Orbex, previously known as AFB FX, is a regulated forex and contracts-for-difference broker known to have received ‘distinguished’ rewards through the years in the forex arena. Having been in operation since 2011, Orbex has acquired a reputation as a trusted and reliable investment broker. Headquartered out of Cyprus, orbex.com is regulated by not only local but also other European regulatory entities. Known for their educational program and trading platform, Orbex is referred to as a broker that should be considered by all investors searching for a regulated brokerage.

Who is Behind Orbex?

The About Us page offers a good amount of information regarding the features provided on the site but not much information in regards to the identity behind this brokerage. By tracing down their regulatory license numbers we narrowed down that the company associated with Orbex is ORBEX Ltd. This brokerage is fully licensed and regulated by a multitude of different regulatory entities like CySec under License Number 124/10.

Found on the Contact Us page on the site, the head office for Orbex is located at Office 3501, 5th floor, Maximos Plaza Tower 3, Maximos Michaelidi Street, Limassol 3106, Cyprus. The telephone number provided for their main office is +357 25588855. Furthermore, Orbex support can be reached through live chat or through email at support@orbex.com.

The domain, orbex.com, was registered on August 8th, 1995. Leading us to deduce that this domain was likely a separate launch more during the midst of the vanilla options and early foreign exchange era. As of 2017 though, Orbex is widely considered to be a leading forex and contracts-for-difference brokerage.

Orbex’s Offer

Orbex enables investors the ability to day-trade both forex and contracts-for-difference options. This means that investors are able to invest currency pairs, commodities, and indices. Due to the simplicity of Orbex’s platform structure investors aren’t provided with a wide array of trading styles besides the usual Call/Put contracts that can vary between short term and long term expirations. Return rates are competitive with Orbex when compared to other forex and CFD related brokerages.

Orbex Account Types

There are four separate accounts types available at Orbex. The most remedial and starter membership package would be Classic account. Classic account requires a minimum initial deposit of $500 and offers a spread of 1.9. A leverage of 1:500 is offered while the Stop Out is offered at 20%. Free Expert Advisors (EAs) and VPS (virtual private server) hosting is allowed with this account type and all the following ones to come.

Secondly, we have the Standard account, which is essentially the same as the Classic account besides a couple variations. Again, the initial deposit required is $500 while the spread offered is as low as 1.5. Scalping is available through this account type along with a leverage of 1:500 and a reported Stop Out of 20%. Expert Advisors and VPS hosting are offered free of charge through this package which leads us to advise investors to consider opening a Standard account instead of the Classic account.

Further up the ladder we have the Premium account. Spreads are offered as low as 1.2 with the same leverage of 1:500. The minimum deposit required is $5,000 and essentially all the same trading perks are offered through this membership package as both the Classic and Standard account. Investors who start with this package will receive more advantages in regards to the educational aspect provided along with an account manager who is supposed to assist you with the well-being of your account.

Last but not least we have the VIP account which comes with a price tag of $25,000.  The spreads offered are as low as 0.8 with the same leverage of 1:500.  All the same perks are available through this account type except with more emphasis on the educational aspects and the efforts exerted by your account manager.  All-in-all you aren’t provided with many more advantages when compared to the Premium account so ideally we don’t advise investors to get started with anything more than the Premium account.

It should be noted that return rates along with bonuses are increased the more premium you make your membership.

Orbex Trading Features

Due to orbex.com being both a forex and contracts-for-difference broker the trading features offered through this platform are plentiful.  Although the spreads and leverage offered are competitive at best other trading features like Copy Trading (social trading) are enabled.  Perhaps the most appealing characteristic about the trading platform would be how it is MetaTrader4 based.  Meaning that investors who possess the charting solution MetaTrader4 (MT4) are able to execute their investments through their charting solution rather than having to navigate between separate windows.

Other unique advantages of Orbex would be how they publish Weekly FX reports, offer free tutorials and educational resources along with investment calculators.  The investment calculators offered allow investors the ability to calculate risk, pivot points, pip and margins, and currency exchange rates.  While all these perks may be beneficial and common among other brokerages the most sought out perk provided would be the free demo account.

Popularity

Orbex is a relatively popular site with a SimilarWeb global ranking of 312,358 at the time of posting this review.  Almost 30% of the visitors viewing the site reside within Turkey, Brazil, United Kingdom, United States and Jordan.

In addition, Orbex receives the majority of their traffic from reviews that originate from Google search queries. Other considerable sources of traffic can be contributed to YouTube channels reviewing this site along with Facebook.  It appears that this brokerage reflects a strong social media presence and is considered trustworthy on a wide number of review sites.

Orbex Review Conclusion

Orbex appears to be a rather competitive forex and contracts-for-difference brokerage. They are regulated not only by CySec but numerous other regulatory agencies. If you do decide to pursue an account with Orbex, we recommend getting started with their demo account first that way you can acquire a better understanding of how the trading platform works before shelling out your money.

Please share any experience or knowledge you may possess about Orbex – positive or negative – by commenting below.

PrimeCFDs  was launched in April 2017, so it is definitely a new player on the online trading scene. Despite the short span of its existence, it has managed to draw the ire of the community, as the operation is apparently not exactly regulated, nor particularly fair when it comes to handling the funds of its clients. The About Us section of the site contains very little useful information about the operation. There’s some rather empty ranting about the vision of the brokerage and its various features, but nothing about who is indeed behind it all…

Who is Behind PrimeCFDs?

The corporate entity behind PrimeCFDs is a company called Orion Solutions SRL, based in Romania, at 29 Erou Iancu Nicolae Str. Voluntari. When the company was founded, this same corporate entity was apparently located and registered in Bulgaria. At any rate, it does not look like some sort of prestigious operation one would whole-heartedly recommend as trustworthy.

According to the Contact page of the operator, the brokerage maintains offices in scores of other countries, such as Nigeria, Ukraine, Bulgaria, Norway, the Netherlands, Finland, South Africa and Australia among others. While phone numbers are available for all these locations, whether or not actual, physical offices are indeed maintained in all these places, is a different question.

Interestingly, the primecfds.com web domain features public registration information, according to which, its registrant is Nikos Aristeidou, who represents PrimeCFDs Ltd, based at 71-75, Shelton Street, Covent Garden, London, WC2H 9JQ. The fact that this information is indeed publicly available is definitely a major mark in the + column for the operator, who has made it clear this way that it’s not afraid of actually putting a name on its brokerage.

Contact Information

Consistently with the information delivered in the whois data of the website, the contact phone number given in the Contact Us section is a UK-based one: +44-2033559997. There’s a contact form available as well as an email address: support@primecfds.com. For every one of the above mentioned international offices, a phone number is given too. Thus, we have +61-863777278 for Australia, +47-21954536 for Norway, +27-213009275 for South Africa, and +380-612282615 for Ukraine, among others.

