Website URL: https://elitetradeoption.com/
Deposit Methods: Bank wire transfer, credit and debit cards, e-wallets
Minimum Deposit: $500
Free Demo Account: no
Types of Assets: CFDs, stocks, Forex, cryptocurrencies
Discovering a safe and trusting space for your trading needs today can be a challenge. There are so many things to consider when it comes to not only asset selection, but also the safety and security of your data and money. This is a tricky thing to take care of, considering that there are so many broker companies offering you this or that, including guarantees about your portfolio and profits. Let’s get this one thing out of the way right off the bat – there is no such thing as guarantees in life, and especially in trading. That is the basis of its appeal – things are so unpredictable which makes this industry so unique and attractive to so many clients worldwide. So, to claim that your profits are guaranteed is a flat-out lie – and not a good look for companies who do so.
Elite Trade Option is one of them. Our disappointment with this company is immense for many reasons, mainly because it is clearly here just to scam its clients. We are not sure its team gets away with it, and we are hoping something will change soon regarding this. This is why we created this Elite Trade Option review – so you can make an informed and smart decision about your trading future. Is this company worthy of your time, not to mention your resources and money? Let’s find out.
Elite Trade Option’s website claims that the company is based in San Diego, California. Considering that the US is one of the toughest markets to make it because of harsh regulatory requirements, it is astonishing to us that this company is not regulated at all. That’s right! It is operating without a license, which is a huge liability and a red flag for all the clients.
The thing about the lack of license at any company basically means that you will be left on your own when dealing with the company. It is impossible to reach out for protection to any regulatory body that would make sure your rights are honored by the broker company in question. And since Elite Trade Option does not own a license, you can forget about this entirely. Keep this in mind when choosing to trade with this company or simply ask yourself – am I ready to take on this kind of risk?
When it comes to the Elite Trade Option trading platform, there isn’t much information to learn about it. The thing is, you don’t have the access to the platform at all unless you sign up for an account first. This is really shady on their part, and we don’t think there are a lot of clients who will decide to do business with them this way. The only way to learn at least about the platform design is the home page, but it only shows you the general idea – not the real-time performance of any of the assets.
Speaking of the company’s tradeable assets, we weren’t able to find out exactly what they are. There is only a hint of several currency pairs and a lot of crypto assets. They are becoming pretty popular, but if you are not keen on trading them, you will not find a lot of other options instead.
As a result, we cannot even tell you what kind of trading platform type this company offers. It is a Meta Trader with customized solutions or a standard web-based one? We are not sure how to answer this question without any solid information available. There is also no mention of things such as if the platform is downloadable or not, and what are the basic trading requirements such as the leverage, the margin, or other important data to note before deciding to start trading.
The account types at this company are called Plans. There is nothing much we could say about them, in all honestly. The account types should be explained pretty clearly and accurately. After all, they are the tools that the clients will use the most when trading. With each step they take, these account packages and plans should be able to fit their trading plans and budgets. So it is crucial to learn as much about them as possible. So far by what we were able to gather, there is only a single plan which you can sign up for, simply named Gold. With the Gold plan, you will need to deposit at least $500 to get you started. And that’s about all we can tell you about it. There is also a promise of a 200% return on investment (ROI). But we cannot tell you what the conditions are surrounding this, exactly.
There is simply no indication about the requirements or the benefits that this plan offers. You can’t even tell if there is any educational material available. What are the basic requirements to fulfill when you start trading on this platform? This probably means that the company is not able to offer that much to its clients. Instead, it is just trying to hide this fact and prolong the struggle for the users.
The educational section of this company is not neatly organized. Rather, different materials and tools are scattered all over the place, such as the New Headline section. It contains, as the name would suggest, some news about the market and its latest events and changes. However, this news isn’t even regularly updated, which takes away the entire point of having this section available. Also, the information is a bit conflicting because, on one hand, the source for the news is Cointelegraph. But on the other hand, there is a lot of grammatical errors in the news. So, we aren’t exactly sure what is happening here.
Aside from this section, you can also find some testimonials made by former and current clients. They seem really forced and professionally made, so we cannot guarantee their authenticity. It seems that Elite Trade Option will always rather fake a story than tell you the truth.
Deposits and Withdrawals
Now, this section has a lot of contradictory information and suspicious claims. For starters, there isn’t any information about the exact payment methods which you can use. You will learn all about those in the Terms and Conditions section. Also, the most suspicious thing in our book is the claim that the company will not be held accountable for any potential losses or payment cancelations. This is quite shady if you ask us and leaves the clients to wonder what the surrounding conditions are and how to avoid this entire situation.
The deposits instant which is standard, no matter which option you choose. However, you should know that the Bitcoin transfer option is strangely shoved in your face time and time again, and we have to wonder why that is. When it comes to withdrawals, there isn’t any indication about how long you’ll have to wait for each transaction to complete. This is another important piece of information that Elite Trade Option is keeping for themselves, which is why we advise you again to keep looking for another trading company and avoid this one.
Having a great customer support team is imperative. The agents should be there and available at all times to help you with any obstacles you might be facing. The company claims that you can use no less than three different options to reach out. But how well do they function in reality? Let’s check that out.
The first thing you should know is that Elite Trade Option does not offer a live chat option as a communication tool at all. This is a huge downside since there is a lot of advantages to a chat box. First, you can connect to an agent in a matter of seconds and resolve your issue much faster than with any other option – this is a given. For some reason, however, Elite Trade Option does not offer this option at all. Instead, there is a WhatsApp number that you can use to reach out 24/7, which is pretty great. Or so it sounds, at least. In reality, you will rarely get a response by using this tool or even find anyone online to honor you with a response.
If you opt for calling them, you should know that the line will be busy most of the time. This will probably imply that they have a lot of clients calling them. Meaning, a lot of issues that are waiting for a response. Whatever the reason may be here, it is definitely not a good look.