Tedi Sagi who is the owner of Playtech (a gambling giant) and valued at over $2.8 Billion. Yes, he has made it to the Forbes list of richest men in the world.

Moving forward, our little team of researchers has manage to spot an interesting piece of information (which is also proof of possible scam). Ava Trade is using fake testimonials, and is doing it in the most flagrant and irresponsible manner. For example, Zoran from Serbia is a Shutterstock actor. Incredible right? Who would believe Ava Trade, one of the most regulated Forex brokers in the online trading industry would do such a thing? But the fact remains, so take a good look at the images below and let them serve you REAL well the next time you wish to invest. Again, we would like to re-emphasize the fact that we do not believe Ava Trade is a SCAM broker (quite the opposite is true), but these kinds of lies can only damage their reputation which is already getting slammed in certain forums and review sites.

In this area we had screenshots of fake reviews. We took it down because we can’t afford to engage in legal battles with a multi-million dollar Forex monster. The image can be found in our Facebook group for reference.

Here’s a little fact which is based on our experience. The word “regulation” acts as a kind of magic wand, when if waved can cause people to open up their wallets and start investing like MAD because it makes them feel safe or protected. In reality, regulation serves as a kind of proverbial fig leaf to veil the true intentions of the broker. In the end, they want to make money and need you to invest. Some will put up money to get a license, and others prefer not to but it doesn’t mean they are liars or dishonest. In fact, some of the best brokers we worked with had NO license, and we never had any complaints about them (not even one). That is because the broker understood that in an age of transparency and instant access to information, their reputation was the most important. So, it was in their interest to payout promptly and not generate hardships. Oddly enough, because they were not regulated it was that much more important for these brokers to stay clean and keep their customers happy. They know that as long as there are no complaints, they can keep doing business, and these are exactly the kind of brokers we work with. Not big like Ava Trade where you get lost, or scam brokers like Bigoption. We hand pick our brokers and constantly check them after they are integrated into our systems. We know exactly how to deal with them if and when the situation arises.

Skepticism, A Grain of Salt Not A Bucket!
A grain of salt and proper research will save you a pretty penny, but too much skepticism will keep you where you are instead of where you want and should be. Sometimes changes and hyper-information can get you sidetracked and confused. It’s important to filter out the static and focus your efforts on simple and profitable apps which can produce consistent income.

I Like the App But Not The Broker!
Well, as mentioned previously all our apps have a broker lineup and all of them are constantly being tested, poked, and prodded in a way which removes any doubt of possible scam. Regulated does not necessarily play a factor in our filtering process, as we make sure to take proper precautions regardless of which broker we deal with. We trust NO broker as we have been previously burned so all our guarantees are backed in writing and we make sure to use only the right type of brokers. In fact, the brokers that burned us the most are regulated, since they understand their license keeps customers coming back and not necessarily the level of service they offer. The ones that provide good service, payout on time, and don’t bother their customers too much are the ONLY brokers we work with.

Signals, Forex EA’s, Crypto Robots
Our recommended systems have passed a rigorous screening process and we make sure to include the best possible brokers.

I “Got Scammed” By Ava Trade!
The more years a broker has been around, the more complaints they have. This is true for any business regardless of the industry or niche. Of course you will hear this chatter in forums, but we checked and the dates go way back so we understand that Ava Trade does a decent job of handing their customers complaints and address their issues.

Summary And Conclusions
In a nutshell not all regulated brokers are legit or honest, and contrarily there are more than a few unregulated brokers which run a clean operation and treat their customers like royalty. Now, this doesn’t mean that all the unregulated brokers are legit, but we are saying that they are not all scumbags (this is also very logical if you think about it). Don’t forget to check out our Facebook page and subscribe to our YouTube Channel.

Filed Under: Broker Reviews

BDSwiss Review, Is Banc De Swiss a SCAM or Legit Broker?

July 10, 2017 by Patrick Jones 1 Comment

Welcome to our official BDSwiss broker review and scam investigation. If you have been scammed by BDSwiss (Banc De Swiss), or alternatively if you are searching the internet for a fair and honest review of this broker, then you are in for a rare treat. Initially we received some complaints and were about to blacklist BDSwiss, but after a closer look and examination of the facts, we found out this broker was totally legit and does not steal money.

Swiss Markets and BDSwiss are owned and operated by the BDSwiss Holding Plc.

Official Website, Login Page, and Members Area: BDSwiss

Their Address is: Ioanni Stylianou 6, 2nd floor, Office 202, 2003 Nicosia, Cyprus. They have an ombudsman and an email for complaints which is listed as: [email protected] (and they respond)

Trader’s Snapshot:
Minimum Deposit: $200
Minimum Trade: $5 on 60 Second Options
US, CA, AUS Traders: Not Accepted
Demo Account: Yes
Regulation: CySec, MiFID License Number 199/13
Accepted Currencies: EUR, USD, GBP, CHF
Offering: Binary, Forex, CFDs

Registration Process:
Simple signup process. The initial stages require the basic name, address, email, phone number, and password. After that you are directed to the cashier section of the software in order to fund your trading account.

