FTrade – Scam or Not

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Is Olymp Trade a Scam or Not: A Real Review

There has been continued speculation as to whether or not Olymp Trade is a scam. As an options trading platform that is registered outside of the best known regulatory branches, it is an easy question to have. This article will answer your burning questions around whether or not Olymp Trade is a scam.

What is Olymp Trade?

Olymp Trade is a trading platform that allows traders to set options for currency pairs, commodities, stocks, indices, and cryptocurrencies. This means the platform allows traders to open a position predicting the price will go up or down. This is also known as binary options trading because a trader is typically only able to choose up or down. On Olymp Trades platform traders can also push, meaning they believe the price will remain the same.

Trade durations can be set in one-minute increments up to twenty-four-hours. Traders are able to see the percentage profit they will make for each trade before they place it. This allows them to pick the pairs that they best understand and will be most profitable. Upon choosing that the price will go up, down, or remain the same for a currency pair, index, or stock the money is taken from the trader’s account to cover the trade. Once a successful trade is completed the money is immediately credited to a traders account.

Unlike some other options trading platforms Olymp Trade does not take a percentage of trades, deposits, or withdrawals.

How is Olymp Trade not a Scam?

There is risk inherent within all trades; those executed on Olymp Trade’s platform are no exception. Olymp Trade is a member of International Financial Commission. This membership effectively insures traders on the platform, providing them protection from fraudulent activities on the part of the broker. To become a member, the Commission investigated Olymp Trade’s practices to determine it was not a scam. The International Financial Commission acts as a third party intermediary between the trader and Olymp Trade if a trader feels they have been cheated or scammed by the platform. If Olymp Trade scammed its traders each trader would be eligible to receive up to 20,000 Euro from the International Financial Commission.

Beyond Olymp Trade’s membership as mentioned before they do not have a typical pay structure. Unlike some platforms, Olymp Trade does not take a percentage of traders’ earnings, whether at the moment of the trade or upon withdrawal, charge transaction fees, or scam traders with hidden fees. With the exception of a small fee for keeping a position open overnight. Many people use this as their justification in their belief that Olymp Trade is a scam. Though there are few fees, Olymp Trade has a better way to turn a profit.

To better illustrate why Olymp Trade does not need to charge fees while not being a scam: two traders are placing opposing options on the platform; Charlie believes the price will go up and Rajesh believes the price will go down; they both open a $100 position for five minutes with the potential of earning 80%. At the end of the five-minutes, Rajesh is correct and $180 is added to his account. The $100 dollars Charlie lost is used to cover the $80 Rajesh earned, and the remaining $20 is collected by Olymp Trade. This is how Olymp Trade is able to charge few fees while not being a scam.

The money that is collected from opposing positions is used to create a reserve to handle any trades that do not have an opposite. Trading is risky; therefore most traders are not going to be correct with every option they choose. When a trader is not correct their deposit covers the earnings of someone whose strategy won out. There are maximum wager limits to ensure that all gains can be covered.

Olymp Trade is not a scam because it holds a reserve of money to pay out to winning bids if there is no opposing trade. This reserve grows with every wrong choice and since there are not 100% options: meaning you bid $100 and are correct you would receive $200, the reserve will hold.

What Else Should I Know?

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Traders can receive VIP status with qualifying deposits, granting them access to live advisors who respond in 15 seconds or less on average, higher earning potential, and risk-free trades. VIPs also receive access to exclusive webinars and trading strategies.

Payouts are quickly made directly to the bank account or e-wallet traders use to deposit money. Withdrawing funds is simple and are generally completed within 3 business days. There is a minimum withdrawal limit, but no maximum. With a scam, traders would not receive their money or be charged exorbitant fees drastically reducing their payout.

The user interface was made to be intuitive, easy to use, and understand. Olymp Trade provides educational materials on trend indicators and different strategies. A chat box helps deliver information about the many different topics. There are a continuously increasing number of videos and webinars on a range of topics. New ones come out often to keep traders up to date with the latest trends and platform changes.

To complement their educational material Olymp trade provides a free demo trading platform. New traders are able to set up accounts without making a deposit to the platform. Traders have a safe space to try and learn new strategies in a live market setting without risking their own money.

There is also an Analytics section. Technical analysis gives traders an opportunity to take an in-depth look at individual assets and pairs traded on the platform. The Economic calendar shows relevant events for the coming week. There is also a convenient section on Volatility as affected by trading times and what that means for the trader. Trading signals assist traders in making educated decisions based on compiled data.

In conclusion, Olymp Trade is not a scam. Trading is a complex world. Olymp Trade is a fantastic trading platform to learn on, perfect for anyone looking to experiment with binary options, even if only to practice strategies. Though as a platform Olymp Trade does not adhere to usual fee structures and money-making practices, it is not a scam but an innovator in the realm of options trading.

FTrade Review

Have you ever heard about FTrade broker? Regardless of the answer, this is one of the binary brokers that is a newcomer to the marker. It has a lot of different feedback but we believe that you can trust it. If you are curious to discover the reasons, read our full FTrade review.


Min. Deposit:
$200

Trading Platform: SpotOption

US Clients: Not Available

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

FTrade: About the Company

So what is known about this broker? Well, the information presented on the website is pretty much sufficient. After all, we managed to find out that FTrade was opened in July 2020 and it is currently owned by Binext Global Ltd and is located in Majuro, Marshall Islands. This broker has 2 offices in the UK and Anguilla. They have more than 100 employees between these 2 offices. They claim that they provide only best services to their customers.

FTrade binary broker is not licensed by any regulator, but it does not allow US clients, which is one of the reliability signs.

