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FXPro Review – Forex and CFD Broker

FXPro is a UK-based Forex and CFD broker. It was founded in 2006. In 2010 FxPro UK Limited became regulated by the FCA (UK Financial Conduct Authority; registration 509956). FxPro Financial Services Limited are also regulated by CySEC (license number 078/07), MiFID, which allows them to offer their services anywhere within the EU, and the FSB (the Financial Services Board) which allows them to accept clients from South Africa.

FXPro is quite a popular Forex broker in the UK, Japan, South Africa and Europe.

fxpro.co.uk

Support and Contact Information

FXPro’s headquarters in the UK are in 13/14 Basinghall Street, City of London, EC2V 5BQ. Their phone number is +44 (0) 20 7776 9720. Email: info@fxpro.co.uk.

Their operational headquarters are in Cyprus: Karyatidon 1, Ypsonas 4180. Telephone: +357 25 969 200. Email: info@fxpro.com.

They also have an administrative office in 26, Boulevard des Moulins, Monaco, 98000. Telephone: +44 (0) 203 151 5550.

Support is available via email, telephone and a live chat.

FXPro Platform and FREE Demo

The trading platform used by FXPro is the MetaTrader4 (or MetaTrader5), although people can choose to use the cTrader trading platform, which is compatible with cAlgo. This allows traders, who are looking to automate the trading process, to create trading robots. MT4 users may use FXPro Quant to create expert advisors using technical indicators or to download ready made trading robots from FXPro’s library of EAs. A third available platform is the relatively new FxPro Markets which offers tight spreads and single-tap order execution. You can test FXPro’s platforms by signing up with their free demo account.

FXPro Reviews

One person asked us: “FX Pro any good, regulated, recommended? I really like using their CTRADER.” To answer this question and determine whether FXPro is a legitimate Forex broker or a SCAM, we need to take a look at some of the reviews written by FXPro clients.

Well, let me start by saying that this is a serious broker. This is not some white label binary options website which was set up in 1-2 weeks for the sole purpose of scamming people. However, the fact that FXPro is a serious and long established broker doesn’t mean it’s necessarily the best choice as for a Forex broker. And it doesn’t mean everyone is satisfied with FXPro.

Now, before we dive into what is offered by FXPro, let’s go over some of their reviews. They do have a lot of positive reviews, however, there are some who claim that FX Pro are paying non-clients to leave fake positive reviews for them. Whether this is true or false doesn’t really matter to us as we always give more weight when writing a review to the negative reviews than the positive ones.

Here is a partial list of complaints real traders have left about FXPro:

On April 2017, one person wrote: “Those guys are thieves with the mask of a reputable broker. During the night before the Turkish referendum, they widened the spread of USD/TRY from 12 units, to 20, 50,80, 150, 200 and finally 350 units (!!!) causing a fake movement even 4 hours BEFORE market close!! I am client on more than TEN other brokers and the maximum offset between BUY and SELL prices was 25 up to 115 units the same time for the same pair. Same thing is happening with many more instruments. And when they receive mails about this, they Block your accounts.”

Another person left the following comment: “1) Their servers (maybe intentionally) got slower and slower during critical times for trading (like news or near market close), inflicting huge slippages with silly requotes, leading the trades to a catastrophe.
2) They use a very sinister spread widening strategy (BEYOND any logic), inflicting fake movements to specific trading instruments on certain times (I can present very analytical evidence). One example: they widen the SELL and BUY prices of natural gas, from 7 units -which is already a relatively high spread – to 10,20 or even 30 (!), every night, making it to go up AND down by almost 0,40 %, with no other broker doing the same thing!
3) They are lowering the leverage or even block the accounts of the clients who are profitable finding ridiculous excuses like night trading, NBP abuses etc.
4) when they notice that one client understand all the above, they block his accounts and stop responding to emails.

DON’T trust Fxpro.”

Back in February 2017, someone gave them two stars and wrote that “they so slow. at the terns they say your job is done at 1 workday. it is a big lie. i am waiting for nothing. the live chat has nothing to do. they just say hello’ we will work on it but nothings happens.”