PrimeCFDs Popularity

The global Alexa rank of the PrimeCFDs website was 54,028 at the day of posting this review (September 1, 2017), which means that it is quite a popular online destination. Given the tender age of the operation, this is surprising. Most of the traffic of the website comes from New Zealand, Australia, South Africa, Netherlands, Switzerland, UK, Malaysia and Sweden.

Much of their traffic is sent to them by affiliate websites, such as binaryoptionsthatsuck.com, million-dollar-months.com and profitmaximizer.pro. Some of these websites are scams.

Available Account Types

The brokerage offers 5 account-types, which require progressively bigger deposits, while offering progressively more – and more generous – perks.

The Mini Account, the most basic one, features payouts up to 82%. While it gives access to professional charting services and 24/7 support, it also comes with monthly withdrawal fees.

The Silver account offers many of the same features, though it throws in trading alerts, access to the basic version of the site’s Trading Central, and a personal account manager. Account managers/personal coaches need to be treated with caution, as their interests seldom coincide with that of the trader. Indeed, in PrimeCFDs’ case, there has been some negative feedback in this regard, in addition to aggressive marketing tactics.

The Gold account increases the cap on payouts to 84%. In addition to all the perks featured by the previous (Silver) tier, it also offers SMS and email-based trade alerts. It retains the monthly withdrawal fee though. This account type is touted as the most popular of the operator.

The Platinum account does away with this withdrawal fee, and it raises the payout cap to 86%. In addition to everything the Silver account offers, it grants traders access to Forex-based CFDs and to a live training session.

The top of the account-pops is represented by the Diamond account, which – in addition to everything the Platinum account offers – raises the limits on trading and exposure. Also, it raises the payout cap to 88%, which is the highest available at the site.

Interestingly, minimum deposit requirements are not mentioned in any shape or form at the site. According to trader feedback, the minimum deposit requirement is $250.

Deposits and Withdrawals

PrimeCFDs accept a fairly standard selection of deposit- and withdrawal methods. VISA, VISA Electron, Maestro and MasterCard are all accepted, together with Wire Transfer and e-wallets like Neteller.

PrimeCFDs observe a KYC (Know Your Customer) policy, which pretty much means that they will make it as difficult for their traders to withdraw money as they can. According to some trader feedback, withdrawing money from the brokerage is a rather impossible feat to begin with.

PrimeCFDs Platform

PrimeCFDs use the TraderSoft platform, which offers access to binary options, CFDs and Forex trading. The built-in charting features of the trading platform are OK, and everything is quite self-explanatory. Other than that, calling the platform “bare-bones” is probably an accurate depiction of what one can expect from it.

Available assets

Through the above-said three main categories, PrimeCFDs offers traders access to an impressive range of currency pairs, commodities, indices and stocks. Hundreds of underlying assets are available.

Returns

As said above, PrimeCFDs’ return percentages are situated in the 82-88% range, depending on the account-type one uses.

PrimeCFDs Review Conclusion

A lot of things don’t add up with this brokerage. Although there have been rumors regarding a possible Vanuatu license, the bottom line is that this is an unlicensed operation. As such, we will never recommend it as a decent destination for your trading needs. Also, the community feedback it has thus far drawn is downright toxic.

Some say the broker is focused on stealing from its clients, others decry the aggressive marketing tactics used by PrimeCFDs personnel. Their “account managers” are particularly disliked. The worst thing is that no one (from among those who have shared their experience online) has seemingly managed to withdraw any money from PrimeCFDs.

Feel free to comment below if you can contribute to our PrimeCFDs review.

Serving a Canadian-only clientele, Questrade is indeed one of the oldest online FX/CFD/Managed Investing brokerages in the world. As such, over the years, the operation has accrued hot and cold user feedback-wise. There are reviews out there praising every aspect of the operation, while some message boards feature nothing but negative feedback.

What exactly does Questrade offer though and why should you, as a Canadian (no one else can trade there) choose its services over the competition?

The operator claims to be the first and only Canadian financial company observing a customer-first policy. It was indeed the first Canadian brokerage to introduce penny stocks ($4.95 stocks) in 2006, at a time when normally, a single trade would set users back some $130. In 2008, the operator introduced the first registered accounts designed to hold USD as well as CAD, to allow users to trade US stocks, while sparing them the expenses associated with conversion. According to some of their users though, conversion fees are in fact charged by the brokerage…

Trailer fee rebates on mutual funds have been introduced in 2009, followed by commission-free purchases of North American ETFs in 2013. In 2014, Questrade Portfolio IQ – the first low-cost online actively managed investment portfolio, was introduced. 2017 was the year when the brokerage launched its mobile app.

In addition to all the above perks, Questrade also feature account protection for their traders, up to $10 million.

The operation handles some $5.5 billion in assets, and it sees some 30,000 accounts opened every year. For 6 years, Questrade was elected one of Canada’s Best Managed Companies.

The Promotions section of the brokerage is filled with various deals carrying extra value. There’s a free eBook offered to new traders, aimed at easing them into the mysteries of option trading. Those who make use of a special coupon code, can secure 5 free trades. A newsletter with technical analysis is delivered through the Daily Ticker, and there’s a practice account available to those looking to trade the FX and CFD markets.

Traders who open a new account and deposit at least $25,000, get a month’s worth of free trades, coupled with advanced market data. Even after the expiry of the free trades deal, such users can subscribe to an additional advanced data plan and various other perks.

Questrade are obviously eager to have their clients transfer their brokerage accounts to them. In this regard, they offer an extra incentive, by covering the transfer-out fee.

Security at the site is trusted to Verisign’s EV SSL technology, the latest iteration of the well-known and proven secure socket layer solution.

Two main investment options are offered at Questrade: Self-Directed Investing (for those looking to trade on their own) and Portfolio IQ which is – as mentioned above – a low-cost, actively managed investment portfolio.

Through Self-Directed trading, users can trade 1cent/share stocks, they can buy ETFs commission-free and they can access powerful trading platforms. The minimum on the 1 cent stocks is set to $4.95, and the maximum to $9.95.

Options cost $9.95+$1 per contract, and while low FX spreads are advertised, these spreads actually start from 1.7 pips, which is not really that low by online trading standards. Rollover costs are also part of the package. Open positions will be rolled over every day at 5 PM ET. The costs involved depend on the type of product that’s being rolled over.

Those who elect to trade on their own at the brokerage, will also have their mutual fund fees rebated and their fees generally lowered through the myFamily feature, which allows them to link their trading accounts to those of their friends and family.

Portfolio IQ is a managed investment service, allegedly handled by professional traders. The service promises to help its users retire “30% wealthier,” a proposition which is indeed well within the limits of reason.

Through Portfolio IQ, investments are diversified and due to the much lower fees – when compared to an average mutual fund – profits are compounded much faster. The way Portfolio IQ is set up means that the more one invests, the lower the fees will be. Setting up the Portfolio IQ system is easy too.

