ExperTrades Review: Expertrades.com Bane Binary Scam
ExperTrades (Expertrades.com) is hailing itself as a premium online trading broker. Exper Trades is professing to be an award-winning broker praised and recognized by experts. These are all false claims as the platform is an offshore based platform offering online assets. Some of the services they claim to offer include Binary options, Cryptocurrency, and Forex. What’s the matter with them? Read this full EXPERTRADES Review and get the whole story.
ExperTrades Review
Victims of this online fraud are coming out with claims of never receiving their trading profits. Yes, they traded on the platform, earned profits, and never got the chance to withdraw funds. When the members tried withdrawing funds, they got a rude shock as some had their accounts blocked. Others have been waiting for months as the platform claims they have to reach a certain trade volume. And this is where we draw the line with this platform as we plan to expose their unruly platform.
Online trading can be a lucrative way of earning money especially with binary options. Staying safe is imperative and this is why commendable binary options signal providers come highly recommended. ExperTrades is a brutal platform with a bad online reputation. Investors have already called on authorities to act on the platform and we expect a shutdown soon. With a shutdown looming, it is best to avoid it. Most of the money can’t be recovered as ExperTrades is an anonymous platform.
About ExperTrades
Once you click on their about us page, you will notice relevant data is missing. The history of the platform is missing which means they could just be another new platform. Without the names of founding members, ExperTrades is an anonymous binary options trading platform. Anonymity is a dangerous feature to associate with especially with online trading. You may not be able to recover funds, even after hiring recovery agents. Some of these agents will take your money and never get the job done.
And this is why you must stay away from the platform and never think of signing up. Some of the shocking details we uncovered include false testimony and inexperienced account managers. The platform is a hoax and is openly refusing to allow withdrawals. Without members making any withdrawals, it ceases to become a trading service provider. And this is why we must expose the platform and protect the sanctity of the trading world.
Domain Details
Another disturbing feature with this platform is using false reputation details. If you look at the bottom of their homepage, they claim to be in existent since 2014. Looking at the domain register whois.net, we noticed the platform was created on 19th February 2019. With a year in existence, why would they throw traders off with false information? Scam artists will do or say anything to try and make their platforms appear legit.
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And this is why you must stay away from the platform and never sign up. They are using false information to try and sell their experience. We have to expose them as these are offshore brokers who make odd mistakes. Stay away from a platform that is far from reliable and has no proven reputation.
License and registration with ExperTrades
When it comes to their license and registration, they claim to be regulated by VFSC. The Vanuatu Financial Service Commission is not mandated to offer binary trading licenses. ExperTrades is NOT LICENSED OR REGULATED to offer any trading services in any jurisdiction. Whoever signs up and deposits funds should know there is no depository insurance.
After contacting the National Futures Association, we learnt that the platform is not licensed. Such platforms are not likely to meet the stringent measures taken to protect investors. To operate a binary trading platform in the U.S. you have to deposit 20 million as operating capital. No scam artist has this amount and it is clear ExperTrades is using false license information. Offshore regulatory bodies never have stringent rules.
Disadvantages of ExperTrades
Account Details
ExperTrades is furnishing traders with four account types. Accounts are listed as Silver, Gold, Platinum, and Exclusive. One of the most damaging features with their accounts is promising a daily ROI. These scam artists claim to guarantee a certain profit margin each day.
The ROI listed starts at 20 percent, 40 percent, 60, percent, and 80 percent. No expert or robot can guarantee a fixed profit margin each day. And this is where we draw the line and realize this is a scam. They use this as a tactic to lure investors with a guaranteed profit margin. These scam artists will stop at nothing to make you deposit funds with them.
Account Managers
The platform claims to have an experienced team that combines industry experience and passion. They name these account managers as Brandon Richard, Frank Mathew, Herbert Talton, and Mary Jeo. If you look closely, you will realize these are stock images downloaded from the net. A real trading team would stand behind the company’s logo or profile. These experts are not on any social media platform. Exper Trades is making up characters to act as experienced account managers.
Contact and Customer Support
The platform has an active bot which answers basic questions. When you want more, they direct you to a Whatsapp. The bot will ask you to give your contact details and let the other representative take over. Look for a platform that offers live chat.
Deposit and Withdrawal
After checking their payment policy, we realize the platform holds funds for a reason. They will give false information and never allow traders to actually withdraw funds. Exper Trades is blocking their members from withdrawing funds. One of the reasons given includes having to wait for 45 business days. No other platform in the world has this long waiting period. Most platforms will go for three to four business days. And this is where we urge investors to look for other alternatives.
Trading platform
When it comes to the trading platform, they have a custom-made platform. And this is evident as their platform is unstable and not fully compatible with smartphones. Another disturbing feature with ExperTrades is lack of proper security features. The platform should have DDoS and SSL protection to guarantee client’s safety. Hackers can easily take over this platform and steal vital data such as credit card information.
Safety if funds with ExperTrades
Another problem with ExperTrades is security of funds which is not guaranteed. The platform is not segregating accounts which means members are depositing funds in one account. All trading platforms are barred from pooling funds in one account which Exper Trades is doing. These scam artists are merely refusing to follow laid down industry regulations and rules.
Scam or legit
With the platform failing to show a valid trading license, ExperTrades is a scam. Stay away from any of their affiliate or commission programs. Warn your closed ones regarding signing up with this illicit platform. These offshore scam brokers are in the business of stealing from unsuspecting online investors. Don’t become their next victim and ignore all calls from their account managers.
Final thought
We will be adding this platform to our scam blacklist and ensure no one else falls for this trap. Read our reviews and find out more concerning online trading products.
Stay safe and use only industry backed brokers and products.
April 4, 2020 @ 1:35 am
Please Guys beware of Expertrade, I started with them last year November but I recently got to know they are a huge scam Just early last month. Tried all possible means to get my funds but void until I came [Link Removed] Guys please beware of Expertrade they almost ruined me, glad I got my life back on track.