Recently we have received a lot of complaints about the binary options broker EZTrader. Therefore we decided to publish this warning, so that you can consider all the facts if you want to open an account with them.
EZTrader is a CySec regulated broker, however what they do to their clients, is sometimes unbelievable. We have chosen a few examples of complaints that we are receiving.
One of our readers sent us an image showing how EZTrader manipulate prices when he wants to enter trades. When he clicks on either Call or Put, the price makes a sudden jump against him. See the image on the right, his examples and comparisons are speaking for themselves.
Another reader told us her story about problems with withdrawals. She made a deposit of $100 to her trading account. She was forced a deposit bonus, although she did not agree with it. So she decided to leave, but EZTrader told her, that she cannot withdraw, because there is a withdrawal fee of $20 and the minimum withdrawable amount is $100. So after paying the fee, she would not have this withdrawable minimum. They told her to deposit another $100, so that after deducting the $20 she could withdraw $180. In our opinion it is just unbelievable.
This is what their Terms and Conditions say: “The minimum withdrawal amount is 100 units of the denomination defined in your account. Withdrawal is not possible without performing at least 3 transactions in the system, or paying 10% of the initial deposit, which is to be considered as a fee as per defrayal costs.”
This proves that EZTrader is something like Zoomtrader, they absolutely don’t want you to withdraw your money.
Another trader accepted a bonus. He deposited $100 and received a $20 bonus. He made two trades and lost $50. Then he wanted to withdraw the remaining $50, but EZTrader refused saying that he accepted a bonus, so he has to meet the turnover condition.
And this happened despite the fact that the TOS say: “You may withdraw your balance at any time.” Obviously they want to comply with the CySec ruling about bonuses only apparently, but in reality they do something different.
We have presented just a few examples of complaints about EZTrader that we are continuously receiving. We believe that this is enough to have serious concerns about this binary options broker. Therefore we recommend not to trade with EZTrader.