Safety & Security:
The BDSwiss website as well as cashier is HTTPS Secure, which means your information is kept private and all transactions are encrypted by a 128 Bit SSL layers. In layman’s terms this means when your credit card is charged there are added security levels on it which keeps the information hacker-safe. From an operational perspective, since this is a regulated entity we are dealing with an organization which is PCI compliant. This means the credit card information is stored on a secured server by a third party specifically licensed for this type of task.

Regulation:
Its fair to say that BDSwiss is one of the most regulated brokers you can find. It is even licensed by the National Futures Association in the USA NFA ID: 0486419, in CySec, as well as a host of other well recognized licensing authorities. Feel free to check the whole list here:

Banking:
The available payment methods include the standard Visa and Mastercard (debit as well), but also Skrill (Moneybookers), Sofort, EPS, Giropay, Neosurf, and Paysafe Card. You can also cash out winnings to your credit card and E-wallets, and that is an unexpected and welcome surprise.

Accounts Types:
There are two types: Basic and Black. The former has an average spread of 1 and the latter of 1.3. Leverage and lot sizes are similar, but on high deposits of $10,000 or higher no commissions are charged.

Bonus Policy:
BDSwiss offers a 25% Bonus on any deposit up to €4,000. In their bonus policy, we do not see a clear indication of how many times the bonus must be traded in order to cash out. What we do understand is that once the trading volume is reached the bonus amount is deducted from the winnings and you are able to cash out once your account “stops-out”. Because the bonus policy is not very clear we advise you NOT to accept any type of free incentives as this will surely lock you into a trading requirement and hinder your ability to withdraw money.

Dormant Account Policy: If you are inactive for a period of 12 months or over, your account will be locked and you will not be able to access your money.

Educational Tools:
This broker has courses, lessons, and live webinars designed to teach you the ins and outs of the software. Its extremely robust and I must say one of the best and most professional our team has seen.

Mobile Trading:
Use your smartphone, iPhone, iPad, Android, IOS, handheld device, laptop, or tablets. This software is totally mobile friendly as you can see below. It even offers a free MT4 Terminal for MAC, Windows, and Web Trader.

Trading Features:
These include currency pairs, Classic Binary, OneTouch, Ladder, boundary and OptionBuilder.

Assets:
There are about 150 assets including a variety of stocks, currencies, indices, and commodities. We were able to find Nasdaq, DAX-30, AUS-200, Gold, GOOG, Silver, APPL, S&P500, and COKE, as well as the safe haven pairs like EUR/USD and USD/GBP. Less traditional assets like Copper, Cocoa, and Cotton are also available if you are interested in a bit of diversification.

On CFD’s you have NAS100, NDS_25, NOR_25, SPX500, and US30 .
For Forex you have AUD/USD, GBP/USD, EUR/USD, USD/CAD, as well as other currency pairs.

Customer Service: The service is great, as well as extremely professional and courteous. Not too pushy at all and very informative and easy going.

Viral Scams Trending
The hot scams to avoid are Quantum Code and TAI Robotic.

Review Summary and Conclusions – is BDSwiss a Scam?
BDSwiss is a highly regulated and totally legit broker offering CFDs, Forex, and Binary Options. They even offer multilingual support in German, Italian, French, and Arabic. So if you get stuck and don’t quite understand how to proceed, they will assist you immediately. The people behind it are not crooks and adhere to the strictest guidelines of compliance, anti-fraud, and anti-money laundering laws. If you believe you have fallen victim to BDSwiss and disagree with our conclusions, feel free to leave a message below and share your experience. As always, we invite you to join our Facebook group and subscribe to our YouTube Channel to receive periodical updates.

Filed Under: Broker Reviews Tagged With: BDSwiss Holding Plc., Swiss Markets

NADEX Review, SCAM or Legit Exchange?

June 18, 2017 by Patrick Jones 4 Comments

Welcome to our official NADEX SCAM review and investigation. We are constantly getting requests to conduct a full examination and probe into NADEX, which is one of the 3 approved regulated binary options trading exchanges operating inside the USA. Their address is 311 South Wacker Drive, Suite 2675
Chicago, IL 60606 and their Chief Executive Officer is Timothy McDermott, and our members want to know if it is a legit and genuine software, or a blacklisted SCAM.

Their US toll free number is: (877) 776-2339 and International one is: +1 312 884 0100.
Email is: [email protected]

The Official Website is Nadex.com, which is also the login page and members area.

Nadex Review: A Historical Perspective
Previously known as HedgeStreet, Nadex is an online peer-to-peer platform offering binary options, spreads, Forex, stocks, and commodities. John Nafeh was the original founder and creator of Nadex which was formed in 2004. It was purchased by the IG Group, which is a London-based firm and back in 1974 offered a new way to trade the price of Gold on the London Stock Exchange. Today NADEX, Chicago Board of Exchange (CBOE), and Cantor Exchange are the only regulated entities officially approved by the US Commodity Futures Trading Association to accept trades on binary options.

