Fx Option Trade Review: How did Broker Earn a Reputation as a Scammer

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Fx Option Trade presents itself as an online broker, a cryptocurrency expert trusted by traders around the world. 

Fx Option Trade Review: How did Broker Earn a Reputation as a Scammer review

Very interesting information, if we note that not a single browser (Google, Yahoo, Yandex) mentions the name of this so-called world-famous broker. There is only its website. Nothing else. It looks like a scam by scammers. Moreover, if the company works with representatives of different countries, why is the site offered only in English? Strange broker. Let's look into it.

The company offers trading services to work with assets such as cryptocurrency. The site, As you know, the site is the "face" of the company. It would seem that everything on the site is simple and clear, but there is always a "but".  From the first seconds of use of the site causes irritation. Regularly, each time you go to any of the pages / sections of the text closes a pop-up window. 

Fx Option Trade Review: How did Broker Earn a Reputation as a Scammer news

It appears again and again even when you clicked "Ok". 

This is inconvenient and very annoying, but it could be left unnoticed if the content, i.e., the information presented on the official site corresponded to reality, was honest. However, as can be seen, the deception began on the main page.

Types of trading accounts offered by Fx Option Trade 

Not everything is going smoothly with the information about the trading accounts on the website. At Fx Option Trade they are called Pricing Plans

There are no direct and detailed explanations about the set of accounts, for example. It would seem that the data on the packages is indicated graphically with all the major positions marked. 

You can see the name of the package and the cost of the "admission ticket", i.e. the price of opening each account. The broker offers a minimum fee of $500 and the highest is $5,000.

There is no more information. It seems that the scammer has chosen such an approach purposely in order not to "overload" inexperienced traders with details, enticing them with simple and graphical presentation of brief information.  As a result, the novice user does not understand what he is getting into and, as a result, is often left cheated and without money.

For example, what is the difference between the cheapest and the most expensive plan?

The contract period in the "Starter" and "Silver" packages is 5 days. For investors of packages "Gold" and "Platinum" contact duration is 7 days long.

Depending on the choice of package, the daily percentage of increase changes (2.5%-7%).

There are no other (extended) offers. What else the broker promises to each trader:  

  • 24/7 customer support.
  • trading alerts;
  • trading central Basic.

Doubtful benefits for the amount of money an investor deposits at the start of trading operations. These are the traditional "must have" services that every broker provides.

On the whole, there is definitely not enough information. Especially for beginners in the field of trading. And even more so on the platform of such an unregulated market as cryptocurrency trading. 

Fx Option Trade Trading conditions

Fx Option Trade emphasizes the fact that it does not use a dealing center and it is an STP broker. In fact, most brokers are STPs. This information may attract only those who are making their first steps in learning trading, but definitely not an experienced trader.

Let's go further to understand what trading conditions broker Fx Option Trade offers to work. Again, the same picture: no information. All phrases are "general", without any details.

It may be expected that not full information will attract the attention of those users who decide to start trading for the first time and become a part of the crypto market. 

The only thing that the broker mentions on his website (and not in the main information sections, but in the column (question/answer)) is about the payment methods.

Having only such data, it is difficult to understand how much one should invest so that the result meets the trader's expectations and the investment with Fx Option Trade broker will bring him profit.

Also, when asked about the timing of the withdrawal of funds, we get such an answer from the broker:

The answer seems to be received, but the information is still missing. Only cheaters can't give a direct and exact answer to a certain question. Or at least designate the withdrawal period. 

Looking ahead we want to emphasize that such a vague description of the conditions, lack of details and basic data are unlikely to be interesting even for beginners. However, regardless of experience in trading, every phrase of the broker should already cause fear that an investment with such a broker will only bring disappointment and losses.

Fx Option Trade Licenses

The website informs that the broker has been offering its services to traders for 5 years.  

However, we do not believe our word, especially as we have already caught Fx Option Trade in deception, so, with the help of WhoIs service first of all we check when the domain of the site where the broker offers its services was registered.