Another interesting comment was published in December 2016: “A lot of times I missed perfect opportunities to enter trade in fast moving price because of re-quote. They don’t charge commission but their spread is so high as compared to ECN/STP brokers that they actually charge a lot more. I moved to an ECN broker who charges commission but I’m paying half in spread+commission than what I paid to Fxpro just in spread. Also, after reading a lot of horror stories about Fxpro not paying up profits, I’m glad I left this bucket shop.”

Let’s take a look at one more comment from 2016:

“I will never trust in FXPro, I traded with FxPro for long time, I have fixed account, after long time of traiding, I found that, the positions closing not in the same price which I requested, specially in SL, if the price was near of SL, don’t be surprise if you see the price move up/down or the spread move wider more just to close your positions, and if you ask the company by chat or send email about the reason, the answers always same, there was some news or abnormal moving in the market and the spread is coming more wide. NO way to return anything from their side. I informed them that the account is Fixed spread, they answer that the fixed spread is working only in normal condition of the market, and anywhere / anytime, if you see the spread is wider, they have answer, the market was in abnormal condition. (they only do copy/paste of the answer). Also, if I opened many orders during news, all orders closed in negative side, even if my orders was LONG and the price moved up, it closed because I put SL, and they make the spread MORE wider just to close the orders with HUGE loses. It was really bad for me to trust in that broker. My advice for everyone, be carful from FxPro.”

As you can see, many people are really unhappy with FXPro. Most complaints are about price manipulations which cause client losses. This serves as a reminder that you should never sign up if there’s a conflict of interest between you and the broker. This conflict of interest exists with most non-exchange binary options brokers as well as with non-ECN Forex Brokers.

FXPro Review Conclusion

At this point, we have no interest in reviewing the specific features offered by FXPro. Even if this is not a full-fledged scam, this broker doesn’t seem to be legitimate so we wouldn’t recommend them to anyone. Please sign up only with trustworthy Forex brokers.

What’s your opinion about FXPro? Please share with us below!

AllDayOption Review – Binary Options Broker

Every once in a while we’re asked about a binary options broker called AllDayOptions. Their website is alldayoptions.com. One person wrote us: “I invested $2750 and currently my account is nearly $8 000. I tried to make a withdrawal, but they cancelled everything and traded on my behalf. I tried to contact them for more than 2 months now – by e-mail as well as telephone – with no success.”

alldayoption.com

Seems like AllDayOption might be a scam. If you have an account with AllDayOption or you were thinking about getting one, you better read this review first.

According to AllDayOption.com, the website is currently “operated by Indy Group Ltd., R.A. Ivan Vazov, 36 Burel Str., Sofia District (Metropolis), Metropolitan Municipality, Triaditsa Region, Sofia, 1408, Bulgaria.”

The support email is support@alldayoption.com and they also have a call center in the following locations: London (+442038070058), Russia (+74996092660), Zurich (+41435500255), Toronto (+16478463366), Syndey (+61288800126) and Wellington (+6478084080).

In February of 2017, they suffered a tremendous loss of popularity and have been on the decline ever since. Currently, they mostly target traders in the UK, Argentina, Mexico, Russia and Peru.

The domain itself was created in 2009. It was functioning as a binary option trading site as early as January 2012, making AllDayOption one of the earliest binary options brokers to have existed.

AllDayOption.com WHOIS at ICANN

It seems strange, and is clearly wrong, that according to AllDayOption.com, the site is owned by Indy Group Ltd., but according to the WHOIS, it is registered under Dzianis Bahbanau from Gold Horizon Ltd.

However, the most concerning issue about AllDayOption is the fact that they are not a regulated broker. If you don’t already have an account with them and were considering to open one, we would advise against that. There are so many great regulated binary options brokers nowadays that it’s pointless to risk yourself by going with a non-regulated broker.

Unfortunately, there’s not much information about this broker and we didn’t get a lot of feedback from traders. Here’s what we were able to find.

On Forex Peace Army, one person wrote regarding AllDayOption.com in March 2017: “I strongly believe I have lost my investment of £27.5k. Initially ‘looked after’ by a ‘Liam Hammond’ and then ‘Logan Wilson’. A £5k transfer was ‘lost’ at HSBC the director of finance Dee Miller said he’d authorised a return to my account then stopped answering my calls and emails. I have not had a response for 30 days now. There is no answer on their phone line. I tried to withdraw some money from my account but received an email telling me my request had been cancelled. I note the orginal Company name ‘Goldview Ltd’ on their website no operated by ‘Indy Group Ltd.”