Nadex Platform Review – The Offering
Nadex offers one of the most advanced and sophisticated trading platforms in the world of exotic options (AKA digital, or binary options) and derivatives. Their proprietary software allows traders to execute orders directly, without a broker. The platform is free, and includes real-time charting and data.

as mentioned previously, this platform is one of only 3 regulated platforms available primarily for US traders, but also available for an international clientele.

How To Start Trading:
1. You must have an opinion or idea of what will happen during a certain time frame in a given market.
2. Choose the asset you would be interested in trading (for example Gold or EUR/GBP).
3. Select a strike price and expiration. In other words, the time and price you wish to make a prediction for. For example, you can choose Silver for $5 at 14:00.
4. Select a direction. Meaning if you believe the contract will expire below the resistance line the you would chose the sell or put option, and if you believe it will expire above it then you would select the call or buy option. The max profit and loss are immediately displayed in the contract box.
5. The last step is to wait for the contract to expire or buyout early and pay a fee.

Spreads
Trading spreads means you are speculating on movements between two price levels. In essence you are looking at the price changes between two resistance lines and trying ascertain the direction.

Trading spreads can be condensed to a four-step process:

1. You must choose a market (i.e Forex, Commodities).
2. Pick your position and price range (buy or sell and the amount you wish to risk).
3. Execute your trade to buy or sell.
4. Manage and close your spread trade.

We recommend you don’t start placing trades on spreads since this is a completely different environment which requires a different knowledge base.

Affiliates
There are affiliate promoting this software, and they are not unethical. They do however neglect  to mention how hard it is to operate the software and the steep learning curve so don’t rush into this just yet.

Diversity of Assets
You can choose from a variety of assents which are divided into “markets”. You have Forex, Stock Indices, Commodities, and Events which are considered extremely speculative and in many cases equated to gambling.

Trading Environment
The environment is not as one would expect and does not resemble the usual more simple trading formats. You do have a demo mode, and it is highly recommended you use it to familiarize yourself with the software.

On the left you can see how the “Finder” feature works. You have the various assets you can choose from, so you open the drop down menu and select the contract type and expiry time.

It’s worth noting that the software supports PC (Windows, Mac, or Linux). We also found it to be mobile friendly (responsive) and there is also a mobile app. You simply search your smart phone, for “Nadex Binary Options” and the first option that will pop up is the one you will need to install. The app is available on IOS as well as on Google Play (Android) cellphones, tablets. iPhones, and most iPads.

It’s also interesting to see that there are additional assets such as Russell 2000, and Soybeans you will not see on the usual Market Maker broker. This adds an interesting twist and a breath of fresh air in the form of access which is usually not granted to day traders.

The Contract or Ticket Box
On the left you will see the ticket box and how it works. In essence you have an offer type, and a bid. You buy or sell the contract based on what you perceive the outcome will be, and once the order expires you can see if you made money or lost your investment.

It’s worth noting that it is possible and also recommended to start out with smaller amounts and test the waters. There are also new terms like depth, and limit GTC which you will encounter.

Generally speaking it is recommended to start out with the smallest size (1) and then proceed. Based on the amount you choose you will also immediately see the amount of money which you have risked. If this is all Chinese to you then you had better dig in deep into the learning center which is packed full of webinars, FAQ’s, videos, handbooks, and trading tutorials. If you want additional information feel free to contact us and we shall be more than happy to point you in the right direction, but anyone can see this is not a “send and forget” hands-off solution. You need to understand exactly what you are doing in order to achieve success with Nadex.

Fees:
Trading fees per contract stand at $1 and capped at $50. If you trade 51 contracts or above, you will not be charged additional fees. If your contract expires in the money, Nadex charges a $1 contract fee, however nothing is charged if you lose your money. Additional fees include withdrawals and returned deposits.

Bonuses and Incentives:
For deposits of $500 or over on your initial deposit your fees will be waived. There are no bonuses as you would receive with your usual broker.

Perceived Benefits
The benefits are there if you can actually master the software and understand how to use it. There’s no way this broker will rip you off, and you will always get paid promptly.

Perceived Threats and Risks
It’s pretty obvious to see that this is not a push money scam offer. However, if you start trading with Nadex and have no prior experience, you had best get ready to sit down and start learning the material because there’s absolutely no possible way for you to succeed if you don’t understand how to maneuver your way inside the system and identify the right opportunities.

Conflict of interest
As opposed to other brokers, there is no conflict of interest as this is a peer-to-peer solution which only provides the trading arena and charges a fixed fee per contract.

Confusing?
Sure is! This is not an automated trading robot and you will need to educate yourself if you wish to succeed. There is a significant amount of knowledge which is needed, and if you fail to learn how the charts and systems work you will surely lose your money.

Can I Make Money With Nadex?
Again, the short answer is yes, however if it was that easy everyone would be rich right? This is not a get-rich-quick scheme, and don’t expect to become a millionaire over night. This is the real thing, but if you are not careful then you will surely end up losing money instead of profiting.

Is Nadex a SCAM?
Nadex is most definitely NOT a scam, and we can say this with absolutely 100% certainty. It is however a platform for trading exotic options and derivatives, and these financial instruments carry a huge amount of risk which leads us to our next section and that what are every-day people saying about it?