First off, users are required to state their financial goals (based on which Questrade’s experts will pick a more or less aggressive investment strategy). Secondly, the system recommends the user an investment portfolio, which he/she can then review, and approve. Only after these two steps are completed, can the user proceed to open and fund the account. The profile creation process can be paused and saved at any time, and support can be requested too.

Questrade Platforms

The brokerage features three trading platforms, of which the handiest and most straightforward to use is the web-based Questrade platform. As such, this platform does not require a download. According to the Questrade site, their webtrader is much more than a trading platform: it is a complete environment, which – besides the features required for trading – brings fundamental analysis and multi-leg options to the table, too.

The IQ Edge platform is a downloadable one, which is aimed as professional traders and experts. Featuring a much more powerful suite of analysis tools, IQ Edge allows for trading environment customization and advanced trading orders. The software is compatible with Windows as well as Mac.

Questrade mobile is aimed at mobile devices users. The most recently released of the Questrade platforms, the mobile app is surprisingly powerful and versatile.

Should I Trust Questrade?

Despite the fact that there are many user complaints out there regarding the quality of various Questrade services, no one has yet claimed outright fraud. The operation is indeed legitimate, though if you are not a Canadian, the issue of trust is entirely irrelevant to you.

Question Marks and Red Flags

As said, the operation is legit, though the countless complaints posted by its users regarding their currency exchange fees, platforms and just about every other operational facet, certainly do raise a few questions.

Complaints

Most of the above-mentioned complaints regarding Questrade’s services are rather old, posted in 2012-2013. The operator may have addressed those contentious issues since.

Questrade Review Conclusion

Questrade looks like a legitimate operation, but its services can only be accessed by Canadians. That makes it quite irrelevant for the overwhelming majority of the online trading industry. Its features are plentiful, as are the perks/promotional deals it offers. Though often complained-about, its trading platforms seem satisfactory as well.

What’s your review of Questrade? Leave a comment below and let us know!

S2Trade is a very young online FX brokerage, which got off the ground in May 2017. While the “About Us” page of the S2Trade.com website brags of a “spotless reputation,” considering the age of the operation, it is safe to say that it is rather early to make such claims.

Why should you go with S2Trade though? The brokerage offers a fairly standard suite of services, and it has made customer privacy one of its top priorities. What that translates to – according to the S2Trade site – is that only clients who request to be called will ever be called. Considering the trend of aggressive marketing pursued by many of the borderline scam actors out there, such an approach is indeed a considerable asset. Above and beyond that though, through its mirror trader, S2trade gives beginners the opportunity to copy the (preferably successful) trades of experienced traders from the S2Trade network.

The Contact Us page of the brokerage makes it clear that the corporate entity behind the site is Goldtech Media Services. Based in Tallin, Estonia, at Tornimae 5, 10119, the brokerage has apparently made efforts to comply with EU regulations. They do indeed observe strict AML and Conflict of Interests policies. The latter stipulates that the interests of the client are granted top priority at the brokerage, and these interests will – under no circumstances – be harmed in any way, shape or form.

In accordance with the KYC policy also in effect and observed by the operator, clients are required to provide a series of documents for identification purposes, including but not limited to ID copy, poof of address and credit card copies.

The contact emails of the operator are compliance@s2trade.com, and support@s2trade.com.

S2Trade Products

The trading offered by S2trade.com covers forex, as well as CFDs on metals and a wide range of indices. The asset-selection is plentiful for every one of those categories, and the trading conditions (spreads, commissions, leverage) differ from one account type to another.

S2Trade Platforms

S2Trade is built upon the good-old, reliable MT4 platform, more precisely, on a number of its variants.

The base version of MT4 is focused on secure and lightning-fast trading for all users. The platform offers true cross-asset trading, a wide selection of time frames for technical analysis, no fewer than 75 analytic tools and direct access to real time executable prices. Properly understanding the MT4 platform is a major skill for all traders – beginners and experienced. MT4 can be downloaded directly from the S2Trade website.

The mobile variant of MT4 lets traders take the best of what the platform has to offer, on the road. The interface is intuitive and it makes the mobile platform easy to use. It is compatible with Android as well as iOS devices, and it works with HTML5. The S2Trade mobile trader is available on Google Play and the Apple Appstore.

A webtrader and an MT4 multi terminal is available too, in addition to the main draw of the brokerage, which is – without a doubt – the Mirror Trader.

To help clients get a better feel of the overall market sentiment, S2Trade offers a handy economic calendar too, as well as in-house daily market analysis.

S2Trade Account Types

A said above, S2Trade offers three account types. The most basic of these is the Standard Account, which comes with a minimum deposit requirement of $500. Those who do indeed make this deposit, will gain access to a selection of free trading signals, for a month.

The Standard Account covers all the products and platforms described above. The minimum spread on the no-commission version of the Standard Account is 2.5 while on the commission version, it starts at 0.2 pips. The maximum leverage on this account variant is 1:200. The commission on the commission version of the account, is $8/100k.

The first step up the account ladder is the Premium Account, which – minimum deposit-wise – represents quite a leap indeed. Instead of $500, the requirement in this respect is $5,000.

All the regular products and platforms are covered by this account, in addition to micro lots.

The minimum spread on a non-commission account is 2.1 pips, while for a commission account, the minimum is as little as 0.1. The commission itself (on the commission version of the account, obviously) is only $3.5/100k. The maximum leverage is 1:200 with this account too.

The biggest and best account is the VIP one, which is called “truly tailored” by the brokerage. The no-commission version of this account-type features minimum spreads starting from 1.5 pips. The commission is $2/100k. To gain all the obvious benefits offered by this account-type, clients need to make a minimum deposit of $50,000 though. The maximum leverage is 1:200 on this account too.

Customer Support

The handiest and most straightforward way to contact S2Trade support is through the live chat feature, which can accessed directly from the homepage. In addition to that, there’s an email form available in the Contact section too, as well as two email addresses for direct messages: compliance@s2trade.com, and support@s2trade.com. The phone number through which the brokerage can be contacted is a UK-based one: +442036775478.

The site itself is available in Italian and Arabic, in addition to English.

Payment Methods

For deposits, traders can make use of a selection of credit and debit cards, such as VISA, MasterCard and Maestro. Skrill and Neteller are accepted deposit methods as well. Upon making their deposit, traders are required to complete a deposit form, to confirm through email and to provide the required compliance documents. Wire Transfer can be used as well.

Withdrawal can be made through the same methods. It usually takes the brokerage 24 hours to process withdrawal requests.

Popularity

The SimilarWeb global rank of s2trade.com was 406,661 at the time of posting this review (October 3, 2017), indicating it’s not very popular at the moment. Much of its traffic is currently comprised of people from South Africa, Italy, United Kingdom, Germany and Netherlands.

New visitors are referred to the site mostly from brxfinance.com, as well as through display advertising.

