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FPlus Trading Review - is it scam or safe?

FPlus Trading Review - is fplus.ai scam or good binary options broker?

RATING: 1 / 0 REVIEWS FPlus Trading
FPlus Trading is not regulated. We cannot guarantee your money is safe.

Trading accounts and Conditions

 

Trading account  Min. investment. Min. bet size Payout %
Standard  N/A N/A Up to 85%

 

FPlus Trading appears to be a binary options broker. Its website, however, does not provide much information on trading conditions, nor different trading account types.  Quite surprisingly, the broker claims to be regulated in the Netherlands.

 

Read the full review to get all the details about FPlus Trading and why we gave it such a low rating.

 

 

FPlus TradingAdvantages

 

Many tradeable assets available (allegedly)

FPlus Trading allegedly offers trading in wide range of assets, including, forex, commodities, indices, stocks, and cryptocurrencies. However, a number of forex and binary options brokers nowadays have rich and diversified product portfolios. What is more important, some of them are licensed and therefore more reliable, while FPlus is not to be trusted.

 

 

FPlus Trading Disadvantages

 

False regulation claims

Although the website of FPlus Trading does not even disclose which is the company behind its operation (and provides an address and a contact number in the UK), it claims to be regulated by the Dutch Authority for the Financial Markets (AFM).

 

 

Click on the image to view full size.

 

Unsurprisingly, this claim is false. Binary options trading was prohibited in the European union last year, and Netherlands is a EU Member State, so there is no way that a binary options broker operates legally in this or any other EU country.

 

This is our main concern with this FPlus Trading, as most unregulated brokers, especially those making false regulation claims, are usually engaged in some sort of fraudulent practices.

 

Fined by the Dutch regulator

Furthermore, we found out that the Dutch regulator has not only warned against FPlus, but also imposed an order for incremental penalty payments on FPlus Trading, because the broker wrongfully states it holds an AFM license. This order obliges FPlus Trading to cease targeting local investors and misleading them it is authorized.

 

 

If FPlus Trading fails to comply with the order within five working days, it will be obliged to pay a penalty amounting to €5,000 for each calendar day the broker fails to comply, subject to a maximum of €50,000. FPlus Trading obviously failed to comply with the order and must, therefore, pay the fine.

 

No trading specifics whatsoever

Another clear-cut sign of trouble regarding this binary options provider is the lack of any relevant information on trading conditions, other than the 85% payout promised. It is even unclear what trading platform FPlus Trading uses. There are no demo accounts, and although we tried to register a live one, we never got the activation code on our email, as promised.

 

Unfavorable withdrawal bonus T&C

Like most binary options brokers, FPlus Trading offers some bonuses to attract clients. However, be sure you always read the terms and conditions of those and everything written in small print, as usually there are traps. For example, clients of FPlus Trading are able to withdraw the bonus amount, provided that they reach a trading volume equivalent to 30 times the value of the bonus, plus their deposit. This would subject traders to a significantly higher risk of losses .

 

 

Conclusion

 

FPlus Trading is a binary options broker with a very low credibility. Not only that the broker is not regulated, but it was fined by the Dutch financial watchdog for illegally targeting Dutch investors and wrongfully stating it is licensed. Furthermore, the broker does not offer access to any trading platform and has not specified any trading specifics either. All this inclines us to believe FPlus Trading is one of the many fraudsters in the world of trading.

 

Instead of wasting your time and money on shady binary options brokers, you’d better choose a reliable companies forex and CFD provider. Many of them are authorized to operate in Europe and are much more transparent about their offer and pricing.

 

 

>> Forex brokers regulated in Cyprus <<

 

 

 To sum up our review on Fplus Trading in a few words:

 

Pros Cons
Many tradeable assets available (allegedly) False claims of regulation
  Fined by the Dutch regulator
  No trading specifics whatsoever
  Unfavorable bonus withdrawal conditions

 

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Traders` reviews for FPlus Trading

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