Exchange Traders is a relatively new Trading Room offering live trade sessions specifically catering to the Nadex platform. At first glance, this may seem like an exceptional opportunity for US traders; however, we encourage you to read this unbiased Exchange Traders review before registering and paying their biweekly subscription fee. Our review sheds some light on whether this service is actually worth the price you will be paying.
Exchange Traders, found at exchangetraders.co, is presented as being a legitimate live trading room who offer their members live trade sessions specially designed to be executed on the Nadex Broker platform. Due to the unique and complex layout and operation of Nadex, newbie Binary Options & Forex traders alike, may find themselves drawn to Exchange Traders like a moth to a flame. Except in this case, you might actually be burnt.
The creators of this trading room offer their members one trade session per day, from 9:00am to 9:30am EST and operates from Monday – Thursday only (except Major Holidays). During these sessions, members will receive anywhere from one to three trades, while the assets traded will be currencies only. A supposed Master Forex Exchange Trader called Chris executes the trades. They also offer daily Q & A sessions. That is about all the information provided to potential investors, which in reality is nowhere near sufficient.
Questions You Need to Ask Yourself!
While conducting research for our Exchange Traders review, we came across interesting information. This lead us to note down some questions that we feel you should be asking yourself before going forward with this service. Firstly, it is important to note that Exchange Traders is not free. It comes at a cost of $87 biweekly. To put things in perspective for you, that’s $188.50 a month. Here is the first question you should be asking; Is it really worth it?
There are plenty of noteworthy signal providers who offer more and are substantially cheaper. Some are even free. So apart from the Nadex feature, what is so special about Exchange Traders? From the information provided to us on their website, alongside some reviews we examined online, the answer is nothing really. We have seen better offers. For example, more valuable alternatives, can be found by visiting Watchdog’s Top Binary Options Signals services.
Speaking of their website, this brings the next question into play. Is Exchange Traders a scam? While they considerably lack commonly found misleading & deceptive tactics used on most scam sites, we are however, concerned about the amount of content found on exchangetraders.co, which is next to nothing. The content is seemingly uninformative.
Background & Testimonials
Pursuant to the above, we noticed only three alleged member testimonials. These statements had no faces attached to them and seemed more like written advertising scripts with names assigned to them. There is no way for us to validate these testimonials. Furthermore, the extremely blurry video clip showing the alleged ‘Chris’ who also does not provide a last name, demonstrating how the service operates by executing only one winning trade, is only a voice talking. Again, no face is shown for us to investigate his actual identity.
With Exchange Traders having been registered since December 2015, one would assume that by now they would have a decent trade history to show prospective members. Alas, that is not the case. Without any previous trades for us to analyse, we cannot comment on their performance of the service, as there is simply nothing to go on.
Furthermore, Exchange Traders was created by the same guys who brought us Night Owl Signals. Some of our followers may remember that we blacklisted Night Owls as a scam some time ago. The fact that the same people are behind Exchange Traders is certainly cause for alarm bells to start ringing in our heads, as they should be in yours too.
Additionally, the two programs are very similar in nature. In fact, they are almost identical with only minor differences present. Both services offer short one or two morning trade sessions, they both offer between one & three trades per session and both are offered for the exact same price. Unless you are trading part time, no trader can take these offers seriously, as it would be hard to earn a decent profit off a few trades in a short time period.
Exchange Traders Review Conclusion
In light of the information we have discovered, or should we say lack of any verifiable information, we are left with no choice but to blacklist this trading room. We do not recommend any traders to sign up with a service in which the creators cannot provide any tangible proof of their credibility or success. Notwithstanding the fact that other services provide more options, have a stronger reputation and cost a quarter of the price if not free. An example of this would be Michael Freeman’s FREE manual signals group on Facebook.
Review Verdict: Exchange Traders is a Scam!
Blacklisted Site: exchangetraders.co
If you are a current member of Exchange Traders Live Trading Room and feel we have perhaps been unfair in our review conclusion, please feel free to comment below with your experience and any credible proof of your success using the trading room. Until we receive more feedback from current members, the outcome of this review will remain as is.