Perhaps seeking to grab some of Firstrade’s reputation, this binary options broker chose the name Firstrade Options. This broker is nothing like Firstrade, a US regulated stocks broker. FirstradeOptions is a binary options broker. Actually, we’re not even sure it’s an active broker, however one of our subscribers asked us to check out this broker, so here’s our Firstrade Options review.
Who is Behind FirstradeOptions?
The domain firstradeoptions.com was registered on March 2017 by a certain Frank B from El Centro, California 92243. No accurate address is provided.
His phone number is 17063328247. They also have a UK phone: 442035192136.
Their email is firstname.lastname@example.org and they have a contact form.
We were not able to find a name of the company who operates the brokerage.
In order to withdraw money from your Firstrade Options account, identification documents must be submitted. Withdrawals by wire cost $30. It may take up to 5 business days for withdrawals to be processed. The minimum amount required to withdraw earnings is $100.
Since Firstrade Options is not a regulated broker, they are not prohibited from providing bonuses to their clients. Be aware that accepting a bonus is not recommended. To withdraw your money after accepting a bonuses requires a trading volume of 30 times the amount of the bonus.
Alexa.com has no information about the site and according to SimilarWeb, they do have some traffic, mainly direct visits from India, US, Kuwait and South Africa.
Firstrade Options Review Conclusion
Hardly any information is currently available about FirstradeOptions on their site and elsewhere. At the moment we don’t have any proof that Firstrade Options is a scam, however they are definitely not a broker we would trust. First of all, they are not regulated. They push bonuses, and probably offer managed accounts. Know that most non-regulated brokers are fraudulent companies.
FirstradeOptions.com is an error-ridden site. To mention just one example, the title of the site shown on the browser’s tab is “Fistradeoptions.” Not enough information is provided about the product and services offered by the company. We don’t which assets are available for trade or even which trading platform is used. No company information is disclosed. Moreover, there are fake elements on the site, such as where they claim to offer fast withdrawals (24-48 hours), while in their terms and conditions, a longer time is specified. Or claiming to be “loved” by Nasdaq, 18+, Reuters, Visa and the London Stock Exchange.
In short, this is a very suspicious site. Our recommendation therefore would be to AVOID trading with Firstrade Options!
Got any information about Firstrade Options? Please share it with us in a comment below this review.