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FXtradefair.com Review: Is FX Trade Fair Scam or Genuine?

FXtradefair.com Review: Is FX Trade Fair Scam or Genuine?

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FXtradefair.com is a binary options broker operated by a company known as Gembell Limited. Gembell Limited is also the operator of another binary options broker called Pocket Option. The broker appears to offer one type of trading account only with a minimum deposit of $300. The only trading condition is that minimum bets should be $10. In addition to this, FX Trade Fair offers over 100 different types of trading instruments and charges zero commission on deposits and withdrawals. On top of that, the broker claims that they support over 50 different types of payment methods. These include MasterCard, Visa, Bank Wire, Neteller, Skrill, Bitcoin, Bitcoin cash among others.

In addition to this, FX Trade Fair provides demo trading with virtual money. Most of the time such brokers will give you access to a demo that has too good to be true trading conditions. For instance, price feed will be fake and also commissions will be too good to be true.

We have also realized that FX Trade Fair is an unregulated broker who is based in an off shore location. We highly discourage trading with a broker who is unregulated because most of them are involved in fraudulent activities. There is no safe way to trade with an unregulated broker. Also, while what we have pointed above is considered an advantage of trading with FX Trade Fair, we also think the disadvantages are quite overwhelming and may far surpass the perceived advantages of trading with this broker.

For that reason, we are highly recommending that you should only trade with a regulated broker. Some of them can be found on this list.

FX Trade Fair Review

FX Trade Fair provides a customized trading platform called called Super Trade Option. We have never seen this trading platform before. However, it looks like a typical binary options trading platform for call and put options. This platform does not provide useful trading indicators or analytics and hence it cannot be compared with robust trading solutions like MT4 for example.

FX Trade Fair

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Note: If your language is not English, you should use the language dropdown menu at the top of their page to select your language.

With MT4, we can do a lot of things. Not only is it reliable, but it also comes with a number of advantages which include scalability, ability to trade with expert advisors and a comprehensive charting solution. All these things will help you succeed unlike if you used a trading platform like Super Trade Option for instance.

Social trading is available

FX Trade Fair claims on their website that less experienced traders can copy bets from their most successful traders. The problem is that we cannot establish who these successful traders are and therefore we cannot copy them blindly. It is not clear whether there are any successful traders using this platform. However, according to the trade history, we can see that this site is claiming to have generated some trading activities in the last 24 hours. Again, there is no way to verify the truthfulness of this data. It is an unreliable piece of information which we cannot trust unless we are very naive.

They also provide a list of their top traders with the alleged profits which they have made. Again, this list is unverified and we cannot be so sure whether this list contains real traders and that the profits are real. It is one thing to use fabricated information for the sake of marketing and it’s quite another to provide proof that the figures published therein are real.

Alleged advantages that this platform claims to give include bonuses and rewards for active traders and the possibility of winning gems which can be used for trading as well.

Trading platform

The customized trading platform which is used by FX Trade Fair is designed for Windows, Android and iOS platforms. However, the features of this trading platform are mediocre at best and cannot be compared with those of MT4. It appears that traders can download it on their device if they do not want to use the web version of the software. This should not be a real advantage because all regulated and professional brokers do have software for trading which can be downloaded on their sites.

Many ways to deposit and cash out

There are truly a number of ways to deposit and cash out from this trading platform. This platform supports MasterCard, Visa, Neteller, Skrill, OkPay, WebMoney, Perfect Money and even Crypto currency payment. This is an advantage to those who would like to deposit in one of those ways as long as this platform is not going to scam them.

FX Trade Fair is unregulated

This broker is based in an offshore location and is associated with another unregulated broker. The company is clearly operating illegally because other than failing to seek to be regulated, they are providing binary options to residents of the EU countries and yet the financial regulator banned Binary options around July last year. This simply means that this company cannot legally provide this service to residents of the EU unless they figure out how to provide this service outside these jurisdictions.

Now, regulations are a must. If you are going to trade with a broker who is not regulated, you must prepare for the worst. Most of them are fraudulent which is why they cannot meet the conditions which are set by the financial regulators themselves. Think about it carefully and you will see that this broker is indeed playing games and possibly intending to involve themselves in some fraudulent activities.

Besides, there is an extremely high minimum deposit of $300. More professional and regulated brokers are accepting small deposits even $50 but this unreliable broker is only accepting a minimum of $300. We know that they are associated with a scam, and investing this much would be like putting ourselves in danger when wide awake.

Our best advice for you

You should stay away from a broker like FX Trade Fair because they are unregulated and the minimum deposit is pretty high. If you must trade, we advice that you use recommended brokers. Avoid off shore brokers who run a number of sister websites.

Summary
Review Date
Product Name
FX Trade Fair
Author Rating
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