Back in 2015, one person from Latvia commented on BinaryOptionsWatchdog.com, asking: “cienitais suns es gribu zinat vai everyoption un alldayoption ir scam .un vai no viniem ir kaut kada veida iespejams dabut atpakal savu naudu kas ir tur mana konta 4117eiro.uz maniem zvaniem vini neatbild.un uz e pastiem ari neatbild.”

In case you don’t read Latvian, this guy was not able to withdraw his 4117 euros. He says the support was not responsive.

Back in 2016, there was a binary options broker called Interactive Option which scammed a lot of people and then closed down. According to at least two reports we received, AllDayOption contacted people who were scammed by InteractiveOption and telling them that “their company is taking legal action against Interactive Option as they have some kind of contact with people who used to work there. He said that as part of the case they received everyone’s contact info from Interactive Option. He has stated (verbal only) that by creating an account and depositing $250 they will add me to the legal action to get my money from Interactive Option.”

The second report is similar. The person was contacted by someone who claimed he was with InteractiveOption “and he claimed he was travelling for them to open new offices and when he returned to his office discovered the they were closed. He claims that he is contacting me because they started a class action lawsuit using the CySEC lawyer against Interactive and asked if I can send proof of my investment with them to help at the lawsuit, but he also asked me to open an account with their new company, AlldayOption, with a minimum of $5000 so that my Interactive  funds gets transferred to this account, stating that that was the condition of joining their lawsuit. I.e. Extortion with do documentation for anything he is saying. No thanks. I wanted your advise how to joint a lawsuit against Interactive to get my $25,268 back.”

Needless to say, no lawsuit was ever launched by AllDayOption.

We could go on and on and list all the complaints we received about AllDayOption over the years. Back in 2015, they inherited or purchased the clients which were scammed by a broker called EveryOption. This is only a small section from a comment we received: “they closed the EveryOption website and merged with AlldayOption.com. They promised that every client’s account from EveryOption would be transferred to the new trading platform. Needless to say- I’ve been blocked and can’t Login to my account which is supposed to be on AlldayOption after the merger. EveryOption.com as well as AlldayOption.com is a huge scam. RAISE THE REDFLAGS EVERYONE. PROCLAIM IT FROM THE ROOFS!”

AllDayOption Review Conclusion

If you already have an account with AllDayOption, don’t send them anymore money and good luck with getting that money back. If you need help with that or if you have been scammed by AllDayOption, please comment below.

If you don’t already have an account with them, congratulations! Don’t even think about opening one!

AllDayOption, even if not a scam, is clearly not a trustworthy broker. Only ever sign up with regulated brokers!

If you would like to consult with us about anything related to binary options, Forex and bitcoin trading, then please feel free to contact us.

Anyoption – Binary Options Broker Review

Anyoption is one of the oldest binary option operators. Established in 2008, the broker has racked up all sorts of trader feedback over its almost decade-long existence. There are some scam reviews about them out there, but the operation is legitimate, and moreover, it’s licensed by CySEC. They actually work fairly, within the limits the single market-maker business model that they’re pushing allows, of course. Traders should educate themselves about the advantages and limitations of this business model.

AnyOption

The company behind Anyoption is Ouroboros Derivatives Trading Ltd, based in Nicosia, Cyprus. The support branch of the operation is probably located in the UK, as they have a UK phone number listed among other support contact-methods.

As a regulated and licensed broker, Anyoption are fully compliant with the MiFID directives the EU has put in place for financial operators such as Anyoption.

Why should you register an account and trade with Anyoption though? The operator has its own, proprietary trading platform, which is unique and which offers access to more than 200 underlying assets. The minimums are great (minimum deposit and minimum trade amount) and the returns are more than decent. Anyoption accept all comers from all over the world. Indeed, the site as well as the trading platform is available in more than a dozen languages. Their outstanding support is available around the clock, seven days a week.

Just about the only downside to this broker is the fact that its in-house developed trading platform does not offer a free demo account option.

