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RedoxTrade Review: Redoxtrade.com Binary Scam Shown

RedoxTrade Review: Redoxtrade.com Binary Scam Shown

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RedoxTrade (Redoxtrade.com) is a Binary Options online scam which is a menace to the online trading community. Redox Trade is claiming to provide the best binary trading platform the market has to offer. With mix reactions from leading regulatory bodies, the platform is designated to fool unsuspecting investors. Most of the members who had deposited are now crying foul. Read this genuine and honest REDOXTRADE Review and get the truth.

RedoxTrade Review

RedoxTrade Review

Once you visit their homepage, you will be fooled to think that this is a genuine platform. These scam artists are using information from real binary trading option signal providers. The scam artists are hoping to entice investor to sign up without taking a second look. With any online investment trading platform, it is best to check what other experts are saying. Reading reviews will help you know what to expect with a certain platform. Since the complaints are many, we had to expose their dirty linen in public.

RedoxTrade is professing to be a company with professional attributes when it comes to binary options trading. The platforms claims to have over a thousand trades completed which is a roost to entice investors. To be clear, the United States has banned the trade of Binary options in that region. Binary options are however carried out in other countries in Europe and the rest of the world. And this brings out to the first red flag we spotted in regards to the company behind this platform.

How does the scam work?

After opening an account, these scam artists will call you and give you an account manager. The account manager will be responsible for your account and trades. After a while, they will bombard you with calls urging you to deposit more funds. You will not be able to withdraw funds as they give excuses as to why withdrawal is not possible. An excuse they use quiet often is that your bank is refusing to accept funds from their system. And this is a plot to steal your money and shut down your account if you persist to ask for your funds.

About RedoxTrade

When you land on their about us page, you will realize that the platform is missing some vital details. No information is relayed as to who the actual owners of the platform are. We expected to see the names of the founding members on their about us page. What we see is a platform which bombards investors with misinformation regarding the actual ownership details. At the top right hand side of the platform, they claim RedoxTrade is located in East Greenway Park Arizona. Brokers in that region claim there’s no such platform in existence in or around Arizona.

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Account details

RedoxTrade Account Details

Redox Trade is furnishing members with four different account types to choose from. Accounts listed include Starter, Basic, Pro, and Executive. Our main concern with the accounts is the high minimum trading requirement set. The starter account demands users to deposit $500 before trading commences. Investors should know that the industry has set $250 as the acceptable minimum required deposit. The bonus mentioned are a trap to ensure investors deposit more funds in the hopes of getting higher bonuses.

Customer support

Another baffling feature with RedoxTrade is lack of a clear communication protocol. You would expect the platform to offer live chat support which aids bring faster communication. They post a US number which is ever busy and never going through. The email address listed is slow and response takes more than two weeks. To get a faster response, you have to act as a new client who wants to open an account. These scam artists will reply within no time. Members who sent withdrawal requests via email are finding their accounts blocked. Apparently, sending a withdrawal request via email is proof you want out.

Domain Insight

Looking at the trusted domain register whois.net, a couple of shocking facts emerge. RedoxTrade has been stealing from members for a while now. The website was created on 16th April 2018 and registered on 6th May 2019. They took a whole year to fully register their website which is proof of their unruly nature. These are pure scam artists who don’t have a clue about binary options trading. You are better off with a proven and trusted broker who has a strong online reputation.

False claims

When it comes to using false claims, RedoxTrade is good at it. You can see that they claim to have over 69, 665 happy users. We checked with various trading chat rooms and the entire community has never heard of this platform. No user has come out with proof of making profit with this sleazy binary options trading. And this is why we must stay away from it and never look back. The use of visual messaging board is aimed at unsuspecting investors. Newbie investors will not bother checking the statistics, they blindly just sign up.

License and certificates RedoxTrade

RedoxTrade License and Certificates

Now this is where matters get dicey with Redox Trade. The American regulatory institution has blacklisted this platform and termed it a scam. The Commodities Futures and Trading Commission (CFTC) issued an alert on this platform. Another disturbing feature with the platform is lack of any license or registration number. You would expect the platform to have a clear license number posted on their homepage for all to see. No copies of their license are also present which is proof we are dealing with a binary scam.

Returns promised

They claim to provide a high payout of 81 percent on binary options contracts. These are pure lies which are aimed at driving investors to their platform. With no proven cases of users gaining this match, RedoxTrade remains a sketchy trading platform. No one should give them the money or time. Redox Trade is simply trying to open as many accounts and later shut down. With a warning already issued, we don’t expect the platform to hang around for long. They are planning to shut down and never compensate users.

Trading platform

Redox Trade is claiming to have a 100 percent web-based trading platform. The problem with their web based platform is lack of proper testing by trading professionals. They are using a custom-made platform which is not to be trusted. With a custom made platform, stability is an issue due to lack of proper security features. Your funds are not safe as you will open yourself up to third party attacks. Lack of proper security features with their trading platform is reason enough to stay away. An alternative is to use accurate binary options signal providers wit a proven record

Safety of funds with RedoxTrade

As we clearly put out, funds are not safe with RedoxTrade. Without proper security features, hackers can easily take over this platform. Ensure you never sign up with any platform which does not segregate accounts. It seems RedoxTrade is pooling funds in one account which is against trading regulations. Members of this platform are actually depositing funds to the owner’s bank account.

Scam or legit

About RedoxTrade

With clear evidence and a warning from a trusted regulatory body, RedoxTrade is a binary scam. These account managers have no trading experience. RedoxTrade is a platform which has been blacklisted by American authorities, you too should stay away.

Bottom line

We have to add this platform to our red alert list to protect our readers and unsuspecting investors. Stay away and never indulge in any of their affiliate programs. Warn your family and friends from signing up with any of their affiliate programs. These are professional scam artists whose main aim is to gain access to your bank account. Never share your credit card details with any of their account managers.

Wishing all investors a happy and prosperous trading experience.

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