Is FXOptionTrade a Scam Broker?
FXOptionTrade is a rather generic name, which is usually not a great sign. This broker sounds as if the words ‘forex’ “option” and “trade” were just awkwardly combined in a way that would lead some consumers to believe they were offering real services. However, the FCA has exposed FXOptionTrade as a fake broker and a clone of a registered broker.
Is FXOptionTrade a Scam or Legit Broker?
Clone scams unfortunately are very common, and the FCA, the top UK regulator, works to expose many of them and warn the public against them. Clone brokers often copy websites and create similar-sounding names to brokers that have licenses. The aim is to fool consumers into believing that they are signing up with a registered broker. The website should show this isn’t a solid broker, because of the weak content and the extravagant guaranteed returns. No broker can guarantee returns from risky assets.
Here are some problems we have discovered from our research on FXOptionTrade and reviews:
- No license
- Warning from the FCA
- Cloned site
- Weak content
- Guaranteed returns
- No contact information
ChargeBax experts have examined FXOptionTrade and suspect it may be a scam. If you want to trade, do some research and select only a regulated broker. If you need assistance finding a reliable broker or require fund recovery from a scam broker, consult with our professionals right away.