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One unfortunate thing that binary option trading has come with is the number of scams masquerading as legit binary options software. Thousands of people have made and are still making good money from this trade but scammers are pushing away a good number of would-be investors due to their fraudulent activities. Add this to the out-of-this-world promises that newbies are bombarded with the moment they go to the search engines in search of binary option software and you have a fertile place to rip off people who do not know better. The danger is precipitated by the fact that there is very little international regulation in this fast growing industry. It is therefore important that you do your due diligence before depositing your hard-earned money with fly-by-night scammers.
What ZoomTrader is all about
To get to know what ZoomTrader is about, you need to know the following about the binary options broker:
- Created in 2020, ZoomTrader has been around for a long time in binary options trading terms. Domiciled in British Anguilla, this broker tries to make things look easy to traders, probably as a lure to hem in as many investors as possible.
- The trading platform on which ZoomTrader operates is the Tradologic platform. It offers a w > ZoomTrader Review was last modified: December 8th, 2020 by Michael Allen
How Binary Option Robot Can Change Your Life? Check This Out!
ZoomTrader Scam Investigation Read The Shocking Truth!! Don’t Invest Before You Read This Scams and Frauds Revealed.
How to Make Money with Binary Option Robot
Top Binary Option Robots in Russia
Claim your free binary option robot, get started with three easy steps:
- Name of Robot
- Min. Investment
- Min. Deposit
1. Your Binary Option Robot will analyse the market and decide, which asset (currencies, indices, commodities and stocks), is right to trade at that point in time.
2. The Binary Option Robot Will Predict the Price Movement
Your robot will assess a wide-range of factors, and then make a prediction on how the assets price will move, saying: Call (up) if it believes the price will rise and Put (down), if it believes the price will fall.Список русских брокеров:
Бонус за регистрацию 750$!
Быстрое открытие счета + 500 $ в подарок!
3. Decide on how much you want to Invest
Then you need to decide how much you want to invest in the commodity and when that investment will expire.
4. Collect your Earnings
Finally, you collect your earnings (the good part!)
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The Promotions at ZoomTrader
The main promotions with this software are in the bonuses. These bonuses are set at 50% for deposits of between $500 and $1999, a bonus of 75% for deposits between $2,000 and $4,999. A bonus of 100% for deposits that are between $5,000 and $19,999 is awarded. Traders can expect more extra opportunities to earn money with risk free trades. Provided are current market reviews and trading strategies.
While this is what it says in its website, independent reports on the veracity of these promises are yet to be received in numbers enough to generate a firm opinion on the same.
Trading accounts at ZoomTrader
There are four different accounts that you can trade from with ZoomTrader. The bonuses you receive and the benefits accruing will depend on the account you hold. These accounts are:
- Bronze Account: The minimum deposit here is $500 and a maximum of $1999. It attracts a bonus of 50% and the benefit of introductory videos.
- Silver Account: Deposits of $2000 to $4999 make up this account. Your bonus here is set at 75%. Apart from video courses, you will also receive 2 trading strategies, webinars and market reviews.
- Gold Account: This holds deposits of between $5000 and $19999 and attracts a bonus of 100%. Other benefits include introduction videos, 2 risk free trades, webinars, 3 trading strategies, high payouts, same day withdrawals and your own account manager.
- Platinum Account: This one caters for deposits in excess of $20000 and gives preferential treatment with all the benefits that the Gold Account offers and more.
Deposits and Withdrawals at ZoomTrader
With this software, depositing and withdrawing is not restricted to specific cards and wireless transfers. You can also deposit in your preferred currency. This raises the pool of traders who can join. It also raises the question of safety and security of privacy and of funds since it looks like anything goes here.
Minimum withdrawals are at $100 and you cannot withdraw unless your bonuses have all been traded. For the silver and bronze account, you will need to wait for at least three days as this is their waiting period. Same day withdrawals are only for Gold and Platinum accounts.
