Optiontrades24.com portrays itself as a new Bitcoin trading hub wherein the participants doesn’t require any experience to profit from the markets. They are allegedly involved in mining as well and they even claim to offer asset management services. Any regulatory history of their fund managers is not disclosed to the public and the identity of the creators of this firm is still a mystery.
According to their website they also offer binary trading services in the US, but as they are not recognised by any authority, it is clear that they are bluffing. The world of online investing will always be haunted by fake platforms like this one. So, to understand the true motives of this firm and know about the traps set up by them, go through our thorough review.
Certificates, Legal Status and Customer Support
Organisations or firms which operate in the financial markets and raise money from the public to fund their trading activities have to adhere to strict guidelines. In the past, many scams have raised in the markets which exploits the lack of understanding displayed by the participants to make money for themselves. Nowadays, despite many policies and efforts taken by the government to educate the investors, but still the sector is not entirely free of frauds.
So, you should always run background checks and ensure the security of the funds in the first place. This platform claims to be a legal entity operating from the US and even has the guts to provide a physical address. However, all their claims are false because they are not on the radar of any regulatory authority.
Moreover, providing binary options trading services in the US without being regulated is a serious offence and they will face severe consequences for their actions. Moving on to the customer support aspect, this firm interacts with the public through email for the most part.
Support staff is known to be very manipulative and they certainly follow unethical practices to make you deposit with their platform. Once they get access to your funds, you are no longer useful to them which means most probably your account will get either blocked or terminated. Below is the list of their contact details as mentioned in their website.
Address – 3238 Doctors Drive, Los Angeles, California, 90017 USA
Phone – +1 (323) 892-2473
Email – email@example.com
How does Optiontrades24.com Work?
The core idea behind Optiontrades24.com is simple in theory. Investors have to choose the amount of money and the maturity period they want and once the terms are locked in, they just have to collect the profits in the end. If trading was really this easy, then chances are everyone would be doing it, right?
Their entire narrative around trading, mining or about the exchange part is scarce and they haven’t done anything to instill confidence among the investors. For example, we do not know the strategy used by them to trade the cryptocurrency markets. The investors don’t have a clue about the risk management system used by this firm and the performance report is not disclosed to the public.