S2Trade Review Conclusion

S2Trade would be a fairly run-of-the-mill Fx/CFD brokerage, if it weren’t for its social trading feature, the mirror trader. Other than that, all its features are standard though: the platforms are solid and proven, and the available account types diverse-enough to fulfill the needs of all comers.

Don’t sign up with Secured Trade Investment until after you read our unbiased review! Operated from SecuredTradeInvestment this binary insurance company is the latest scam to plague the binary options industry with fictitious escrow accounts that creates the illusion that they have your best interests at heart. Fabricated entities and deceptive promises are the pivotal foundation to the Secured Trade Investment operation. Learn why you should avoid this thieving binary options site and what measures you can take if you have endured losses through scheming online investment scams.

Fictitious team members and phony testimonials are the most deceptive elements found on the site. Owen Beamont and Mathew Macleod are the alleged CEO and Assistant Manager of Secured Trade Investment but research will reveal that both of these entities don’t actually exist.  In reality, these two created identities are nothing more than stock images undoubtedly gathered from an online image bank. The employment of these fabricated entities serve the purpose of building a false sense of credibility while earning your trust.

Other deceptive elements found on site would be the contact information. We are given two separate addresses, the first being 7 Triton Square, Regent’s Place, London NW1 3HG UK. Almost amusingly, when this address is entered into a Google search query the company that matches this address turns out to be London and Capital Asset Management. Furthermore, the second address provided is 1270 E Broadway Rd, Tempe, AZ 85282 (International Trade Center).

As some of you may have guessed, when the second address is searched no credible or actual businesses appear in search results. This leads us to believe that like the fictitious team members and testimonials that the addresses provided are phony and have no affiliation with the Secured Trade Investment network. Other contact information provided would be their email address which is [email protected] along with two separate telephone numbers. A reverse phone search will reveal that both 1-480-535-5697 and 1-203-517-4739 have no affiliation with any entity connected with this site and are based out of Connecticut and Arizona.

It is becoming evident that most of the investors who are falling victim to Secured Trade Investment would be those who have already been scammed.  Pretending to serve as an insurance claim company, this site relies heavily on claims filed through their site along with obtaining trading account information from particularly malicious and blacklisted binary option brokers.  How this site is obtaining past traders personal and financial information we are unsure but it is disturbing nonetheless.

Provided below is some feedback we have received in regards to Secured Trade Investment:

Recently I was contacted by a company called Secured Trade Investment who had got hold of my trading account info from Vault Option and they claimed that they can recover my funds from the company who owns Vault Options and refund the money to me for a fee of about 10% of the recovered amount…. They are in the process of establishing an ESCROW account to protect both side of the transaction from a scam and I am trying to confirm from somewhere their status as regards scamming.

…I was contact by Secured Trade Investment who stated they could close my LM Swiss account and get my refund for me.  The cost of the operation excluding their fee was $6771 USD.  They send me contracts to sign…contracts were signed by Mathew Macleod from Secured Trade Investments and by a Michelle Young…I would need to pay an additional $6290.00 USD to release the funds.  Between 1 May 2017 and 19 May 2017 , I sent Secured Trade Investment the sum of $13 500 USD for the release of $150 000 USD….said that I needed to pay an additional $3883 USD which was still outstanding…I have left countless messages and sent numerous emails to Secured Trade Investment without any success.  I am extremely disappointing and frustrated by the methods these company’s scam innocent people like me.  I am facing financial ruin and I do not know what to do.

Quite barbaric and extremely disheartening if you ask us. The feedback provided above by those who have already suffered losses are facing even more financial turmoil due to the ruthlessness of this binary options scam. The contracts signed by “Mathew Macleod” were not official because as we shared above Mathew Macleod doesn’t actually exist!  The same goes with the testimonial provided by “Lilly Dobles,” which as you can see is nothing more than another fabrication.

It goes without question that Secured Trade Investment is a nasty and deceptive binary options scam! Misleading investors who have already fallen victim to scams is demented and just goes to show how vile scammers can be when trying to earn to a quick buck. This indisputable scam review should provide you with the insightful caution needed to always conduct thorough research before committing with any online investment related endeavor. We are predicting more fraudulent insurance claim companies to spring into existence so with that being said make sure to stay vigilant and only invest with tested investment services!

Review Verdict:  Secured Trade Investment is a SCAM!

Blacklisted Website:  SecuredTradeInvestment.com

Among our top priorities would be protecting investors from a multitude of ruthless day-trading scams while exposing fraudulent investment operations.

Set Forget Pattern Profit can most aptly be described as a downloadable forex technical indicator. Being advertised as a “set it and forget it” technical indicator has enabled this relatively new trading solution to mock up a reputation as a semi-automated investment solution that will essentially do all the hard work for you. In theory, Set Forget Pattern Profit seems like a promising solution with their “super smart and very accurate” trading signals, but is there more than what meets the eye with this expert advisor?

Who is Behind Set Forget Pattern Profit?

The Set Forget Pattern Profit Expert Advisor (EA) is allegedly created by an entity known as Karl Dittmann. According to research, Karl Dittmann is a professional forex trader who has perfected the art of developing profitable and reliable technical indicators. Having been responsible for labeling over half a dozen forex related trend indicators we find it incredibly difficult to find where Karl Dittmann’s loyalties truly lie.

What we mean by that would be whether Karl Dittmann is just a gifted investor with a knack for programming or whether this entity is just trying to amass as much income as possible by launching countless trading solutions. Historically speaking, when we come across such circumstances, we are forced to face the possibility that these sort of investment endeavors are misleading and bogus trading solutions that accept zero liability for the performance aspect of their solutions.

A quick search of “Karl Dittmann scam” in any search engine will reveal that Karl appears to be a shifty and untrustworthy character. Accused of being a viral forex scammer united with funnel web pages that promise you very accurate signals, yet fail to deliver, has resulted in Karl Dittmann’s creations to be classified as fraudulent and unprofitable trading solutions.

How Does Set Forget Pattern Profit Work?

According to the site, Set Forget Pattern Profit was developed using the “latest accurate prediction technology.” Allegedly so smart that it will fast forward you to financial freedom in less time while being very easy to use. Essentially what we are confronted with would be a get-rich-quick scheme that is powered by a “special trading algorithm.” To further add to this ridiculous sales pitch, Karl Dittmann goes on to claim that this solution is “so powerful that it is undoubtedly the most profitable indicator to trade with.”

Expert Advisor Trading Features

Due to the nature of Set Forget Pattern Profit being a technical indicator it is quite variable when incorporated into a charting solution. According to setforgetpatternprofit.net, this indicator is most effective when used with a 15 minute, 30 minute, 1 hour, 4 hour or daily time frame. All of these time frame variations cannot be controlled directly with the indicator, but instead with the charting solution that you decide to commit with when using this indicator.

