Read our Acuitytradesfx review to see if this broker is a scam or legit. Just to clear doubts, this is a acuitytradesfx.com review.
Do you want to engage in binary options trading? It does not matter what type of trading you are interested in, the fact is that the internet has made it convenient for people to trade from anywhere and whenever they want. This kind of convenience is unmatched, but there are also challenges involved like finding a dependable and professional brokerage to help you get started.
The problem is that the markets are also rife with mediocre ones, along with scams, such as one this Acuitytradesfx review highlights. It is such brokerages that you want to avoid because these are only trying to pocket your money.
While the type of trading you wish to engage in may not matter, the brokerage you choose is certainly going to make a difference. You have to bear in mind that no two companies are created equal and no matter how similar their services may appear, there will always be differences.
Most importantly, there is a good possibility that they may not be genuine because scammers are quite widespread in this space and just looking for an opportunity to exploit people.
You do not want to be exploited and just want to make money, which all depends on the brokerage you will open an account with. If it is the right one, you will be able to move towards your goal, but if you make a mistake and choose a fraudulent one, you will be out of your hard-earned money.
But, how do you make the right choice? The key is to do your due diligence and never fall for the claims and promises a company makes. All of them will try to attract you to their platform, but you have to ensure that they are really up and up.
As it turns out, one of the binary trading brokers you will come across is Acuitytradesfx and even though the company tries its level best to convince you of its authenticity, you will find plenty of reasons to avoid it. What are they? Some of them are outlined as follows:
No license and regulation
Choosing an unlicensed brokerage when you know there are scammers operating in the market is like deliberately leaving yourself vulnerable. Why would you do that when you can find perfectly legitimate brokers to trade with?
There are a number of licensed and regulated platforms that can also be found, which can deliver you quality services, combined with transparency and security. You can get safety of funds and know that your money is not going to be stolen.’
The license will depend on where the brokerage is operating from, which means you need to know where they are based. A look at the Acuitytradesfx website shows that it has its offices in Manhattan, New York. In order to operate from there, the brokerage needs a license from the Commodity Futures Trading Commission (CFTC) and also have membership of the National Futures Association (NFA).
But, when you check the online registers of both these entities, you will not find Acuitytradesfx listed at all. What does this tell you? This means that the brokerage does not have a license to operate in the US, which indicates that it is lying about where it is based.
Then where is it based? There is no information given, so you will be dealing with a completely anonymous broker and this means leaving yourself exposed because if it steals your money, you will not know who to go after.
Offering trading bonuses
There was a time when trading bonuses were the norm in the online trading space and were considered an incentive. However, it became apparent that the bonus policies were downright malicious and were taking advantage of people by blocking withdrawals, as they came with certain turnover requirements.
Therefore, this practice has been banned in many countries and is generally being avoided by most brokers. Yet, Acuitytradesfx is still offering trading bonuses and this should immediately make you suspicious.
This is because there is a good chance that Acuitytradesfx will also have a malicious bonus policy that asks you to meet a certain trading volume requirement before you can withdraw your funds. The problem is that this requirement is deliberately kept so high that no trader can achieve it at all, which gives room to the broker to steal your money and you cannot do anything about it.
Lack of trading software
You would need a trading software to start trading in the markets and you would obviously want to have access to the best. There are powerful trading solutions available that come with great tools and advanced functionalities that can provide an excellent trading experience. According to Acuitytradesfx, it offers its clients a web-based trading platform, but this does not seem to be true.
What they do provide does not have any trading feature at all. The only option that the so-called trading platform at Acuitytradesfx offers you is the ability of tracking your funds and that is it. This means that there can be no trading via this platform, which renders it absolutely useless. It also makes for an excellent reason to avoid Acuitytradesfx because you cannot trade through it at all.
No refunds possible
Do not forget to look into the payment methods supported by a broker because you want to ensure that you can get your money back if there is a problem. But, you will find that Acuitytradesfx does not intend to give you that option either. This is due to the fact that it only supports one payment method; bitcoin.
Crypto deposits are very popular amongst scam brokers because these payments cannot be reversed. You cannot file for a chargeback like you can do when credit cards are used. Furthermore, payments via crypto are also anonymous, which means you cannot trace your money either. This is exactly what Acuitytradesfx wants because it has no feature that makes it a genuine entity.
All of these are good and strong reasons for you to avoid Acuitytradesfx and look for another brokerage for trading purposes.