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Optionfx trade

Seychelles|2-5 years|
Suspicious Regulatory License|Suspicious Scope of Business|High potential risk|

https://optionfxtrade.com/

Website

Rating Index

Contact

+15202764340
info@optionfxtrade.com
https://optionfxtrade.com/

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Contact number

English

+15202764340

Broker Information

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Company Name

247 Fasterpay TRADE MINING TECHNOLOGIES LTD

Company Abbreviation

Optionfx trade

Platform registered country and region

Seychelles

Company website

Pyramid scheme complaint

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Warning: Low score, please stay away!
Previous Detection : 2024-03-01
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

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Optionfx trade · Company Summary

Aspect Information
Registered Country/Area Seychelles
Founded Year Not specified
Company Name 247 Fasterpay TRADE MINING TECHNOLOGIES LTD (Optionfx trade)
Regulation No valid regulatory information, please be aware of the risk!
Minimum Deposit $100
Maximum Leverage Not specified
Spreads Not specified
Trading Platforms Web-based platform
Tradable Assets CFDs on shares, indices, forex, binary options, cryptocurrencies
Account Types Basic, Classic, VIP, Ruby, Platinum, Presidential
Demo Account Not specified
Islamic Account Not specified
Customer Support Phone: +15202764340, +19852488681<br>Email: info@optionfxtrade.com<br>Live Chat
Payment Methods Bitcoin, Litecoin, BitcoinCash, Dash, Perfect Money, Advcash, Payeer, Ethereum, Dogecoin

General Information

Optionfx Trade is a trading platform that offers a variety of trading instruments, including CFDs on shares, indices, forex, binary options, and cryptocurrencies. However, it is important to note that Optionfx Trade is not regulated by any valid regulatory authority, which raises concerns about the level of customer protection and the potential risks involved.

The platform provides six investment plans with varying minimum and maximum deposit requirements, catering to different trading preferences and capital levels. Users can choose the plan that suits their investment goals and risk tolerance.

Optionfx Trade offers referral commissions as part of its commission structure, providing users with an opportunity to earn additional income by referring others to the platform. The referral commissions are provided at two levels: 6% for Level 1 referrals and 2% for Level 2 referrals.

Regarding customer support, Optionfx Trade can be contacted through phone, email, or live chat. However, specific contact information such as the company address is not available on their website.

It is important for potential users to conduct thorough research and consider the lack of regulatory oversight and potential security concerns associated with the platform. Engaging with unregulated brokers carries inherent risks, and individuals should carefully evaluate their options and consider alternative platforms that offer stronger regulatory protections and security measures.

basic-info

Pros and Cons

Optionfx Trade offers a variety of trading instruments, including CFDs on shares, indices, forex, binary options, and cryptocurrencies, providing users with a diverse range of investment opportunities. The platform also offers different investment plans and referral commissions, allowing users to potentially earn additional income. However, it is important to consider the drawbacks of Optionfx Trade. The platform lacks valid regulation, which raises concerns about user protection and the potential for fraudulent activities. Additionally, the absence of proper security measures on the website and trading platform poses a significant risk to users' personal information and funds. It is crucial for individuals to weigh the potential benefits against the risks involved and carefully consider alternative platforms that offer stronger regulatory oversight and enhanced security measures.

Pros Cons
Diverse range of trading instruments Lack of valid regulation
Different investment plans available Potential risk of fraudulent activities
Referral commissions for earning additional income Insufficient security measures
Opportunity to trade cryptocurrencies Lack of transparency in company information

Is Optionfx trade Legit?

Based on the information provided, it appears that Optionfx Trade is not regulated by any valid regulatory authority. The lack of valid regulatory information raises concerns and indicates a potential risk. It is important to note that trading with an unregulated broker can expose investors to various risks, such as potential fraud, inadequate customer protection, and limited avenues for recourse in case of disputes or issues.

Additionally, the company name associated with Optionfx Trade is stated as “247 Fasterpay TRADE MINING TECHNOLOGIES LTD.” The platform is registered in Seychelles, according to the provided information.

regulation

Market Instruments

Optionfx trade advertises that it offers a variety of trading instruments, which is consist of CFDs on shares, indices, forex, binary and cryptocurrencies.

1. CFDs on Shares: Contract for Difference (CFD) allows traders to speculate on the price movements of individual company shares without owning the actual underlying shares. Traders can potentially profit from both rising and falling prices.

2. Indices: Optionfx Trade provides CFDs on indices. An index represents a basket of stocks that reflect the performance of a particular market or sector. Traders can speculate on the overall movement of the index without trading individual stocks.

3. Forex: The platform offers forex trading, which involves the buying and selling of different currencies. Traders can take advantage of fluctuations in exchange rates to potentially profit from currency price movements.

4. Binary Options: Optionfx Trade offers binary options trading. Binary options are financial instruments where traders predict the outcome of a specific event, such as whether an asset's price will rise or fall within a specified time frame. It is a simplified form of trading with fixed risks and rewards.

