EZTrader a huge scam

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Is EZTrader not a scam?

Is EZTrader not a scam?

Can I work with EZTrader. I am not sure if I should work with them or not. Can anyone help me on this?

EZTrader is a trading platform, basically for Forex Trading. it is not a scam. But if you wish to trade forex, there are many many better services available, which also are tried and tested by millions of traders.

Just googling will give you the top preferred trading services offered, of course for some reasons that may be EZTrader lacks.

I personally prefer to trade with FxPro.com.

EZTrader.com is not for Forex Trading. Its for Binary Options Trading. I tried it, and liked it. If you want to try something new than this one is for you. I like the 1 Hour trades with the results immediate and the known risk.
I think its safer than most Forex sites

According to RipOffReports, EZtrader is not likely a scam, because they are no complaints filed: http://www.ripoffreport.com/Search/eztrader_com.aspx

You could trade with http://www.forex.com directly. Although, I can see why you might prefer http://www.eztrader.com/, as they have sped up the process of investing with “binary” options.

Hi, I’m Haley and I’m an EZTrader.com account manager.

About your question, I understand your concern but first of all, you can see on the bottom of the site the symbols of NASDAQ, Reuters and McAfee which are major companies which have checked and verified us.

Second of all, and if you have a company of your own you will be aware of this –
We process credit cards, if we had a chargeback (people saying this is a scam and they want they want their money back) rate of 2% they wouldn’t allow us to process credit cards anymore. And anyway, you’re always protected by your credit card company as in any transaction you make.

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    Free Trading Education!
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  • Binomo
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    Good Broker For Experienced Traders!

If you have any further questions about Binary options, trading or our platform feel free to call us:
212-937-7794 begin_of_the_skype_highlighting 212-937-7794 end_of_the_skype_highlighting

The EZTrader concept of binary options is NOT a scam. I think they have a great web site, and they appear to be a very professional outfit at first glance. Anyone who loses money simply doesn’t understand how to make a profitable trade decision.

My problem with EZTrader is this: deposits from your credit card into your EZTrader account are instantaneous and hassle-free, but withdrawals are slow and stressful.

Although they DID eventually refund my original deposit and pay me my profit, I want to let everyone know that this process took almost two full weeks and required 1 to 2 telephone calls every day to make it happen. This was after I filled out the required paperwork according to their specific instructions, which include:

-Photo copy of Driver’s License
-Photo copy of front and back of credit card
-Bank account number & routing number

After the initial request, they told me it would be three days before they would process the withdrawal. Three days later they told me they hadn’t received the documentation. I ended up emailing the documents 4 times to various email addresses during the first week. When they finally acknowledged receiving my documentation, they kept telling me it would be processed “in a few hours, or tomorrow morning at the latest.” This went on for about 5 days. The standard response to my calls was “Your request is with our Withdrawal Department, so there is nothing more we can do.” When I asked to be put in contact with someone in the Withdrawal Department, they told me it was offsite and there wasn’t a way to contact them other than emailing [email protected], which never replied to my emails.

I feel that Carolina Gonzolez (Vice Head account manager, [email protected]) gave me the runaround every time I called them. I believe she lied to me to keep buying more time and delay payment.

No reputable broker should treat their customers this way. Do yourself a favor and stay away from Eztrader.

Hi Edward,
EZTrader has been online for over 3 years now, having great support service and handling withdrawals as fast as possible. Our withdrawal policy is to return your money by 3-5 working days. Due to Money laundering restrictions, we are obligated to receive a few documents verifying the your identity and credit card number. If your withdrawal was delayed it could be due to lack of correct documentations. Keep in mind that it can also be caused by either your bank or credit company which has nothing to do with us.
We like satisfied returning costumers and therefore try to handle things on the best most efficient side.
If you encounter any problem, you are welcome to call our toll free number 1-800-435-7042 or send an email to [email protected]

In order to help you,i checked whois database of the EZTrader.com using http://www.whoisxy.com/ I got formatted information.Using this information,i didn’t confirm is the legit or not.Then i checked that company complaints using http://www.scamadviser.com/ I got “This site has some negative feeedback” message. I can’t be to confirm this as legit one

EZTrader is not a scam I have taken help of them and it was nice. Usually it is for Binary options whereas some people have confusion that it is for forex. Due to some people lot others have started doubting on binary option, but there is an absolute solution to it i.e. binary option broker. You can visit http://www.no1options.com/article/the-complete-guide/ to find experienced broker. You must start trading with an experienced broker for improved and better results.