Whenever a new signal is generated, users can choose to receive a pop-up alert in the charting solution, a mobile push notification or an email alert. Among one of the promises found on the site would be how this software claims to generate between 100 to 200 pips in profits daily and requires investors to posses no trading experience. One lingering question we have would be why Karl Dittmann never included any verified or transparent investment results on the site.

Sure enough there are plenty of images showcasing trading signals that allegedly landed in-the-money with significant profits but they aren’t verified. For all we know those images could have been the 1 out of 10 original signals generated that just happened to accrue a profit. Unfortunately, we have no way to verify these signals and if Set Forget Pattern Profit is to be trusted then surely more proof of the indicators effectiveness could be provided.

Linked Trading Indicators with Karl Dittmann

Karl Dittmann is responsible for a number of forex operations that all appear to be just as questionable and misleading as this solution. Listed below are investment solutions that we have found to be linked with the entity known as Karl Dittmann (if you know more, please leave a comment below):

• fxengima.com
• pipswizardpro.com
• superprofitscalper.com
• fibomachinepro.com
• doubletrendprofit.com
• fastfxprofit.com
• supertrendprofit.com

Popularity

As of December 2017, setforgetpatternprofit.net possessed a SimilarWeb global rank of 11,219,836. This reveals to us that this site is not a popular investment destination and receives little traffic, if any at all.

Set Forget Pattern Profit Review – The Verdict

If you have been searching for a completely unverified and untrustworthy technical indicator to apply to your investment armory then Set Forget Pattern Profit is for you. For those of you who prefer a more practical, tested and legitimate alternative then we encourage you to visit our Trusted Service Provider Guide. We believe that it is obvious through the information provided in our review that Set Forget Pattern Profit is not a viable or promising technical indicator for forex investing.

Review Verdict: Set Forget Pattern Profit cannot be trusted!

Blacklisted Website: setforgetpatternprofit.net

Have you been scammed by Set Forget Pattern Profit or any correlated trading solution offered by Karl Dittmann? If so, please share any experience or knowledge you may possess as a comment below! We would also like to invest you to subscribe to our site to receive important news and scam alerts from us via email.

Smart Day Invest is a brand new HYIP or high yield investment program to become available to the public. In case you were wondering, high yield investment programs are generally considered to be Ponzi schemes. In other words, they promise ridiculous profits with minimal investment and with very low risk to the investor. The thing with Ponzi schemes is that they keep using the money from new investors to “pay profits” to older investors, all the while stealing tons of cash in between. Ponzi schemes always blow up.

Now, we don’t want to call this a Ponzi scheme right off the bat, but it sure looks as though Smart Day Invest is a scam. There is just way too much shady stuff going on here. Even worse is that there is a big lack of information provided about Smart Day Invest software in many crucial aspects. The things we do know about it are not good, and the things we don’t know about it just serve to solidify our suspicion that this is a scam.

What Is Smart Day Invest?

Smart Day Invest is technically a high yield investment program, which means that it is supposed to generate a whole lot of cash for you without much risk to you, plus without having to make much of a deposit either. The interesting thing about this program is that there are several mentions of Forex here and there. If you did not already know, Forex HYIP programs are usually always scams.

They promise things that just cannot happen, like ridiculous profits and risk free investment. We are told that we can earn ludicrous amounts of money simply by doing nothing at all. We are pretty sure that this program has nothing to do with Forex or any kind of investment at all. To repeat, this is a Ponzi scheme meant to defraud you and your bank account with the false promise of big bucks.

How Does Smart Day Invest Work?

We are told that this is HYIP that can generate tons of income. However, we are never actually told how it works. Heck, we are never even told what it invests in. Investment programs like hedge funds usually go for real estate bundles and other highly investible assets, business, and commodities. HYIP programs can’t really be related to Forex. High yield programs have to invest in something tangible, not engage in foreign exchange currency trading, because there is no way to guarantee high profits in Forex.

Even if Smart Day Exchange had not mentioned Forex, it still begs the question of what exactly it invests our money in. For all we know this software could invest our money in a real-estate bubble, like the one that caused the recent economic collapse, or it could be investing it in dirty oil money, chocolate bars, or even Lego.

Not knowing what is being done with our money is a huge problem. We are also never provided any relevant or usable info in terms of what investment strategies this system uses to make money. Even if we knew what Smart Day Invest used our money for, how does it do it? The lack of info here just kills any hope that this investment program could be legit in any way. Also, HYIPs tend to have hundreds of people bundled together. So, how many people are we bundled with?

Who Runs The Smart Day Invest Show?

Another very suspicious aspect of this obviously malicious program is that we are never told who is in charge. Nowhere on the website or anywhere else is there a single mention of the person in charge or even a company that owns this HYIP. Even worse is that we are not told where the company is based, nor are we given any contact info. The Smart Day Invest program is totally anonymous, which is a big problem no doubt.

Anonymous investment and trading systems are the most dangerous ones imaginable. When you inevitably have your money stolen from you, there is no one to go complain to and no one to point the finger at. These crooks choose to remain hidden in the shadows in order to rob your money while totally avoiding legal prosecution.

According to whois.com, the domain smartdayinvest.com was registered on August 5, 2017 by Zhuhai Yingxun Keji Limited from Zhuhai, China. Their phone number is +86.7563810566. Their fax is +86.7562623872. Email: service@todaynic.com.

The Promised Profits Of Smart Day Invest

Yet another telltale sign that this is a rip off has to do with the ridiculous returns which we are promised. We are informed that Smart Day Invest has the ability to generate daily returns of between 110% and 150%. Do you know how ridiculous that is? The best HYIPs in the world, of which there are not many, can usually only provide a small daily return, usually only a fraction of a percent.

If you invest $1,000 in a HYIP, you could expect to get a few dollars per day in profits, no more, yet Smart Day Invest promises that it will provide you with $1,400 every single day on a $1,000 investment. That is totally unfounded, unachievable, and unrealistic no matter what reality you live in. There is no way that any investment program could ever do that. The claim of being able to provide a 6% hourly ROI makes us want to cry. Sure, if it were true it would be spectacular, but there is no way that it can be true.

Smart Day Invest – Other Disturbing Things Found

Here are some other surefire ways to tell that this is a bogus investment opportunity.

• None of the brokers involved are reliable. They are unregulated and unlicensed. We are never even told who they are.
• The creation and registration date of the website has been messed around with to make it seem like the service has been up for several years. In reality, it has only been up for a few days.
• There have been many complaints from people who have not gotten any returns, who have not been able to withdraw money, and who have not been able to get into contact with anyone related to Smart Day Invest.
• People have been receiving spam emails from these crooks asking for personal info, banking info, and credit card details. If you ever get one of these emails, delete it immediately. There is no reason to ever enter credit card info into an email.

Popularity

At the time of posting this review (September 2017), the Alexa global rank of smartdayinvest.com was 1,346,595. This indicates they are not very popular at the moment. Yet they still get some traffic, mainly from Malaysia, Russia, Vietnam, Egypt and the Philippines.

