Scam Brokers

SCALATRADE

Summary

Scalatrade binary options broker is a Russian company developed specifically for Russian markets. This broker is owned by NRB holdings Ltd. and handled by Creditcapital SM Ltd. it makes use of the livetrader trading system.  Their offices are based in Harrow, England. They claim to offer an extensive trading instruments range of more than 70 assets. Our review will tell us more about the features and limitations of this broker.

THIS BROKER ISN'T LICENSED

ScaleTrade Scam Review

COMPANY DETAILS:

As mentioned above they are a company which is exclusively tailored for Russian markets. They don’t have an English language website yet but there are plans in the pipe for the same. Also, their trading system is available in IOS and Android app form.

TRADING PLATFORM DETAILS:

They offer the Livetrader/Spotoption trading system for trading.  They also deal with Forex/CFD trading along with binary trading. The binary options available include 30, 60, 90, 180 & 300 – second options, one touch, Ladder and pairs option.

TRADE CONDITIONS:   

  • An initial deposit of $250 on starting a new account
  • Bonuses of up to 150% of the deposit amount
  • Bonuses come with trading volume requirements of trading 30 times the bonus amount
  • Returns in the range of 70-90%

 

LICENSE DETAILS:

Scalartrade is an unlicensed binary options broker. It is a broker made for the Russian markets. Russia doesn’t have a licensing agency like the CySEC. However, a couple of self-regulatory agencies like the CROFR, FMRRC and Crofin are available. Moreover, the FPA has received evidence linking Scalartrade to Optionrally. Optionrally is already considered to be a scam by the FPA. Because of this connection, Scalartrade is also deemed as a scam by the FPA and hence warnings are issued against trading with this broker.

Check out our Scam Guide!

scaletrade scam review

OTHER FEATURES:

  • A wide range of trading instruments which comprises of more than 70 assets
  • Trading available on weekends
  • Safety net
  • Competitive minimum deposit and smaller trade range
  • Options such as double-up and sell option
  • Insurance scheme of deals with return up to 15% of the investment

DEPOSITS AND WITHDRAWALS:

This company claims that the investors can open an account with the firm in less than 5 minutes. They offer a large range of ways to invest and withdraw funds. The minimum deposit can be made using a credit card or wire transfer

Withdrawal request can be made on your private account page or by calling the customer support. The withdrawal process can take up to 2-5 days. The company also requires the submission of identification verification for your first withdrawal. The withdrawal process is free of charge. However, if the withdrawal is made via wire transfer, then the procedure might take 5-10 days and an additional charge of $25 can be made by the bank.

CONCLUSION:

As Scalartrade doesn’t possess a license we do not recommend investing with them. See our reccomended top brokers here!

THIS BROKER ISN'T LICENSED

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