Even though FTrade binary broker was established in 2014, it had attracted a number of traders who continue to use their services. They advertise themselves as brokers who are in step with the latest technology; they constantly work on their general improvement, and offer their users the most comfortable and the safest way to trade.
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The basics
We have already mentioned that FTrade is a fairly new broker and it is important to note that they haven’t been licensed by CySEC yet. This might be a warning sign since in order to make sure that someone’s business is legitimate, having a valid license is crucial. The lack of a regulating body immediately raises a red flag.
This fact is usually to blame for the negative FTtrade reviews they have received from the trading community since not all traders are ready to invest their money into something that is potentially unsafe. So if they want to keep their clients, they should definitely hurry up with licensing their business.
Opening an account
Creating an account with FTrade binary options broker is simple and if requires only a couple of steps.
You can choose to open an account as an individual investor or a corporation. Learning how to trade binary options is not difficult and FTrade offers educational materials to all new clients who decide to trade with them. Their educational center is not something extraordinary and personally I think that you can find better options out there if you really do need training.
Minimum deposit is $200 which is somewhere in the middle range. It is not low but it is not too high either. It seems like they do offer some sort of a bonus once you create an account but the amount vary. They also have a ‘Reefer a Friend’ bonus which requires you to recommend their services to an acquaintance and once he or she becomes a member, you will receive a bonus to your own account.
Trading platform
FTrade offers a web-based trading platform called SpotOption and it can be accessed via browser. You don’t have to download any type of software for the computer to keep an eye on your account. They also send out binary signals through KeySignal and you are free to use their automatic or manual binary trading, depending on your preference.
Is FTrade scam?
As we were researching for this FTrade review, we have encountered plenty of websites claiming that due to the fact that they lack an official license and they do not answer to any government or a regulating body, the chances are they are leading an FTrade binary scam. But as far as we could see, there is no confirmed case of a fraud so far.
Conclusion
This FTrade binary broker review is a bit on a fence since they do not offer anything remarkable to their prospective clients and nothing really stood out for us. Also, there is a possible FTrade scam since they are operating without a license. I truly believe there are better alternatives for binary trading out there and you should perhaps choose a different broker for your trading business.
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