Accordng to SimilarWeb, almost 30% of their traffic is obtained through referrals. More than 12% reaches the site via a social media campaign, especially on Facebook, but also on VKontakte, YouTube and Instagram.

Smart Day Invest Scam Review Conclusion

As you can see, there is not a single doubt that Smart Day invest is a scam. Everything about it is totally senseless and anything that is not senseless is just a downright lie. This is a Ponzi scheme with the express intent of stealing your money. Just do yourself a favor and stay as far away from this pile of junk as you can!

Surplus Binary Consultant is a mediocre binary options scam at best. Throughout this unbiased review we will unravel the misleading tactics used to make this service provider appear genuine while eradicating all legitimate appealing components found at surplusbinaryconsultant.com. For starters, we should point out that although this service provider was founded back in March of 2017, virtually no presence of this site can be found online except in regards to the website itself.  Due to inquiries received from several of our subscribers we are here to set the record straight from the get-go before day-traders fall victim to this binary options software scam.

About Surplus Binary Consultant

Surplus Binary Consultant is a binary options oriented service provider that offers a trading solution known as the Hi-Peak Trade Decoder. The Hi-Peak Trade Decoder is an investment software that can be web-based or a physical software product that can solely be used with compatible brokers. A general statement can be found at the bottom of site further elaborating how some of their products may not work with some brokers.

Operating under the capacity as a manual or automated investment software, the Hi-Peak Trade Decoder is advertised as a software that operates with “24/7 uptime service with profitability guaranteed.” In addition, this software is showcased to have a success rate of 98.7%, therefore confirming that miracles do in fact exist within the realm of binary options. Or at least that is what the creators behind this misleading scam would like for you to believe.

However, we feel obliged to point out that nothing is ever guaranteed when it comes to online investing. Empty promises are the backbone to the vast majority of scams we have exposed throughout our time in the online day-trading industry.  Furthermore, claiming to have an alleged success rate of 98.7% is absolutely absurd! No binary options investment service has sustained a success rate above 80% for a consistent period of time so why should this service be any different? This is clearly an example of another binary options service that is too good to be true.

Let’s not overlook the fact that the company information found in the “About Us” tab of the website offers virtually nothing of value. All one can grasp from the exceptionally vague explanations found on that page would be how each team member was carefully selected due to their personality and contributions. No mention of their company, founder or physical office location are shared with us which leads us to believe that this service provider is a total fraud.

How Does Surplus Binary Consultant Software Work?

…By fulfilling miracles thanks to the magical properties found in pixie dust? Well, perhaps not, but that is the best guess we can mustard to explain the divine miracle workings behind the Hi-Peak Trade Decoder software. There is no mention of whether the software is based upon customized technical indicators, trading algorithms or some other functionality. If we had to make a logical assumption on how this software functions, it probably operates as most other software scams operate which would be an algorithm-based software that is designed to slowly (or drastically) lose your money over time.

Generating a success rate within 2% of 100% success is perhaps the biggest lie flaunted on the site. In addition, the software claims that withdrawals are funded to your bank account instantaneously as you execute them and that zero errors will ever occur while using the software. The Hi-Peak Trade Decoder is able to accurately invest over 200 assets ranging from stocks, currencies, commodities and indices. Users also have the option of deciding whether they want the OS based software or the physical product itself, however given the opportunity we advice investors to just avoid this site due to the evidence provided below.

Surplus Binary Consultant – Fabricated Testimonials

Throughout this section is where things really start to go downhill for Surplus Binary Consultant. As you can gather from the heading above, none of the testimonials used to build trust and make this service provider appear more legitimate are real. In fact, most of the testimonials used are purchased or stolen stock images taken from some online image bank.

As you can see above we have “Mr. Michael Brunnel” and “Dorothy Higgins” who both were kind enough to provide us with their experience with this fraudulent service provider. Both claimed that the software is quite easy to use and we are led to believe that the users generated a substantial sum of profits due to the Hi-Peak Trade Decoder. However, as you can see for yourselves, both of these fictitious entities are actually images (most likely stolen) that were used to provide phony and misleading testimonials.

Domain Information

Referring back to the About Us page found at surplusbinaryconsultant.com, viewers are led to believe that Surplus Binary Consultant was first established in 2008.  However, a WHO.IS search will reveal to us that the site was created on March 17th, 2017.

Furthermore, the entity used to register this domain goes by the name of James and his registrant address is as followed:  1748 Tinsmith Circle, Florida, US 33559. Whether or not James is the actual founder behind this software scam is beyond our power to narrow down for certain. One thing is sure though, this is either a fake address, or this guy is working out of his garage:

Additional information found would be the registrant phone number which is 1-760-305-9744 while the admin email address is james37017@gmail.com.

The same details, by the way, can be found in the following sites:

• sovetrust.com – Sovereign Trust Bank Foundation providing banking services, including loans for private people as well as businesses.
• amfcunion.com – American Finance Credit Union – no longer in operation.
• 365binaryconsultant.com – probably the predecessor of Surplus Binary Consultant. Currently, it’s suspended for spam related offences.

SoveTrust.com – Sovereign Trust Bank

Due to the correlation of contact information between Surplus Binary Consultant and Sovereign Trust Bank we resolved to look further into the legitimacy of sovetrust.com. Immediately what we found in common would be how authentic and well-designed the site’s structure was overall.  For those who are relatively new to the banking world, Sovereign Trust Bank may appear as a legitimate trust bank that could prove rather useful for online banking.

However, as we have made quite clear in this review, appearances are what they always appear to be. When you break down this site you will notice some questionable characteristics that you won’t find in common with other legitimate banking institutions. First and foremost, what we found suspicious would be how no real address is provided in regards to the location of this branch.

Furthermore, on the Contact page, it says that Sovereign Bank is affiliated to FDIC. This statement does not mean that sovetrust.com is insured by the FDIC like it is misleading individuals to believe. Wording is everything when it comes to legality of sites. For those of you who reside within the United States, we cannot stress enough the importance of investing with an FDIC insured institution.

If you took the time to browse the site you will notice a number of grammatical errors and on the site there are at least half a dozen errors. This is an indication of laziness on the behalf of the creators behind this site, which we duly thank them for because it makes exposing the truth about this fraudulent trust bank imposter much easier.

Attention to detail is the way to identify scams among a variety of different financial opportunities. Take for instance, if you scroll down to the bottom of the page, the copyright to the site is alleged to an organization known as “Sovereign Trust Finacials [sic], USA.” Another error there, “Financials” is what you are looking for and don’t even bother clicking on that fake company entity, a Better Business Bureau search reveals that the company doesn’t exist, not even when spelled correctly.

Thankfully, we were able to find the connection between the contact information provided from Surplus Binary Consultant to confirm that Sovereign Trust Bank is a scam. One factor to remember when it comes to dealing with an investment or banking opportunity would be whether or not the site in question is open about their identity.

