Optionfx.trade Review Is OptionFX Legit or Scam

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Optionfx.trade Review: Is OptionFX Legit or Scam?

After doing some research, we found out that a lot of traders are reporting OptionFX and writting bad reviews about it.
It seems like they are not happy about it and they warn others not to trade with them.

It’s always important to know what other traders are thiking about a broker before using it and we can say that they are not saying good things about OptionFX.

What do regulators say about OptionFX ?

This is the most important thing you need to know about a broker before using it. Is OptionFX regulated ? Is it an offshore company ?

Most brokers are unregulated or regulated by an offshore regulation authority which won’t help you in case of problem. Keep in mind that if a broker steal your funds, you won’t be able to complaint about it unless they are licensed by a serious regulator such as the CySEC (Cyprus Securities and Exchange Commission).

An unregulated broker is clearly not authorized to operate in any regulated country and you should definitely not put any money into it.

OptionFX is an unregulated offshore broker owned by Option Four Ltd and located at Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960.

They can be contacted by phone at this number : +442038076854 or you can send an email to [email protected]

You should definitely avoid any unregulated or offshore broker and OptionFX is one of them.

Have you been Scammed by OptionFX ?

Have you been victim of this company ? Did you lose money with them ? Everyone does mistakes. Don’t worry, you are not alone, and we are here to help you.

Our team of experts is available 24/7 in order to help you recovering your hard-earned money.
After asking you some questions, they will be able to build a chargeback case to fight the broker and get your money back as soon as possible.

Chargeback is the solution

As we said before, the good news is that there is a solution and it’s called a Chargeback.
But what is a Chargeback ?
A Chargeback is the retroactive cancellation and refund of a charge made using your credit card.

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Optionfx.trade Review: Is OptionFX Legit or Scam?

OptionFX Review: this is the name of a Forex and CFD brokerage that is based in the Marshall Islands. Is Optionfx.trade a scam Forex broker? Since this is an offshore based brokerage, funds safety is not assured. Find out more about this company.

The most vital part of our reviews is the uncovering of if a company or Forex broker is properly licensed or not. To do this, we first establish the location or region where it claims to be based. Then we check with the commission or authority regulating trade there whether it is listed among regulated companies or not.

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OptionFX mentions at the tail bottom of the page that it is located in Marshall Islands which is an offshore location. Forex trading goes on without proper regulation in this kind of location making it a choice base for scam companies. Trading with a Forex broker that is unlicensed pose many dangers to traders’ funds. Misappropriated funds may not be recoverable by the government as well.

Unlicensed brokerages are not under any rules of traders and this puts traders in more risk than they will be in if they had chosen properly licensed ones.

Advantages of OptionFX

The page boasts that the broker is the first choice of every investor and offers lots of major trading assets to their clients. At lower cost, traders are promised higher revenue. A highly qualified customer support is also proffered. Finances are said to be secure but we cannot be certain of this given the location of the brokerage.

It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

OptionFX Trading Platform

There is no mention of the kind of trading platform made available to clients on the website. We advise readers and traders to always look out for the MT4 or MT5 platforms. The MetaTrader platforms are commonly used because they allow the use of trading robots.

Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.

Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.

Trading instruments offered to traders are CFDs on lots of commodities, crypto trading, and forex currency pairs. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

Maximum leverage offered to clients is Maximum leverage offered to clients is not disclosed. We find this an important detail because high leverages may be generous but are dangerous as they may lead to loss of more funds. Spreads is not mentioned also on the EURUSD pairs.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on OptionFX

The means of funding accounts and making withdrawals with this company are: MasterCard, American Express, Bank wire transfer, Skrill, PayPal, and Neteller. The fact that some e-wallets are allowed is encouraging.

This is because standard and legit brokers make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on.

Minimum deposit required is $200 and this is within the obtainable of average of $100 to $250 that is common among legit brokers. Withdrawal fees of 1% of the amount (minimum of $30) is applicable and a dormant fee of 1% of the balance (minimum of $30) is charged as well.