Trading with ZoomTrader seems risky if these red flags are to be considered before you make your first deposit:
- Customer support is terrible. There are complaints all over the internet about the poor communication methods the company has. It is probably due to the factthat all correspondence and customer queries seem to be in the hands of one person who goes by the name Jack Moore. This is red flag number one. You would think a large company like ZoomTrader would have more employees to handle customer complaints. This one seems like a lone ranger kind of outfit.
- Withdrawing delays have been the constant complaint about this software. There is no reason to delay traders withdrawals beyond what the account requirements stipulate. There are also complaints of traders who have been unable to access their accounts completely. You want to put your money here? Do so at your own risk.
- Bonuses are not optional here. They are lumped into your account whether you ask for one or not. The fact that you cannot withdraw with bonuses that are untraded, you will have to wait a while before your money is accessible because you will be forced to trade the bonuses before you can withdraw.
- Reports have surfaced of expiry times being extended arbitrarily. This is where you are trading a 60 second option and it does not expire till after more than 40 seconds after the time it was supposed to. By this time, the signal could have changed and you would have lost your money.
We cannot confirm whether ZoomTrader is trustworthy or not, so we recommend that you use binary option robot instead.
ZoomTrader is not a trustworthy software, no doubt about this. The red flags are serious enough to make you think again about giving these people an opportunity to get your hard earned money.
What you need to do
Your only reason for wanting to trade in binary options is to have a good return on your investment. It is for this reason that you should opt for a trading platform where you and your investment are treated with the deserved respect and worth. This software that does all this is the Binary Option Robot.
It is fully automated and the promised returns are not out-of-this-world; they are realistic and achievable as is the testament of so many traders, professionals and beginners who continue to enjoy the true benefits of binary options trading with Binary option Robot.
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In this ZoomTrader review, we created an account and examined the platform, support and account overviews. We found that Zoomtrader emphasises it’s user friendly system. This is advantageous for those individuals who are new to Binary Options trading.
Started in 2020, ZoomTrader is also regulated by CYsec which means that they are fully compliant with MIFID. This means that they are beholden to E.U. financial protection rules such as maintaining customer accounts in a separate account and having certain funds insured. Let’s dig into the review right now.
Website www.zoomtrader.com Minimum Deposit $250 Max Payout 83% Max Bonus 100% Support Features Live Chat, Phone, Contact Form and Email Free Demo Account No Deposit & Withdrawal Methods Wire Transfer, Credit Cards, Skrill, WebMoney Account Currencies EUR, USD, GBP Jurisdiction Cyprus Languages Available English, Spanish, German, French, Italian, Dutch, Japanese, Arabic, Portuguese, Russian, Swedish, Korean, Turkish, Chinese Option Types High / Low, Touch / No, Boundaries Option Expiry Times 60 seconds to End of Month Mobile Trading Android & iOS FXaxe Rating
ZoomTrader Trading Options
ZoomTrader has three different account options available to new clients. These offer a number of benefits including educational materials, trading signals and expedited withdrawal.
- Bronze. The Bronze ZoomTrader Account requires a minimum investment of at least $1,000. With this account, an investor will get access to 1 trading strategy, weekly market reviews and an introduction video course
- Silver. The silver account has everything that the bronze account has including daily market reviews and an advanced video course. You also are allowed an extra trading strategy. In order to get access to the silver account, you will need a minimum deposit of at east $5,000.
- Gold. With the Gold account, you are entitle to an additional 3 trading strategies as well as same day withdrawals, a dedicated account manager and a weekly one-on-one trading session. The Gold account requires a minimum deposit of at least $10,000.
- VIP Level. This is offered to investors who deposit over $50,000 and has one of the most bespoke trading experiences. We did however find that the depending on your trading activity, you may request VIP status from your account manager.
Depending on the account level, the trader may also elect to get the added benefit of a sign on bonus (up to 100%). It is of course advisable to examine the terms and conditions that are attached to these bonuses before you commit to receiving it.
Deposits and Withdrawals
ZoomTrader has a very secure trading and banking platform. It has full 128 bit SSL encryption. When it comes to depositing money into your account, you have a number of different options. They accept all major credit cards as well as Skrill, WebMoney and normal wire transfers.