I tried EZTrader binary options trading app and found it moderately good, however, I had some troubles with this app initially. If you are skeptical with EZTrader and looking for something fresh, then check out https://www.youtube.com/channel/UCpA02t … xOhuX0LE9A – here you will find many new platforms with professional reviews.

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Scammers ( EZTRADER + ultimate4trading )

Lord Flasheart

Legendary member

showmethedough

Newbie

Hello Everyone,
Has anyone had dealings with Binaryoptions trading through EZtrader? If so, how do you rate them?

Leopdspots

Newbie

I read an article on Yahoo.com News yesterday, which directed me to watch a video about an award given to Ultimate4Trading.net a falry new British company.

They claim to have had great success with their own trading algorithm, and set up a platform for the public to share in its use FOR FREE!

The broker is EZTrader, who are known to be fraudsters. Like many brokers they have changing policy over how much can be withdraw, when and at what cost. should you have anything of your account to withdraw.

I tried the demo account of Ultimate4Trading, and searched for reviews, only to find many sites all created by themselves, and likely the award winning claim..

Of course on the demo account you will will oh so many of the trades, (60 second bets and binaries) are winning at rates higher than 3 out of 4, and be offered a bonus to set up an real account and so forth in no time.

It is too good to be true, so steer well clear. I hope this post enables anyone searching for bad reviews to find something on the Internet about Ultimate4Trading.net before it is too late for them.

For evidence and some sad old stores about both U4T and EZtrader.com they can be found here:

Pat494

Legendary member

I hope you are wrong about ETZ and Ultimate as I have recently put money there. I put in £300 and they have given me an extra £160.
They require a pic of one’s credit card etc. but with the relevant numbers covered. My first effort they rejected.as inadequate. Hope they accept my second effort.

As you can see my demo trades last Friday were excellent. I went from a demo deposit of £500 to £7,600 in a day.

posts 1039, 1042 and 1044.

Could be the haters and rivals are trying to diss them ?

Pat494

Legendary member

Well serves me right I suppose. Having lost £120 I applied for a withdrawal but it was only possible to withdraw £180. That is the bonus of £150 stays with them. The indicator I used was the same as the one I made 14.5 times my initial demo account but of course strangely doesn’t work very well on a real account.

gunner82

Newbie

Well serves me right I suppose. Having lost £120 I applied for a withdrawal but it was only possible to withdraw £180. That is the bonus of £150 stays with them. The indicator I used was the same as the one I made 14.5 times my initial demo account but of course strangely doesn’t work very well on a real account.

This site is not a scam but from the numerous reviews I have read it is best to steer clear. They do not give your money back straight away. I lost £200 unwittingly and I am trying to find out if they can permanently delete my account (not holding my breath here).

Empiricist

Junior member

Ultimate4Trading is a total SCAM so is EZTrader. BEWARE!!

I first found out about Ultimate4Trading via a an online pop up advert. As an experienced CFD, Equities and Options trader, I was of course very skeptical. So as to be open minded, I decided to investigate the whole thing very thoroughly.
This is what I found.

I clicked through all the Ultimate4Trading marketing videos and saw several clean cut, post university kids being apparently genuine & even philantropic about their so called “algorithm”. It all looked to simple and too easy. See video link below:

I then clicked through and easily opened an account with Ultimate4Trading. AND that is where the fairytale ended!

Within minutes, I received a call from a sales person at EZTrader, supposedly in London. For some unfathomable reason, Ultimate4Trading have decided to link their “algorithm” with a so called “regulated’ dodgy broker that is domiciled in Cyprus?
WGM Services, the parent company of EZtrader has had numerous serious fines (EURO 340,000+) imposed on them by the Cyprus regulator recently and has also had their license revoked (see links below).

There is so much bad press and commentary about EZTrader, it is little wonder they are registered in Cyprus!
Market Maker / Bucket Shops like EZTrader would not see the light of day in a decently regulated city like Singapore, London, New York or Sydney.

