Is TitanTrade a Scam?
SummaryAfter a detailed research we cannot confirm that this broker is safe. We recommend you to Proceed to Safety with Trusted & Approved Binary Options Broker. Alternatively you can Skip the content and See the Conclusion.
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TitanTrade started working in the year 2010. Their areas of expertise are finance field and market, and they have established themselves in binary options trade as well. Titan Trade offer quick as well as long term investment plans to the customers. “SpotOption“is used as platform for trading which is fully web oriented and does not involve software installed on the user PC. TitanTrade also vows to educate like many other broker exclusively.
They offer five conventional types of accounts with minimum initial balance requirement of $250. Everything about TitanTrade is perfect apparently. There seems a unwanted liberty of investment according to their own will at any time from user’s accounts, which, a user would not like certainly.
Titan Trade provides their address of Seychelles but there is no registration or license number provided by them. It gives a discouraging impression when we come to know ever increasing number of complaints. On the other hand a non registered company is more affected by these negative scoring indicators. ”Their Auto bots” are responsible for most of the complaints along with sudden disappearance of their website.
User feel scammed when he often feels unable to login in their accounts. Difficulty in withdrawal is a technical issue that can be improved. Inability to withdraw money is the real concern of traders working with TitanTrade.
It is mandatory to provide identification documents like scanned ID or passport, utility bills and visa/ATM/Debit/Master cards for the first withdrawal. Amount can be withdrawn by using debit/credit cards and “wire transfer” if minimum amount of 100 is present in selected country. Transfer of money for account for account opening is not practiced by most of other brokers unlike Titan Trade. Contradictory to their slogan of no charges on withdrawal, their terms and condition section clearly mentions that user has to bear USD30 for each transaction made. This kind of thing makes new trader reluctant towards a broker and existing traders are rightly found complaining against this contradiction.
TitanTrade comes with many exciting perks for traders. Various applications help user understanding market, market analysis, predictability and report. New customers to experienced levels can download from TitanTrade official website as well as from google play store on Android smart phone as well. Smart kit app indicates updated trade trends every hour.
Trading app is designed for Android phones for the convenience of traders who can trade now while traveling or staying away from computers. Trading app is not suitable to any other operating system. These apps help traders in trade though with few complaints of login problems or connectivity.
TitanTrade Minimum Deposit
Minimum deposit required by TitanTrade is $250 but if a trader wants to deposit funds through wire transfer, at least $500 are required to complete the transaction. Micro/test accounts thus need $500 minimum initial deposit.
For classic account $1000, for Premium account $2500, for platinum account $5000 and for VIP trading account $10,000 are required minimum. This makes TitanTrade brokers operating with relatively high initial deposits making brokerage a little expensive compared to other brokers trading in binary option market. Despite of all the perks provided, new users may find themselves hesitant to risk such higher amounts when starting trade for the first time.
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