What People Say
From the comments and we received it was fairly plain to see that most people ended up losing their money. Again, this is based on what our members say, so please try to understand that there is a broad spectrum of traders executing trades and many of them are experienced and know how to read charts and manage risks. So based on OUR feedback, we would have to say that it is an adventure we would NOT recommend you attempt to endeavor unless you view your trading with Nadex as a form of online trading education and not a way to actually achieve financial freedom.

Signals Versus Trading Robots
If you are not really sure about Nadex and want a tried and tested signals solution or trading robot, please make sure to check out our recommended section. Our staff of researchers has compiled a short yet reputable list of consistent money-making machines which have endured the test of time.

Review Summary and Conclusions – Scam or Legit?
After carefully examining this software our researchers have reached the conclusions the Nadex is NOT a scam, however if you are not an experienced trader chances are you will end up losing your money. So yes, it is a genuine app however as much as they try to educate you there’s no way you will be able to grasp the full scope of the software and how to master the various charts and tools they offer in a reasonable amount of time (again, there are exceptions). So, at the end of the day what you are left with is a legit software that loses you money because its too complicated to use. Due to the facts we have collected we have decided NOT to blacklist this software, but at the same time advise our members to use simpler systems unless they are willing to invest a lot of time learning how to use the software. For more information related to brokers, auto-traders, and signals please join our Facebook page and Subscribe to our YouTube Channel.

Filed Under: Broker Reviews Tagged With: HedgeStreet, John Nafeh, Timothy McDermott

Binary Banc Review, SCAM Broker Exposed

December 4, 2016 by Patrick Jones 6 Comments

Binary Banc is a SCAM broker and we have blacklisted it in our detailed and factual review and investigation. We have recently received a non-payment complaint in regards to Binary Banc, an unlicensed broker registered in the shady jurisdiction of Tbilisi Georgia. For those of you who are new to binary options trading, you should know that a broker which declines withdrawals must have a very good reason for doing so since it considered to be the cardinal sin in the industry. Our most recent complaint about declined withdrawals just arrived from a US-based day trader who was scammed out of a whopping sum of $64,000, and after we started digging in deeper we found out Binary Banc (not to be confused with Banc de Binary) is managed by ChargeXP Investments Ltd. which is owned by a group of criminals who could care less about ethical business practices or the welfare of their customers. This is what we refer to as a “deposit only broker”, and it soul purpose of existence is to generate short-term and immediate gains for its owners. It is viewed as someone’s personal cash cow and explicitly used for stealing money, defrauding, and victimizing unsuspecting traders looking to make a few bucks trading binary options online. Keep reading to see how we document the scam and why Binary Banc deserves to be besmirched, ruthlessly exposed, and dragged through the mud.

Official Scam Broker Website and Login Page: https://binarybanc.com/

Binary Banc Broker Review
This broker is unregulated and unlicensed by any trading jurisdiction or or regulatory body such as CySec or ASIC. It is powered by the Panda software which is known to have a checkered past and a dubious reputation for wiping out bank accounts and providing fake signals.

The broker offers the standard run-of-the-mill assets such as Forex currency pairs, commodities, indices, and stocks. All of these are powered by the fraudulent software which looks appealing and legit to the naked eye, but in reality it is totally rigged and the so-called “senior account executives” are there to bleed you dry and steal your credit card details so they can over-charge you.

The various trading options include 60 seconds, hyper, ladder, long term contracts, binary, one touch, and a social trading or “follow me” feature that allows you to copy other traders.

Account types include Micro, Silver, Gold, Platinum, Royal, and Corporate. All of these are set in place in order to give you additional perks such as bonuses or training sessions, if you invest more heavily. They also offer a video library with online courses and webinars which are only available for active traders.

Documented Complaints and Verified Proof of Fraud and SCAM
Here we have an email which we received from Eric Minkin who has actually taken real screenshots of his account’s trading history. It seems he actually MADE money with this broker, but they are not letting him cash it out. All they do is tell him to keep depositing and deferring payments due to different reasons, but in reality this is the worst type of scam imaginable since the customer is literally seeing how much money is being stolen from them and they can’t do anything about it.

binarybanc

Above you will see a screenshot of what Eric sent our staff. It is a preview of the open positions in the trading history section of the binary bank software. You can very easily see the winning history, (which I may say is very impressive) and the actual balance which has been accrued. Below is a formal letter sent to the binary bank management team asking them about cashing out and banning them from trading on his behalf. It’s fair to say this person did everything in his power to get paid, but he has been thrown to the wolves and is now fighting as hard as he can to claim what is rightfully his.

binarybanc2

To the owners and management of Binary Banc, it does us no honor to openly discredit your broker and company and we will gladly remove or revise our review if and when you remedy the situation and start paying your customers. If you feel we have judged you too harshly we are willing to issue a clarification, but you must contact Eric and at start paying him what he is owed. Otherwise this post will remain as is and we will make sure it gets the maximum possible exposure on YouTube as well as other social media channels.