5. Cryptocurrencies: The platform supports trading in cryptocurrencies. This includes popular digital currencies such as Bitcoin, Litecoin, Ethereum, Bitcoin Cash, and Dash. Traders can speculate on the price movements of these cryptocurrencies without owning the underlying assets.

market-instruments

Pros Cons
Diverse range of trading instruments (CFDs on shares, indices, forex, binary options, cryptocurrencies) Lack of regulatory oversight
Opportunity to speculate on various markets and assets Potential for inadequate customer protection
Potential to profit from both rising and falling prices Limited avenues for recourse in case of disputes or issues
Access to simplified binary options trading Potential risk of fraudulent activities
Inclusion of popular cryptocurrencies for trading Insufficient transparency in company information

Investment plans

There are six investment plans offered by Optionfx trade, namely Basic, Classic, Vip, Ruby, Platinum and Presidential. The minimum initial deposit of Basic Plan is $300, while the other five plans require much higher initial capital, $1,001, $5,001, $10,001, $25,001 and $50,001 respectively. The maximum deposit of Basic Plan is $2,000, while the other five plans are $5,000, $10,000, $25,000, $50,000 and $5,000,000 respectively.

1. Basic Plan: The Basic Plan has a minimum initial deposit requirement of $300. The maximum deposit limit for this plan is $2,000.

2. Classic Plan: The Classic Plan requires a higher initial capital of $1,001. The maximum deposit limit for this plan is $5,000.

3. VIP Plan: The VIP Plan has a higher minimum initial deposit requirement of $5,001. The maximum deposit limit for this plan is $10,000.

4. Ruby Plan: The Ruby Plan requires an even higher initial capital of $10,001. The maximum deposit limit for this plan is $25,000.

5. Platinum Plan: The Platinum Plan has a minimum initial deposit requirement of $25,001. The maximum deposit limit for this plan is $50,000.

6. Presidential Plan: The Presidential Plan requires the highest initial capital among all the plans, with a minimum deposit requirement of $50,001. The maximum deposit limit for this plan is $5,000,000.

Pros and Cons

Pros Cons
Multiple investment plans to cater to different capital levels and preferences Lack of transparency in company information
Opportunity for potential higher returns with higher deposit amounts Higher initial capital required for higher-tier plans
Variety of options for users to choose from based on their investment goals and risk tolerance Potential risk associated with unregulated platform
Referral commissions provide an opportunity for additional income Lack of clear information on investment strategies and risk management

Commissions

Optionfx Trade provides referral commissions to its users as a part of their commission structure. They offer two levels of referral commissions: Level 1 and Level 2.

Level 1 Referral Commission: Optionfx Trade offers a referral commission of 6% for Level 1 referrals. This means that if you refer someone to the platform and they become a registered user, you will receive a commission of 6% based on their trading activities or deposits.

Level 2 Referral Commission: In addition to the Level 1 commission, Optionfx Trade also offers a Level 2 referral commission. The Level 2 referral commission is set at 2%. This means that if your Level 1 referral refers someone else to the platform, and that person becomes a registered user, you will receive a commission of 2% based on their trading activities or deposits.

Referral commissions can serve as a way for users to earn additional income by referring others to the platform. However, it's important to understand the terms and conditions of the referral program, including any restrictions or requirements, to ensure that you comply with the rules and receive the commissions accordingly.

Pros Cons
Opportunity to earn referral commissions Potential reliance on recruiting new users for income
Additional income potential for referring others Possible pressure to constantly recruit and build a referral network
Rewards for successful referrals Commission structure may favor higher-level referrals
Incentive for users to promote the platform Income may be dependent on the trading activities or deposits of referred users
Possibility of increasing earnings through Level 2 commissions Commission earnings subject to terms and conditions, which may have restrictions or requirements

Deposit & Withdrawal

Optionfx Trade offers users multiple payment methods to deposit and withdraw funds on their platform. The accepted payment methods include Bitcoin, Litecoin, BitcoinCash, Dash, Perfect Money, Advcash, Payeer, Ethereum, and Dogecoin.

The minimum deposit amount on Optionfx Trade is $100. This means that users can start trading on the platform by depositing at least $100 into their trading account. On the other hand, the maximum deposit limit is set at $500,000. This upper limit allows users to deposit larger amounts if they choose to do so.

When it comes to withdrawals, the minimum withdrawal amount on Optionfx Trade is $200. This means that users need to have a balance of at least $200 in their trading account to initiate a withdrawal request. Importantly, there is no specified maximum limit for withdrawals.

It's worth noting that Optionfx Trade states that the principal deposit cannot be withdrawn. Instead, it will remain in the user's account and continue to earn interest indefinitely. This suggests that users can only withdraw profits or returns earned on their initial deposit.

