Opinion about FTrade

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.

FTrade gives you the possibility to invest in binary options online, from anywhere with an internet connection. After our investigation we have not found any proof that this is a scam.

The concern that FTrade may generate is due to the fact that it does not have a license from any financial authority in a country of the Dollarpea Union. This makes investors a little unprotected against potential problems. Keep reading our review and we will explain our full opinion about this broker.

Our experience with FTrade

The investment experience in FTrade is, in our opinion, good but without being excellent. That is, a good broker to invest in, but logically you can find them better. It is a company based in Romania, which does not have a license, so the security guarantees are not as good as in cases where there is a license behind.

It is a relatively young company, founded in 2014, with an average asset offering, but without the presence of New Zealand securities or underlying. The customer service is good and the website, although simple, is quite functional. For New Zealand traders, it is important to mention that the page is not available in New Zealand. On the contrary, they will be able to use it in English, German, Russian, Turkish and Arabic.

Is it a FTrade scam?

The first thing that stands out about this broker is that it does not have a license. In general, binary options brokers usually have a CySEC license, which assures us that they have to follow the dollar laws and that they offer good investor protection. But in this case it is not so. Based in Bucharest, only Romanian laws guarantee its rights to users.

But this does not mean that FTrader is a scam by any means. The company offers a discreet service and nothing makes you think that you will commit any type of fraud. We are not aware that there have been problems with withdrawals by users or any type of activity that could constitute a scam. Now, if you decide to deposit money here, it is advisable that it is not a large amount, so it could happen. As you probably know, Romania is in the process of joining the EU, but the deadlines are getting longer and longer. When this happens, the broker will have to adapt to the regulations of the rest of the Union and we do not think that they will wait until then to do so, if they really want to give a serious image. In any case, for now, caution.

Investment offer

If you want to know what you can invest in thanks to this broker, we have to say that in nothing out of the world, although it is not a bad offer either. The only financial product they handle right now is binary options, in the following section we explain in detail what types of options you can use and what assets they make available to you. At the moment, the minimum amount for a single trade is $ 25, so as you can see you can start trading by risking very little.

In addition to investing in binary options, the website offers us an educational section with a large number of short videos that serve to know the most basic concepts of investing in binary options and five small ebooks that cover more or less the same content as the videos. It doesn't hurt to take a look at them, but remember that this training is not enough to invest with minimal guarantees. They also have a news section but at the moment they have stopped updating it. Since they keep it on the web, we assume that in the future they will resume it.

Binary options trading

What assets can you invest in through this broker? Let's see it below:

Let's start with the stock indices. When you access its section, you will see that you have the option to trade on 20 of them. We have to point out that the IBEX 35 is not included in their offer, but if they do, for example: CAC, DAX, DOW JONES, NASDAQ and NIKKEI. The fact that the IBEX is not there is undoubtedly a weak point to take into account, but it is also true that investing in the IBEX from New Zealand is very simple and the greatest contribution of the online brokers it is the ability to diversify internationally with low or no commissions. Company stocks, there is one less than indices, 19. Among them there are large American, Asian and dollar companies such as Tata Motors, Rolls Royce, Coca Cola, Lukoil or Microsoft to name a few. Currency pairs there are 12, of which three are relative to the dollar: (dollar, pound and Japanese yen). The rest of the pairs are for the dollar, including of course the pound and the yen, which in turn are not available in the GBP/JPY pair. Finally, there are also 7 raw materials: gold, oil, silver, coffee, platinum, sugar and wheat.

In addition to this diversity of assets, the platform also allows you to trade different types of binary options. You will have the possibility to invest in classic binary options, long-term, one touch, pairs, sixty seconds and straight. Having these types of different investment is always something that should be taken into account to decide the broker, since it ensures that there is always a possibility of placing a good operation.

Welcome bonus

At the moment there is no announced bonus that is granted to all new clients, as used to happen not so long ago in most brokers. However, if you contact customer support before making your first deposit, you may be able to get something out of them in case you are interested. In our opinion, when ordering a welcome bonus, it is necessary to evaluate well whether the conditions of it will be able to be fulfilled, in order to get the money out. Therefore, we are going to summarize the general conditions here, although as we always say, you should make sure to ask for the specific conditions of your bonus, before accepting it.