Normal withdrawal times range from 1 to 2 days. When you have the Gold account, you are assured withdrawal within one day. What is important to note is that they require full identity verification until they will process the withdrawal (for security reasons). The minimum withdrawal amount is $200.
ZoomTrader Trading Platform
As mentioned, ZoomTrader has places an emphasis on running a simple and user friendly trading platform. This does not, however, take away from some of the more advanced options available to skilled investors who are familiar with binary options. The technology provider behind the platform is Tradologic.
In terms of layout, an the user can choose between multiple views, single view or a simple “classic” view. This will allow the investor to best customise the platform to their own preferences.
When it comes to trading particular assets on the platform, one can trade a number of different commodities, single stocks, indices and of course FX. When trading these assets, the types of options available are similarly numerous. These include standard High / Low options, Boundary options and one touch options. There is also quite a bit of choice when it comes to expiry times. An investor can choose options that expire anywhere from 60 seconds to end of month. This means that a trader can hone his strategy whether he uses technical of fundamental analysis. They also have the helpful feature of being able to extend or close out a trade depending on how you view the trade going forward.
If you would like to monitor your trades away from your PC, ZoomTrader also has a mobile trading platform. This application is compatible with iOS and Android devices.
When we tested the customer service at ZoomTrader, we were quite impressed with their responsiveness. When we had any questions about the platform, we reached out to their support representative on live chat. We were dealt with almost immediately.
Investors could also reach out to their team via email or a number of international phone numbers. Given the global operations of ZoomTrader, they also offer support in a number of different languages including most European languages as well as Arabic, Japanese and Chinese.
After testing the ZoomTrader platform and customer service, we are quite impressed with the overall package. We found that the user friendly layout together with the large array of educational material provided for an ideal experience for new traders.
We also found that the minimum trade size of only $10 allowed new investors to adequately dip their toes and build up their Skillset before embarking on larger trades.
One of the drawbacks of ZoomTrader is that it is not available to US investors. If you were interested in a list of our US approved brokers, we have an extensive list.
Given our positive experience and the regulatory oversight, we feel comfortable recommending ZoomTrader.
- Do not ever trade with this broker
Broker Zoomtrader has never been one of my favourite brokers. This is because of its poor image based on what I have heard from other traders. To see how much this is true we have made a hard test and this review will explain everything. First of all, Zoomtrader has received numerous penalties from relevant authorities. The CSOB report 2020 says that the company was prohibited to take on new traders from the Czech Republic, which the broker continues to do. All what they did was deleting Czech from among the languages and that’s it.
In early 2020 Zoomtrader received penalty from CySEC worth $15.000 for offering binary options trading to Europeans without having a valid license. All brokers based in Cyprus are subject to regulation i.e. are supposed to play fair. But “playing fair” is obviously something these guys dislike. What they like is to cheat and steal money from people. To make it possible they have moved their offices to the Caribbean, where they do not need any CySEC regulations.
Zoomtrader CySEC, CNB and further regulations
A false registration with CNB
Despite exhibiting lists containing various regulatory authorities (source) at Zoomtrader’s web site, it’s all only pretension. In reality, neither Zoomtrader nor their partner firm Zoompartners Ltd. is subject to any of the regulations.
Click on the item displayed next to the Czech national flag and you will get to the web site (picture on the right-hand side). Nice words in the documents about regulation vastly differ from the reality. The trick is in the fact that the regulated entity is not Zoomtrader, but a company whose name is Novox Capital Ltd.
After a small research and surfing over the internet, we found out that this company has nothing to do with zoomtrader. It only provides brokers of OptionBIT and OptionXP, similarly infamous for their dishonest practices.
Zoomtrader’s fraud penalised
Last year this scam broker was fined by CySEC $15.000 because of not being licensed by this regulator.
According to the legislature, binary options trading is only allowed to brokers licensed by CySEC. Zoompartners Ltd. got out of the mess with minimum impact (…given that the top limit for such violation is twenty times bigger i.e. $350.000).
Since its foundation in 2020 the company has received an incalculable number of penalties, (…literarily incalculable so I cannot tell you any figure).
