Grand Trade Review Is Grand-Trade.net Legit Or Scam

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Grand Trade Review: Is Grand-Trade.net Legit Or Scam?

Grand Trade Review: Grand Trade is a binary options broker. This broker claims to be located in the United Kingdom, London. There is no address information by this broker nor by the company that owns it, Oracle Stone Ltd.

However, on an internet search, we found that, Oracle Stone (Grand Trade) Ltd. is among the companies the International Financial Services Commission (IFSC) warns against.

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This broker does all it can to entice traders. It offers welcome bonuses of up to 100% the deposit and can amount to $50,000. Grand Trade claims to have at its disposal, 100 trading products.

Grand Trade Trading Platform

The trading platform offered by Grand Trade seems to be a web-based one. This is discouraging as traders prefer MT4 or MT5. It is claimed that the platform can work on many common devices operating systems.

There are three accounts offered by this broker and minimum deposits differ ranging from $250 to $2,000. A Demo account can be used to test this service. Trades can be conducted on products such as currency pairs, cryptocurrencies, precious metals and many more.

Also, Grand Trade claims a payout percentage of 85% which is almost too good to be true. Binary options trading is still a very unstable investment and this kind of payout percentage is rare to obtain.

Deposit And Withdrawal Methods On Grand Trade

Deposits and withdrawals can be made via the standard Visa, MasterCard and Wire Transfer. Grand Trade further claims to provide 100 methods of payment including: Neteller, EPay, Skrill, UnionPay, FasaPay, WebMoney and many other electronic methods.

Withdrawals are however not free on Grand Trade. There is a 3% fee charge on accounts for every withdrawal and it can take up to 14 working days for it to be completed.

If an account stays dormant with no trading activity in 12 months, a maintenance fee of $25 is charged.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

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Is Grand Trade Licensed?

No. Grande Trade is not a licensed binary options broker. Though it is rare for binary options brokers to hold licenses, this particular broker is in a bigger trouble.

As was stated in the opening, its parent company Oracle Stone Ltd. is blacklisted by the IFSC. Traders would do well to heed this warning and stay away.

Support

The only means of reaching a customer care representative is by opening the link for a live chat.

Conclusion

Grand Trade presents information professionally and offers many tempting trading products. The payout percentage is also a strong argument. But, since it has been blacklisted by an authority as high as the IFSC, it will be wise not to invest in it.

COMPARE WITH A TRUSTED BROKER

Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

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Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Best Choice For Beginners and Middle-Leveled Traders!
    Free Demo Account!
    Free Trading Education!
    Big Sign-Up Bonus!

  • Binomo
    Binomo

    Trustful Broker. Recommended Only For Experienced Traders!

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