Anyoption Trading Platform

As said above, the Anyoption trading platform is one of the oldest such platforms in the business. While in its beginnings, it did have some issues, those have long been ironed out. The user interface is straightforward and self-explanatory, and the basic features offered are quite industry-standard. For instance, traders can track their open trades through a series of handy, chart-based graphs. There’s much more to the Anyoption software than that though. In fact, features-wise, it is among the industry leaders.

The Live page is the most prominent such feature. As its name suggests, it offers an insight into the moves of other traders around the globe, not only showing their open positions, but also featuring handy statistics of what’s trending and where, and how many Put and Call trades there are on certain assets. Since personal information is not shared on the Live page, traders may also consider it a healthy way to boast about their trades and profits.

At Anyoption, traders can actually choose their own profit percentages. The defaults in this respect are set to 65-71%, with a 15% rebate in case one’s option expires out of the money. These numbers aren’t etched in stone though. Traders can actually tweak these percentages, the same way they pick their assets and expiry times. It is important to note that the risk-reward correlation remains the same regardless of the tweaks.

The Trend feature is something most traders are probably familiar with from other brokers. The SpotOption platform has a similar feature, which is in essence a market sentiment indicator for the option one is looking at. To access the Trend feature, Anyoption traders are required to click the pie icon in the bottom right corner, after which they get the sentiment indicator displayed.

The Reuters Expiry Fields feature lets traders access the real-time expiry quotes of their options. These quotes are taken straight from Thomson-Reuters, and they can be accessed by clicking the “i” icon next to the expiry level, on the Past Expiries or My Account pages. As a matter of fact, through this feature, Anyoption traders can access the whole expiry calculation pertaining to their option, the same way expert traders do.

The Take Profit tool gives traders the option to bail out of a trade before its expiry. Obviously, it will cost the trader a premium to make the move, but in some cases, it does indeed make perfect sense. It also gives the whole setup some additional flexibility. The Take Profit feature will only be available 15 minutes before the expiry of the option, for just 5 minutes.

The Roll Forward feature offers traders a way to stave off the expiry of their option out of the money. Through the use of this tool, traders will be able to postpone expiry to the nearest available expiry time, in exchange for a small premium, of course. Roll Forward becomes available 16 minutes before the expiry of the option, and it will remain available for 6 minutes.

The Anyoption Free SMS service lets high-rolling investors know the outcome of their trades through SMS. In order to access this feature, one needs to buy an option for at least USD100/EUR100/GBP100. In that case, the trader will be asked whether or not he/she would like to receive the result of the trade through a free SMS. This service is only available in certain countries though.

The Show Off feature gives bragging rights a whole new arena to come into effect. It allows those who opt in, to show off their earning through the earnings wall, at Anyoption, as well as through Facebook and Twitter accounts.

While – as said in the introduction – the Anyoption platform does not come with a demo account, there is a sort of demo feature available at the Anyoption website, which guides traders through the trading process, one step at a time. This is called the “demo,” but it isn’t actually a demo account.

The Anyoption platform is web-based and it features superb compatibility. In addition to that, Anyoption have a number of downloadable mobile apps available as well, which cover all Android and iOS-based devices.

Anyoption Education

Anyoption’s education center bears the name Trading Academy. It is mostly video-based, in the sense that most of the educational material it delivers is in this media form.

The first video series is the Trading Guide one, which comprises some 24 videos focused on trading strategies. Of these, 15 can be accessed by all comers, while the rest are only available to those with a registered, real money account.

Beginners and advanced traders alike, are treated to a series of VODs (Videos of the Day), which cover most aspects of binary option trading, from lessons on the global economy, to trading psychology and more.

The product tutorials section contains a series of guides pertaining to various option types. Actual examples are given too.

The eBook selection isn’t a standard one either. It doesn’t have the mandatory platform and general strategy entries. Rather, it boasts titles such as Master the Market in 8 Minutes, the 10 Commandments of Online Trading and Top 5 Trading Tips for Beginners.

All-in-all, the Anyoption Education section delivers an impressive amount of useful information, in an easy to digest format.

Anyoption Option Types

The option-type selection isn’t a traditional one at Anyoption either. Besides the classic Put/Call options, they support One Touch, as well as Long Term options. In addition to those, they have what they call Bubbles, Option+ as well as Dynamic options. The Bubbles are apparently exclusive to this broker.