Signals, Trading Robots, and Other Systems
We are approached on a daily basis with requests to endorse new apps and trading systems. The vast majority of these auto-traders are a waste of time, but every now and then we find a solid app and decide to showcase it in our recommended systems.

recommended systems2

Review Conclusions and Recommendations
Binary Banc is a SCAM broker and we have blacklisted it in our fair and impartial review. We have also seen it has been exposed by various review sites and complaints boards, so all the dots are starting to connect and the picture is very clear. If you have stumbled onto this broker after being enticed by a fake signals provider or fraudulent trading robots like Gemini 2 or Jarvis Formula, you had better hold on to your wallet and never give out your credit card information. We are absolutely certain Binary Banc will steal your money and defraud you, this is a 100% guarantee. We also think trying to piggy back on the reputation of a reputable broker such as Banc De Binary is not only distasteful, its also grounds for a trademark infringement lawsuit. In short, don’t deposit and never give any of your personal information such as email or phone number because they will relentlessly badger you until they have had their pound of flesh.

Filed Under: Broker Reviews Tagged With: banc de binary

24Option is a SCAM Broker? Not Your Usual Review!

September 29, 2016 by Patrick Jones 9 Comments

24Option is one of the oldest and most respected regulated binary options brokers managed by Rodeler Ltd. which is the Cyprus-based holdings company. Their Address is: Samos Business Center 2nd floor 67 Spyrou Kyprianou Street Potamos Yermasoyia, Limassol and they were established at 2009 .

If you have heard 24Option is a SCAM and are looking for a legit and impartial review, you have found it. This will not be the usual review which is designed to promote a certain broker in order to receive commissions for referred clients. We will examine 24option through a prism, meaning we will look at the various factors which enable a broker to operate and provide service, and based on these factors try to reach the proper conclusions. We have done this because at the end of the day, all brokers offer Forex currency pairs, stocks, indices, and commodities on the asset index, but day traders or potential customers (that’s you) search for a broker like 24Option to find out if they are reliable, honest, regulated, professional, and payout promptly. In today’s saturated binary options niche, educated traders understand the gambling element and the high level of risk, but what they are less informed about is how an operation is managed and how to receive the best possible benefits while maintaining a VIP status.

en_freesignals_regulated_468x60

A Bit of Background
24Option has been around for a long time and has actually sponsored European Football clubs like Juventus, and advertises in Bloomberg and CNN Finance from time to time. They even hired retired Tennis player Boris Becker to be their spokesperson, however these are all irrelevant when it comes to trading, and the only things that should interest you are what kind of benefits you qualify to receive, do they make it hard to cash out, and are there any constraints or guidelines that have to be followed in order to collect winnings.

24optiontaxis

On a positive note, below you will see the website of Rodeler LTD, which is the 24option holdings company. You can see that they also own Grand Option, 24FX, and QuickOption. It’s refreshing to see they have solid protocols set in place for traders who wish to complain, however you must understand that this in no way guarantees your grievance shall be met with a positive response from their ombudsman.

24optioncomplaints

It’s worth mentioning that 24Option was recently fined by The Cyprus Securities and Exchange Commission (CySEC) to the tune of 350,00 Euros for reasons having to do with false advertising practices and failure to maintain proper records of trader complaints. On that note, you must know that there are many 3rd party advertisers which don’t necessarily care about or even understand the regulatory concerns and simply want to advertise effectively. It’s also the understanding of this writer that the regulators are simply looking for a cash cow to collect extra money from to fill their coffers and have decided that 24Option would be a good place to start since it has a monthly revenue stream of over 20 Million Dollars (give or take a few pennies).

Trader’s Snapshot

Company Formation Date: 2010
Regulation: CySec
Company Registration Number: 312820
Platform: Tech Financials Software
Maximum Returns: 89% advertised rate, but we have something to say about this.
Minimum Deposit: $/€/£ 250
Minimum Investment: $/€/£ 24
Accepted Currencies: USD, EUR, GBP, Japanese Yen
Mobile Trading: Supported
Excluded Countries: USA and Australia

Can I Withdraw My Money from 24Option?
The answer is yes, but since these guys are so big you will feel like they are bouncing you around when asking for documents. The response times are borderline when it comes to cashing out, and the atmosphere is cold and correct. Don’t be surprised if you are suddenly exposed to certain promotions or if your account manager calls you up and offers you a bonus to cancel your withdrawal. Again, in the end they will pay if you have rightfully won money, but don’t expect them to be super happy about it. The actual banking section is web-based and connected to your account. The variety of depositing and withdrawal options available to you far exceed 90% of what is currently being offered today by other brokers. Again, Paypal is not allowed since binary options regulation is a fairly new area and their corporate lawyers would not be willing to put anything in writing in this context.

24optionsbanking

How Come I Don’t See Any Negative Reviews In Regards to 24Option?
Well, technically speaking you must understand that these people are very rich and have been around for the longest time. There is a reason for this, the fact that they are regulated helps them maintain a leadership status, and since they were one of the first ones in the business there are various sites which are loyal to them from the beginning and these websites have high exposure on the internet. In reality, every broker has made mistakes in the past, but if the reviews are too squeaky clean then money has changed hands or will do so in the future depending on the agreement between the broker and review site.

