FTrade Review

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FTrade Review

FTrade

Broker FTrade
US Traders Accepted
Company Name BINEXT SOLUTIONS SRL LTD.
Headquarters Romania
Regulation No
Bonus Type Match bonus
Bonus Size 100%
Max Payout 81%
Out-of-Money Reward 10%
Trading Platform SpotOption
Deposit Options Credit/debit cards, wire transfer
Deposit Currencies Euro, US dollar, British pound
Minimum Deposit $200
Minimum Trade $25
Maximum Trade $2,500
Online Since 2020
Trading Instruments Currencies, commodities, stocks, indices
Number of Trading Instruments 58
Binary Option Types High/Low, Pairs, Long Term, 60 Seconds, One Touch, Ladder, FX/CFD
Customer Support Types Web form, email, live chat, phone, paper mail
Education Offered How-to pages, glossary, FAQ, market reviews
Tools Offered Double up, rollover
Languages English, Russian, Arabian, Turkish
Demo Account No

FTrade is a SpotOption white label broker operated by a company called BINEXT SOLUTIONS SRL LTD, located in Romania. This company in turn is a subsidiary of BINEXT GLOBAL LTD, itself located in the Marshall Islands. FTrade is unregulated and accepts customers from the USA and around the world. US customers are restricted from trading currencies and commodities (which is an CFTC rule). As of right now, this broker appears to be neglecting their site, so I would not recommend trading with them. Still, I would like to give a rundown on their services in case they can pull it together.

Depositing and Withdrawing on FTrade

If you want to open an account on FTrade, you will run into problems right off the bat. As of the time of this review, if you try to fill out the form and register, you get taken straight to a “page not found” notice. So that is no good.

In theory, if you could register, you would be able to get started with a minimum deposit of $200 (account currencies include US Dollar, British Pound, and Euro). You can make your transfer via credit or debit card or wire transfer. On the bright side, there are no fees associated with withdrawing money, only a $50 minimum threshold. No other limitations are discussed anywhere on the site. One nice thing about FTrade is that they bluntly state in their Terms and Conditions that there are no withdrawal fees—they do not leave you to guess. A lot of brokers simply do not say one way or the other what they charge.

Sadly, this company does leave you to guess with reference to account tiers. There are none listed anywhere on the site. If you navigate to the “About” page, there are a number of tabs along the side. Some of the pages they link to discuss accounts as if different tiers are available for individuals and corporations, but there is no sign of them, so they may be under development (or simply neglected). Either way, you do not really know what you are signing up for. You simply have to hope that FTrade provides.

Trading on FTrade

As mentioned earlier, FTrade runs on SpotOption technology, which is the most popular white label software around for binary options. It is incredibly easy to use, and if you have traded on another site before, you will already know your way around. You can trade on FTrade on your desktop or laptop. I was unable to locate an app for iOS systems.

The minimum trade size on FTrade is $25, and the maximum is $2,500. Both the lower and upper ceilings are a bit higher than is typical for the industry, but still very much in line with standards. Fifty-eight different currencies, commodities, stocks, and indices are available to trade. One thing that FTrade does offer is a reasonable amount of diversity when it comes to types of options: High/Low, Pairs, Long Term, 60 Seconds, One Touch, Ladder, and FX/CFD.

Not a Lot of Other Features

Sadly what stands out the most about FTrade (aside from the buggy site design) is the utter dearth of features and resources. For example:

  • There is no demo account for you to use to practice trading before you trade live with real money. This is not a feature which is universally available on binary options site, but it is a very good one, and when it is lacking, I am never impressed.
  • While educational resources are promised in some of the “About” pages, the site does not actually deliver. I was unable to find anything more than these basic informational pages, a glossary, and a Frequently Asked questions page. There was no sign of an eBook, video tutorials, or anything else save for market reviews. Stating that resources are available but providing no resources does not do much to build my confidence in this broker at all.
  • Aside from double up and rollover, I found no other trading tools like early close, social trading, or signals. All of these are very helpful for guiding traders and assisting them with making smart trading decisions. You have next to no control here.
  • There are apparently bonuses for deposits as well as referrals, but the website fails to mention how much they are. A number of affiliates mention a 100% match bonus, so this may be the amount. Still, all this vagueness in the way of promotions is unhelpful and not very promising.
  • The customer service page lists a web form, email address, and phone number, as well as a link to live chat. If you click the link to chat with someone, nothing happens. There isn’t even a window that pops up. So there is no fast and easy way to get a hold of anyone.

