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  1. #1
    Veteran Member randy1953's Avatar

    Teach them to Fish? !!!

    There is a old story goes like this "give them some fish they will eat for the day" " Teach them to Fish they will eat forever"
    However you still need a Ocean to fish from! I'm a US trader have a difficult time finding a US broker.

    Here's the rundown on what has happen in the last 2 days with the following brokers.

    1. Cherry Trade- Be careful with this one when I first called them they told me I had to open a account before talking to a account manager. No problem this is pretty much the same as other brokers however once I opened a account and gave my phone number I got a call back from a different number with Cherry trade. I got this woman who now tells me that before they will talk about risk free trades, bonus etc I first must fund my account and only then with a broker talk to me. Well I got pissed and for good reason this is not how things are done. I told her this is like scamming folks and I have a very active blog site and this info going straight on it. Well before I could say all that she immediately connected me with a Alec Crosby a floor manager. He said forget everything that woman said you never need to talk to her again now you have me how can I help you. Well I got to the point with Alec that on a $500 deposit they would give me 5 risk free trades at $50 a trade. But now he asks me what do I trade. I told him the truth I only trade 60 seconds and I have over a 70% success rate all true. Well Alec come back and tells me look I like you(first red flag) he tells me they have a 60 second strategy that will beat my 70% any day of the week and if I deposit $1k he will show me. He actually guaranteed it saying if I put $1k in and it does not work then the $500 on top of my $500 will be risk free. You see what's happening here it's a scam I think.

    2. EmpireOptions Well I signed up as a client it's true they have taken off US as one of the countries to register with but I used US islands. I talked to s Federico
    He sent me this:

    Dear Randolph,
    I am sending to your convenience a step by step guide to activate your account yourself, and become one of our successful traders in EmpireOption.
    By the way I'm leaving here recorded what we talked on the phone:
    DEPOSIT 500USD and get 5 risk-free trades of 50USD (with 10 times turnover requirement instead of 30)
    Once your account is set up, you will receive the information necessary to start trading successfully.
    Please there are lots of negative comments under the Empire Option review on this site. Does nayone currently trade with Empire here and if you do what are your results? Appreciate the feedback

    3. Tradprax These folks seemed most professional to me. I talked to a David Kuhn. He told me at first that I could only get a 100% bonus on a $500 account at 30 times turnovwer. I was all set to go with these guys. My only concerned was the platform they are using. It is suppose to be better than SpotOption it has a real click thru for your trades vs Spotoption has that 3 second window that comes up to approve or cancel. anyhow I was going to go with them yesterday but just as I was going to sign up their credit card processing went down. they had a breach in the system so they are adding more security as we speak. Please help me here folks has anyone used Tradorax platoform here. Can anyone say how it compared with SpotOption. I'm a bit concerned as I got Spotoption down flat now and doing well I hope their platform works out just as well. So feedback here is much appreciated.

    4. CToptions Talked to a George West He will not bend a bit on this 5%Max trade on a $500 account. He says they really care about their clients and don't want them to loose their whole accounts but if I put in $4k then I can loose at my will? He says

    "You may do as you wish as it is a free world.
    The 5% is written in the T&C and most clients are satisfied .
    Sad you don't believe that finally you have a company that has no interest and works as an STP company.
    Most of the team here came from the forex market and acted then and now as an ECN company.
    We like sleeping well at night.
    From start I said that maybe we as a company will not suit your type of trading and its your choice to invest or not to invest with us, no body forced you, you came to us, and got all the answers so in the future there will be no surprises , we didn't call everyone on the yellow pages and find you and force you to invest

    Sorry for the length of this but thought it had some value to other US traders looking for a good broker.


  2. #2
    Moderator Kolyo's Avatar
    Nice explanation and I hope it will be really helpful to other traders too Thanks Randy!
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  3. #3
    Legendry Member Michael Hodges's Avatar
    Randy, you are preaching my sermon! good job! Teach a man to trade he'll be eating caviar eventually...

    I use Empire, I got in a long time ago, I like them but I keep the account small... lots of small trades, small wins and small withdrawals... avoid the bonuses, but I'm looking at others and I also trade on NADEX.

  4. #4
    Veteran Member randy1953's Avatar
    thanks Michael well maybe it's Empire then. what do you consider small withdraws you can pm me if you wish.
    Right now I'm with Bloombex options didn't know anything about Binary options I got in on a whim. But now I devolped a pretty successful short term trading system. I would like to withdraw maybe $1k every 2 weeks you think empire would be ok with that?
    thanks again nice to be here
    Oh how do you like Naydex they don't have 60 seconds but do have 2 mins maybe I can modifly a bit for them.

  5. #5
    Administrator Martin Kay's Avatar
    Quite a research Randy! Pretty much exactly as I thought. CherryTrade doesn't seem to me like a broker for the long run. Empire, they have their advantages, they're also spot, they pay, and most of the comments you'll see are written long long time ago. As for CT, I understand their position. We had a big discussion here regarding CT's 5% rule, there was a user trashing them all over forum for that rule. I wrote about the 5% rule at the very first or second paragraph of my review. I spoke to one of their higher officials, told him about the 5% being a stupid rule, but that's how they want it. In any case, they're a fair broker. As for Tradorax, they are young and promising. They probably have some processing issues, happens to many brokers. They're good people, but I would go with Empire or CT.

    In any case, many thanks for your post. Looking forward to your future updates!
    “Don't believe anything you read on the net. Except this. Well, including this, I suppose.” ― Douglas Adams

  6. #6
    Veteran Member randy1953's Avatar
    Oh well I went with Tradorax Martin. what do you mean processing issues. I went with them because I wanted to try their straight click through with their platform. they seemed very legit to me. I hope I did not make a mistake?

  7. #7
    Administrator Martin Kay's Avatar
    Quote Originally Posted by randy1953 View Post
    Oh well I went with Tradorax Martin. what do you mean processing issues. I went with them because I wanted to try their straight click through with their platform. they seemed very legit to me. I hope I did not make a mistake?
    I was trying to guess the reason your first deposit didn't came through at first. looking at your other thread I see you did manage to deposit, so nothing to worry about
    “Don't believe anything you read on the net. Except this. Well, including this, I suppose.” ― Douglas Adams

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