In the case of SoveTrust, it is quite clear that this fraudulent financial banking imposter is trying to remain as anonymous as possible. No physical address location is shared and the only real means of contacting this illicit operation would be via email. Do yourself a considerable courtesy by not investing with Sovereign Trust or any other connected entities.

Popularity

Popularity data for surplusbinaryconsultant.com and sovetrust.com was not available when this review was posted.

Spam/Email Campaign

As we mentioned, 365BinaryConsultant, the predecessor of SurplusBinaryConsultant, was shut down due to spam violations. The people behind this scam, didn’t seem to have learned their lesson. Indeed, Surplus Binary Consultant is still being promoted via an email campaign. One of our subscribers reported to us receiving the following email back in September 1, 2017 (less than 1 month ago). This is the email she received:

Dear Esteemed Customer, Welcome to the world of intense growth with Technology. The sizeof the decoder hasn’t changed. Its still as small as it is. However, it was magnified for the complete viewing audience to get a clearer picture. The price is $800USD now. Also,for increased online protection, Surplus Binary Consultant and its partnering regulatory bodies function, includes supervising and controlling investment services and carrying out inspections of broking. Surplus Binary consultant has shown a resolute commitment to comply with all the regulatory requirements of the main international financial authorities like ESMA, CFTC and JFSA. Trades need a reputable partner with global credentials to run a legal trade which meet the strict requirements of financial regulatory authorities. Surplus operate under the licensed name under the Cyprus Securities and Exchange Commission as Prime Investment Ltd with license number 160/11. Name amended to Surplus Binary Consultant with all registration of the former still intact. Regards, Surplus Binary Team

It should be obvious to you by now that none of the above is truthful. To take just one example, they claim their CySEC license number is 160/11, however as can be seen in the below screenshot from the CySEC website, this license number belongs to a different company altogether.

Testimonials

Here’s an email we received back in April 2017 from a Canadian who was scammed by this site:

Hello, I just want to share a not very pleasant experience from this company called “surplus binary consultant” everyone please beware that he is a total scammer! Like big deal, he will ask for your broker account and account number, he will tell you not to sign in while he is doing the “trade for me” options to make you feel wow this is amazing moment while in reality he actually is not trading for your account then will ask you need to insure the money to get etransfer to your broker account but in reality it never exist! This person is a real scammer like big time. At first he will promise a HighPeakDecoder which never exist then will manipulate you to get trapped will all the stuff that you could imagine. Can someone please close this website to stop him keep on scamming people!

Surplus Binary Consultant Review – The Verdict

Through the evidence provided throughout our honest review we believe that the verdict pertaining to the fate of Surplus Binary Consultant is quite clear. This binary options service provider is nothing more than a deceptive and fraudulent investment scam. Nothing about this site is authentic and the ruthless marketing tactics used to lure you in and gain your trust are nothing we haven’t seen before. Do yourself a considerable favor by avoiding this binary options program!

Review Verdict: Surplus Binary Consultant is a SCAM!

Blacklisted Website: surplusbinaryconsultant.com

If you have been scammed by Surplus Binary Consultant we urge you to leave your experience as a comment below! We would also to invite you to subscribe to our site to receive important news and scam alerts from us via email.

To learn how to better equip yourself by making more educated investment decisions make sure to check out our recommended online trading services.

Trade-24 is a fraudulent forex brokerage that has been misleading day-traders out of their deposits for the past few years. Neglecting withdrawal requests, forging alleged regulation licenses along with accepting zero responsibility for losing their traders funds are among a few of the experiences you can expect to endure at Trade-24. While some reputable review sites have started combating against this fraudulent investment operation the efforts exerted have not been enough to completely deter traders away from Trade-24.

Throughout our unbiased and indisputable review, we will reveal all the need-to-knows regarding this brokerage and why you should avoid this forex brokerage by any means necessary. It should be noted that in early January 2017, this brokerage released a statement claiming they were about to achieve CySec regulation to make amends for their past track record, but research will inform us that this brokerage has yet to be regulated still.

What is Trade-24?

According to the About Us page at trade-24.com, Trade-24 is an award winning online forex broker offering the finest user experience. Claiming that their main priority besides aiding investors to get started on a profitable investment path would be to provide the best customer service possible. For any of you who took the time to conduct a simple search regarding Trade-24 you will come across an abundant amount of feedback that directly contradicts the mission statement of Trade-24.

Who is Behind Trade-24?

Trade-24.com is allegedly operated by a company known as Moslok Limited, which apparently was registered at Spyrou Kypianou 57, M. Frangos Court, 3rd Floor, 6051, Lamaca, Cyprus. Several searches of “Moslok Ltd or Moslok Limited” across several Cyprus registers will reveal that no corporate entity known as Moslok Limited exists.

Which leaves the only identifiable information provided on the site to be demographic specific phone numbers along with a select couple email addresses. Naturally, no mention of the CEO, owners or operators behind this site are made available to the public. Not only does this lack of accountable information reflect poorly among this operation, but just goes to show that this brokerage is trying to remain an anonymous entity so they can continue fleecing innocent day-traders out of their deposits.

In addition to the live chat the two main email addresses used for communication with this brokerage would be [email protected] and [email protected]

Trade-24 Investment Platform

The platform featured at Trade-24 is powered by MetaTrader4, which is a reputable charting solution. The incorporation of the MT4 platform does not go on to confirm that Trade-24 is a secure and reliable investment operation but instead just indicates to investors that the investment of forex options are available. According to the site, the incorporation of CFD options have been integrated into the platform, although we have yet to come across any distinguishable CFD related options.

Trade-24 Account Types

A total of 5 forex account packages are available at Trade-24. Each of these account types are formatted in a tier system where the more you deposit the more incentives you are eligible to receive. Oddly enough though no mention of minimum deposits are elaborated on the site and if you engage with a live chat agent (which is a robot) you will not receive any viable answers either.

Silver Account

30% Bonus, 1 week free signals, 1 on 1 training, $15 fees per lot, along with a minimum trade size of 0.01. Traders have access to currency pairs, metals, energies, and world indices.

Gold Account

40% Bonus, 1 month free signals, partial access to educational center, all supported assets of Silver account with addition of Agriculture. Minimum trade size of 0.1 and $13 fees per lot.

Platinum Account

50% Bonus, unlimited free signals, full access to education center, all the perks of the Gold account type, minimum trade size of 0.2 along with $9 fees per lot.

Mega Account

All of the incentives of the Platinum account, free VPS service, signals are upgraded to VIP signals while trade size is 0.5 with $6 fees per lot.

ECN Account

Essentially the same perks as the Mega Account except for trade sizes vary between 0.01 – 0.2.

Popularity

A SimilarWeb report will inform us that trade-24.com has a global rank of 293,771 as of December, 2017. Over 50% of the site’s traffic comes from visitors who reside within Czech Republic, United Kingdom, Ireland, Spain and Germany.