This Broker Falls Short All Around

Unfortunately it is hard to find much at all that is positive to say about FTrade right now. The only thing I can cite that is really great is the fact that there are no withdrawal fees and the company spells that out. Perhaps I could also point toward their acceptance of USA traders while still managing to observe CFTC rules. Many overseas brokers simply do not read the fine print in the CFTC rules and understand them at all.

Aside from that, all I can really list is negatives, but I see no reason to run through the list again since I just did it above. Right now, one gets the impression that FTrade was a project left unfinished. FTrade really needs to polish up their website and get everything in working condition, and they need to provide something solid in the way of features, resources and benefits. Until then, they will sink into the morass of half-baked white label brokers that have yet to establish any sort of individual identity or standout services that help them rise above the crowd.

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FTrade Review

FTrade is a somewhat new entrant in the Binary options brokers business having begun its operations in 2020. The company is under Binext Global Ltd and operates from their main offices in Anguilla, Marshall Islands. According to their website, they have 100 staff in their offices in Anguilla and the one in the UK. In this review, we put forward all the facts about the self-proclaimed World’s Best binary options broker and try to find out if it’s true or if they are the exact opposite.

First off, the FTrade trading platform is the innovative and well liked SpotOption platform which in this case is available in English, Arabic and Russian languages. To this effect, the awesome user experience on this platform should not be credited to FTrade as it is the full effort of SpotOption and FTrade do not add any significant value to it to make it unique. But we have to admit that the system is put forward in a simple, clear way with a user friendly interface designed to make your experience trading in binary options and robots enjoyable. The bonus rates are fairly good and the average returns of above 81% are largely the same as with other brokers.

FTrade do not have any license from any financial regulator and haven’t made any move to do so yet, a big red sign here. In other disappointing news, traders from the United States should not consider FTrade a choice as it is not legally permitted to accept clients from there. Tough luck!

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    FTrade Review

    You had most probably read through hundreds of reviews on trading on the SpotOption platform but that varies depending on the broker as each firm can add or remove features from the platform to make it suit their plans. FTrade has done neither of those and their trading area is what you would normally expect to find on a SpotOption platform. You will find the usual binary options like High/Low and the SpotOption specials One Touch, Long Term and Ladder. To break it down, High/Low also called the call/put option is where you put your money on whether a given asset will rise or fall in value at the end of the specified time. In One Touch, it applies the principles of high/low but in this case the time frame does not have to expire as the value needs to only hit your given strike price once for you to get returns.

    The long term option is a favorite of pro traders who are not into making rash decisions and want the asset’s performance in the market to twist and turn and finally hit their predicted price value. Due to its high chances of raking in big payouts, more and more traders are adopting this as a mid to long term investment.

    The smallest trade you can make with FTrade is $25 but the 60 Seconds option is open to trades of as little as $5. This is attractive to the traders who are not yet sure about the credentials of FTrade and want to test them out without risking too much of their money.

    Another thing to note is that the SpotOption platform is 100% based on the web and no download whatsoever is required, just a password and an email for login purposes. This is a good thing as anyone with an Internet connection can trade in the system in whatever Computer they have access to. This just screams convenience and flexibility in it and is a good development especially to traders who keep traveling about.

    ft trade main page

    Mobile Trading

    Realizing the importance of mobile gadgets like phones, iPhones and tablets, FTrade have duly created a mobile app with more or less the same features with their web platform. The only difference being that the app is tailored for use in the small mobile screens.

    Through the app, as with the web version, you get regular market updates and binary signals free from the broker, access to well detailed charts and graphs, your full trading activity report for a certain period and also be able to monitor the trades using the complex algorithms present.

    On your mobile phone you can get more information on an asset that you wish to trade in and also get to choose the Binary option you want and make trade(s), all from a simple swap on the screen.

    Types of accounts

    Bad news for new traders here, FTrade does not have demo accounts which beginners are recommended to try out as a learning material and to test whether the features appeal to them or not. That notwithstanding, there are several account types offered by FTrade according to the deposit amount. Registration is free by the way.

