Global Trader 365 Scam
Updated Nov. 2013
I recently received a message from someone asking if “Global Trader 365 is a Scam”. In a previous article I have indicated that Binary Options is a relatively new industry which has just recently began the process of regulation. The CySEC license which was acquired by Binary Options platform SpotOption has opened the door for the regulation of Binary Options brokers throughout Europe. In fact Banc De Binary has received the first individual broker license for Binary Options trading from CySEC and is thus EU regulated. It won’t be long before most brokers gain EU regulation. Banc De Binary also claims that they are negotiating with the CFTC to secure a trading license in the US as well.
Is Global Trader 365 a Scam?
Until most or all Binary Options brokers become regulated by at least one regulatory body there is no objective way to guarantee the the veracity of a particular broker. The most common method is through internet searches, which can give you an idea, but is not a sure source of information. The brokers that we review on our site are based on actual testing of the site and by trying to speak to as many people in the companies as possible. As I have said previously I haven’t found any broker to be an actual scam. There may be issues with how long it takes to make withdrawals and issues regarding bonus conditions, but understand most brokers are white labels of several large platform developers. In the case of GlobalTrader365, for example they run their platform off SpotOption. SpotOption is a massive binary options platform developer as well as a CySEC regulated market maker. If a company like GlobalTrader365 was a scam they would suffer first off from bad word of mouth which would be devastating for a business operating in such a completive environment, but even more significantly the parent company, SpotOption, would have little tolerance for malfeasance on the part of one of its brokers.
GlobalTrader365 Scam Update
We have recently received several complaints from customers about their experiences with GlobalTrader 365. The issues relate mainly to problems in securing withdrawals. Based on our investigation GlobalTrader is in contact with the traders and they are in the process of trying to come to a resolution.
If anyone has issues or complaints against GlobalTrader365 or any brokers that we have reviewed please don’t hesitate to Contact Us.