What is the Actual Offering and Asset Index? And Is it Different Then the Rest?
The offering included Binary Options, CFDs, and Forex via 24FX. The CFD’s section is relatively new and deserves a totally separate review, but in general we are talking about the scaled down version of Plus500, which has recently been acquired by Playtech and Multi-Billionaire Teddy Sagi.

The 24Option Assets index included the standard safe haven currency pairs such as EUR/USD, USD/JPY (Gopher), GBP/USD (Cable), USD/CAD, USD/CHF (Swissie), and AUD/USD (Aussie), but also less familiar pairs such as EUR/NOK, and  USD/ SEK.

On Commodities it offers the standard, Gold, Silver, Platinum, Coffee, Sugar, and Platinum as well as others.

Stocks: Google, Facebook, Microsoft, Coca Cola, IBM, Exxon, and Tesco as well as other leading stocks.

Indices: Here we have the FTSE, DAX, Dow Jones, Nasdaq, Ibex, and SNP500 as well as others.

It’s worth mentioning that the 24Option trading environment resembles that of Forex and it is quite different from other software platforms in this context. It is also the reason it is very much preferred by Forex traders wanting to make a transition from foreign exchange trading to exotic AKA digital options.

Educational Section
They really invested here and it shows. It seems this section was designed by a professional product manager who has done an impressive job at putting together a webinar and training schedule which is integrated with gotowebinar and flexible enough to bend to your needs instead of the opposite. Its also divided into sections such basics, intermediate, and advanced. They have everything from introductory courses including strategies such as Tunnel, Fractal, and Passive trading, and all these are explained in a relatively easy to understand way.

24Option Trading Guide
The guide talks about the various issues having to do with regulation, their CySec license (number 312820), the trading platform as well as features such as High/Low, Short term contracts, One Touch, boundary, and Above/Below. The 24Options trading package includes access to free signals integrated seamlessly inside the software.

Binary Options Signals
The signals at 24option are already an inclusive part of the trading arena and not an external system. From a legal point of view this can present a problem, since you actually have the broker recommending what positions to take and this exposes them to a legal issue. Technically speaking they can be sued for providing inaccurate signals, and the fact that their license permits them to do it does not mean that when push comes to shove it will matter.

24optionsignals

Why Are People Searching for 24Option?
A simple search on Google Trends will show you just how much this broker is being searched for online. There has been massive growth in search queries related it, and it mostly comes from Italy, Spain, France, Russia, and Germany which tells us these are the countries where advertising is spent and where 24Option views itself as a market leader in terms of new customer acquisition.

24optiontrends

It should come as no surprise that sponsoring Juventus is the reason why Italy has the highest amount of 24Option  searches, however we did expect the UK to have a stronger standing in terms of market share.

How Are Customers Being Acquired?
The customer acquisition is done via advertising, sponsorship, affiliate marketing, search engine marketing and optimization, PPC, various forms of business development, and off line tactics such as advertising on taxicabs, billboards, and postcards in various European bars. It is said the 24Option advertising budget is the biggest in the binary options industry, which is a strong indication of what type of broker we are dealing with.

24option

What Are the Risks?
The risks should be obvious and they are clearly stated on the 24Option website or banners posted on third party affiliate websites. Trading involves risk, and you may lose your capital so there’s a fair warning to you. Don’t fall for various hyped up claims or various get-rich-quick schemes because those are a one way ticket to desperation and misery.

Who Are the People Behind It?
Well, here’s where it starts to get a bit dodgy mainly due to tax related issues. When checking this out we noticed a Mr. Demitrios Leontis registered as the Director but a closer look indicates to us he may be a person acting as a front for someone else who wishes to remain anonymous. So, while this may sound alarming, it is very common especially with rich people who wish to keep their identity a secret and does not necessarily mean these people are crooks.

A Corrupt Industry?
Recently there has been a lot of talk about binary options regulation and how the markets have reached a certain level of saturation or maturity. Customers have become more educated and are beginning to understand how difficult it can be to actually make money in this business. Customers registering for 24Option expect to be swept off their feet and warmly greeted, however this is not the case. Instead you will most likely find yourself speaking to your broker about how to return your initial investment or looking for a way to diversify via other instruments. There has been much talk about how binary options is actually gambling disguised as legit trading. I personally have always looked at it as a form of financial betting which has been hyped up by online marketers seeking to get commissions.

Review Summary and Conclusions
24option is probably the leading binary options broker in the industry, and it is for this reason that we do recommend it for two main reasons and not because it’s a scam broker (quite the opposite is true). The first reason has to do with the fact that when we felt cheated and not paid for endorsing them as legit brokers they resolved the issue professionally. In this context there was no conflict of interest since we were endorsing a fully regulated, top tier broker and it was supposed to be a win-win situation for all parties (customer, advertiser, and broker). When we thought they reneged on their commitment we placed them in a “not recommended, however not blacklisted” category. But this has changed and it was explained to us that it will not happen again. We honestly believe them and today we know they do not treat their customers with carelessness. Secondly and just as important, they are just too professional! So if you have a thousand dollars to invest or $250, you will still get treated respectfully and today we know this to be a fact. Receiving a call from your broker is not necessarily a bad thing, and can be especially useful when you attempt to cash out. It’s for this reason we are recommending and partnering with 24option. They have managed to grow into a huge and reputable broker, and also to payout promptly, but still keep the personal one-on-one approach.

