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EZTrader a huge scam

broker-eztraderEZtrader (Or EZ Trader) is a binary options broker that you may already know. If you have any experience with them, unfortunately, it probably isn’t a good one. We have talked about them a little in previous article.

Is EZ Trader  a scam?

Yes, EZtrader broker is a scam because of the following reasons:

  • In 2015, the company WGM Services received a fine of € 340,000 from the Cypriot regulator CySEC for a failure to comply with many conditions (Official CySEC statement)
  • Broker’s activities regarding bonuses and withdrawals are not permitted
  • Before any money withdrawals is possible, you are required to make at least three trades, which is incidentally also against the terms of the regulator
  • In order to make a withdrawal, it is necessary to close your trading account, which means paying a fee of 10% of the entire amount in the account, the minimum withdrawal amount is € 100

A sad fate for the traders

One would think that no one could possible trade with a broker who has such a bad reputation, however, the opposite is true. According to statistics from an independent provider, there is still the same amount of people visiting the website. This means that there still are many of us, who send money to this broker. It is about 200,000 people from around the world per month! 🙁

eztrader-traffic-statistics

Traffic statistics of the broker EZtrader

Online forums and discussions show how the real traders are furious about this broker and their practices. We can see that even if a person asks to withdraw money, it does not always end good! The broker simply leaves all the money and sends traders to go to h….. or simply does not respond to any messages. Yuck!

More information on scams

Author

J. Pro

More about the author: J. Pro

Unlike Stephen (the other author) I have been thinking mainly about online business lately. I wasn't very successfull with dropshipping on Amazon and other ways of making money online, and I'd only earn a few hundreds of dollars in years. But then binary options caught my attention with it's simplicity. Now I'm glad it did because it really is worth it. More posts by this author

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The financial products offered by mentioned companies carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.
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