What does it turn out to be? A world-known and highly demanded broker (by his own estimation) all this time worked without a site?  

It is strange, isn't it? But even the registration of the official website 6 months ago did not add to zero any mention of the company on the Internet.

Does Fx Option Trade operate legally? 

There is mention of licenses. But only in words. 

If the company works with traders on the terms of honesty and transparency, screenshots of the documents must be indicated on the broker's website. Otherwise, the user will not see anything. Exactly like the situation with the Fx Option Trade scammer. This is what scammers do, who are not interested in the user seeing the identification number of the license, as well as the data of the regulator who checked the broker. 

According to the information of the broker, which is already provided in another section of the website, the company operates under the licenses of the FCA USA, SySEC South Africa`s FSCA.

However, we decided not to take "our word for it" and make a deeper analysis and run the name Fx Option Trade through various regulatory bodies and find out if the company is really regulated.

We started with a check on the site of FINRA, one of the most reliable regulators in the United States. It is on the website of the regulator that you can check your stock (or any other) broker, which works on the American stock market for a license. This will allow you to understand how reliable he is and whether it is worth cooperating with him at all, trusting your money and potential financial gain.

What do we get?

In principle, this answer was expected.

Since we got no information, we checked the mentioning of Fx Option Trade on the websites of other regulators, mentioned by the broker...

The search returns the same result as it did the first time: there is no information about Fx Option Trade broker's licensing. I.e. to the question: Does the company have the license? The answer is unambiguous: NO. The scammer Fx Option Trade has no basic document.

Moreover, while most scammers do not even mention documents, the swindler Fx Option Trade cynically indicates the regulator, the month and the year when he has allegedly passed the inspection and received the document.

Fx Option Trade reviews online

As we said before, there is absolutely no mention of a broker with that name on the Internet. The same applies to the reviews.

What conclusions can we draw up? Either the broker does not work at all, or it used to work under a different name, with a different domain. Again, if the company has a positive reputation, it is interested to maintain it and be able to prove the loyal attitude of its customers. And what we see with respect to Fx Option Trade from all sides indicates data fraud, providing false information. The usual and, alas, widespread practice of deception in the field of trading. Especially at the sites when working with relatively new types of assets - cryptocurrencies.

Most often, in this case, the scammer receives the first installment from the trader and disappears for a long time, but then, after a while, as if nothing had happened, offers to participate in the auction again, promising the "mountain of gold". 

Even if the trader trusts him again and decides to invest the money again, he will still fail to make any profit. Often it becomes impossible to withdraw even what is on the account. As we have already mentioned above, the broker himself does not give any clear information about the withdrawal of funds. It seems that not a single trader reaches this stage.

After a certain number of deceived clients, the scammers register a new domain and already "process" new traders, presenting themselves as a broker with an absolutely "clean" past, with no negative feedback from users.

Safety and security of funds Fx Option Trade 

The broker attracts visitors by emphasizing the fact that the company guarantees first-class protection to each of its clients.

Here again we are faced with unsubstantiated promises. What is the security of trading operations with the broker, what exactly he is ready to do to provide traders with reliable trading? Not a word about that either.

As in every point mentioned on the website, the most evident visual problem of Fx Option Trade is the absolute lack of informativeness on the broker's part. 

Not only is there a lack of information, but there is also a lack of consistency in the data provided. It seems that we have to deal with dilettantes who are not only unable to show the real work, but try to cheat even in small things by providing false data. It is scary to trust money to such scammers.

By stating that he works in the USA, the scammer does not give his full address. 

Overall, Fx Option Trade looks like a ghost company. The website, i.e. the shell is there, but nothing else, no one has seen it: neither the regulator, nor the traders.

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Summary 

Fx Option Trade is a common fraudster who tries to take traders' money by swindle. The conclusion is that the broker has something to hide. He deliberately does not give reliable information and misleads users, swindling their money.

Maybe in the future something will change, but today you should not get in touch with the broker Fx Option Trade and then your money will be safe.

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