Aliqigu Trade Reviews is Aliqigu.com a Scam or Should I Invest

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Is Olymp Trade a Scam or Not: A Real Review

There has been continued speculation as to whether or not Olymp Trade is a scam. As an options trading platform that is registered outside of the best known regulatory branches, it is an easy question to have. This article will answer your burning questions around whether or not Olymp Trade is a scam.

What is Olymp Trade?

Olymp Trade is a trading platform that allows traders to set options for currency pairs, commodities, stocks, indices, and cryptocurrencies. This means the platform allows traders to open a position predicting the price will go up or down. This is also known as binary options trading because a trader is typically only able to choose up or down. On Olymp Trades platform traders can also push, meaning they believe the price will remain the same.

Trade durations can be set in one-minute increments up to twenty-four-hours. Traders are able to see the percentage profit they will make for each trade before they place it. This allows them to pick the pairs that they best understand and will be most profitable. Upon choosing that the price will go up, down, or remain the same for a currency pair, index, or stock the money is taken from the trader’s account to cover the trade. Once a successful trade is completed the money is immediately credited to a traders account.

Unlike some other options trading platforms Olymp Trade does not take a percentage of trades, deposits, or withdrawals.

How is Olymp Trade not a Scam?

There is risk inherent within all trades; those executed on Olymp Trade’s platform are no exception. Olymp Trade is a member of International Financial Commission. This membership effectively insures traders on the platform, providing them protection from fraudulent activities on the part of the broker. To become a member, the Commission investigated Olymp Trade’s practices to determine it was not a scam. The International Financial Commission acts as a third party intermediary between the trader and Olymp Trade if a trader feels they have been cheated or scammed by the platform. If Olymp Trade scammed its traders each trader would be eligible to receive up to 20,000 Euro from the International Financial Commission.

Beyond Olymp Trade’s membership as mentioned before they do not have a typical pay structure. Unlike some platforms, Olymp Trade does not take a percentage of traders’ earnings, whether at the moment of the trade or upon withdrawal, charge transaction fees, or scam traders with hidden fees. With the exception of a small fee for keeping a position open overnight. Many people use this as their justification in their belief that Olymp Trade is a scam. Though there are few fees, Olymp Trade has a better way to turn a profit.

To better illustrate why Olymp Trade does not need to charge fees while not being a scam: two traders are placing opposing options on the platform; Charlie believes the price will go up and Rajesh believes the price will go down; they both open a $100 position for five minutes with the potential of earning 80%. At the end of the five-minutes, Rajesh is correct and $180 is added to his account. The $100 dollars Charlie lost is used to cover the $80 Rajesh earned, and the remaining $20 is collected by Olymp Trade. This is how Olymp Trade is able to charge few fees while not being a scam.

The money that is collected from opposing positions is used to create a reserve to handle any trades that do not have an opposite. Trading is risky; therefore most traders are not going to be correct with every option they choose. When a trader is not correct their deposit covers the earnings of someone whose strategy won out. There are maximum wager limits to ensure that all gains can be covered.

Olymp Trade is not a scam because it holds a reserve of money to pay out to winning bids if there is no opposing trade. This reserve grows with every wrong choice and since there are not 100% options: meaning you bid $100 and are correct you would receive $200, the reserve will hold.

What Else Should I Know?

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Traders can receive VIP status with qualifying deposits, granting them access to live advisors who respond in 15 seconds or less on average, higher earning potential, and risk-free trades. VIPs also receive access to exclusive webinars and trading strategies.

Payouts are quickly made directly to the bank account or e-wallet traders use to deposit money. Withdrawing funds is simple and are generally completed within 3 business days. There is a minimum withdrawal limit, but no maximum. With a scam, traders would not receive their money or be charged exorbitant fees drastically reducing their payout.

The user interface was made to be intuitive, easy to use, and understand. Olymp Trade provides educational materials on trend indicators and different strategies. A chat box helps deliver information about the many different topics. There are a continuously increasing number of videos and webinars on a range of topics. New ones come out often to keep traders up to date with the latest trends and platform changes.

