FTrade Review

Max Bonus: 100%

FTrade

Rating: 1.0/10

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Broker	FTrade
US Traders Accepted
Company Name	BINEXT SOLUTIONS SRL LTD.
Headquarters	Romania
Regulation	No
Bonus Type	Match bonus
Bonus Size	100%
Max Payout	81%
Out-of-Money Reward	10%
Trading Platform	SpotOption
Deposit Options	Credit/debit cards, wire transfer
Deposit Currencies	Euro, US dollar, British pound
Minimum Deposit	$200
Minimum Trade	$25
Maximum Trade	$2,500
Online Since	2014
Trading Instruments	Currencies, commodities, stocks, indices
Number of Trading Instruments	58
Binary Option Types	High/Low, Pairs, Long Term, 60 Seconds, One Touch, Ladder, FX/CFD
Customer Support Types	Web form, email, live chat, phone, paper mail
Education Offered	How-to pages, glossary, FAQ, market reviews
Tools Offered	Double up, rollover
Languages	English, Russian, Arabian, Turkish
Demo Account	No

FTrade is a SpotOption white label broker operated by a company called BINEXT SOLUTIONS SRL LTD, located in Romania. This company in turn is a subsidiary of BINEXT GLOBAL LTD, itself located in the Marshall Islands. FTrade is unregulated and accepts customers from the USA and around the world. US customers are restricted from trading currencies and commodities (which is an CFTC rule). As of right now, this broker appears to be neglecting their site, so I would not recommend trading with them. Still, I would like to give a rundown on their services in case they can pull it together.

Depositing and Withdrawing on FTrade

If you want to open an account on FTrade, you will run into problems right off the bat. As of the time of this review, if you try to fill out the form and register, you get taken straight to a “page not found” notice. So that is no good.

In theory, if you could register, you would be able to get started with a minimum deposit of $200 (account currencies include US Dollar, British Pound, and Euro). You can make your transfer via credit or debit card or wire transfer. On the bright side, there are no fees associated with withdrawing money, only a $50 minimum threshold. No other limitations are discussed anywhere on the site. One nice thing about FTrade is that they bluntly state in their Terms and Conditions that there are no withdrawal fees—they do not leave you to guess. A lot of brokers simply do not say one way or the other what they charge.

Sadly, this company does leave you to guess with reference to account tiers. There are none listed anywhere on the site. If you navigate to the “About” page, there are a number of tabs along the side. Some of the pages they link to discuss accounts as if different tiers are available for individuals and corporations, but there is no sign of them, so they may be under development (or simply neglected). Either way, you do not really know what you are signing up for. You simply have to hope that FTrade provides.

Trading on FTrade

As mentioned earlier, FTrade runs on SpotOption technology, which is the most popular white label software around for binary options. It is incredibly easy to use, and if you have traded on another site before, you will already know your way around. You can trade on FTrade on your desktop or laptop. I was unable to locate an app for iOS systems.

The minimum trade size on FTrade is $25, and the maximum is $2,500. Both the lower and upper ceilings are a bit higher than is typical for the industry, but still very much in line with standards. Fifty-eight different currencies, commodities, stocks, and indices are available to trade. One thing that FTrade does offer is a reasonable amount of diversity when it comes to types of options: High/Low, Pairs, Long Term, 60 Seconds, One Touch, Ladder, and FX/CFD.

Not a Lot of Other Features

Sadly what stands out the most about FTrade (aside from the buggy site design) is the utter dearth of features and resources. For example:

• There is no demo account for you to use to practice trading before you trade live with real money. This is not a feature which is universally available on binary options site, but it is a very good one, and when it is lacking, I am never impressed.
• While educational resources are promised in some of the “About” pages, the site does not actually deliver. I was unable to find anything more than these basic informational pages, a glossary, and a Frequently Asked questions page. There was no sign of an eBook, video tutorials, or anything else save for market reviews. Stating that resources are available but providing no resources does not do much to build my confidence in this broker at all.
• Aside from double up and rollover, I found no other trading tools like early close, social trading, or signals.       All of these are very helpful for guiding traders and assisting them with making smart trading decisions.       You have next to no control here.
• There are apparently bonuses for deposits as well as referrals, but the website fails to mention how much they are.       A number of affiliates mention a 100% match bonus, so this may be the amount. Still, all this vagueness in the way of promotions is unhelpful and not very promising.
• The customer service page lists a web form, email address, and phone number, as well as a link to live chat. If you click the link to chat with someone, nothing happens. There isn’t even a window that pops up. So there is no fast and easy way to get a hold of anyone.

This Broker Falls Short All Around

Unfortunately it is hard to find much at all that is positive to say about FTrade right now. The only thing I can cite that is really great is the fact that there are no withdrawal fees and the company spells that out. Perhaps I could also point toward their acceptance of USA traders while still managing to observe CFTC rules. Many overseas brokers simply do not read the fine print in the CFTC rules and understand them at all.

Aside from that, all I can really list is negatives, but I see no reason to run through the list again since I just did it above. Right now, one gets the impression that FTrade was a project left unfinished. FTrade really needs to polish up their website and get everything in working condition, and they need to provide something solid in the way of features, resources and benefits. Until then, they will sink into the morass of half-baked white label brokers that have yet to establish any sort of individual identity or standout services that help them rise above the crowd.

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