Options Trade Fx Review: Learn More About This Broker
Options Trade Fx Review, there are clear signs that the broker is suspicious. For example, the website constantly pops up messages with information about customers who have withdrawn large winnings.
According to the website’s homepage, there are two companies behind the Options Trade Fx broker brand, one that is incorporated offshore in Seychelles and the other regulated by Cyprus Securities and Exchange Commission (CySEC).
And of course, those licenses they have stated they own from CySEC are a complete lie. It actually belongs to another company that is really regulated.
So with no further ado, let’s dive into this Options Trade Fx broker review where we will shine more light on this investment scam that is trying to make itself look legit.
Also, we recommend you not to invest in the fraudulent brokers FxmyTrades, Virtual Fxtrade, and Futurebotstrade.
Options Trade Fx Funds Safety and Regulation
In order to fool people, scam and fraudulent brokers also claim to be licensed and regulated and this is exactly what Options Trade Fx tries to pull. It has made a lot of regulatory claims on its website.
It first states that it is based in Seychelles and is regulated by its FSA. Secondly, it also claims to be regulated and licensed as TopFX Ltd. by CySEC.
While there is no mention of Options Trade Fx or any other company related to it in the registers of the FSA, you will certainly find a Cypriot company by the name of TopFX Ltd.
But, what is telling is that the email, phone number, and even domain did not match that of Options Trade Fx. This indicates that the brokerage is lying about something as important as regulatory information and no legitimate broker would ever do that.
Options Trade Fx Trading Platform
The most vital feature of an online broker is their trading platform because it has to be used for trade execution. This means it needs to be up to the mark to help you have a seamless trading experience.
Considering the big claims that Options Trade Fx makes, you would expect it to offer an advanced and capable trading platform, but you are in for a surprise. This is because Optionstradefx does not appear to have a trading platform at all. The only thing you will find on its website is a chart that tracks markets, which you can find on the internet for free.
Account Types Offered
|Broker||Options Trade Fx||FXTM||OctaFX||FPMarkets||XM Broker||HFM||FBS Broker|
They offer the following account types:
- VIP Luxury
- Silver Platinum
- Gold Platinum
- VIP Gold Platinum
- Gold Luxury Platinum
Even though they have this many accounts, they still failed to provide a demo account.
Funding Methods Available
Many fraudulent brokers such as Options Trade Fx scam offer deposit methods only via cryptocurrencies, to be precise they offer Bitcoin and Ethereum.
Crypto transactions are irreversible, which means there can be no refunds and there is also the anonymity that works in their favor. Genuine brokers will always offer other payment options along with crypto.
Unregulated Brokerage Techniques
Investment scams can differ, but in most cases, the fraudulent scheme is practically carried out in the same manner. They all lurk for the personal information people left on online ads and once they come in possession of it, the constant emails and calls will start.
Scam brokers are always unregulated but often claim to be or are just registered somewhere offshore, which helps them remain anonymous. If you open an account with such an entity, you should expect endless phone calls.
Scammers will constantly try to approach you and make you deposit money as quickly as possible. Remember that urgency is always a bad sign, so it’s probably a scam if someone calls you twenty times per day, asking for money.
Keep in mind that even if the broker claims to have a license, as this one does, the regulation numbers they provided can be fake and need to be checked as well.
Best Foreign Exchange Brokers
Deciding on a broker you want to start trading with isn’t an easy decision to make. It’s important to do proper research before investing your money anywhere. but sometimes it can be hard to find reliable information online.
With that in mind, we have created the table below where you can find useful information such as the minimum deposit and rating. These brokers are also user recommended and haven’t violated any terms and conditions as Options Trade Fx did.
|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|
Options Trade Fx Summary
We conducted this broker review to show you how shady they actually are. Not only are they lacking some of the most basic information such as an address they operate from or phone number, but they also failed to provide any necessary legal documents.
The next red flag you should be aware of is the fact that they falsely claim to be regulated by CySEC but this couldn’t be further from the truth.
We can confidently say that this illicit broker can’t be trusted, and if you decide to invest with them your money will just be pocketed and never actually traded.
That’s why it’s best to stay away from them and find a regulated broker to work with. Also, always read the reviews.
FAQs About Options Trade Fx Broker
Is Options Trade Fx Legally Registered?
No, Options Trade Fx is not legally registered even though they claim to be so by CySEC.
How Secure is an Options Trade Fx Broker?
This scam broker is not at all a secure nor a good option for investing.
Do Options Trade Fx Have Hidden Fees for Withdrawal?
Unfortunately, we could not find the exact information regarding their additional fees, but we do believe they have many.