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Is FXOptionTrade a Scam Broker?
Sometimes you have to dig a little to determine that a broker may be unreliable. At other times it is as clear as a warning from the UK’s main regulator, the FCA which has urged the public to stay away from FXOptionTrade because it is a clone broker. This means that it has copied its website and has a similar-sounding name to an FCA-regulated broker. This is a deceitful way of trying to steal potential clients from a legitimate broker and give them false services.
Is FXOptionTrade a Scam or Legit Broker?
Although the site design and name may have been lifted from a reliable broker, the content should betray that it is an imposter. The web content does not read as if it was written by professionals who know what they are doing. That should be enough of a tip-off but the FCA warning should be the main reason to stay away.
Here are some problems we have discovered from our research on FXOptionTrade and reviews:
- No license
- Warning from the FCA
- Clone broker
- Badly written content
- Guaranteed returns
- No transparency
Our experts do not recommend FXOptionTrade. We encourage visitors to do research, read our broker reviews, and select regulated brokers. If you have been scammed by FXOptionTrade or any other broker, contact Broker Complaint Registry right away and we can advise you on fund recovery.