Optimal Trade Review – Stay Away From OptimalTradersFX.Com
Optimal Trade is a broker that presented itself on its website as having its headquarters in New York. This broker’s website is currently down, but we’ll let you know what we came up with during our research.
In addition, the company described itself as an award-winning platform for investment and bitcoin exchange. Of course, if the brokerage were that successful, its website would still be working. The problem is that this scam broker can’t offer anything they have listed as part of their offer.
Even the trading platform was non-functional. Although the company stated that it was regulated, we found that information to be false, like everything else together that is a part of a scam perpetrated by Optimal Trade.
Read our Optimal Trade review to the end and familiarize yourself with the elements of the broker’s offer that can help you to clearly see whether it is a scam or not.
On the contrary, you should avoid dealing with questionable brokers like Profitly Trade, Insta Markets, and Ranytrade.
|Address||4132, Thornridge City, New York USA|
Is Optimal Trade Safe? License and Safety
As we said before, Optimal Trade lists New York as its headquarters, but we can’t trust that information. In order for Optimal Trade to enter the market in the United States with its financial offer, it must be regulated by the US Commodity Futures Trading Commission (CFTC).
What Optimal Trade says about its regulation is that it is licensed in Malta, Labuan – Malaysia, Vanuatu, and the British Virgin Islands, by the Malta Financial Service Authority (MFSA), the Labuan Financial Service Authority (Labuan FSA), the Vanuatu Financial Services Commission (VFSC), and the British Virgin Islands Financial Services Commission (BVIFSC).
In order to determine whether and which of these licenses is actually owned by Optimal Trade, we checked the registers of all the listed regulatory bodies that issue licenses. It turned out that Optimal Trade does not own any of the listed licenses, that is, the company under this name is not in any register or regulatory body.
Trading Software Overview
Optimal Trade presented its trading software as a modern platform that provides an excellent trading experience. What we have come to is that it is an ordinary web platform that is not functional at all.
All we found was the TradingView chart, which can be accessed completely free on the internet.
When we established that there is no platform, it is clear that there is no trading either. This means that investing with Optimal Trade is a total waste of time.
While most regulated brokers do their best to improve the platforms they offer to clients, fraudsters often lie about owning trading software at all.
Deposit and Withdrawal Method
As stated on the website, Optimal Trade accepted deposit methods such as wire transfers, Western Union, PayPal, and payments in cryptocurrencies via crypto-wallets (Bitcoin, Ethereum, Tether).
When we checked how depositing works, it turned out that the broker must be contacted in case you make the payment in cash, especially when you do not use cryptocurrencies. Most fraudsters resort to methods involving cryptocurrencies, as these transactions are hard to track and reverse.
Thus, for users, their investment becomes irreversible, and the broker completely succeeds in his fraud.
The minimum deposit at Optimal Trade is $500, which is too much when we look at the average minimum deposit in the market. This scam broker is not worth any discussion let alone investing your money with them.
How the Scam Was Performed
Optimal Trade carried out its fraud according to a scheme used by most fraudulent brokers. Apart from the fact that the company is falsely presented on the website as one of the best, with which fraudsters try to attract users, it often happens that such brokers contact clients directly via mail or social networks.
After presenting the customer with their amazing offer, they try to extract as many deposits as possible.
Since Optimal Trade probably only required transactions in cryptocurrencies, users could not withdraw money or cancel the transaction, and they had no one to complain to because there is no regulatory body overseeing this fraudulent broker.
Currently, the Optimal Trade website is down, which means that a lot of users have probably lost their money. That’s why you should be careful where you invest your time and money.
Forex Brokers Suggested
We have prepared for you a recommendation of regulated brokers where all business segments are in place. In the table below the text, there is a list of well-rated brokers. All of which are regulated by regulatory bodies.
They have good trading platforms that offer a pleasant trading experience. In addition, the terms of business are adapted to the clients, so that you will not be surprised by sudden fees. You can trade safely and securely, not worrying about your personal information or your funds because you will always be able to withdraw them.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
Optimal Trade Summary
Although the broker website is currently unavailable, we do not know if it is temporarily or permanently down. All in all, we warn you not to do business and not invest money with this fraudulent broker.
Regarding all the questions that should be used to choose a brokerage house with which you will invest, this broker does not meet a single requirement. It is an unregulated company that does not have a functional trading platform, and there are no clearly indicated conditions under which it operates.
Deposit methods are limited, and the minimum deposit is too high. We cannot recommend Optimal Trade to you, that is, we advise you to bypass this broker if it contacts you through an email address or social networks. Don’t fall for it, you will run out of money.
FAQs About Optimal Trade Broker
Is My Money Safe with Optimal Trade?
Your money is certainly not safe with this unscrupulous broker.
Does Optimal Trade Offer a Demo Account?
We were unable to find out whether Optimal Trade offers a demo account since their website is currently down.
How Long Does it Take to Withdraw from Optimal Trade?
Detailed withdrawal information was not made available to the public.