After numerous emails and phone calls from EZtrader, I had the following confirmed to me (meanwhile they kept increasing their bonus offer from Euro 750 to Euro 1,000 for me to open and fund an account with them),

1. Client Funds (your money) are not held in segregated client accounts in the clients name.
2. All deposited funds are held in a pooled account in the brokers name, in Germany!
3. EZTrader make it almost impossible to withdraw your funds at any time after you deposit as they mix bonuses with your funds, which you cannot withdraw.

If the parent company WGM Services or EZTrader are shut down or go under for any reason, or simply decide to close, it is KYMG! KISS YOUR MONEY GOODBYE! Try complaining to a regulator in Cyprus about a company operating in London, with their IT backbone in Israel, about your money in their name in some German bank account. Mien Got!

While the founders of Ultimate4Trading seem honest and well intentioned, their choice of broker and trading instrument says otherwise.

The so called Ultimate4Trading “Algorithm” only works for Binary Options trading in a short time frame. The fact of the matter is that Binary options are never traded, placed or executed into a real market or exchange. Brokers like EZTrader always take the other side of your trade. Binary Options trades are fictitious. They are made up by the broker. Whether you win or lose is purely up to the broker, just like a poker / slot machine. The only “algorithm ” involved, is the program that runs the fake trading platform. For those that are skeptical regarding this point, you will note that there are no quoted BID or OFFER prices, no option strike prices and no execution or fill prices. This is because your are 100% trading against the broker all the time! Mysteriously, every single trade (and I tested 100’s) either results in a 100% LOSS or a 72% WIN or occasionally a TIE. If any of these trades were actually placed into a real market or options exchange such fixed results would be impossible. And they are.

EZTrader do not charge fees or commissions per trade. Instead they make a fortune from all the losses on your account, which is already held in their name. This is a classic churn and burn scam. Heres why. of the 100 trades I tested, 56% resulted in a WIN with a fixed 72% return per trade. 41% resulted in a LOSE with a fixed 100% loss of all capital per trade. 3% resulted in a TIE with a zero outcome. Lots of CHURN and a very slow, long and painful BURN!

Just like a Poker or Slot machine, if you keep plugging away, you will eventually lose all your money. As the fixed LOSS of 100% per losing trade always exceeds the fixed profit of 72% per winning trade. The planning and psychology behind this system is mind boggling. The slick hyper honest marketing sucks you in, the platform gets you hooked and EZTrader makes it almost impossible to withdraw your funds whether you are in profit or loss. And when you do lose all your funds, they then incentivise you to lose even more money with further bonus incentives. Now that is what I call an “algorithm”.

It would be very interesting to hear what the four founders of Ultimate4Trading (Abbey Walker-Jones, Matty Voss, John Cross and Ash Patel) would have to say about all this. However, it is impossible to contact them. There are no phone numbers on their website and they never answer any messages sent to any of their listed email addresses. Perhaps then we could find out how much commission EZTrader pays them from their clients losses? Is there an “algorithm” for that?

Binary Options Trading is Not a Scam

Scam: a fraudulent or deceptive act or operation.

The Basics of Binary Options

When you trade binary options, you are essentially betting on whether the value of the underlying security will be above or below a predetermined price (the strike price) when the option expires. If you believe the value will go above the strike price, you purchase a call option, and if you believe the value will go below the strike price, you purchase a put option. Therefore, there are only two possible results:

  1. You were correct in your prediction! You receive a set amount of cash, or a fixed amount of the asset.
  2. You were wrong. You essentially lose the money used to purchase the option.

Binary options are sometimes called “all-or-nothing” options because you either receive the entire payoff or nothing at all. The positive aspect to this system is that you can only lose the fixed amount that you spent purchasing the option. However, people that are not familiar with binary options can easily lose all the money that they’ve invested, if none of the trades go in their favor.

Why Do People Think This is a Scam?

There are three main reasons people call binary options trade a scam:

  1. Many people try it without understanding the operating principles, so they feel cheated when trades don’t go in their favor.
  2. People don’t like to be wrong or lose money. They would rather blame a company instead of acknowledge their mistakes.
  3. They were actually scammed.

I want to be very clear: there are plenty of real scam sites to be wary of. But a large amount of the “scam” accusations relating to binary options trading have nothing to do with a scam.