Pros Cons
Multiple payment methods accepted Minimum deposit amount of $100
Ability to deposit larger amounts up to $500,000 No specified maximum withdrawal limit
No maximum limit for withdrawals Principal deposit cannot be withdrawn
Wide range of accepted cryptocurrencies Lack of clarity on withdrawal processing times

Trading Platform

OptionFX Trade provides users with a web-based trading platform. The platform allows traders to access their trading accounts through a web browser without the need for additional software installation.

While the specific features and functionalities of the platform are not mentioned, it is important for users to consider factors such as ease of use, charting tools, order execution capabilities, and available trading instruments when evaluating the quality of a trading platform.

trading-platform

Customer Support

Optionfx Trade provides multiple channels for customer support. Users can reach their customer support team through the following methods:

1. Phone: Optionfx Trade offers two contact numbers for English-speaking customers: +15202764340 and +19852488681. You can use these numbers to contact their support team and seek assistance or ask any questions you may have.

2. Email: Another option to contact Optionfx Trade's customer support is via email. You can send your inquiries or concerns to their email address: info@optionfxtrade.com. Be sure to provide all relevant details and information in your email to receive a prompt and accurate response.

3. Live Chat: Optionfx Trade also provides a live chat feature on their website. This allows users to engage in real-time text-based conversations with their support representatives. You can access the live chat feature on their website and receive immediate assistance with your queries or issues.

Negative Reviews

The reviews on WikiFX suggest negative experiences and allegations of fraudulent activities related to Optionfx Trade. Users have expressed dissatisfaction with their investments and have claimed that the company is a scam. One reviewer from South Africa mentioned investing a significant amount of money with Optionfx Trade and encountering issues with deposit requests and additional payment demands. They expressed a desire to recover their funds. Another reviewer also from South Africa mentioned being misled about profits, being advised to take loans, and experiencing financial difficulties as a result of their involvement with Optionfx Trade. The reviews serve as warnings to potential investors and advise staying away from the company. It's important to exercise caution and conduct thorough research when considering any investment opportunity.

negative-reviews

Conclusion

In conclusion, Optionfx Trade offers a range of trading instruments, including CFDs on shares, indices, forex, binary options, and cryptocurrencies. However, the platform raises concerns as it is not regulated by any valid regulatory authority, potentially exposing users to risks and inadequate customer protection. Furthermore, the lack of proper security measures on the website and trading platform poses a significant disadvantage, leaving users vulnerable to potential third-party attacks and data breaches. While the platform provides multiple investment plans and referral commissions, individuals should carefully consider the risks associated with trading on an unregulated platform and explore alternative options that offer stronger regulatory oversight and security protocols.

FAQs

Q: Is Optionfx Trade a regulated broker?

A: Based on the information provided, Optionfx Trade does not have any valid regulatory information. This lack of regulation raises concerns and indicates a potential risk. It is important to note that trading with an unregulated broker can expose investors to various risks.

Q: What trading instruments does Optionfx Trade offer?

A: Optionfx Trade offers a range of trading instruments, including CFDs on shares, indices, forex, binary options, and cryptocurrencies. Traders can engage in speculation on price movements in these markets.

Q: What are the investment plans offered by Optionfx Trade?

A: Optionfx Trade provides six investment plans: Basic, Classic, VIP, Ruby, Platinum, and Presidential. Each plan has different minimum and maximum deposit requirements, offering various options for traders with different capital levels.

Q: Are there referral commissions available on Optionfx Trade?

A: Yes, Optionfx Trade offers referral commissions as part of its commission structure. They provide Level 1 referral commissions of 6% and Level 2 referral commissions of 2%. Traders can earn commissions by referring others to the platform.

Q: What are the deposit and withdrawal options on Optionfx Trade?

A: Optionfx Trade accepts various payment methods, including Bitcoin, Litecoin, BitcoinCash, Dash, Perfect Money, Advcash, Payeer, Ethereum, and Dogecoin. The minimum deposit amount is $100, and there is no specified maximum limit. The minimum withdrawal amount is $200, and there is also no specified maximum limit.

Q: How can I contact Optionfx Trade's customer support?

A: Optionfx Trade's customer support can be reached through phone, with the numbers +15202764340 and +19852488681 available for English-speaking customers. You can also contact them via email at info@optionfxtrade.com or utilize the live chat feature on their website.

User Reviews

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余 ℡ L o n g
more than one year
Beware of optionfx’s usual fees, that is 1% withdrawal fee, min $30, on top of a 1% dormant fee, again min.$30, if you have not traded for just 30 days… Highly usually, for legit brokers don’t charge withdrawal fees, while dormant fees might be applied only after a year of inactivity.
2022-12-02 18:42
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FX1093450045
more than one year
At least $200 to get it out! This means that if you only have $199 left in your account, you can't withdraw until you continue to trade and make more money. Note that most regulated brokers do not have any withdrawal amount limits. Don't trade with them!
2022-12-02 16:57
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