To complement their educational material Olymp trade provides a free demo trading platform. New traders are able to set up accounts without making a deposit to the platform. Traders have a safe space to try and learn new strategies in a live market setting without risking their own money.

There is also an Analytics section. Technical analysis gives traders an opportunity to take an in-depth look at individual assets and pairs traded on the platform. The Economic calendar shows relevant events for the coming week. There is also a convenient section on Volatility as affected by trading times and what that means for the trader. Trading signals assist traders in making educated decisions based on compiled data.

In conclusion, Olymp Trade is not a scam. Trading is a complex world. Olymp Trade is a fantastic trading platform to learn on, perfect for anyone looking to experiment with binary options, even if only to practice strategies. Though as a platform Olymp Trade does not adhere to usual fee structures and money-making practices, it is not a scam but an innovator in the realm of options trading.

FTMO Trading Review: Is this a Scam?

FTMO Trading Review: Is this a Scam?

4 Comments

Last Updated: Jul 22, 2020 @ 10:48 am

Today we are analyzing a service that provides trading tools, education and potential funding for traders that can prove their trading skills, FTMO. The benefit of being part of the community, is that traders can use the company’s capital, while receiving 70% of the profits and not having to pay for any of the losses. The only other Forex trading service we’ve seen with a similar approach, is Earn2Trade.

Owned and operated by FF trader s.r.o with identication number 03136752. They are located at Opletalova 25, 110 00 Prague, Czech Republic, and can be contacted via [email protected], phone +420 773 010 372 or Skype ftmo.com. In the meantime, if you are here looking for real trading solutions that can change your life, this page contains some of the best resources used by professional traders all over the world.

The FTMO website and operators believe that up to 80% of success in trading is devoted to psychology and that their psychologist is here to help you improve your trading results. They have a trading psychologist on board named Nikola Pavlickova, the educated performance psychologist. They believe her lessons are critical to your trading performance. While there is nothing wrong with this, we want to focus on other elements of this trading operation.

FTMO Trading Review

The main reason for signing up with the FTMO trading course is for the tools and the funding. In order to receive funding, traders first have to prove their trading skill, by completing a 30 day simulated trading accounts challenge. During this challenge the trader has to meet certain risk management objectives, but the trading style is completely up to each individual and there are no additional limitations on the instruments or position sizes that are traded. The trading performance is always measured based on the “trading objectives.”

Trading Psychologist consultations, free for all FTMO Traders

The trading operation is providing free psychological training for their traders. Is revenge trading, over-trading or FOMO hurting your trading? No problem. Their performance psychologist helps traders to overcome their weaknesses and maximise their strengths. Thanks to regular consultations they can identify problems and consequently eliminate them. They believe that by offering these lessons for free, they will help the community to improve performance and life in general.

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The Funding Process

The objectives consists of the minimum trading days, positive days, maximum daily loss, maximum loss and overall profit target. In order to successfully pass the challenge traders have to meet these objectives. If an objective is not achieved, the trader fails the Forex trading course, and forfeits the €155-€540 challenge fee.

To be more specific, let’s look at the $10,000 initial capital objectives. In order to pass this challenge, traders need to trade for a minimum of 10 days during a 30 day period, with 50% of the days showing positive returns. Traders also have to keep their maximum daily loss below $500, the maximum loss on the account below $1000 and hit a profit target of $1000 over the course of the month.

Breakdown of FTMO

  • Type: Forex Funding, Tools & Education
  • Price: €155-€540
  • Tools: 5
  • Compatibility: MT4, MT5, cTrader

Despite the fact that traders complete the challenge on a demo account, the FTMO group charges a challenge fee which ranges between €155-€540, depending on the initial capital chosen. $10,000 initial capital costs €155, $25,000 initial capital costs €250, $50,000 initial capital costs €345 and $100,000 initial capital costs €540. The amount of funding the trader gets is in direct correlation with the initial capital they choose. So, if it trader chooses $100,000 initial capital, that’s the amount of funding they look to gain if they successfully passed the challenge.

