OneTwoTrade Review: An In-Depth Examination of a Troubled Broker
In the shifting world of binary options trading, the company OneTwoTrade has found its unique niche. Many people are interested in them, but not without raising eyebrows. Operating from Cyprus and once regulated by the Malta Gaming Authority, their credentials have come under scrutiny.
Join us as we delve into the world of OneTwoTrade, exploring its legitimacy, trading assets, platforms, and the all-important question: Can you trust this broker with your investments? Keep reading our forthcoming OneTwoTrade review.
OneTwoTrade Legitimacy: A Closer Look
OneTwoTrade is owned by Up & Down Marketing Limited. It is located at Cobalt House, Level 2, Notabile Road, Mriehel, Birkirkara, BKR 3000 Malta. They once held a license, number MGA/CL2/744/2011, from the Malta Gaming Authority.
However, that license is nowhere to be found today. This lack of regulation raises significant concerns, by all means. Trading with an unregulated entity means entrusting your hard-earned money to a faceless entity. The consequences of misconduct are severe, by all means. So, always choose regulated brokers like NSBroker, for example.
We must mention that OneTwoTrade has faced regulatory warnings and blacklistings over the years. The Hong Kong SFC has issued warnings regarding the unauthorized activities of OneTwoTrade. Besides, Canadian authorities, specifically the Ontario State, MSC, and BCSC, have blacklisted the broker. These red flags beg the question: Is OneTwoTrade a broker you can trust with your financial future? The answer is rather obvious – no!
|Up & Down Marketing Limited
|Unregulated Binary Options Broker
|Warnings from Financial Regulators:
|Yes, the Hong Kong SFC, Canadian authorities-Ontario State, and BCSC, MSC
|2011 (2022 for domain age)
|OneTwoTrade Contact info:
|Their UK phone number is +22 203 6959746
|The majority of clients are from:
OneTwoTrade Trading Assets Available: A Varied Assortment
OneTwoTrade offers a diverse range of assets, including 138 stocks, 50 currency pairs, 8 commodities, and 54 indices. While this seems impressive on paper, we discovered that not all of these assets are readily available on their trading platform. This inconsistency can lead to frustration for traders seeking specific assets.
Their platform allows for various options contracts, including High/Low, Long Term, 60 Second, One Touch, and Pairs options. These options provide flexibility, but their execution might not be as seamless as it appears.
To ensure secure trading, opt for legitimate brokers offering a diverse range of assets. These commonly are as follows:
This approach enables you to access a variety of options and maintain a well-rounded trading journey. Prioritizing your safety is of the utmost importance.
OneTwoTrade employs the SpotOption platform with a unique twist, attempting to stand out in a crowded market. Their web platform is user-friendly and offers many trade opportunities. Yet, their mobile applications, available for iOS and Android, fall short. Limited asset listings and a slightly dated user interface leave room for improvement.
Even though OneTwoTrade is powered by SpotOption, a CySEC-licensed provider, its shortcomings remain apparent. The clutter-free interface is commendable, but it might not fully cater to the needs of advanced traders. Because the platform does not offer a sufficient range of indicators, charting tools, and other features, experienced traders may find it difficult to make the most of their trading experience. Also, the lack of an API support system makes it much harder for traders to develop customized strategies and automated systems.
General Trading Environment: OneTwoTrade Accounts
OneTwoTrade understands that traders come in various shapes and sizes. They offer different account types:
- Bronze: For traders depositing $200 – $1,000, with access to the platform and account manager support.
- Silver: Requiring deposits of $1,001 – $4,000, it grants enhanced support and access to trading webinars.
- Gold: Reserved for those depositing between $4,001 and $5,000, with even more bonuses. There is 24/7 support and potential trade execution assistance.
- VIP: For high rollers depositing over $5,001, offering the highest bonuses, account manager trade execution, and one-on-one training.
