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TradersFXOption.com is one of those brokers that within a single looks you will know for sure what to expect. And as expected, we came to the conclusion that we had to. First off, the very bad website is one of the early red flags that we have for you, and well.. just look at it. Although, it may looks at times ok at best, we think that only very inexperienced users of the intetnet as a whole can fall for it. The reviwe talks of the other side of the broker.
For, one, there are no regulatory details revealed anywhere. The broker does not reveal anything about itself, not even a simple address line or even a false regulatory detail. No, TradersFXOption.com has entered full-on into anonymous mode.
For us, anonymous brokers are the worst kind for two simple reasons. One, the user does not know where his or her investments end up. And second, without an address and license the broker automatically can be dubbed a scam and unlicensed.
On top of all this, TradersFXOption.com has also neglected the inclusion of any legal docs, which is proof that it really is beyond legal and cannot be saved.
To state the obvious: TradersFXOption.com is unregulated and a risk to all!
Investing in unregulated brokers is the digital equivalent of throwing your money away for the wind to disperse it. It’s obvious that no one would do such a thing. Go with brokers that are regulated by trustworthy organizations like the FCA or CySEC. These entities work closely with the law, enforce it when called for, and have strict requirements for those under their gaze. Not to mention that those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC).
After an easy registration, we were greeted to a very sloppy and inadequate user area, that reminded us with what scammer entity we were dealing with. Everything about it was fraudulent.
But perhaps the biggest scammer element, was that there was an obvious lack of a trading software. Without one, TradersFXOption.com cannot be taken seriously, and is actually not an FX broker, but a scam!
There are no applicable trading conditions here; no spreads, no leverages, and no tradeable assets.
Instead of a trading software the broker has include the infamous investment plans, or also knowns as packages.
Investment packages are basically the very essential elements of the unregulated broker. They are basically what they sound like. The user invests, expecting a profit in a few days, and then comes to realize that no such profit will ever be realized. Not to mention that these gains are incredibly unrealistic. Can you really expect to accumulate a daily profit of 15% in exchange for a $300 minimum deposit?
TRADERSFXOPTION.COM MINIMUM DEPOSIT
We just want to say that there is no reason to invest here. All deposits will be lost for sure!
From the user area, we made sure to check twice, because at first, we though it wa a joke. But after a while, no it made its appearance again. It turns out that the only way to invest in through a BTC wallet, and a very shady one at that!
The minimum deposit is $300 for the starter pack, the most basic one, but with crypto wallets, there is usually no minimum deposit requirement. However, we were not about to try this out.
DON’T PROVIDE YOUR CREDIT CARD CVV CODE
The CVV code is the one thing that separates a buyer from a product. Without it, one cannot complete a purchase, even if him/her has given all other necessary information. By giving this detail to someone else, you are essentially inviting them to use your funds for their own means. And be warned that unregulated brokers most certainly plan to do so.
DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER
Be sure to never give AnyDesk or TeamViewer access to your PC to unverified agents. These 2 platforms allow for your PC to be taken over by a second party, oftentimes for help or guidance, but in the case of these brokers for the sole purpose of looting your bank account(s) and personal information. However, in order to do so your consent is needed, and this is the only thing standing in the scammers’ way.
TRADERSFXOPTION.COM WITHDRAW TIME AND FEES
Withdrawing from any unlicensed broker, not just this one, will not be possible. Such entities will not give up their bounties so easily!
The only withdrawal details that we were able to find is that, withdrawals are processed through PayPal, BTC, and wire transfer.
With that said, consider that there are no further withdrawal details revealed at all here.
We are given no insight into any fees, or processing times, no an a minimum withdrawal requirement, nor anything like that. It's all pretty much lacking.
Beware, once more, when giving away an ID and a proof of address. Trustworthy brokers ask for these before traders can deposit to make a check up. Deceitful ones will ask for these details, using the anti-money laundering legislation as pretext, once you start asking too many questions and are getting suspicious of their activities. Understand that they will use these to build a stronger case against you in the event that you request a chargeback.
Yet again we urge readers to stay away from this broker as it will, without a doubt, never return your funds and profits. If you wish to to get smooth and efficient transactions, please visit a FCA/CySEC regulated broker, where all withdrawals are handled with care and respect.
HOW TO RECOVER
The most sound advice we could give you is to immediately file for a chargeback with you credit card company.
If you have given away your credit card details including the CVV code to the “broker” you should cancel it ASAP and check with your bank to see the damage inflicted.
Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won’t ever hear from them again.
The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!
There is no reason to waste your time and money in this scam. TradersFXOption.com is a typical unregulated entity.
TradersFXOption.com compared to other brands
United Kingdom, Cyprus, South Africa, Mauritius
Cyprus, Saint Vincent and the Grenadines