If you don’t succeed, FTMO takes the money, and you can try again. It’s a pretty solid business model, considering that most Forex traders are unsuccessful, and even though the trading objectives don’t seem difficult at first glance, they certainly are.

FTMO Tools, Education & Training

The FTMO challenge wants the traders the take part in their Forex funded programs to succeed, because the more successful clients they accrue, the more money they make. In order to help traders succeed in the challenge, they have included a handful of different tools built to help traders better analyze their approach, and make the necessary adjustments in order to meet the trading objectives.

The program comes with an Account MetriX tool which is “an innovative and unique web application,” used for monitoring progress. This tool doesn’t look that in depth, and isn’t something you can’t get from a normal Myfxbook account upload. There is also a statistical application, which does different mathematical calculations to help traders make better entry and exit decisions. The next tool is a mentor app, which is built specifically to enforce rules and risk limits. Then, there is a trading journal to help traders report their wins and losses. Lastly, is the account analysis tool which is built to help traders take a close “unbiased look at their trading results.”

None of the tools seem overly impressive, but it is an important fact to recognize that the developers of this Forex funding program does want their clients to pass their challenge.

Client Feedback on FTMO services

There isn’t too much in terms of client feedback at this point in time. What I’m most interested in, is finding some traders that have successfully completed the challenge and are now funded, but there is really no verifiable proof of this. There is a thread on Forex Factory, but despite going through many of the pages, I haven’t had much luck in finding many real traders with their funding program.

Our best advice for you

Despite doing a fair bit of analysis and research, we still sit on the fence when it comes to the FTMO challenge. In order to know if this is a viable Forex funding process, we need to see more real clients that have successfully passed through the challenge. There are a few comments being made in the forums, but we would like to see verifiable proof in terms of Myfxbook accounts or something similar. Meanwhile, we still believe that these products win hands down. If you’re serious about trading, try them.

How to identify Forex scams

Just like any other financial market, the Forex market has been a target of Forex scammers for a very long time. Unethical behaviour, promises of unusually large profits without any risk, and the advertisement of “holy grails” are all signs of a Forex scammer who wants to make a profit from naïve traders. Fortunately, there are easy ways you can identify a Forex scammer and protect yourself from their misleading promises. In this article, we’ll cover exactly that, and show you how Forex scammers operate.

How to identify a Forex scammer

Forex scammers may come in different forms, but they all share one thing in common: they’re non-transparent, unregulated, and promise trading results which sound too good to be true. Beginners may have a hard time identifying these characteristics due to their inexperience, which is the main reason why beginners are often targeted by Forex scammers. As you gain trading experience along the way, it will become significantly easier for you to spot these unethical practices and protect yourself from Forex frauds.

If a trader promises hundreds of pips per day without any risk, or tries to sell a trading robot which makes thousands of pips with the click of a mouse, you should be very cautious about that offer. If a trader really had an extremely profitable trading strategy or trading robot, they wouldn’t have to sell that system to other traders, right? They could simply make hundreds of pips with their system and wouldn’t waste their time advertising their product to other traders.

Regulation, or rather lack of it, is also a very important sign of a Forex fraud. Check whether the company which promises unusually high profits is regulated by scrolling through its website. Regulated companies always showcase their licence or regulatory authority on their website, and if you’re unable to find this information, you’re probably dealing with a fraud.

Here we’ve prepared a short checklist of the main points you need to look for to identify potential scammers:

  • Does the trader or company promise extremely high profits and doesn’t mention any risks associated with the strategy? If so, it’s probably a fraud.
  • Can you find information about the company’s regulation on its website? If not, be cautious when dealing with the company.
  • Can you find any additional background information about the trader or the company?
  • Does the trader have their trading results verified by a third party?

These signs, and more, will be discussed in more detail in the following lines.

Additional signs of Forex scams

There are many more ways of identifying Forex trading scams, such as trading results which are not verified, emails that ask for personal information, or the unavailability of background information.

