Another somewhat new binary options broker has come to our attention. In this review, I am going to take a close look at Ftrade. Owned by Binext Global Ltd who are headquartered in the Marshall Islands, we will tell you about this binary options broker including their short history. I will dive in to their terms and conditions. I will also tell you if Ftrade offers a demo account and mobile trading. And, I will tell you if I perceive Ftrade as a scam.Visit Website
- Utilizes the popular Spot Option platform
- Does not accept United States traders
- Not licensed or regulated
Deposit & Withdrawal Methods
- Company:Binext Global Ltd
- Incorporated:Marshall Islands
- Platform:Spot Option
- Minimum Deposit:$250
- Minimum Withdrawal:$50
- Minimum Trade:
- Demo Credits:
- High/Low, Pairs, One Touch, Ladder, Forex
- 30 sec, 60 sec, 90 sec, 2 min, 5 min, 15 min, 30 min, 45 min, 1 hour, End Of Day
- iPhone, iPad, Android
Ftrade is a binary options broker that uses the Spot Option trading platform. Traders have many ways they can invest including 60 second, ladder, long term, pairs and more. Signals are provided in many different assets allowing trades in stocks, commodities, indices and currencies. The front page of the Ftrade website does have an economic calendar that is kept up-to-date.
Ftrade is owned by Binext Global Ltd in the Marshall Islands and operated by their subsidiary, Binext Solutions SRL Ltd who is headquartered in Bucharest, Romania.
At this time, Ftrade is not licensed or regulated by any financial authorities.
The history behind Ftrade is quite short. In 2014, Binext Global Ltd in the Marshall Islands contracted with the developer of the Spot Option trading platform. They created the Ftrade binary option brokerage website using that platform, and in July of 2014 it went live.
Ftrade Terms and Conditions
One of the best ways to completely understand a binary options broker is to study their terms and conditions. I will give you some of what I found in the Ftrade terms, but before creating an account, I suggest you read them yourself.
- You must be at least 18 years of age to use the Ftrade services.
- US citizens are restricted on this trading platform from trading currencies and commodities due to US regulation.
- The financial information on the website is not to be considered financial advice.
These are just a few of the terms and conditions on the Ftrade website. Again, I suggest you read them completely before signing up.
Ftrade Withdrawal and Bonus Terms
The terms and conditions to withdraw from Ftrade, I assume would have the same stipulation that you provide certain documents before you can withdraw. These would include:
- A photo identification
- A utility bill showing your name and address
- A copy of the credit card used to deposit
The minimum withdrawal amount is $50, and the money will be deposited in the same fashion you made a deposit in the Ftrade system. The money will only be given to the person who originally deposited.
Ftrade does offer some attractive bonuses, but there are some stipulations traders must meet in regards to bonuses. If you accept an Ftrade bonus, to withdraw any part of it, you must make trades in the volume of 40 times the bonus amount. So, if you received a $100 bonus, you would have to make trades of $4,000 before you could withdraw. You should consider this closely before accepting any bonuses.
Ftrade Demo Account
From what I see, it does not seem that Ftrade offers any type of demo account. I do believe that if you requested a demo account from an account manager after creating an account and depositing money, they may be able to set you up with one.
Ftrade does offer a wide range of binary trading educational resources. These can be helpful for those who are inexperienced in binary options trading.
Ftrade on Mobile
I do not see where Ftrade is offering a mobile trading application as of yet. They do claim that for the best trading experience, you should use either Mozilla Firefox or Google Chrome browsers.
Ftrade Scam Watch
First and foremost, Ftrade is not licensed or regulated. That does not mean it is a scam, but with no licensing, you are taking a bigger risk. I will say that the Ftrade system does seem transparent and professionally designed. I also have not found any huge complaints with withdrawals on the Ftrade system yet.
I won’t say that Ftrade is a scam, but I will say that I would not risk my money with such a new and untested binary options broker. I will keep a close watch on this broker, and hopefully they seek licensing and regulation soon.
If you have traded through the Ftrade brokerage, please tell us your experience in the comments area below. Thank you.