Opinion about EZTrader

IMPORTANT: Trading with binary options has recently been banned. However, in our domain you will find an entry with the best online brokers of 2021 to help you choose a portal that suits your needs while ensuring secure transactions and operations.

EZTrader is a broker that allows you to invest in binary options, but is it legit? We have analyzed its licenses, the regulations it follows and its terms and conditions and we can affirm that effectively this is a scam-free broker . In fact, it has an interesting offer of underlying assets and we consider it a good broker to invest in.

In this article we break down our complete analysis about this investment platform and explain why we assure you that it is not a scam. But we also give you a good general idea about the rest of its features, such as the investment offer, the functionality of the website and even the customer service. If you want, you can also take a look at our list with the best binary options brokers .

Our experience with EZTrader

When investing in a broker there are three fundamental factors. The first is the security . If this factor fails, no matter how good the other two are, it will be better to look for another broker. The second is the investment offer of the platform. A good offer should allow us to invest in different markets in terms of both type of economic activity, and geographical. The third factor is how easy he makes it for us broker to invest . In a situation of pressure, in which a few seconds can make all the difference, having a website with a good design in which there is no room for confusion between buying and selling is essential.

The broker that concerns us in this review fulfills well in the three factors mentioned. Regarding the most important, security, you will find all the details in the next section, however we already tell you that it complies with the dollarpeas regulations.

Through the website of this investment company you have access to binary options on commodities, indices, stocks and currency pairs. It should also be noted that it has mobile apps to invest from anywhere and that customer service can assist you in Spanish.

EZTrader: Is it a scam?

To resolve doubts about the possibility that we are facing a scam, we have analyzed the entity's licenses. In this case we have no doubts about the safety of it, and we can affirm that it is not a scam. Since the name of the website is nothing more than a trade name, it is convenient to know that the official name of the company is WGM Services Ltd . Its headquarters is in Cyprus, specifically at the address 11, Vizantiou Street, Office 401, Strovolos, CY-2064 Nicosia and is registered with the Cyprus Securities and Exchange Commission (CySEC) with the number 256991 and has a license issued by that same entity with the number 203/13 . This fact implies that the company has the obligation to be a member of the Investor Compensation Fund, in such a way that if it fails to comply with its obligations, regarding the activities registered in its license in the CySEC, the fund would answer for them, with a maximum limit of $20,000 per customer . In other words, in the hypothetical event that the company had an insolvency problem, the money of private clients would be guaranteed by the aforementioned fund.

In addition, economic transactions between the bank and the broker are protected by a SSL encryption , and before anyone can withdraw money from an account, identity checks are carried out. One detail that we like is that the company it doesn't store your full credit card number when you make a transaction. This has the small drawback that you will have to rewrite it every time, but it is certainly a guarantee that no one will be able to use your card without your collaboration. For these reasons and the added in the security section, we affirm that it is not a scam.

As a small detail to older, the company is a sponsor of the football teams Roma and Tottenham. This does not mean that it is more or less safe, but it is true that scammers do not usually spend money on such important sponsorships. As we say, if it were an isolated fact we would not even mention it, but added to the licenses and regulations it is another small dose of confidence.

EZTrader offer

The offer of EZTrader is within the middle range of binary options brokers. If you finally choose to choose them as your investment tool, you will see that you can choose from a good number of binary options on the main asset types: stocks, currency pairs, commodities and indices. It also has an educational section that has videos and PDFs to remember the basics of investing. As for the variety of types of binary options, there is also a good offer that we detail below.

Binary options trading

The offer of underlying assets to invest using binary options available on this website is acceptable. Within the shares of companies or ETFs, you can invest in 29 belonging to the american market , 30 of the dollarpeo , including the New Zealand companies Banco Santander, BBVA and Telefónica, and 16 of the market Asia . You can also invest in 24 indexes , one of which is the selective New Zealand IBEX35; in 4 raw materials : gold, silver, copper, oil and 15 currency pairs .

When it comes to binary options classes. Here you can invest in classic options with 60-minute maturities ranging from 15-minute intervals, fast options with 60, 90 and 120-second maturities and long-term options with weekly, monthly and annual maturities.

Offers and bonuses

The truth is that the granting of any type of welcome bonus is not currently announced. However, in most cases it does grant it. They will usually offer you a bonus if your first deposit is more than $1100. That is why it is important to access the “bonuses” section and check if the option to accept the bonus is checked or not. Bonuses can be without income or proportional to a deposit. The same conditions must be met in both cases.