Experience with this broker
Since the early stages of my experience with binary options the only positive feedback about this broker I have ever heard came from a young lady swearing that she was making thousands of CZK with Zoomtrader.
This is extremely suspicious and it rather looks like a fake. It’s because the lady shortly after that published her zoomtrader sponsor code used for being paid by zoomtrader. Therefore we believe that she was one of the Marketing employees publishing her testimonial at the time of attracting Czech clients.
It is not a rare phenomenon on the internet to see an article or comment which describes a story of brokers suspending or totally stopping refunds to traders. Practices such as 60 second options expiring after 100 seconds, nearly a double, or manipulation with prices upon expiry are nothing exceptional, either.
Another unfair practice of Zoomtrader is the behaviour toward clients who deposit their money. Saying this, we mean the adding of unwanted bonuses. Mainly because, the client is forced to trade a certain amount before allowed to withdraw it. The majority of these amounts is exorbitant.
Exorbitant fees were behind CySEC decision in early 2020 to impose a ban on brokers to offer any bonuses. Automatic assignment of bonuses was qualified as unacceptable. Yet, our broker does not care and escapes unhurt.
Your experience with Zoomtrader
Have you ever made trades with Zoomtrader? What is your experience? Do not hesitate to write us in section Comments so that we all can see what this broker is like. Thank you!
- Do not ever trade with this broker
Zoomtrader — Review author
More about the author Step
I’ve wanted to build a business of some kind and earn money since I was in middle school. I wasn’t very successful though until my senior year in highschool, when I finally started to think about doing online business. Nowadays I profitably trade binary options full-time and thus gladly share my experiences with you. More posts by this author
✅ Broker Zoomtrader ✅ Website URL www.zoomtrader.com ✅ Languages English ✅ Minimum 1st Deposit $ 200 ✅ Free Demo Account ✅ US Traders Allowed ✅ Overall Score We don’t recommend trading with this broker.
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12 Responses to “Zoomtrader”
I lost a lot of money to GTOptions and 2 other ICO scams then I tried hiring a lawyer but ended up losing even more money. Anyway, I was able to recover my funds using other means. I do hope my experience will give folks more insight into getting their funds back.
Hello, you should really be aware of these scams. We recommend you to read our articles about binary options scams. So you are not gonna lose your money again.
this is an company with very big cheaters.
don’t work with them. you will loose your money
Hello, this company doesn’t have a good reputation and many people get scammed by them, that’s right.
not spoke to them but binary robot 365, binary crypto robot, trade invest 90 are all scammers, the credit crd processors celtic pay ltd and hithcliff and ilegally claiming to process creditcard payments, they are both owned by bulgarians and although have registered office in the uk they have no office or person in the uk so they are fake too. roger stuart poppleton was a director of hithcliff ltd but he is also a scammer an has been a director of over 300 companies, investigated by the insolvency service and all by the police at the moment
zoomtrader scammed me out of 15000 euros of my own money 15000 proffitt. when i told them i couldn’t invest any more, they asked me to get a loan of 25,000, when i told them icouldn’t get it even though i didn’t try, they called me on the Monday and gave me a trade of 5000 units of ltc/usd which when clicked buy went to minus 30,000 euros they disconnected the all and crashed the websire. When it came back i had lost all but 1400 euros, i looked at time of open an close of trade and they were exactly the same, what real broker gives you a trade like that? they new my balance and new 5000 units would equal total of all my money. I got no e-mail answer when realised i had been scammed only phone calls claiming it wasn’t a scam, i am not stupid they tried to get me only to lose the last 1400 euros, kept phoneing, they scammed me as i told them i had mental health issues, binary robot 365 connected me to zoomtrader and they are scammers too according to UK FCA regulator. be warned
Thanks for your Review Mark.. Did you try contacting the binary options fraud refund company?
yes, this is correct and true
I put my money into BinaryRobot365 and they passed my details to Zoomtrader, so i wouldnt trust any of them.
They are all a scam, keep your money in the bank, its the safest place!
