Scam broker EZTrader Honest and real review! #xBinOp!

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EZTrader

EZ Trader

  • Platform is fake
  • You won’t be able to withdraw your money

EZtrader (or EZ Trader) is a broker for binary options trading that you may already know. Unfortunately, the experiences of most people who have used this broker are not good. EZtrader is one of those typical scam brokers, something like zoomtrader.

Is EZ Trader a scam?

Yes, EZtrader is a scam for several reasons:

  • In 2020 WGM Services was fined by CySEC (the chief regulator in Cyprus) €340 000 for breaching numerous conditions (CySEC official statement)
  • Since 2020, the broker has been fined many times. Anyway. the broker doesn’t even protest as its income from this monkey business is much bigger.
  • The behaviour of the broker in terms of bonuses and withdrawals of the traders is unacceptable
  • Before any withdrawal is made the trader must place at least three trades – which violates the terms and conditions set by the regulator.
  • Before you are eligible for a withdrawal, you have to close your trading account which represents a 10% charge of the total on your account with the minimum of €100.

Sad trading history

One would expect that a broker with such a poor image cannot attract any traders. Surprisingly, the contrary is true. The statistics from an independent provider show that the broker’s web site is being visited by the same number of people as before. This means that there are people among us who continue sending money to this broker. Each month this figure represents 200 000 traders from all over the world.

Visitor statistics of EZtrader

This used to be true a while ago. However, the word must have spread out and people have stopped going to this broker, as can be seen from more recent statistics (below)

EZTrader website traffic statistics (newer)

On various discussion forums anywhere in the world you can read that even though traders do place withdrawals, it does not always happen. The broker keeps all money and sends the trader to hell or stops replying to any messages. This surely is not a way a reliable broker should behave, is it?

There are tens or even hundreds of cases like this. The bottom line is that we do not recommend that you get involved in trading with this broker. Sorry, if you are one of those who did it in the past. Anyway, send us your experience in the comments section and we will surely work something out.

EZ Trader Pros

  • Good looking platform.

EZ Trader Cons

  • Platform is fake
  • You won’t be able to withdraw your money

EZ Trader – Review author

More about the author Step

I’ve wanted to build a business of some kind and earn money since I was in middle school. I wasn’t very successful though until my senior year in highschool, when I finally started to think about doing online business. Nowadays I profitably trade binary options full-time and thus gladly share my experiences with you. More posts by this author

EZ Trader Details

✅ Broker EZ Trader
✅ Website URL www.eztrader.com
✅ Founded 2020
✅ Languages English
✅ Minimum 1st Deposit $ 200
✅ Free Demo Account
✅ US Traders Allowed
✅ Mobile Trading
✅ Tablet Trading
✅ Overall Score We don’t recommend trading with this broker.

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11 Responses to “EZTrader”

Don’t get scammed by CFDS100 they are con artists ..My bank said they are a scam, they just pretend to trade the market.

Hello, thank you for sharing this tip! I hope that the people will read this and be aware of this broker.

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EZTrader Review

EZTrader was a binary options broker owned by WGM Services Ltd., a subsidiary of publicly traded EZTD Inc, see here. Their main office is located at 11 Vizantiou Street, Office 401, Strovolos, Nicosia, Cyprus. Their phone number is: +44 203 608 1951, and email address is [email protected]

EZTrader Platform Review

EZTrader is one of the original binary option brokers. They were the first to launch binary option trading in 2008. Their trading platform is a unique custom built binary options trading platform. They offer binary options, 60 second options, daily options and weekly / monthly options. They also offer up to 95% returns on a variety of assets. They offer the standard 15 currency pairs, along with over 75 stocks, and 15 stock market indexes.

Their long term options go out as far as six months, but they are not at the money high low options. They are more similar to ladder options with far out of the month strike prices and high returns. EZTrader offers traders a mobile app called EZMobile for trading binary option from both Android & Apple device. The minimum deposit for a new account is $250.

