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DirectTradeOptions Review - is it scam or safe?

DirectTradeOptions review - Is directtradeoption.com scam or good forex broker?

RATING: 1 / 1 REVIEWS ForexBrokerz DirectTradeOptions
DirectTradeOptions is an offshore broker. Your money is not safe.

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DirectTradeOptions says to be a reliable and trusted trading platform, which allows you to trade both binary options and forex pairs and CFDs on stocks indices and ETFS, with a choice of four account types and a monthly profit of up to 45%.

 

Account type Min. deposit Max. leverage Spreads/ Payout
Mini Account $250

n/a

n/a
Silver Account $1000 n/a n/a
Gold Account $5000 n/a n/a
Platinum Account $10 000 n/a n/a

 

This certainly sounds attractive and yet we have some serious doubts about the DirectTradeOptions credibility, starting with the fact that their website is virtually anonymous – no mention of the company that runs the whole operation. And besides, you should be extra cautions if someone offers you guaranteed monthly or weekly returns. There is no such thing as free lunch, remember. 

 

DirectTradeOptions Advantages:

 

We usually try to list first any possible benefits a broker might offer its customers, and yet here we will have no other option but to leave this section empty.

 

DirectTradeOptions Disadvantages:

 

Anonymous website, no license

 

As we already noted DirectTradeOptions website is almost completely anonymous – they do not bother to mention the name of the company that runs the website, nor where it is based. It is true that they give us some unspecified address in Texas, but that simply does not mean anything. See for yourself:

 

 

In any case, if the broker is truly located in the U.S. they should be licensed as a Retail Foreign Exchange Dealer (RFED) and a Futures Commission Merchant (FCM) by the Commodity Futures Trading Commission (CFTC) and to be a member of the National Futures Association.

 

And what is more a broker with a license to operate on U.S. soil should hold no less than 20 000 000 USD as a minimum operational capital – basically the same amount as required for the Swiss banks by the authorities in Switzerland - this explains why so few brokers are authorized to operate in the U.S.

 

So we decided to give DirectTradeOptions a chance and check them in the NFA registers. Guess what – there was no trace of DirectTradeOptions there.

 

Market maker offering managed accounts 

 

DirectTradeOptions says that their binary robot will automatically place trades for you, and this will allow you to make money around the clock, while you sit back and watch. This sounds fantastic, right?

 

As virtually all brokers, legit ones including, DirectTradeOptions acts as a market maker, which means they make money whenever traders lose. So if a market maker offers you to manege your account it will surely be in a conflict of interest, as is the case with DirectTradeOptions – see for your self:

 

 

On top of that they promise you up to “45% profit on your initial capital investment monthly”, which is yet another indication that what we are dealing here is a scam:

 

 

No information about the payment methods

 

Just bear in mind that most brokers accept payments with major cards like VISA and MasteCard, bank wire and various e-wallets, including Neteller and Skrill. Here you may check for example our list of brokers, accepting Skrill:

 

>>Brokers accepting Skrill<<

 

No demo account available

 

Unfortunately we were not given the opportunity to open a demo account, and that is the reason we can not comment on the trading conditions DirectTradeOptions offers. In any case here you may always check our list of brokers, offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

MetaTrader4 not supported

 

DirectTradeOptions seems to be offering some sort of unproven web based trading platform, which we were not able to check, as they do not offer a demo account. And we do miss the MetaTrader4 – by far the most popular trading platform in the industry – featuring well over 60 customizable market indicators and a selection of trading robots, with the help of which one can easily run automated trading sessions. And because MT4 comes with an excellent pack of advanced charting tools, here you may check our list of brokers, which do support the platform:

 

>>MT4 Brokers<<

 

Conclusion:

 

DirectTradeOptions is an obvious scam – it is virtually anonymous, not regulated, and what is even worse they offer managed accounts, while acting as market makers in an apparent attempt to scam investors. So our advise is to avoid unregulated, anonymous websites like DirectTradeOptions altogether and to trade only with properly regulated companies, like the ones licensed and authorized by the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) and the Australian Securities and Investments Commission (ASIC).  

 

Here for example you may check our list of brokers, licensed by the FCA in the UK:

 

>>FCA Regulated Forex Brokers<< 

 

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Traders` reviews for DirectTradeOptions

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