E-Cryptoption FX Trade -Some Important Details about This Broker

Risk Warning: This E-Cryptoption FX Trade is suspected a clone broker, and it has been verified that this broker currently has no valid regulation. Please be aware of the risk.

General Information

E-Cryptoption FX Trade is an offshore forex broker registered in Belize, allegedly providing diversified range of trading instruments including forex, stocks, commodities, indices as well as CFDs. With this forex broker, six types of trading accounts are available: Basic, Bronze, Silver, Gold, Platinum and Black, with the minimum deposit to trade with this broker starting at £200.

E-Cryptoption FX Trade presents itself as the trading name of Speed Solutions Ltd, regulated by the International Financial Service Commission (IFSC), under authorization number: IFSC/60/391/TS/19. However, we could not find the regulatory information on the IFSC website.

Market Instruments

With the E-Cryptoption FX Trade platform, investors are provided the opportunity to access diversified range of trading instruments, including CFD trading, Forex, Stocks, Commodities, Indices, as well as Cryptocurrencies.

Account Types

A total of six types of trading accounts are provided to accommodate different traders trading needs, namely Basic, Bronze, Silver, Gold, Platinum and Black.

E-Cryptoption FX Trade requires high deposit, with the Basic account from £200, the Bronze account from £1,000, the Silver account from £5,000, the Gold account from £10,000, the Platinum account from £20,000.

Some account services provided including 24/6 support, educational center, daily market review, pro webinars, price alerts, account manager, etc.

How to open an account with E-Cryptoption FX Trade？

Opening an account with E-Cryptoption FX Trade is an easy and simple process:

1. Click the “Sign Up” link, and fill up some required details on the popping-up page.

2. Upload your personal data for this company to verify your details.

3. Choose the preferable payment methods, fund your account (all major currencies: USD, GBP, EUR are available) and start to trade with this forex broker.

Leverage

Problematically, the maximum trading leverage on all trading instruments with E-Cryptoption FX Trade is up to 1:200, higher than the levels regarded appropriate by many regulators, with the maximum leverage for major forex up to 1:30 in Europe and Australia, and 1:50 in Canada and U.S.

Leverage may increase your potential gains, but it can also cause serious fund losses, especially to inexperienced traders. Therefore, it is wise for beginners to choose the smaller size no more than 1:10 until they gain more trading experience.

Spreads & Commissions

Spreads and commissions are not mentioned.

Trading Platform

Payment Methods

The minimum deposit to trade with this broker is £200 and the minimum withdrawal amount varies depending on payment methods, ranging from $50 to $100.

As the withdrawal fees, Platinum and Black account holders are granted their first withdrawal free of charge. A service fee of 3.5% is charged on all other withdrawals. In the event that this percentage equals an amount of $30 or below, the trader will be charged a standard withdrawal fee of $30. The maximum service fee for a single withdrawal is capped at $3,500.

Service fees for wire withdrawals will be charged to the beneficiary.

Withdrawal processing time is between 3-4 business days. Typically, the funds will be displayed on your bank statement a few days after the transaction has been processed, as the withdrawal procedure additionally requires your credit/debit card company and banks approval.

Other Fees Applied

Inactivity Fee

If there hasnt been any trade executed in your account within 60 days, your account will be subject to a dormant account administrative fee of $100,00. The fees will be deducted from your account balance on the date of 61st day and monthly onwards until you resume your account activity, or until the balance reaches zero.

Maintenance Fee

Maintenance fees are a monthly account charge encompassing all services and features available for traders. starting from the initial trade an investor executes, a monthly maintenance fee of 2,000 (USD, GBP, EUR) will be charged to the trading account on the last day of the month.

Customer Support

For trading-related issues or any inquiries, traders can visit E-Cryptoption FX Trades FAQ section, which will provide you the detailed answers.

If you need staff service, you can try to reach out to this broker through the following contact channels:

Telephone: +1 5742273012

Email: support@e-cryptoptionfxtrade.com

Risk Warning

Trading leveraged products such as forex, cryptocurrencies and derivatives may not be suitable for all investors as they carry a high degree of risk to your capital. Please ensure that your fully understand the risks involved, taking into account your investments objectives and level of experience.

The information presented in this article is intended solely for reference purposes.