The way the Bubbles options work is relatively simple. They require traders to select the underlying asset and the amount of investment. A chart is then shown, on which one can make a prediction by moving around a bubble with the cursor. The payout percentage changes, depending on where the bubble is placed. If the graph then bursts the trader’s bubble, the option finishes in the money and profits of up to 1,000% can be realized.

Option+ allows traders to sell at any time before expiry, while the Dynamics offer an interesting twist on the classic binary option equation. They require traders to predict whether the current price level will be below or above the expiry price-level.

All these option-times are demoed nicely, within the actual trading platform. In order to actually trade though, traders are required to open a real-money account.

Anyoption Account Types

Anyoption only support two account types. The regular one, which requires a minimum deposit  of $250, and a VIP one, which delivers a number of extra benefits to traders. Among these benefits, we have the dedicated account manager deal, additional trading tools, exclusive promotions, access to a luxury rewards plan and to private trading competitions. Special surprises and treats are also included in this package.

Anyoption also offer an Islamic trading account option.

Anyoption Support

Anyoption support can most handily be contacted through a live chat feature. They also offer a great call-back service. An email form and an actual email address, support@anyoption.com, are also at traders’ disposal in this regard. The support phone number for the UK is +44-2080997262. It has to be noted that Anyoption support is available 24/7.

AnyOption Review Conclusion

Anyoption is a superb binary option trading destination from all angles. It features great support, there are interesting option-types to trade and a hefty selection of underlying assets. The trading platform is great, and so are the returns/minimums. The only mark in the “minus” column would be the lack of a free, fully-featured demo account.

Open an account with AnyOption

AnyOption.com

Trading with AnyOption? Please leave a comment below and tell us about your experience with them.

Looking for other trustworthy brokers? Visit our Guidelines for Choosing a Binary Options Broker.

Broker name Anyoption
Jurisdiction Cyprus
Regulated Yes
Launched in 2008
Website URL anyoption.com
Trading platform proprietary
Support support@anyoption.com, email form, email, live chat, phone, call-back
Trader Demographics Europe and the UK, mainly
App compatibility Android, iOS, Windows, Mac, Linux
Minimum required deposit $250
Minimum trade amount $25
Maximum return 80%
Customer service Eager to assist, available 24/7
Mobile trading Yes
Bonuses Yes, 100%
Demo Account No

Banc De Trust – Forex Broker Review

Two people have already asked me about bancdetrust.com, which probably means it’s time to take a look at this relatively new broker, Banc De Trust, which was launched less than 3 months ago, on February 28, 2017. They offer access to a Forex and CFDs trading platform.

Banc De Trust

The website bancdetrust.com is owned and operated by Tzemarkad LTD (89560) Marshal Islands. Tzemarkad Ltd. Trust Company Complex, Ajeltake road, Ajeltake Island, Majuro, Marshal Islands MH96960.

However, the Banc De Trust support team is provided by a different company, Dikarnosa management Ltd., 8th Floor,
Ulysses House Foley St., Dublin. They can be reached via email (vipsupport@bancdetrust.com), a form on their website or a UK phone number (+44 20 3519 2592). They also seem to have a live chat feature, which was unmanned while we were writing this review.

The first thing we look for when we review a binary options or Forex broker is regulation. Is BancDeTrust.com regulated?

Unfortunately, Banc De Trust is NOT a regulated broker. Therefore, we are not able to recommend that you sign up with them. However, we are interested in finding out whether they are a SCAM.

We haven’t received any feedback – good or bad – about BancDeTrust. Moreover, absolutely no information is available about them on Google. This must be due to the fact that Banc De Trust is a very new broker.

Even though BancDeTrust is not one of our recommended brokers, we will share some more details with you about Banc De Trust. The platform is web-based so there’s no support for MetaTrader 4. It’s an STP (straight through processing) broker, which means that they send the orders that have been placed by their clients directly to the liquidity providers (banks or larger brokers) without passing these orders through a dealing desk, ensuring no delays and requotes occur. They also offer social trading.