Trade-24 Community Feedback

The investor feedback regarding this forex brokerage has not been encouraging in the least bit. Just about every recent user feedback we came across when researching was claiming that Trade-24 were thieves who scammed them. Feel free to browse just a handful of the endless number of investor complaints that we found when researching into this brokerage.

They are the best company in the world convincing people to get in and deposit money , afther that they are a big FRAUD !!!!!!!!

Trade24 is a CRIMINAL gang of THIEVES posing as a Forex trader and has STOLEN MILLIONS from unsuspecting clients, victims.AVOID these THIEVES like the plague.

stay away from this broker. They will not process your money for withdrawal. f*cking @$$holes. don’t trade with them. did not reply back on my emails and just wanted me to add more funds.

I have been totally scammed by trade 23 they have actually stolen $20,000 from me…WHEN I CALLED HIM HE JUST LAUGHED AND SAID CUSTOMERS ALWAYS COMPLAIN WHEN THEY LOSE…i have much more evidence regarding this company and will be talking to the fraud department.

“Stay as far away as you can get!…Just don’t go with these scammers !!”

Trade-24 Review Conclusion

Through the evidence provided in our review, we have no doubt in our mind that Trade-24 is a malicious scam operation that should be exterminated at once! Under no circumstances do we advice any investor to get started with this fraudulent forex brokerage. It is obvious that Trade-24 cannot be trusted and has resorted to solely stealing their investors deposits while exhibiting no signs of remorse. Do NOT invest with Trade-24!

Please avoid investing with any online brokerage that is not regulated or legal within your residing jurisdiction.

If your interested in legitimate alternatives we encourage you to visit our Forex Trading Guide to learn about viable and reliable investment opportunities.

Lastly, if you have been scammed by Trade-24, please inform us by leaving a comment below!

UniverseMarketsFX is an MT4-based Forex and CFD brokerage, which apparently maintains a sort of digital (binary) options branch too, hosted by a different website and backed by a slightly different corporate entity. The fact that the universemarketsfx.com domain has only been created in August 2017, does not help much on the credibility front, but it does explain why there are almost no reviews available on the brokerage, nor any proper user feedback. The binary options-focused part of UniversemarketsFX is hosted at universemarkets, which is also a fairly new domain, created just one month before the above mentioned one.

The companies behind the two websites/brokerages also differ a little. The one associated with universemarketsfx.com is called Square Trading Limited and it is a UK-based operator, registered under #NI648699. The company mentioned in the footer of universemarkets.com is called White Square Trading Limited. Both corporate entities are based at 131-151 Great Titchfield Street, London, W1W 5BB UK. For customer support, they provide different phone numbers though.

In light of the above, it is indeed safe to assume that universemarketsfx.com and universemarkets.com belong to the same owner, and they are essentially the offshoots of the same root operator.

What exactly does universemarketsfx.com offer though?…or: why should traders consider trading there?

For starters, the brokerage uses the MT4 trading platform, which is pretty much the best the industry currently has to offer in this regard. It also allegedly features advanced pricing and trade execution, and it peddles a wide and diverse range of investment products, covering Forex, Shares, Indices, Commodities, Cryptocurrencies and CFDs. MT4 provides a superb range of trading tools, such as advanced technical analysis indicators and charting options. Transactions are said to be protected by top-notch security and deposits and withdrawals are purported to be extremely fast. There’s educational material provided, and the support staff is responsive.

The operator also boasts “close partnerships” with some of the top financial news feed providers, and user funds are said to be used only for the purposes laid out in the Terms and Conditions section of the site (namely for FX and derivatives trading, by their rightful owners) and nothing else.

UniverseMarketsFX Regulation

While the broker observes strict KYC and AML policies, and while it does feature a proper Risk Disclosure Statement too, its website provides no information regarding any sort of regulation/licensing. What this essentially means is that we will have to assume the activity of this brokerage is not regulated in any way, shape or form, and there is no financial authority out there which oversees the business. This is a major problem indeed. In fact, this shortcoming alone is enough to blacklist the operation with most reviewers out there, and we are no exception.

UniverseMarketsFX Trading Products

The trading instruments section of the universemarketsfx.com website is a little confusing: it lists Shares, commodities and CFDs separately, but it turns out that all these categories are in fact CFDs, using different underlying assets.

Shares are essentially shares-based CFDs. They feature a maximum leverage of 1:100 – which is not exactly impressive.

Forex is where the best trading conditions are, and even these aren’t particularly attractive. We’re looking at minimum fixed spreads of 2 pips on major currency pairs, and more on the exotics. The maximum leverage on FX is 1:300 though, so it is indeed a tad better than on the Shares CFDs.

As one would expect, crytos come with by far the least attractive trading conditions. The maximum leverage on this asset-class is just 1:5. The cryptocurrency section plays host to assets like Bitcoin, Litecoin, Dash, and scores more.

On major indices, spreads start from just 1 pip. The maximum leverage one can use on indices is 1:150. For commodities, the maximum on leverage goes to 1:200, while on CFDs, it runs a range from 1:50 all the way to 1:300.

UniverseMarketsFX Trading Platform

As already said, the single platform used by UniverseMarketsFX is MT4, and it does indeed cover all the needs their traders could possibly have. Besides the above mentioned analytic and charting tools, UniverseMarketsFX’s MT4 offers on-chart trading, instant trade execution, market- and pending orders, trading history and stop orders.

While EAs are indeed among MT4’s better-known features, there is no mention of them at the UniverseMarketsFX website, nor is there anything said about the VPS service which usually accompanies the EA offer. It is therefore safe to assume that these advanced auto-trading features are not available at the brokerage – at least for the time being.

Stop Losses and Take Profits on the other hand are available, and they are advertised as risk management tools, a mold which does indeed fit them. MT4 can be downloaded for free at the UniverseMarketsFX website, and it comes with a selection of preinstalled technical indicators, to which users can always add more.

Should I Trust UniverseMarketsFX?

At this point, that’s difficult to tell. Unless the brokerage manages to get its regulatory status straightened out, for the time being, we’ll have to make that a “no.”

Red Flags and Question Marks

The tender age of the operation is definitely something that urges caution, though it should probably not be called a red flag. The regulatory status on the other hand is definitely a major problem, one that voids the point of even looking at further red flags and possible question marks.

Complaints

Given that the FX/CFD side of the business has only been online for about 4 months, the fact that there are no complaints available about it online is not exactly surprising, nor does it carry any sort of significance.

UniverseMarketsFX Review Conclusion

UniverseMarketsFX is not regulated. The discussion (and this UniverseMarketsFX review) should normally stop right there. There are other things too about the whole setup of the brokerage which make it seem not 100% right, but the fact that the entire outfit was just launched a handful of months ago, really begs for the benefit of the doubt here.

Also, the fact that UniverseMarketsFX is associated with a binary option brokerage is not a mark in the “plus” column either.