The most popular trading signals system that people use with EZTrader is called CorrecTrade, see here.

EZTrader License

When we review a broker to determine if they are a legit broker or a scam broker it is a very simple test. Do they hold a license and are they regulated by CySEC in Cyprus?

The reason traders use a licensed broker, is because there is a regulator you can submit complaints too, see CySEC. You should also familiarize yourself with the common broker complaints here.

So is EZTrader a legitimate binary options broker or just another scam? Since they are licensed by CySEC in Cyprus, license #213/13, this makes them a legitimate binary option broker.

“ASIC urges all investors considering trading in binary options to check they are dealing with an entity that holds an Australian financial services licence or is authorised by an Australian financial services licensee and regulated by ASIC.”

News: Scam broker EZTrader has gone too far

We all know that the scam broker EZTrader is not a broker one would recommend. A lot of us know the broker’s blatant practices. However, today we have learned some news worth publishing.

EZ Trader seems to find itself in a financial pickle. The broker is losing money! The portal finance magnates has been informing about it for a few months. You may ask yourself how come this is possible. Stealing money from ordinary traders such as you and me and still losing?

It is clear: The broker owners are pretty greedy and want more and more. Therefore, they invest buckets of money into promotion. AZTrader acts (a better expression is “acted”) as a sponsor of several sports teams all over the world. Recently, most of the partnerships have been cancelled.

As anyone can imagine, such a sponsorship is not a cheap undertaking. For example, Germany’s no.1 football club Bayern Munich has received, thanks to such partnership, around USD 111 million per year. This is no doubt one of the reasons behind EZTrader going bust. Another reason is the series of penalties imposed on EZTrader.

Broker Status Withdrawals problem Scam phone calls Still in business More information
SCAM Yes Yes Yes NOT RECOMMENDED
More information

Some of the penalties imposed on EZ Trader:

  • 10 000 € by regulator CySEC in late 2020
  • A few months later, a fine of €340.000 imposed by CySEC
  • Plus a fine of USD 200.000 USD followed by a loss of USD 1 500 000 for taking on traders from the USA

I believe that after such penalties EZTraderu will not be in a good shape to continue doing its business. Most importantly, penalties do not come out of the blue! It stands to reason that EZTrader is and must be a bad and fraudulent broker, isn’t it?

The aforementioned and other reasons are behind EZTrader being sued by its own employees. Despite reducing its headcount from the original 130 people to 50, EZTrader is not healthy enough to pay salaries to all its employees. Naturally, the frustrated employees have filed a lawsuit against their employer.

For more information about EZTrader read:

Author

More about the author Step

I’ve wanted to build a business of some kind and earn money since I was in middle school. I wasn’t very successful though until my senior year in highschool, when I finally started to think about doing online business. Nowadays I profitably trade binary options full-time and thus gladly share my experiences with you. More posts by this author

9 Responses to “News: Scam broker EZTrader has gone too far”

I am a victim of a binary scam. I was ripped off by a bogus broker recently it was difficult to get a withdrawal after several attempts. I had to hire a recovery company to get my funds back.

Hello, there are many people that were scammed by unlicensed and unregulated binary provides or by some of the recent ICO. We hope that you get all your money back. We have a good experience with mychargeback, you can read about this service here – https://xbinop.com/mychargeback-binary-options-scams/

i think i,m being scammed by a firm called CEX MARKETS. does anybody know or had any bad experiences with them.

Hi Sam, I dont know them unfortunately. Can you provide us with more info?

There is no reason to distrust binary options in general; you only have to be a little careful about which brokers you decide to trade with…

Hi thanks for your article.
what is your opinion about closeoption.com/?

Hi, Trader. I would NOT invest with them. I am not saying that they are a scammy broker though.

I got scammed by a scam broker recently stoxmarket. I had to hire a recovery professional to recover my funds. Im glad I got a refund a lot of traders are struggling with withdrawals.

I gotta ask, who did you hire mate? Marcus Gate?? This wiz again!

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