Trading bonuses are offered to all clients on deposits. This is a red flag because when a shady broker offers a bonus, it usually attaches some unfair withdrawal conditions to it. This makes it close to impossible to take out invested funds.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Is OptionFX Licensed?

No. OptionFX is not a properly licensed and registered broker. Even if anyone comes across a mention of licensing from this firm, so long as it is based in the offshore location, it is not likely to be a trustworthy one.

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

Support

To contact the broker or speak to a representative of the customer support, interested clients are to dial: +44 20 380 76854 or send an email to: [email protected]

Conclusion

We give OptionFX a low rating because it is unlicensed. Also, the fact that there are withdrawal fees, dormancy penalty and shady trading bonus offers, also makes us not recommend it to our readers. If you have anything to say about this broker, do so in the comment section.

COMPARE WITH A TRUSTED BROKER

Fortrade

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

OptionFX Review

OptionFX is an unlicensed Forex and CFD broker owned and operated by Option Four Ltd, an offshore company based on the Marshall Islands.

optionfx.trade is considered not safe, as it is not regulated by top-tier financial authorities, like the CySEC in Europe, UK FCA and the Australian ASIC.

OptionFX Review

OptionFX is an offshore forex and |CFD broker that says to be offering over 1000 assets, including forex pairs, precious metals, indices, stocks and crypt currencies with a web based trading platform and trading bonuses.

OptionFX says they will charge you a 1% withdraw fee (minimum 30 USD), on top of a 1% (again minimum 30 USD) dormant fee, if you have not traded for just 30 days. We should note that this is highly unusual. Bear in mind that legit brokers do not charge withdraw fees, while dormant fees might be applied only after a year of inactivity.

Also be aware that OptionFX says they will process your withdraw request within 7 business days, while legit brokers will do that within 24 hours.

Market Maker Business Model

During our review of the OptionFX broker, we saw that they operate the market maker business model, which basically means they make money, whenever traders lose. And that would not have been a problem, if they were not offering certain investment services, as for example portfolio management and investment advice.

Obviously, if market makers manage your account, they will surely be in a conflict of interest, because they will have the incentive to lose your money for themselves.

OptionFX License

Here at the Scam Expert Advisor, we have reviews of many Forex brokers and trading software. The number one item we check when reviewing a broker to see if they are a scam is a valid license.

The reason smart people online invest with a licensed broker, is because there are many investment scams online. By using a licensed and regulated broker, you know your money is safe, and the company is monitored by the governments regulators.

  • OptionFX operated by Option Four Ltd is an offshore broker not a licensed broker.

Bear in mind that proper regulation is the sole factor that will guarantee the safety of your funds. Brokers, regulated in the EU by the British Financial Conduct Authority (FCA) or the Cyprus Securities and Exchange Commission (CySEC) are required to follow strict financial and ethical rules, among which to maintain a minimum operational capital of no less than 730 000 EUR, to keep all clients funds separately, in a segregated, protected from creditors, trust account, to grant a negative balance protection, meaning that traders will not be losing more money than what they have invested, to file regular reports, to allow external audits, and even to insure some of the trading capital.

Thus with a FCA regulated broker for example, your funds will be covered by an insurance policy of up to 85 000 GBP.

You need to use creative and dependable brokers to become a successful trader. Go for brokers who have a proven reputation and are reliable. Industry backed brokers are a fine match to any investor looking to trade. Make money the right way using the right Forex trading experts. Time to make money is now with industry leading and tested Forex brokers. What are you waiting for? Sign up with one today.

Review Verdict – OptionFX is a Scam!!

Blacklisted website = optionfx.trade.com

Our best advise for you

After looking at all the evidence we have, it is clear OptionFX is a scam. Stay away from any of their affiliate programs and warn your family and friends. These are anonymous scam artists who can sweep clean your bank account.

By adding this broker to our scam blacklist, we will be exposing OptionFX dirty tricks. Stay away from these scam artists and ignore all calls to sign up.

Dealing with accountable and accurate Forex robot is the right move. Go for Forex signals tasked with providing straight signals. What are you waiting for? Sign up with credible and tested binary options signal providers.

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