To access your account, simply go to the OneTwoTrade website and use your OneTwoTrade login credentials. But understand the risks! Despite these options, the terms and conditions for OneTwoTrade withdrawals can be a nightmare. A complex turnover requirement can trap your funds, making it challenging to withdraw your profits.
Bonuses and Promotions: Proceed with Caution
OneTwoTrade got traders’ attention in 2015 with a big welcome bonus of up to 100% on deposits. They also offered different account types and incentives. But hold on a second, before you jump in, let’s talk about this.
Bonuses and promotions can be impressive, like a fireworks show. However, the fine print might be confusing, just like teaching calculus to a parrot. The requirements they give you can tie up your money and make cashing out confusing. Even Einstein would be puzzled. Before you consider getting involved, take the time to carefully review all the details and understand the terms. Keep that in mind.
Can I Withdraw From OneTwoTrade?
OneTwoTrade supports multiple deposit methods, including credit cards, wire transfers, and various eWallets. However, their minimum deposit of $200 and withdrawal fees can be off-putting. Traders should also be prepared for identity verification requirements, which are standard but necessary to prevent fraud.
And what are the types of binary trades offered by OneTwoTrade? OneTwoTrade offers the standard binary options, branded as “SmartOptions,” allowing you to predict the asset’s direction. There are also 60-second trades for those seeking rapid returns. Notably, OneTwoTrade payout is max 85% with the potential for even higher payouts of up to 400% with certain high-yield one-touch options.
OneTwoTrade’s customer support is a silver lining in this somewhat cloudy picture. They offer assistance not only with technical issues. Namely, they offer help with account management and even executing trades on your behalf.
Multi-lingual support ensures you can communicate comfortably in your native language. They also provide access to expert financial advisors who can help you stay informed and make the most of your trading decisions. Furthermore, their customer support is available 24/7.
Trader Reviews: A Mixed Bag
We searched for traders’ reviews, and the results were a mixed bag. Some traders praised their experiences with OneTwoTrade, while others expressed frustration over various issues.
This inconsistency in reviews underscores the uncertainty surrounding OneTwoTrade broker. However, this doesn’t mean that OneTwoTrade is bad – it simply means that traders need to be cautious and do their research before investing their money. It’s important to read the reviews carefully and make an informed decision.
Remember that OneTwoTrade lacks any Trustpilot reviews, which is even more concerning.
Scam Broker Tactics: Protecting Yourself from Shady Strategies
There is no end to the tricks scam brokers can pull. Stay vigilant against the allure of extravagant profits that seem too good to be real. Be cautious of their fake claims about regulations. And don’t give in to their tactics of hurrying you into fast investments.
Always undertake meticulous research before concluding your choices of brokers. Remember, if a suggestion sounds too enticing, chances are it’s a fraud designed to ensnare you. Your financial well-being is important, and staying educated is your best protection against these dangerous tactics.
Long Story Short – OneTwoTrade
To sum up, OneTwoTrade presents a mixed bag of offerings. Yet, their regulatory history raises significant concerns despite their wide range of trading assets and account types.
Unregulated practices and complex withdrawal terms pose potential pitfalls for traders. OneTwoTrade may have had its heyday, but its current status leaves much to be desired. Stay away from OneTwoTrade and TRM Zone, as both lack oversight and are suspicious.
Warning: This broker is no longer operating, and it is not recommended to engage with them. It is crucial to exercise caution and explore other, more transparent options in the binary options market. Your financial security should always be the top priority in any investment endeavor.
If you need help choosing the suitable broker that fits your trading style and preferences, contact us today!
Is OneTwoTrade a Scam Broker?
OneTwoTrade is an unregulated binary options broker. They might be a scam.
Can I Withdraw My Funds From OneTwoTrade?
Withdrawing your money from OneTwoTrade can be challenging due to their complex withdrawal terms.
How to Refund Money From OneTwoTrade?
A refund is possible. Here, you can book a free consultation and find out what to do for a start.