FTrade Review: Trading Accounts

This broker can provide you with several account types and actually makes it better and more proficient. Let’s take a closer look at them:

  • Mini Account
    As far as you understand, this the cheapest account of binary options offered by FTrade. The minimum deposit amount is $200. You have not a big chance to get the bonus here – up to 20%. There also some extra features like market reviews and learning centre.
  • Basic Account
    This one the standard accounts usually most suitable for the beginners in trading. The minimum deposit here is $500 doubled with the bonus of up to 30%. There is an educational package including Introductory level Learning Center membership, one on one Candlestick chart training. And that’s all. Again, you can receive market reviews and have an access to Learning Center.
  • Standard Account
    This is perhaps the most promoted trading account type at this broker. Minimum deposit is evaluated $1,000 alongside with the bonus up to 40%. In addition, they offer a dedicated account manager, strategy session with their specialist and also money management training. This seems to be a good opportunity, for everybody that decides to go for FTrade broker
  • Executive Account
    The last ordinary account in our FTrade review is called the Executive. It’s distinctive feature is the availability of 3 trading strategies, “professional” trading analysis. Take into consideration that minimum deposit here is $5,000 with the bonus up to 50%.

FT Trade Corporate Account

There is one account type that should be spoken of. We do consider this Corporate Account as a positive feature of the broker and it is also an interesting type. The key distinction of the Corporate Account is that it can be opened under the name of the company. As the lucrative account type, the minimum deposit here starts at $10,000. Additionally, the bonus you can get is up to 75%.

So what are the essential features this account represents? Well, all accounts are commissions free and they are actually entitled to a welcome bonus, entailing also free phone line, email support and live chat.

This broker also claims to provide you with the most relevant market news and reviews by their financial experts.

With this account you can view all your deposits, withdrawals as well as trading history in the My Account section of the trading platform. But, if you want to access a detailed account record, this needs a special request to the broker directly.

FTrade Platform

FTrade grants you the top-notch and simply most advanced trading platform. In practice your potential expectations correspond the actual reality, you get SpotOption trading platform without custom design. It is raw and user friendly. FTrade platform is web based, no software must be downloaded. FTrade also offers you a mobile trading.

Their trading platform is accessible in variety of languages: English, Arabic, Russian and Turkish.

At this broker there is a substantial number of assets that encompasses: currency pairs, indices, metals, 60 seconds, one touch, ladder and long term. If you want to trade stocks, their list includes: Apple, Google, Microsoft, Coca-Cola, IBM, EBay etc. As the matter of fact, the minimum trade investment for Binary options is $25. However, your trading starts at $5 for 60 Seconds trades, for example.

There is one unpleasant fact – there is no demo account provided at FTrade. Therefore, you have no opportunity to verify the viability of the platform. But you can go directly to SpotOption website and test a platform there.

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

FTrade Review: Deposits and Withdrawals

As for the deposits and withdrawals, both types of operations require credit cards, wire transfers and also CashU. Unfortunately, the have no other payment methods. What is perhaps the only thing good about this broker is that they are no fees or commissions charged for deposits and withdrawals.

To process a withdrawal request, it takes up to 5 business days. The withdrawal amount maximum cannot exceed the amount invested by a credit card. Extra funds can be withdrawn via wire transfer.

FTrade: Opening an Account

Account application process is sophisticated and the broker does not request special information to be provided.

FTrade Conclusion

As the matter of fact, FTrade has something special to offer the trader. It is trustworthy regardless the fact that FTrade is not regulated by any official body. Is FTrade scam? No, we do not think so. It uses the best binary options trading platform and FTrade services are provided on the high quality level. If you feel like it is the right broker for you – sign up now!

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

Neto trade-scam

romeshb

Recruit

I opened a forex account with Neto Trade back in April and deposited around 16K USD. I traded and made my account to 89K in 2 weeks because there was very good news items from Japan. I asked for a refund of 4K. The account manager at that time called Steven Becket sent the funds after a long delay and follow up.

Then an new account manager called Steven Smith called me and said that I am doing a great job and that he can trade my account to make it grow much bigger.He also said that he took over the account as Steven Becket left. He then opened trades with position sizes of 50/80 lots which a 89K account cannot sustain. Within seconds he was closing trades with loss. I asked him what are you doing and said not to worry. Next day morning my time I woke up and saw my account with a huge loss. I tried contacting this account manager but no reply. He lost all my money by afternoon. All 89K lost. Could not contact him anyway after.

After a few days got hold of him after acting like a different person and he apologized for the loss and asked me to invest another 20K. I refused and told him NO.

Then after a few weeks a new account manager called Dan Sitbon called me and said Neto trade was investigating Steven for ruining my account and asked me to invest 2K and that he will make 12K for me in 2 weeks and recover my initial investment. He said that he has a team of 12 experts who has insider information on the markets and have several clients in France which is his terriroty.

I thought that this guy is genuine (my stupidity) and he said that the company is now with a new management and put some terms and conditions where the max loss should be 400USD. If the loss is beyond this my money should be refunded. He said no problem and lost all my money once again in less than 24hrs. I was furious. I contacted him and he apologized which I think is a standard term they used and asked to invest again.

Now a few days ago another account manager called Alexander called me and said that he is from the US and wanted me to invest 10K again and that all losses will be recovered. He was also mentioning that Dan is a bum and does not know anything about forex and now in customer service. I said a big NO THANK YOU.

Please know that Neto Trade is a big scam and they will go all the way to make you deposit money and they know nothing of the market. They just fool you. BE CAREFUL and do not trade with them and I am asking them to refund my money to which they even don’t reply. I am also worried because they have my passport copy,photo ID and CC information.

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    Top Broker!
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    Free Trading Education!
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    Big Sign-up Bonus!

  • BINOMO
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    Perfect For Experienced Traders!

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