  • Unverified trading results – This scam is very popular with Forex signal providers. A trader will claim that they are constantly profitable on the market, and post screenshots of their trading performance on social media. The trading results often show extreme profit, sometimes even without a single losing trade. Beginners without trading experience are especially attracted to these types of scams as they don’t know how much profit to expect when trading. Needless to say, you should be very cautious when someone makes their trading results publicly available. Ask the trader if the results are verified by a third-party provider, such as myfxbook. If the trader refuses to provide you with a link to their verified results, simply forget about that trader and choose another, as it is highly likely that they are a fraud.
  • Unprofessional emails – Unprofessional emails are another obvious sign of an online Forex trading scam. Email marketing is very common these days, but if the tone of the email sounds unprofessional or if the person asks for any personal information, it’s probably a scam. Forex scammers often use email lists bought on the dark web to send hundreds, or even thousands of emails to traders, offering various trading products. Again, make sure there is background information about the person sending the emails – or if it’s a company, check that it is regulated by browsing its website. If you are unable to find any of the above, and the emails ask for personal information to send you a “free e-book” or something similar, it’s probably a scam.
  • No background information – We’ve already mentioned the importance of checking for background information about a trader or company that promises extremely high profits or asks for your personal information. Scammers often change their identity and act under an imaginary name, so that their victims can’t track them on the Internet. It’s also common for scammers to use pictures of traders found on the internet, claiming that the person in the picture is them.

A simple Google search can help you out a lot. Search for the name of the trader or the company and see whether you can find any background information that proves the scammer’s claims. If you’re dealing with a serious company or trader, you may also be able to find reviews from other customers who have used their services. Always do your research to avoid falling for this type of scam.

Protect yourself against Forex scams

Now that we have covered the most important signs that identify a Forex scammer, it’s time to take a look at ways you can protect yourself. Being cautious about any offer is usually the best solution, but there are also some additional ways.

  • If it’s too good to be true, it’s probably a scam

Common sense helps a lot in these situations. If someone claims to make hundreds of pips per day without a single losing trade with their strategy, it’s probably too good to be true. Even professional traders have losing trades from time to time. If the results are not verified by an independent third-party service, you’re most likely dealing with a scam.

Nothing is more powerful than knowledge. Scammers usually target beginners who don’t have enough trading experience to identify what returns are realistic on the market. Education doesn’t come overnight, but with time you’ll find it way easier to spot Forex frauds even from a distance. Invest in your trading education and gain experience, and you won’t become an easy target for Forex scams.

Never give out your personal information! Scammers may use it to steal your identity and to attract new victims under your name. Always ask yourself – why do they need my personal information? If there is no obvious answer to this question, don’t send any personal data and stop wasting your time with the company. It’s very important to know how to protect your personal information. Regulated companies have to store all of their clients’ personal information, such as ID cards and passport copies, in a safe place and can only use the data for their internal procedures.

Finally, if you’re unsure whether a company is regulated or not, your best bet would be to directly contact the regulatory body of the company’s jurisdiction. You’ll first need to find out the location of the company in order to reach out to the regulatory body of that country. Many regulatory authorities feature a database of regulated companies on their website, where you search and find additional information about the company’s license. Popular regulatory bodies in the Forex industry include the FCA in the United Kingdom, CySEC for Cyprus-based companies which offer their services in the European Union, and the CFTC and NFA in the United States.

Conclusion

There are scammers and unethical persons operating across all markets, and the Forex market is no exception. There are many signs of Forex trading investment scams that can be used to identify and uncover a scammer, such as promises of extremely high profits without verification, the absence of any industry regulation, unprofessional emails which ask for personal data, or the unavailability of background information. Always perform detailed research on these points before you buy a trading product. In addition, make sure to educate yourself about trading, since scammers usually target beginners who aren’t experienced enough to identify unrealistic trading results. If an email asks for personal info, never provide the information right away, but first check why the person or company needs your personal data. You should send copies of your ID cards or passports only if you’re sure that the company is legit. Performing a check on the regulatory body’s website to see whether the company is listed in the database is also a wise decision. To perform the check, first find out where the company is located and go to the website of the regulatory body which governs that jurisdiction. If the company is not listed in the database of regulated companies, it’s probably a scam.

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