By making a riskier investment with your money, you are allowing for the potential of higher returns. This is the reason why people with a poor credit history pay higher interest rates on loans. If you’re happy receiving a lower rate of return, there are plenty of low risk investments available, such as Treasury bonds.

Actual Scams

Scams occur in almost every industry, but are much more frequent amongst financial companies. Many people don’t understand exactly how financial products work, and are willing to trust any broker that promises massive potential returns.

When it comes to trading binary options, here are some handy ways to differentiate the scammers from actual brokers:

  1. Understand how binary options work. No matter what the circumstance, you should never invest in areas that you don’t understand. You will almost always lose money.
  2. Talk to people. Call up the customer service line and ask some questions about the platform, binary options trading, and the stock market as a whole. Take down that person’s full name and direct phone number, and call them a few days later. [Don’t use the Live Chat; try to speak with an actual person]
  3. Check the address. Find out where the company is based, and if the country has poor regulatory infrastructure, try somewhere else.
  4. Look at the Press page of the company’s website. If they have received press from reputable news organizations, they’re unlikely to be a scam. But make sure to actually read the article on the website of the news organization! If you can’t find the article, call customer service and ask for a link; simply having a Bloomberg logo on their press page means nothing.

Be Smart With Your Money

You worked hard to make your money; don’t blow it recklessly.

  • If the service seems untrustworthy, but you want to try it, open an account with the minimum balance possible.
  • Never spend all your money on one or two trades. Any person that advises against diversification is not on your team.
  • It’s fine to take general investment advice. But don’t let people tell you exactly what trades to make, or how much money to put on a trade.
  • If you don’t entirely understand what you’re buying, don’t buy it!

Real World Examples

TradersRoom

This website looks legitimate on the surface. However, there are several red flags once you dig into the details. Firstly, they are based in Cyprus, a country with questionable regulatory practices. Secondly, if you go to their press page, you will see the logos of Reuters, Banking Technology and Yahoo Finance. But you can’t find a single article on these companies’ websites that mentions TradersRoom. Thirdly, I couldn’t get a representative on the phone. The one woman that spoke to me over LiveChat immediately signed out when I asked for the link to any article by Reuters.

EZTrader

This company is also based in Cyprus, but their parent company, Win Global Markets, is publicly traded and based in the U.S. Additionally, I was able to speak with representatives on the phone. The people weren’t particularly knowledgeable, but they were willing to give their personal information (which could be confirmed through LinkedIn). And though there are several complaints online about people being unable to withdraw their money, but the issue was eventually resolved, or an EZTrader manager directly responded to the posting.

Banc de Binary

A negative sign is that the quotes on their press page seem to be from their own press releases. On the other hand, their World Finance Awards can be confirmed as legitimate. In addition, Banc De Binary’s CEO will directly respond to any queries that you send him. Finally, Banc De Binary is affiliated with legitimate businesses, such as the Mattison PR agency.

[Update April 23, 2020: Nadex is currently the only binary options trading firm registered with the CFTC. There is a $100 minimum initial deposit and no fees to open an account. In addition, they provide the option to learn the basics with $25,000 in virtual money.]

EZTrader

EZTrader are no longer solvent and should be avoided. Please visit out broker page for an alternative broker.

Binary.com $5 90% » Visit Binomo $10 90% » Visit BDSwiss $10 N/A » Visit Spectre $10 (ETH) Up to 200%* » Visit OptionField $5 93% Pro Account Discount and 10% Cashback » Visit

EZTrader were one of the original binary options brokers. They began operating in 2008. Based in Cyprus (and regulated by CySec) they still develop their own in-house trading platform. Their unique trading platform has meant they can remain a world leader among binary options firms, ensuring they always improve their service. EZ Trader take great pride in their bespoke platform, and their customer service.

EZTrader have strong partners with football clubs. They were trading partners of Bayer Leverkusen, Wolfsburg, and AIK, and they are official trading firm for Tottenham Hotspur. They involve traders too, as EZTrader run promotions and draws involving match tickets and signed items.