Such conditions are very simple. Before you can withdraw the money from the bonus and its benefits you must trade a volume of 40 times your bonus. This means that if you are awarded a $500 bonus, you will have to manage to trade $20,000 before you can withdraw the money. Keep in mind that you can always withdraw your money at any time, but not the bonus or the benefits associated with it. The latter will disappear in the event that you make a withdrawal before you have completed the trading volume requirement that we have just commented on.

FTrade payment methods

This broker is still young and its offer is developing. As with the number of files, the number of income methods is simply enough. At least, they have chosen the most secure ones: credit card, Skrill, Neteller, debit card and bank transfer. The minimum deposit that can be made is $ 200, but if you decide to do it by bank transfer it will be $ 500. It is important that when making the payment, you make sure that the data of your account, from which you enter, coincides with the data that you have registered on the web.

Withdrawals, apart from the classic verification procedure, have some particularities due to international laws against money laundering. You must withdraw the money in the same way and in the same account from which you entered it. With a credit card you can only withdraw the same amount that you entered, and the extra winnings must be withdrawn by bank transfer. The problem is that withdrawals with bank transfer pay a fee of 45$. The minimum amounts to withdraw are $50 for cards and $100 for bank transfers.

FTrade Safety and regulations

The company that manages FTrade is BINEXT SOLUTIONS SRL and is registered in Romania at the address 17 Baba Novac Street, Bl. G13, Suite 45, District 3, Bucharest. Please note that the address listed in our table above is that of the main offices, but this is the official registration address.

Not having a license means that you cannot claim it from any financial authority, in case problems arise. However, brokers live on the trust of clients in their services and it would be quite clumsy on their part to stop paying their clients and lose credibility. The problem could come, because being unregulated, it does not have the transparency and prudence obligations of a normal broker, so the risk of insolvency is somewhat higher.

What we can say is that today, it does not seem that this company is a scam. Therefore, if the offer or a part of it is interesting to you, we simply recommend that you do not make a large income. Limit your amounts more than you would with a licensed broker and test their services with caution.

Customer service

The main problem with customer service for New Zealand users is that it is not available in Spanish. From there the schedule is very reasonable and the contact methods sufficient.

If you need to contact this broker, you can do it from 7 am to 4 pm. This is so, because in English they respect the UK hours. The ways to contact them are diverse: phone, email, web contact form and live chat, to use which you will have to give them your email address.

Saving the language issue, the service is friendly, fast and resolute. Especially recommended is the phone or live chat, which are the fastest methods since both email and the contact form take a little longer to receive a response.

Functionality of the website

The website is simple, loads quickly and has the basics to be able to invest in binary options but little else. You don't need it either, since when it comes to investment, there are plenty of frills.

The investment interface is the classic one in which we see a large rectangle that at the top shows us a tab to select the underlying asset and the sections to select the expiration time and the amount to invest. Below it, we have the graph, in which we can see from 30 minutes to 12 hours. On the right the two big buttons in green and red to buy calls or puts. In the middle of the two buttons we will see the price of the asset and to its right the potential profit that we could obtain. The interface allows us to view from one to eight assets at a time.

Mobile application

In addition to the possibility of investing from the web or with the mobile, you can do it thanks to the apps available on Android and iTunes. They are updated frequently to debug problems and errors, although they may still be a little green. In general, they are valid to operate from the comfort of the sofa without having to be with the laptop around, or from anywhere if you enjoy a stable connection.

Finding

As a conclusion and after the analysis carried out, our opinion is that it is a safe broker without scams, scams or frauds. While it is true that it does not have a license, we have found no indications of problems. The recommendation is clear, be cautious and enter small amounts until you see how the service evolves. If we ask for a welcome bonus, a small amount may be enough to try this broker and get to know it better. From there, everyone must decide to what extent they trust a company that does not have a license. If you prefer to opt for the safe, you can check our page with the best safe binary options brokers .