Filed Under: Broker Reviews Tagged With: Rodeler Ltd

OptionWeb Review

December 1, 2015 by Patrick Jones Leave a Comment

Optionweb is probably one of the oldest and most respected brokers in the industry. It has built itself a solid reputation based on a few very strong points. The first and most evident aspect is the stringent and uncompromising conformation to CySec regulatory guidelines.

Update: Optionweb no longer accepts customers from most countries in the world. It has chosen to conform to the strictest form of compliance to regulations and is basically excluding around 95% of the world’s population. In light of this development we are no longer recommending this broker and advise them to be more pragmatic in their interpretation of regulation. Otherwise they will be left with no business.

Snapshot:
Minimum Deposit: $200
Minimum Trade: $5 on 60 Second Options
US Traders: Not Accepted
Demo Account: No
Regulation: CySec, MiFID License Number 175/12
Accepted Currencies: EUR, USD, GBP
This broker is only suitable for European traders

Registration Process: Lengthy and cumbersome, however very professional and you can definitely see a the level of professionalism. You will be required to fill out excessive information concerning your level of income and history of trading, however this is due to regulatory requirements imposed by the Cyprus Exchange and Securities Commission.

Security & Safety: Well, I think that it’s very plain to see. You will be required to verify your details and answer a phone call, otherwise you will not be able to fund your account and execute trades. On a structural level, Optionweb is PCI Compliant, which means the credit card information is stored on a secured server by a company specifically licensed by the credit card companies for this purpose. It means they adhere to the strictest norms of compliance and anti-fraud as well as anti-money laundering laws. Needless to say the cashier section of the software is encrypted by a 128 Bit SSL layers, which means all the transactions are coded and potential hackers will just prefer to move on to the next victim instead of spending countless hours trying to breach the security protocols.

Banking: The payment methods include the usual Visa and Mastercard (debit as well), but also Skrill (Moneybookers), Neteller, Neosurf, and Paysafe Card. You can also withdraw funds to your credit card and E-wallets, which is an unusually refreshing deviation from the standard wire transfer.

Accounts Types: 5 account types are on offer – Starter, Standard, Silver, Gold and Platinum, and are variants of your initial deposit amount as well as trading competence. Starting out with the ‘Standard’ account, a useful Demo option is enabled, making it simple to practice different techniques and strategies without absorbing any potential exposure.

OptionWeb Approved Broker

Bonus Policy: The bonus structure is extremely stingy, and if you are looking for this form of incentive seek alternative brokers. Additionally, for any bonus you receive you will be required to trade 20-30 times the bonus you receive. For a details explanation about the pros and cons of accepting bonuses in binary options please make sure to get full details from your broker before investing.

Dormant Account Policy: This is something I don’t like and can be very disturbing. If you have a balance in your account but don’t actively trade, Optionweb reserves the right to charge you a 5 Euro “administration fee”. Well, granted it’s not a lot but let’s say some people prefer email communication and have unlisted phone numbers. So, the broker can’t call them, and if for some reason the mail gets into the spam box for whatever reason this trader is very likely to feel cheated. So I personally don’t agree with this policy and believe it is just another way for the company to improve the stats.

Educational Tools: Optionweb offers a free E-book, Daily reviews, news updates, and economic calendars. It also offers personalized trading, guaranteed trades, and coaching for more serious investors

Mobile Trading: You can use iPhone or Android device to download their app. In fact I have done so and found it to be very friendly for monitoring my trades, however I always prefer trading with my desktop at home.

Trading Features: These include currency pairs, Classic Binary, OneTouch, Ladder and OptionBuilder.  Trades can be executed from as little as $5, and ITM trades can potentially reach an 88% payout percentage for up/down style trades, and up to 750% for  OneTouch, although I don’t recommend it due to the high level of risk involved with this feature.

Assets: There are about 120 assets including stocks, currencies, indices, and commodities. You can find all the major ones there like GOOG, APPL, and COKE, as well as the safe haven pairs like EUR/USD and USD/GBP. Less traditional assets like TOPIX and MICEX are also available if you are interested in a bit of diversification.

Customer Service: The service is very polite yet correct and not very warm as maybe Canadians or Australians would be accustomed to, however the response times are good and informative.

Conclusions: Overall I have to recommend Optionweb in this review particularly if you are from a Western European country (but not only). Their not too big like 24Option, which means they do try harder, and they are also more attentive and resolute when asking difficult questions like how many days does it take to withdraw money from my account (that would be up to 5 days after all documents are signed and delivered). Additionally they come across as very professional and institutionalized, and this is something which is extremely important these days where you have new brokers sprouting like mushrooms in the forest and offering you special and unusual perks to join them.

Your opinions matter, leave a comment below.