As you can see in the table above, in order to withdraw the bonus you will have to trade its multiplied volume by 40 within 90 days . This means that if you receive a $1000 bonus, you will have to trade a volume of $40,000. In such a way that if there are losses, it is understood that you lose your money first and then the bonus money. That is, if for an income of $ 1000 they give you another $1000, you will have to trade $40,000. If at any given time you want to withdraw the money without reaching that volume there will be two possible cases. If you have had losses, you will be able to withdraw the money you entered minus the losses. If you had had winnings, you will be able to withdraw the money you entered plus the winnings, but not the bonus. In the event that if you had completed the required turnover, you could add the bonus money to those amounts.

Payment methods

Making an income is a quick and easy process. Just go to the top right corner and click on “Deposit”. You will arrive at a screen where you can choose the deposit method you want: bank transfer, credit or debit card and some electronic wallets. In any case, the most convenient thing is to do it by credit card, since it will also make things easier when withdrawing money.

Withdrawal of money is possible by bank transfer with a commission from 13 $ and credit card, no commission. Before making it, there will be than to perform an identity verification process . In it you will have to send a copy of the identity card or passport and a copy of the credit card in front and behind (you can cover the first numbers of the card and the three security number).

Security and regulations at EZTrader

Being registered with CySEC, the entity is obliged to comply with Cypriot investment laws, including the Cypriot Investment Services and Activities and Regulated Markets of 2007 . The most important security implications of all this are that the broker must take all measures in his power to avoid conflicts of interest. In the same way, the company must ensure the best possible execution of the client's orders for the client's interests. Precisely, another of the important Cypriot regulations that you should follow is the CySEC DI144-2007-02 , it stipulates important transparency requirements for brokers, which affect both their terms and conditions and their commercial communications. All this under the umbrella of the dollarpea regulation, specifically the MiFID directive, to which Cypriot legislation is perfectly adapted.

As a complement to this, and since the company also offers its services in New Zealand, it is registered at the CNMV since April 1, 2014, with the number 3686 in the category of Investment Services Companies of the New Zealandrpeo in Free Provision. It also appears in the registers of the financial authorities of the following countries: Sweden, Slovenia, Slovakia, Romania, Portugal, Poland, Norway, the Netherlands, Malta, Luxembourg, Lithuania, Liechtenstein, Latvia, Italy, Iceland, Ireland, Hungary, Greece, Germany, France, Finland, Estonia, Denmark, the Czech Republic, Croatia, Bulgaria, Austria and the United Kingdom.

Customer service

With regard to customer service today, let's say that it reaches the minimum. If you need to contact them instantly, you can do it by phone by calling the number +34-931-845-562 that will be charged at the national call price, or will enter into your flat rate to national numbers if you have it. Although they advertise it in their contact section, at the moment you do not have the possibility to contact them via live chat. They say that the customer service is 24 hours and you can effectively get in touch with them at any time by writing in their contact form or to the email [email protected] . Another thing is how long it takes them to answer, which can take up to two days. It gives the feeling that they are planning to implement live chat again and when this happens their customer service will improve markedly.

Functionality of the website

The website of this broker stands out because the investment platform is somewhat different from that of most other brokers. It is because they have developed it themselves and therefore it is exclusive. The main difference is that instead of having a central box with the underlying asset and the call and put buttons, here we will have the buttons in the right side column. To change the asset type, we will only have to select it in the left column. Although there are small differences with the traditional system of other brokers, the truth is that this type of organization allows you to find the desired asset faster than with the typical tab model. In the negative section it should be noted that there are certain sections of the website that have not yet been translated into New Zealand. However, the fundamental sections, and everything that has to do with the investment platform, are.

EZTrader mobile app

To be able to invest from anywhere the broker has an app for Android and Apple devices . They can be easily downloaded from iTune and the Play Store. In any case, the application should improve in terms of stability and clarity of use. Fortunately, the broker also has a mobile version of its website, which will allow us to interact in a more stable way.

Finding

In conclusion, EZTrader is not a scam . The company is registered with the CySEC and also with many other dollarpean financial authorities. Therefore, we know that client funds are guaranteed up to $20,000 and that the broker must maintain a strict transparency policy, as well as always respect the interests of its clients when it comes to order execution. In addition, although it is not advertised, it offers welcome bonuses to new users, usually on condition of making a minimum income. It also highlights the fact that it has developed its own investment platform. In summary, in our opinion it is a good broker that is in perfect conditions to compete in the New Zealand market.