WARNING: THE BITCOINCODE AND ZOOMTRADER ARE FRAUDULOUS WEBSITES!
(thebitcoincode.com, thebitcoincode.com/app and zoomtrader.com)
My bad experience with Thebitcoincode / Zoomtrader and this hidden SCAM:
After registration with Bitcoin Code and payment of an initial capital as requested to
their Cashier Zoomtrader England one has to select between “autotrading” and “manual trading”.
I selected “manual trading”. Then Bitcoin Code switched automatically to Zoomtrader as their
Broker (same software!).
Then a person called me in Skype as “Trading-Consultant” of Zoomtrader. He started immediately
the first 5 tradings with me. Not mentioning anything about their “Bonus”-TRAP as per their
Rules and Regulations.
With the first trading one is accepting automatically (TRAP!) the Rules and Conditions of Zoomtrader, especially paragraphs 2., 18., 19., 21. and 43.
Paragraph 2: By creating an account and using Zoomtrader’s website you automatically are accepting their Terms&Conditions!
Zoomtrader is applying at their sole discretion a Bonus of the same amount as you paid
as additional working capital, without informing you.
According to the paragraph 19. “Withdrawal Conditions”, contained in the Terms and Conditions,
the next BIG TRAP appears:
“If you have received a bonus in your account you are required to execute a minimum trading volume of 40 times for every €/$1 bonus in order to withdraw your funds.”
Without the „Trading Consultant“ you never will succeed to reach this goal (!) because already
on half-way or less the „trading capital“ will come to zero and you cannot continue trading!
Then latest you realize: YOUR MONEY IS LOST!
The first „Trading-Consultant“ executed a few successful tradings with me within a limited time of abt. 5 minutes only, mentioning that his time is very precious having other big business going on. He said: „Only if you will pay to Zoomtrader bigger funds I will do with you the „real big business“ where every party can earn. I must earn money for my career. Otherwise I will stop trading with you“. He did it.
Then another „Consultant“ in Zoomtrader called me. He made 1 trade with me and thereafter he started the same game with me: asking for more „capital“ money to pay for the „real big business“ because he, too, has to earn money. Otherwise he would stop trading with me. He did it and said that he will return the trading with me to the first Consultant. To both of them I confirmed many times that I do not have more money to pay to Zoomtrader.
Bitcoin Code and their Broker Zoomtrader (same software!) are promising in their Websites that one will earn money by signing in and investing some money as trading capital.
The relationship between Zoomtrader and their „Consultants, dealing with the client, is unknown
and of no concern to the client, naturally.
Without assistance by the Zomtrader Consultant, trading alone as beginner you have no chance ever to reach the 40 times trading volume because even not yet on half way your „working capital „
will be gone and nothing left to continue trading!
If you paid 3.000$ to Zoomtrader they will add 3.000$ as Bonus. Your trading capital then will be
6.000$. The „Consultant“ uses max. 10% per day = 600$. 5 times per week are 3.000$, per month
12.000$. It would take 10 months to reach the requested Bonus transactions of 120.000$ .
Time enough for the „Consultant“ to request again and again from you more money for the „real
big business“ otherwise he will stop to work with you,
By their adding a FRAUDULOUS Bonus behind each payment the CHEATING will continue.
Bitcoincode and the Consultants of Zoomtrader are promising in their websites: „Your money is safe with us and you always can claim it back“. This is a BIG LIE!
In paragraph 43. of the Terms and Conditions, for withdrawal a „Form“ must be filled out.
In the lower half, however, is marked: *Funds for withdrawal are subject to the Bonus Terms&Conditions“. TRAP again!
WARNING: THE BITCOINCODE AND ZOOMTRADER ARE FRAUDULOUS WEBSITES!
Do not invest any money with this company they are a a
Scam you will only loose your money i put £500 into there account did not invest in any currentcy when i got no help from them i wanted to with draw my funds i cannot get them to put it back in my account .do not invest in themОткройте счет и получите бонус:
Бонус за регистрацию 750$!
Быстрое открытие счета + 500 $ в подарок!