Optimalfxtraderoption review – 5 things you should know about optimalfxtraderoption.com

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An offshore entity with a name hard to pronounce, an expired SSL certificate, fishy investment plans and a warning issued by one of the strongest regulators out there. What else do we need to label Optimalfxtraderoption as a scam scheme? Probably, we’ll have to mention that the fraudsters running this project even forgot its name, but you’ll see what we are talking about in the full Optimalfxtraderoption review.

Optimalfxtraderoption REGULATION AND SAFETY OF FUNDS

Optimalfxtraderoption surprised us by claiming to be St. Kitts and Nevis incorporated and further regulated. Well, that’s a blatant lie because we found no such company authorised by the regulator to provide financial services. In fact, there isn’t even such a legal entity in existence, so that’s a scam. The U.S. Securities and Exchange Commission shares the same opinion as it put Optimalfxtraderoption on the PAUSE list, confirming it’s fraudulent. The bottom line is that your funds will be in danger if you deposit with Optimalfxtraderoption because it’s an exposed scam.

Avoid it and see the high-rated EU brokers and British brokers on both lists instead. The European FX companies are regulated and covered by deposit insurance funds protecting traders’ money if things go wrong. For example, when trading with a CySEC broker, you can claim up to 20 000 EUR in case of bankruptcy, while the British guarantees are up to 85 000 GBP per person. The deposit insurance funds grant extra protection, so it’s a no brainer if you are eligible to open accounts with Europeans.

Optimalfxtraderoption TRADING SOFTWARE

Optimalfxtraderoption doesn’t have trading software. What they call a platform is a third-party provided chart, so the pretended broker can’t offer any Forex services whatsoever. Nevertheless, there are some fishy investment plans allegedly bringing daily profits starting from 2.5%. That’s a scam!

While speaking of software, we’d like to offer the high-rated MetaTrader4 brokers and MetaTrader5 brokers on both lists while talking about software. The MTs are market leaders packed with advanced features such as Expert advisors, many indicators, and excellent charting tools. The software also includes a marketplace with more than 10 000 apps and third-party developed solutions, which is an unrivalled advantage. Interestingly, MT5 surpassed MT4 for the first time in terms of brokers offering the platform, but its trading volumes are still lower.

As there is no platform, there are no real-time spreads to discuss. As for leverage, Optimalfxtraderoption claims to offer 1:100 for cryptocurrencies. Well, that’s a suicidal ratio for crypto pairs due to the extreme volatility on the market. If you trade Bitcoin on 1:100, you may as well get margin called seconds after you’ve opened a position. That’s a scam!

In contrast, the European regulators limit leverage for cryptocurrencies to 1:2 due to the high volatility, while FCA in Britain entirely prohibited those instruments. In fact, leverage is so dangerous that it’s been a subject of regulatory restrictions for quite some time. For instance, due to regulations, licensed EU, British and Australian brokers have to limit retail clients to 1:30 for FX majors, while Canadian brokers and US brokers to 1:50. Swiss brokers are trustworthy but not leverage restricted, so experienced, and risk-tolerant traders eligible to open an account in Switzerland can safely go for it.

Optimalfxtraderoption DEPOSIT/WITHDRAW METHODS AND FEES

The minimum deposit is $500, but as Optimalfxtraderoption is an exposed scam, you shouldn’t spend a dime there. Instead, if you follow the links provided in this review, you can find less demanding trustworthy brokers to trade with.

The single funding method is Bitcoin. Now, we need to warn traders that cryptocurrency deposits are anonymous and non-refundable, so Optimalfxtraderoption apparently wants to evade chargebacks. Not a surprise, actually. Anyway, regardless of the brokers, it’s always better to fund accounts via Credit/Debit cards because it’s possible to file a chargeback dispute for up to 540 days after the transfer.

Nevertheless, see our lists with Skrill brokers, Neteller brokers, FasaPay brokers, Sofort brokers, and Bitcoin brokers if you have a preferred e-wallet or a trusted payment system. The high-rated companies are well-regulated, and you won’t face scammers, so you can safely open accounts.

As for withdrawals and fees, we found nothing in the Terms, and the absence of such provisions is a red flag nonetheless.

Overall, Optimalfxtraderoption is an officially exposed scam, so you should avoid this illegal entity.

HOW DOES THE SCAM WORK

The scam usually starts with the deceitful ad, the cold call or the fraudulent social media profile, and once you get enticed, you’ll be constantly manipulated by the con artists. In most cases, the scammers will claim to manage your account and will show you winning trades at the beginning to make you believe it’s worth dealing with them. By doing so, they aim to gain your confidence and trust, which helps them in the following stages.

From there on, scammers won’t let you withdraw profits but will constantly urge you to invest, again and again, asking for much greater sums. Make no mistake about it; those criminals will try to squeeze as much as possible from you, so they’ll advise you to put all of your savings in the scheme.

You’ll probably understand what’s going on as soon as you try to get your money back. At this point, scammers will try to persuade you not to do so and will even shamelessly say that you can’t withdraw unless you deposit once more. If you are persistent and refuse to follow their instructions, they will simply cut the communication and close your account. Then, whenever fraud becomes publicly exposed, scammers will abandon the website and create new ones, carrying on with their criminal activities.

WHAT TO DO WHEN SCAMMED

Unfortunately, no one is immune to scams. If you get scammed, the first thing you need to do is to consider the secondary risks. Deactivate your credit card and contact your bank and ask for advice.

Then, report what happened to you, file a complaint, contact the authorities, call the police if you feel necessary. Seek help actively!

Remember, it’s crucial not to rush blindly to recover funds because fraudulent chargeback agencies and individuals are stalking, trying to double scam the victims. They ask for upfront payment, take the money but won’t do anything to help you!

Share online your experience; it’s important to protect others, too. Be responsible

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