Under the name Forex Explore Limited and with company registration number 11188393, Options Forex Traders claims to be a licensed and authorized company. They claim to have offices in Belize and the United States. Nevertheless, despite these assertions, the company is still unlicensed and has been marked by the Financial Conduct Authority (FCA), which raises questions regarding its veracity and authenticity. This Options Forex Traders review explores the dangers this platform poses and the reasons traders should use caution when using it.
Website: https://www.optionforextraders.pro/
Website Availability: Yes
Official Address:
- 7009 Disney Lane, Slim Avenue, Brooklyn, NY, UNITED STATES OF AMERICA
- Unit 303, No 16 Cor., Blake Building, Huston and Eyre Street, Belize City, BELIZE
Regulation: Unregulated
Warned By: https://www.optionforextraders.pro/
Regulation and Warning from the FCA
Regulation is critical in the forex trading industry because it ensures that brokers adhere to strict guidelines to protect traders. The FCA has issued a warning against Options Forex Traders, claiming that the company does not have the necessary authorization to operate. Due to the lack of regulation, traders’ money is in danger because the platform is not subject to any legal requirements.
The fact that the company claims to be registered under Forex Explore Limited with a company number may seem reassuring, but it’s important to note that company registration alone does not equate to regulatory compliance. Regulatory bodies like the FCA, CySEC, and others provide oversight and protect traders from fraud, which is lacking here.
Location Discrepancies
Options Forex Traders lists its location in both the US and Belize, two jurisdictions with vastly different regulatory environments. For example, the United States has strict laws on forex trading, requiring brokers to register with both the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA). Conversely, Belize is renowned for its lax regulatory standards. The combination of these two locations can create confusion and further raise suspicion about the company’s true nature and legitimacy.
Risks Involved in Trading with Options Forex Traders
Given the company’s unregulated status and the FCA’s warning, trading with Options Forex Traders poses significant risks. There are numerous reports of traders facing withdrawal issues, poor customer service, and sudden account freezes. If clients’ funds are mismanaged or lost, they have little to no remedy in the absence of regulatory protection.
Conclusion
Finally, Options Forex Traders highlights several warning signs that prospective traders shouldn’t overlook. From its unregulated status to the FCA’s warning, the platform lacks the essential elements of a trustworthy forex broker. Proceeding with caution, or avoiding the platform altogether, is advised.
Options Forex Traders Review – Conclusion
Based on many factors explained above we have finally concluded that Options Forex Traders is a fraudulent broker. Do extensive research on any site before investing.
Be aware of schemes like Forex Trading Deceptions, Cryptocurrency Cons, Internet Dating Scams or Romance Fraud, Pump and Dump Tactics, Ponzi Schemes, Investment Deceptions, Fake Trading Platforms, Phishing Attacks, Robo-Advisors Deceptions, and Binary Options Deceptions.
If you have already fallen victim to Options Forex Traders fraud, take quick steps to recover your money. While the process can be tough, patience and completing the proper steps can improve your chances of receiving your money back from Options Forex Traders.
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Note: The Options Forex Traders review is influenced by some existing reviews online and we have created original review based on known facts. We are not responsible for any legal actions taken by any entity favoring Options Forex Traders company.