Broker Review PerfecTrades

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Broker Review: PerfecTrades

Today I’m looking at a newer binary options broker the claims to provide traders with winnings of up to 85% on the most popular assets, PerfecTrades. The website consists of testimonials, education, different payment options and account types. I’ll be reviewing each of these sections of the website, and coming to a conclusion regarding the viability of this brokerage.

There is no information about the location of the head offices for this broker, but they do claim to be regulated by CySEC. I’m not 100% sure that they are regulated, because they do not provide us with their regulation license number. Instead of a physical address, they provide us with an email for support, [email protected] and a phone number, (+1) 518-465-6789. Generally, I only sign up with brokerages that have a little more transparency than we are seeing here. The head office address is a must for any company I’m considering depositing money with.

PerfecTrades Review

When reviewing the website and trying to find out who is behind the PerfecTrades brokerage, I tried clicking on many of the links at the bottom of the website, to realize that none of them actually work. There are 14 links in total, under the headlines of education, information and legal, but none of them link to actual pages. As far as I’m concerned, this is a major issue. Above, I highlighted the fact that I would never deposit my money with a broker that doesn’t have an address. The same goes for a binary options broker that hasn’t properly develop to their own website.

These elements may seem small or inconsequential, but I assure you they are everything but. A real professional outfit will have no issues with their website at all, and so when I see an issue like the one I’m seeing here, it raises a major red flag.

Details

  • 790 active trades
  • 6,409 online members
  • 6,305,698 registered members
  • 9,854,678 total payout

The creators of the PerfecTrades brokerage have supplied us with a collection of very strange numbers. First off, I don’t believe that any of these numbers are truthful or legitimate. This broker has little to no reputation in the binary options community, and that’s no way to reach over 6.3 million registered members. I’ve been on this website for some time, and these numbers never change, which makes it clear that they are most likely fabricated.

Another hole in these numbers, is the fact that they claim to have 6.3 million members but only 6400 are online. With this amount of members, they would have a minimum of 50,000 to 100,000 members online at all times. There are just way too many weird discrepancies with this broker.

Account Types

There are 6 different account types currently available with PerfecTrades. Depending on how much money you deposit, you get a larger welcome bonus, access to a broker, the education center as well as trading signals. As there are mistakes and issues in every section on the website, this is no different here. They misspelled the word executive multiple times, and seem to have messed up the deposit requirements for the bronze and silver accounts. It says that the silver account requires a deposit of $1000, but the bronze account requires a deposit of $5000. This makes no sense, because the silver account offers much more than the bronze account.

This is clearly a mistake, another mistake.

Conclusion

I don’t want to totally judge the PerfecTrades platform, but I have little to no faith in the creators of this broker at this point in time. To start, we have no idea where they are located or who we are sending our money to if we deposit. Outside of this, there are plenty of the issues with the website and the general approach by this binary options vendor. In the education section of the website they asked the question what is binary options and then answer, “it is a highly profitable online trading tool that allows you to estimate the amount of potential profit in advance.” This makes absolutely no sense at all, it makes me wonder if the people behind this broker have any knowledge of binary options trading.

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I see no reason to sign up with this broker today. Please let me know your experiences with this platform, by leaving comments and remarks below the article now.

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Risk Warning: Contracts for difference (‘CFDs’) are a complex financial product, with speculative characteristics, the trading of which involves significant risks of loss of capital. Trading CFDs, which is a marginal product, may result in the loss of your entire balance. Remember that leverage in CFDs can work both to your advantage and disadvantage. CFDs traders do not own, or have any rights to the underlying assets. Trading CFDs is not appropriate for all investors. Past performance does not constitute a reliable indicator of future results. Future forecasts do not constitute a reliable indicator of future performance. Before deciding to trade, you should carefully consider your investment strategies, level of experience and risk levels. You should not deposit more than you are prepared to lose. Please ensure you fully understand the risk associated with the financial product and seek independent advice, if needed.

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