    1. Mini account – The most affordable and easiest to open account at FTrade with a minimum required investment of only $200. The bonus for this is set at 20%
    2. . This is kind of small but you wouldn’t expect more from a basic account. You also get some basic education about binary options, what it is and trading terms used.
    3. Basic account – It goes for $500 for which you are awarded 30% bonus and you are eligible to receive the next part of trader education from the Education Center. Other benefits include the candlestick charts which are pretty helpful.
    4. Standard account – This is the account for semi pro traders and to some extent even beginners and experienced traders will feel at home here. To open a standard account you will need an investment of $1,000 of which the firm will pay you 40% as bonus. The educational materials found are more advanced and include one on one professional training in strategy and bankroll management. On top of it all, you get a personal account manager.
    5. Executive account – Coming For $5,000, this account is for the boss traders and comes with advanced learning material, personal broker, 3 trading strategies and get all your trades professionally analyzed. Not forgetting the 50% bonus on the deposit.
    6. Corporate account – The most lucrative account available will set you back $10,000 in initial investment and get paid back 75% of this in bonuses. What’s more, you don’t have to sign up with personal details, your company name and email is enough to set up the account. All the features of Executive Account are available here with only a slight difference in the bonus and the returns from trades.

    Apart from bonuses on deposits, FTrade rewards you for referring your pals through their “Refer A Friend” program where you get bonuses as high as $50 when your “friend” opens an account and makes a deposit. This is a good way to increase your account balance with zero risk.

    Assets

    The number of assets that FTrade deals in, currently at around 60, is definitely not the best or the biggest in the market, in fact it is on the small side. But recent developments indicate that they can, and truly have, improved over time. The more than 60 assets are generously split into the usual 4 categories by name Indices, Commodities, Forex Pairs and of course stocks. Over the few years they have been around, FTrade have upwardly reviewed their asset list to include popular and more appealing assets such as stocks of big global multinationals like Google and Ferrari. We are hoping to see them adding more and more to that list so as to compete favorably with other brokers with even larger asset indices.

    ft trade trading

    Banking

    The minimum deposit amount into your FTrade account is $250 which falls perfectly on the average minimum all brokers require for first deposits. The bonuses on that are largely dependent on the type of account you hold. However, the more the deposit the more the bonuses you get irrespective of the account type. As with most of the brokers, credit card deposits are accepted using the primary card providers like MasterCard, Visa, Maestro and the rest. If you are the traditional type, you can deposit funds to your account using the more conventional bank wire transfer while the fancy tech savvy traders can make use of various ewallet money transfer methods such as WebMoney.

    The broker fully assures you full security for your finances as it has tough Anti Money Laundering policies in place and their banking software uses the modern SSL technology which is being used by banks worldwide to secure their systems.

    The withdrawal process is always a strictly controlled one across all brokers. First you will be asked to provide due identity documents like a valid passport, driving license or a government issued identity card and a utility bill that has your name in it and has been mailed to your current home address and which should be at most 3 months old. Accepting the bonuses given out by the brokers naturally comes with its own conditions one of which demands that you make a trade volume of about 30 to 40 times the bonus amount. Most people, even with other brokers, disregard this clause and go ahead to loudly complain how the broker locked their money in after accepting the bonus.

    Withdrawals generally take less than 5 business days to be processed after all the withdrawal terms and conditions have been met and identity verification is made. This is a big miss by FTrade as we expected them to have fast withdrawals for the simple reason that they are a new firm.

    Education

    As binary options grows and attracts more people, the need to educate these people on the fundamentals of Binary options trading also grows. Every broker has a responsibility of making educational resources available to new traders especially as it is a win-win situation for both of them when the trader is well informed. FTrade has invested heavily in its education center to turn it into a spring of knowledge for their clients. There are numerous videos on different aspects of the trade, tutorials and eBooks are featured heavily and address a variety of issues from introduction to binary options, to best winning strategies to employ, to how to manage your money.

    Personalized one on one training for premium account types are also available. In these, the trader gets educated based on his/her level of experience with less experienced traders getting basic introductory education which gradually becomes advanced as they gain more skills and experience.

    Customer care

    In any review of Binary options brokers, it cannot be deemed complete without looking at the customer service, which is above all the most important feature of any legit broker. FTrade provides support to its clients for a select number of hours per day, nothing wrong with this but if they want to retain and attract members they should consider making 24/7 support a reality.

    Anyway, there are several ways you can contact FTrade and one of them is via email at [email protected] This doesn’t assure you of the fastest replies out there but a little patience always helps. Voice calls can be made to their UK phone number +44 203 318 1472 or you can live chat by visiting FTrade.com.

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    Conclusion

    We must give props to FTrade for coming in and claiming a part of the market in such a short time. They are not a perfect fit but they have made, and are continuing to make major improvements to their features and services.

    You are advised to go through this, and other reviews from customers themselves before you make any decision for or against FTrade. It is very tricky dealing with unregulated brokers as taking legal action against them is next to impossible.

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