Filed Under: Broker Reviews Tagged With: optionweb, optionweb broker review, optionweb review

Tradorax Review

December 1, 2015 by Patrick Jones 7 Comments

Tradorax is a relatively new broker powered by the Tech Financials software and currently accepting US traders. As opposed to the standard brokers, Tradorax also utilizes Forex trading software, which provides it with an additional advantage over your standard broker.

Update: Tradorax is a SCAM broker – Confirmed Via multiple feedback channels.

 

Trader’s Snapshot:
Minimum Deposit: $250
Accepted Currencies: USD, EUR, GBP, YEN, RUB
Minimum Trade: $5 On 60 Seconds
Accepting US: Yes
Demo Account: No
Forex: Yes (Lite)
Broker Type: Market Maker (Not an ECN and no dealing desk)
Language Support: English (Site is also supported in German and Russian)

 

Security:
This broker provides a completely safe and secure trading environment. The cashier, as well as all the coded transactions are stored with an SSL encryption key. These guys know the business and management has gone to great length in order to protect its clients from various forms of identity theft and/or credit card fraud. For example, one method they employ is to only keep the last 4 digits of the credit card, no one has access to this information other than the credit card company and yourself.

Registration: The registration process is extremely simple and intuitive. There are just a few simple details you would need to fill out and you are on your way to the cashier section of the software. Tradorax Registration

Bonus Structure: They are offering up to 100% on your initial investment, and the higher the deposit amount the bigger the bonus. Please note there are trading requirements it’s 30 times the deposit and bonus for binaries and 50 times for Forex. Please make sure to check the bonus terms and conditions at all times before accepting anything because the rules due tend to change from time to time.

Education: Tradorax offers a broad range of educational tools designed to get you started. It has an extensive video library, trading guides, as well as live chats that are responsive as well as they are informative and professional.

Mobile Trading: There is an android App available, but I don’t see anything for iPhones offered which is kind of a shame. The pages are responsive though, which means you can login through your tablet or Macbook and get a clear resolution. The actual trading software is not responsive though, which means you can register via your cell phone but the actual trading needs to be done via a desktop computer.

Forex Facts
EUR/USD , GBP/USD , USD/JPY  – Spreads (available in pips).
Maximum Leverage: Consult Desk
Minimum Transaction: $10
24hr Trading: Definitely

Fees:
The broker does not charge fees as is always the case with a Market Maker type of contract.

Deposit Methods:
Visa, Mastercard, WireTransfers, Ideal, CashU, Webmoney, Neteller, and Sofort

Islamic Accounts:
Tradorax does not offer Islamic accounts at this time.

Regulation:
I was told a process to get a CySec license is afoot, however until it arrives there is no regulatory framework to conform to.

Asset Index

Currency Pairs
EUR/USD, GBP/USD, EUR/GBP, GBP/JPY, EUR/JPY, USD/JPY, AUD/USD,
USD/CAD, USD/ZAR, USD/TRY, USD/CHF, CAD/JPY, USD/NOK, NZD/USD,
AUD/JPY, USD/RUB GBP/CAD, EUR/TRY, EUR/NOK, EUR/CAD, EUR/ZAR,
AUD/CHF, EUR/AUD, GBP/AUD, NZD/CHF, AUD/NZD, CHF/JPY, GBP/CHF,
CAD/CHF, USD/MXN, AUD/CAD, USD/CNY, BITCOIN/USD

Commodities:
Oil, Gold, Platinum, Gold/EUR, Gold/Silver, Copper, Gold/JPY, Corn, Coffee, Sugar

Stocks:
Barclays, Telefonica, Orange France, Societe General, BBVA, Gazprom, Renault, Sberbank,
Tesco, Vodafone, BP, BNP Paribas, AXA, Royal Dutch, Verizon, Google, Apple, Coca-Cola,
JPMorgan Chase, McDonald’s, Microsoft, Cisco, Intel, Dell, Amazon, Yahoo, Ebay, Pfizer,
IBM, NIKE, EXXON, CITIGROUP, Amex, Baidu, Facebook, Netflix, Priceline, LinkedIn,
Disney, GoldCorp, SilverWheaton, Goldman Sachs, Twitter, Adidas, Alibaba, Deutsche, Bank, Anz, BHP Billiton, Westpac Banking, Rio Tinto,  Sony, Sumitomo, Samsung, ICICI Bank, Tata Motors Ltd, Ferrari, Walmart

Indices:
CAC-40 future, FTSE 100-future, South Africa future, SMI-future, S&P 500-future, DAX-30 FUture, IBEX-Future, TADAWUL, BUX, MICEX, RTSI, Dow Jones 30-Future, Nasdaq, 100-Future, ASX-200 Future, Nikkei 225- Future, Kospi 200, Hang Seng Future, Bombay 30, DUBAI, Qatar Index, Kuwait Index

Conclusions and Recommendations:
Despite the fact that this broker has to undergo regulation, I found it to be one of the more professional ones, especially when it comes to the trading environment and prompt payouts. It employs the standard High/Low, One Touch, Boundary, and Short Term as well as 60 second options. Overall highly recommended for both professional as well as amateur traders just starting out.

Share your thoughts, please leave a message below.

Filed Under: Broker Reviews Tagged With: tradorax, tradorax review

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