Deposits and withdrawals can be made via credit cards and Skrill. The minimum deposit with Banc De Trust is $500, which will entitle the “Blue” account holder to a bonus of up to 70% (avoid bonuses!), an eBook, daily market analysis, introductory level educational material, signals, an account manager, a 4 days demo account and more. There are better conditions for those who deposit $1,500 (gold account), $3,000 (platinum) and $15,000 (black.) Black account holders can enjoy bonuses of up to 150% and 6 months of signals and demo trading.

We will conclude this Banc De Trust review by asking those of you who know anything about this broker, to leave a comment below or to be in touch and share your story with us so we can warn people in case this is a scam.

If you were considering to sign up at BancDeTrust.com, we would advise against that. There are much better Forex brokers out there with an established positive reputation. Here you may read about our most recommended Forex brokers.

SmartOptions – Binary Options Broker Review

SmartOptions is a binary option broker whose website is smartoptionsbn.com. It’s a new broker, which first appeared on February 2017.

SmartOptions

SmartOptions’ registered address seems to be: M. I. Ridwan Rais Road, No. 5 Central Jakarta 10110, Indonesia.

They can be contacted by email (info@smartoptionsbn.com) or a form on their website. The SmartOptions customer and technical support teams are available Sunday-Friday from 6:00-21:00 GMT. Another email used by this broker is support@tradeoptions.com.

Smart Options claim to be “one of the leading binary options brokers in the industry,” however we never heard of them before someone made an inquiry with us today, asking whether it’s a legitimate broker.

The 81% payout provided by SmartOptions on binary options contracts is an industry standard. Nothing special there.

SmartOptions is said to employ a team of professionals with experience in forex trading, risk management, derivatives and international laws and legislation. They summarize why they believe they are one of the leaders in the industry by saying that:

  1. Smart Options’ “trading platform is 100% web based and thus you won’t have to download any software.” Great, but every broker is the same. Again, nothing special.
  2. “You don’t need to have any previous trading experience to get going.” Right. If you want to lose your entire investment. Binary options trading is a risky business and it requires knowledge and experience or least following signals provided by someone with knowledge and experience.
  3. “The interface is remarkably user friendly.”
  4. SmartOptions offers an educational section, or as they call it an “on-depth training materials.” We hope that they offer members more than the bare 4 short articles about binary options, ladder options, iFollow and One Touch present on their website.
  5. They allow traders to sell their options before they expire.

Perhaps more concerning is that SmartOptions claim they are “regulated by the Cyprus Securities and Exchange Commission (CySEC), under license number 248/14. However, as can be seen below, the CySEC website shows that CySEC Licence Number 248/14 belongs to Holiway Investments Ltd, the company which is behind 10trade.com.

SmartOptions is NOT a regulated broker.

That does it for us. A broker that lies about being regulated is NOT to be trusted. They could have the best platform and terms in the world, but they are not trustworthy.

Another concerning fact is that the WHOIS contact information for the domain smartoptionsbn.com is fake, at least I believe it is. I’m not sure that it’s legal to fake this information. Websites owned by individuals who prefer to remain anonymous usually block the ability to find out who the owner. These guys saved the couple of dollars and just entered false information.

According to their ICANN listing, smartoptionsbn.com is owned by Wesley Howard. The mailing addess is 02 E. Northshore Drive, Dade City CA 85283 US. Now, correct me if I’m wrong, but I don’t think there’s a city by this name in California. The listed phone number (+1.8142258320) has a Pennsylvania area code.

You heard nothing yet. The email listed in the ICANN is “johnarnold304@gmail.com.” Googling this email address revealed that it was also used by the owner of a couple of sites blacklisted on aa419.org (artists against 419), a website which identifies fraudulent websites and makes this data available as a public service. Apparently, the owner of this email address has an history of being involved in fraud!

At this point, we can conclude this Smart Options review with a STRONG disrecommendation. We would advise AGAINST signing up with SmartOptions and we believe that this may be a SCAM!

Please avoid trading with non-regulated brokers in general and with SmartOptions in particular and contact us if you have any questions, feedback or need our expert advice about binary options, Forex, CFDs and bitcoin investments.

Looking for a trustworthy broker? Visit our Guidelines for Choosing a Binary Options Broker or our Forex page if you’re into Forex.