Optimize Funds, with the growing trend of online trading, there is an increased prevalence of cyber fraud. This Optimize Funds review analyzes one of many shady brokerage services to help you minimize the risk of an investment scam.
From the moment of accessing the Optimize Funds webpage, a layperson would be amazed by the compelling offer of this agency supported by a ten-year-long experience, lots of awards, and a well-designed and informative website.
However, when we dive deep into information about the company, it appears to be all smoke and mirrors. Please proceed with our Optimize Funds broker review to get revealing insights into scam brokers.
|Company||Optimize Funds (holding company Asterisk Group LLC)|
|Address||Saint Vincent and the Grenadines|
|[email protected], [email protected], [email protected], [email protected]|
|Minimum Deposit||250 EUR|
|Bonuses||Yes (10% to 25%)|
|Warning||CONSOB, CNMV, Finanstilsynet|
Regulation and Funds Security at Optimize Funds
Although Optimize Funds claims it provides outstanding terms of exchanges embodied in low spreads, zero fees, and high leverage, it’s nothing but embellishing the truth. Giving misleading information has the ultimate goal of persuading you to invest.
This organization has jurisdiction in Saint Vincent and the Grenadines (Asterisk Group LLC), but it doesn’t hold any licenses. Being an offshore-based, unregulated business arouses suspicions since it’s difficult to trace such entities when the chips are down.
But why is it essential to be a licensed agency anyway? First of all, brokerage companies operating without proper regulations violate the legislations of a heavily controlled industry, which means they can’t be trusted and have dishonest intentions.
To become an approved broker, a firm must meet and maintain a set of specific criteria that is in place to protect investors against threats such as financial loss and malicious tactics. Your funds are not safe with Optimize Funds.
Thus, the smartest thing is to stick with reputable forex providers authorized by top-tier financial market regulators that will protect your equity and allow you to make viable profits.
In addition, Asterisk Group LLC/Optimize Funds is blacklisted by several authorities, most notably, Italian CONSOB, Spanish CNMV, and the Financial Supervisory Authority of Norway (Finanstilsynet).
Trading Software Offered by Optimize Funds
In an online trading community, it’s widely known that the best trading platforms are MetaTrader4 and its enhanced successor, MetaTrader5.
Both trading programs come with plenty of trading tools, enabling you excellent trading experience.
Any respected brokerage should provide its customers with at least MT4 while leading trading corporations have already upgraded to MT5.
Optimize Funds offers unproven and second-rate trading software that can’t yield successful outcomes—another reason for keeping clear of this illegal firm.
Procedures for Deposit and Withdrawal with Optimize Funds
Regarding funding methods, Optimize Funds accepts limited means of payment that includes credit/debit cards and Bitcoins.
As for trading accounts, the following options are on offer:
- Cent Account 250 EUR min deposit
- Pro Account 2,500 EUR min deposit
- Pro+ Account 25,000 EUR min deposit
- Luxury Account 250,000 min deposit
Comparing these prices to trustworthy enterprises, you’ll find them costly. For example, reliable companies offer account openings for as low as 1 USD. Likewise, no demo account option is available with Optimize Funds.
Demo account holders can practice trading safely and free of charge; it’s a must-have feature of every genuine broker these days.
Since Optimize Funds is exposed as a financial swindler, you most likely won’t be able to withdraw your money if you drop the ball and invest in trading with these fraudsters.
Optimize Funds Offers Bonuses
Despite bonuses and promotions are not permitted, the broker offers them, indicating bogus business. Namely, this brokerage provides “the best bonuses in the industry,” as per its statement, including the following ones.
- First deposit: a 10% welcome bonus for new clients making first-time opening balances.
- Awarding bonus: a 15% referral bonus for bringing your friend to open a trading account.
- Upgrade bonus: a 20% bonus if you upgrade your account.
- Transfer bonus: a 25% bonus when you transfer your funds to this broker from another company.
Bonuses are forbidden since companies like Optimize Funds abuse them, using them to chisel money out of traders.
The Fraud Is Perpetrated In This Manner.
This phony broker is associated with negative reviews and withdrawal complaints. That’s to say, once you invest your money in trading with this broker, these con artists will skillfully try to evade allowing you to withdraw funds.
Scammers like this brokerage entice traders by offering bonuses and promotions banned by the EU and top financial supervision authorities due to misuse.
The broker offers conditional bonuses, which means you must always meet some impossible-to-achieve clausula to receive a prize.
Withdrawals rely on hefty mandatory fees only revealed when you request withdrawing; absurdly, this commission must be paid in advance, regardless of the payoff time, which makes no sense.
Ungoverned business means the firm may change its terms anytime they want, always at customers’ expense. Ergo, for your financial safety, never trade with Optimize Funds.
Forex Brokers that Strongly Recommend
In place of taking chances with this broker, trading with the following legitimate forex brokers is the safest bet for generating earnings. Take a look.
|FXTM Broker||Cyprus, UK, Kenya, Mauritius||4.5||$10 USD||Forextime.com|
|OctaFX Broker||St. Vincent and the Grenadines, Cyprus||4.4||$100 USD||Octafx.com|
|FP Markets Broker||Australia, Cyprus, SVG||4.7||$100 AUD||FpMarkets.com|
|XM Broker||Cyprus, Australia, Belize, United Arab Emirates||4.7||$5 USD||Xm.com|
|HFM HF Markets Broker||Saint Vincent and the Grenadines, Cyprus, South Africa||4.3||$5 USD||Hfeu.com|
|FBS Broker||Cyprus, Australia, Belize||4.85||$1 USD||Fbs.eu|
Optimize Funds Summary
To wrap it up, Optimize Funds is an offshore organization operating anonymously out of Saint Vincent and the Grenadines. It’s an unlicensed broker having all aspects of a fraudulent business.
The company just can’t cut the mustard because of a lack of funds protection (no segregated accounts, no negative balance protection) and a lack of favorable trading conditions (expensive account opening, withdrawal issues, and inadequate trading platform).
The final hint refrains from trading with this forex provider and go for the recommended brokerage in this article.
FAQs About Optimize Funds Broker
What Is The Minimum Deposit at Optimize Funds?
The broker requires a 250 EUR minimal deposit, which is far above industry standards.
What Payment Options Does Optimize Funds Accept?
Optimize Funds accepts limited means of payments like credit/debit cards and cryptocurrency (BTC).
What Kinds of Platforms for Trading Does Optimize Funds Offer?
Instead of providing industry-proven trading platforms like MT4 and MT5, Optimize Funds offers its suboptimal internet-based trading software.