Do you want to trade on Option Trade Live FX Reviews? Here is why this broker Opttradelivefx.com is a scam! See reviews to find all about it.
This post promises to share helpful review to support clients/traders in making the right decision. Kindly read to the end and make your verdict.
What is Option Trade Live FX?
Option Trade Live FX otherwise known as Opttradelivefx.com is an offshore brokerage with a lot of promises for forex traders. The forex company claims to offer crypto investment services to their clients.
Furthemore, the brokerage promises different instruments like forex, stocks, commodities, crypto, bonds and indices. Also, it presents a zero spread difference in Buy/Sell.
What We Discovered about Opttradelivefx.com Regulation
First of, Opttradelivefx.com openly claims to be registered in the UK and posts an address.
In clear the suspicions, a check of the records of the local Financial Conduct Authority (FCA) confirms that Option Trade Live FX does not hold any legal license with UK’s authority.
Again, the broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are drawbacks for forex traders/ clients to avoid losing money with scam brokers lurking online. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Does Option Trade Live FX Have Account Types?
Option Trade Live FX offers variety of trading account for clients like Fixed, Standard and ECN. According to the website descriptions, the broker offers spread of 3 pips and leverage capped 1:1000.
Option Trade Live FX does not mention its minimum deposit.
In contrast, you should better stay with a legitimate broker that clearly spells out its regulation and license credibility with no string of fraud, and clients can start trading as low as $100 with the assurance of their trading funds.
The broker withdrawal leaves us with no specific information on withdrawal fee nor processing days on withdrawal request. The broker provides no clear description on trade requirements that must be met before a withdrawal.
As for the funding methods, Option Trade Live FX also does not provide its payment methods.
Just so you know, offshore brokers are commonly known for accepting crypto currencies. For this purpose, payments made through this method are anonymous and can only be traced to a wallet address and not to a specific person. So beware!
Option Trade Live FX Provides What Trading Software?
Option Trade Live FX claims to offer industry trading standard MT4/MT5. Unfortunately, you couldn’t preview or download the software and our attempt to register was also unsuccessful.
Why use forex brokers with advanced trader like MT4/MT5? You are certain to have the best features of real-time quotes, financial news and various FX and stock charts, as well as algorithmic trading sessions with the help of specially designed trading bots, called Expert Advisors.
Honestly, we say don’t consider doing trading with an unregulated forex broker like this one because you stand the chance of losing your money.
Option Trade Live FX Licensing and Regulation
Like in any corporation, integrity is a key to uphold these days. It doesn’t matter if you make a lot of money but you can’t take it out. That is to say, exactly what is happening with non-licensed companies.
Having said that, it is not far from believing that opttradelivefx.com is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
Option Trade Live FX located at Opttradelivefx.com appears like a genuine trading broker, however, you should not take the words they say and the attractive website layout. By all appearances, we would advise traders to steer clear from unlicensed brokers as they likely a platform run by scammers. Thus, we urge our readers to rely on regulated brokers like this or any licensed entity.
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