Here are some key details regarding EZTrader;

  • EZTrader Demo Account – Yes.
  • Minimum Deposit – £50
  • Minimum trade – £10
  • Signals service – Yes. EZtrader Live Signal Service
  • Bonus details – Up to 100% depending on deposit size.
  • Mobile App – Yes. Available across all platforms.

How to Use EZtrader Platform

EZtrader provide a unique, simple and clean trading platform. Due to the platform being a bespoke product, the trading area is unique in it’s look and feel. The choice of options are listed along the top of the trading area in tabs. Once clicked, the screen below updates the price graph below.

Clients use drop down lists to select the asset class (commodities, currencies, indices and stocks) Assets are also further organised based on global trading markets. If trading in a particular area is closed, those assets will be unavailable. Once selected, the trader can use another list to find the specific assets. The payout and expiry fields will update based on the asset selected – and the expiry time can be changed as desired.

Once the values have been set, the price graph in the main part of the trading area will update again. The scale (time period) of the graph can be set, with timescales ranging from 5 minute intervals to daily. The trading buttons are found to the left of the graph, with clear green ‘up’ and red ‘down’ arrows for making bids and offers. Traders enter the value of the trade in the field between the arrows. This will then update the investment and return fields, so traders can see the terms of the trade.

Open trades are listed below, traders can go to use the SellOption from this area – if they want to.

EZTrader Options

EZTrader offer a full list of trading options for their clients, plus the unique SellOption process.

  • Binary options – The traditional up/down trade. Will the price of an asset go up, or come down?
  • Sell Option – The EZTrader SellOption feature allows traders to “cash in” their position. This means profits can be taken on winning positions, and losses cut where the trade has not worked out.
  • 60 seconds – These trades are standard binary options – but over very short time scales.
  • Daily/Weekly – Again, the same as standard binary options. These expiries extend over days or weeks.
  • Long term – As the name suggests, these are standard binary options, but with long term expiries (months). The down side here is that EZTrader generally only offer one side of the trade – not both.

EZtrader Mobile App

EZTrader offer a free trading app to compliment the full website. The EZtrader app is compatible across all formats.

Ease of use has been at the forefront of the design, to ensure trading is still quick, easy and accurate. All of the 120+ assets that can be traded online are on the mobile app too.

The application is secure, with the latest financial mobile technology protocols applied. Deposits can be made across a number of methods. This ensures traders are able to react quickly to changing markets or updates.

Open trades and account balance are available on the app. There are also areas delivering news and events, plus market movers and other trader alerts.

The app is quick and easy to use. This allows real trading while on the move. It has also gained good reviews from users who have rated it. (4.0 out of 5.0 from over 800+ reviews).

Trading Choice

EZtrader offer options on forex, commodities, stocks and indices. The main range is stocks. EZtrader offer stock from the Europe, the US and across Asia. The ranges elsewhere may not be the largest in the sector, but all the major assets are there.

Payout

EZTrader deliver returns of between 75% and 95% on options. This rate can change based on the asset and expiry time. For example, long term options might offer returns larger than 400%, based on how far ahead the expiry is.

EZtrader Withdrawal options

EZTrader offer a large range of deposit methods. The location on the trader will affect which options are available. The minimum deposit (for funding a new account) is £200.

Withdrawals via EZtrader require accounts to be verified before a withdrawal can be made. Verification can be done at any time. Delays in these steps can lead to delays in withdrawals so verify accounts early to avoid these delays.

Once an account is verified, withdrawals are be made by the ‘My Account’ screens. As with most brokers, EZTrader will only allow withdrawals by credit card to reach the same amount as was paid in via that card. Any profit beyond this must be taken out via a different method. This follows most firms and is part of money laundering safeguards.

Wire transfer refunds incur a £15 fee. These withdrawals take around a week to complete. This is too long, so it something EZTrader need to look at.

Other features

EZTrader offers its clients the following features and benefits:

  • EZPay Meter – A nice rebate feature which allows active traders to rewards
  • New education packages – A full range of education tool have been added in recent weeks.
  • EZDay – These are regular bonuses made available to frequent traders.

EZTrader Demo Video:

Asset Index

Here is a full list of the assets available at EZTrader.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Demo Account!
    Free Trading Education!
    Get Your Sign-Up Bonus Now!

  • Binomo
    Binomo

    Good Broker For Experienced Traders!

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