Is OneTwoTrade a Scam?
We have made a research of One Two Trade and found out that they do not rate highly and there is no significant data about them. As an alternative we have selected our Top Safe Forex Brokers along with detailed reviews for safe and secure trading.
Since we haven’t gathered enough information yet, we cannot confirm that One Two Trade is safe. You can Proceed to Safety OR Choose one of the Is-Scam approved and safe Forex Brokers:
One Two Trade is a Forex broker founded in 2011 and it is owned by Up&Down Marketing Limited, located in Malta. They are licensed by LGA (Lotteries and Gaming Authority) and since it is regulated in Malta.
OneTwoTrade has been running on the new SpotOption platform and has some innovative trading features including colored screen views and different charts. This broker has its own trading robot called Botomatics.
According to the promotion the bonus funds are different. The trader cannot withdraw the bonus amount unless the turn over of 20x the bonus is accomplished. This can lead to losses and all of the produced earnings could be cancelled. We recommend traders to refuse bonus funds unless they have understood the requirements in the terms and conditions of the broker.
For account withdrawals around 200 pounds or more there are no charges, but any credit card withdrawal less than this amount is 39 pounds, with an extra 30 pounds fee for bank transfers. These fees are not unreasonable, but they could be seen as a disadvantage of trading Forex with OneTwoTrade as compared to other brokers who offer 1 free monthly withdrawal.
We are quite unsure about OneTwoTrade, therefore we cannot say whether it is safe to trade with it or not.
OneTwoTrade does not give a financial investment product, and is not regulated by the Financial Services Authority, to enclose their own words. This is declared at the bottom of their website so, if they do not provide the traders with a financial investment product, we recommend to find another broker that does.
While reviewing One Two Trade, we saw that they are using the SpotOption platform. They offer options like 60 second, long-term, ladder and pairs. The SpotOption platform is a Forex trading platform, and traders have different signal providers to select from that can integrate with the system. It only offers the classic Up-Down. The charts are not streamlined and this makes the analysis complicated.
Their trading platform is accessible in different languages such as French, Italian, French, German, Portuguese. As their website is available in different languages, customer service is only provided in English.
Among the usual things that Forex traders are able to notice when accessing the OneTwoTrade website is their clearness. The trade setup, asset details, chart data are satisfactory but there are a lot of similar free resources.
You should keep in mind that there is no evidence of an authority or publication ranking that the broker is really awarded as #1 as they claim on the website.
When searching on the internet for unsatisfied customers, we found some user complaints and negative reviews about One Two Trade. Our investigation team was surprised by the fact that there were complaints even from employees of the broker. At this point, we suggest you use caution and do more investigation about this broker before opening an account.
ConclusionAfter detailed investigation our team concluded that there are better choices than One Two Trade. We cannot confirm that this Forex broker is a scam, but our research revealed enough traders’ complaints to not make us feel safe trading with One Two Trade.
We recommend you to Proceed to Safety and avoid scams by choosing High-Rated and Trusted Brokers on Is-Scam.com.