Option Trade Live FX Scam | Broker Review

Option Trade Live FX Review: A Forex Trading Scam

Forex trading is a legitimate and rewarding way to make money online, but it also comes with many risks and challenges. One of the biggest threats is falling prey to a Forex trading scam, where a dishonest broker or platform takes your money and runs away. Option Trade Live FX is one such broker that has been exposed as a scammer and a fraudster. In this article, I will share some facts and evidence that prove that Option Trade Live FX is a Forex trading scam that should be avoided at all costs.

What is Option Trade Live FX?

Option Trade Live FX is a Forex and CFD broker that claims to offer a variety of assets and trading tools on the MetaTrader 4 platform. According to its website, Option Trade Live FX is regulated by the Cyprus Securities and Exchange Commission (CySEC), and has offices in Cyprus, UK, and Australia. The broker also claims to offer direct market access (DMA) execution, low spreads, high leverage, and fast withdrawals.

How Option Trade Live FX scams its clients

Option Trade Live FX uses a number of deceptive and fraudulent tactics to scam its clients and steal their money. Some of these tactics include:

  • Fake regulation and registration. Option Trade Live FX claims to be regulated by CySEC, but this is a lie. CySEC has issued a warning against Option Trade Live FX, stating that the broker is not authorized to provide investment services in Cyprus or any other country. Option Trade Live FX is not registered or licensed by any reputable financial authority, and it operates illegally and without any oversight or accountability. Option Trade Live FX also uses fake addresses and contact details in the countries it claims to operate from, and does not have any physical presence or customer support in those locations.
  • False advertising and misleading information. Option Trade Live FX advertises itself as a reliable and reputable broker, but it does not deliver on its promises. Option Trade Live FX does not provide its clients with the trading conditions and features it advertises on its website, such as low spreads, high leverage, and fast withdrawals. Instead, Option Trade Live FX charges hidden fees and commissions, manipulates prices and spreads, and delays or denies withdrawal requests. Option Trade Live FX also uses fake testimonials and reviews to lure in unsuspecting traders and create a false impression of credibility and trustworthiness.
  • High-pressure sales tactics and aggressive account managers. Option Trade Live FX employs a team of sales agents and account managers who contact potential and existing clients via phone, email, or chat, and pressure them to deposit more money and trade more frequently. These agents and managers use various tricks and lies to convince their clients that they have access to exclusive trading opportunities, signals, and strategies that will guarantee them high profits and bonuses. They also discourage their clients from withdrawing their money, and threaten them with fees, penalties, or account closure if they attempt to do so.
  • Theft of funds and identity. Option Trade Live FX ultimately aims to steal as much money as possible from its clients, and it does not hesitate to use any means necessary to achieve this goal. Option Trade Live FX may refuse to process withdrawal requests, close accounts without warning, or simply disappear with the clients' funds. Option Trade Live FX may also ask its clients to provide personal and financial information, such as ID documents, credit card details, or bank statements, under the pretext of verification or security. Option Trade Live FX may then use this information to access the clients' accounts, make unauthorized transactions, or commit identity theft.

How to identify Option Trade Live FX as a scam

Option Trade Live FX is a Forex trading scam that can be easily identified by looking for some common red flags and warning signs. Some of these signs include:

  • Lack of regulation and licensing. Option Trade Live FX is not regulated or licensed by any reputable financial authority, and it operates illegally and without any oversight or accountability. Option Trade Live FX is not registered or authorized to offer its services in any jurisdiction, and it does not comply with any rules or standards of conduct or protection for its clients. Option Trade Live FX is also not a member of any compensation scheme or dispute resolution mechanism, and it does not provide any guarantee or security for its clients' funds.
  • Unrealistic and exaggerated claims. Option Trade Live FX makes unrealistic and exaggerated claims about its trading conditions and features, such as low spreads, high leverage, and fast withdrawals. Option Trade Live FX also promises its clients unusually high returns and bonuses, with little or no risk. Option Trade Live FX does not provide any evidence or proof to back up its claims, and it does not disclose any of the risks or costs involved in trading with it. Option Trade Live FX also uses fake testimonials and reviews to create a false impression of credibility and trustworthiness.
  • Unprofessional and unethical behavior. Option Trade Live FX behaves unprofessionally and unethically towards its clients, and it does not respect their rights or interests. Option Trade Live FX uses high-pressure sales tactics and aggressive account managers to pressure its clients to deposit more money and trade more frequently. Option Trade Live FX also manipulates prices and spreads, charges hidden fees and commissions, and delays or denies withdrawal requests. Option Trade Live FX also asks its clients to provide personal and financial information, and then uses this information to access their accounts, make unauthorized transactions, or commit identity theft.

Conclusion

Option Trade Live FX is a scam broker that should be avoided at all costs. Option Trade Live FX is not regulated, transparent, or trustworthy. Option Trade Live FX will lure you in with its attractive website and positive reviews, but it will scam you out of your money and disappear. Option Trade Live FX will not provide you with any service or support, and it will not honor your withdrawal requests. Option Trade Live FX is a Forex trading scam, and it is a scammer and a fraudster. If you have been scammed by Option Trade Live FX, or if you are thinking of trading with them, I advise you to stay away from them, and to report them to the authorities. You can also contact me if you need any help or advice, or if you want to share your story with me. I hope that my article will help you avoid falling victim to Option Trade Live FX, or any other Forex trading scam. Thank you for reading.

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