Brokerage activity is becoming more popular every year. But there is a large number of scammers that use different schemes for their enrichment. Here you can see a review of one of the Forex Binary Brokers – 360 Trade Bay. This platform was founded in 2014. It offers to the trade of indices, currencies, ETFs and commodities, shares.
Review of Website
Its website is very easy to use. On the home page, you will see a bit of information about the platform which immediately evokes sympathy and trust in the broker. For example, how much money was paid out for investors or the number of sellers working on the site. Here very impressive figures are presented.
There are several buttons that can be clicked and go directly to trade transactions there: Deposit, Get Profit, Withdraw. In general, the interface is very simple and doesn’t cause any problems. You can pay with 20 payment systems. You will not find any extra information on the site. There will be only promises of big profits and an opportunity to pay there. Every step is easy to understand.
The system offers you a few simple steps to make a profit. The platform offers 4 types of accounts: silver, gold, platinum and diamond. They differ in the amount of the down payment they. You need to enter a little of information about yourself to sign up. After that, you can try to make money on a bargain. Trading is based on more than 400 assets.
You will not pay a commission for all the manipulations conducted on the site. The minimum deposit is $ 200. 360TRADEBAY offers crypto-reactors, such as ETH, BTC, LTC and OMG, FX and CFD. Profit depends on the level of risk. The higher it is the higher is the percentage.
Sometimes the system offers to invest only a dollar and to receive interest every day. But free cheese is only in a mousetrap. You should carefully research the work of the broker before investing money. The broker charges bonuses to the trader. In this case, the withdrawal of the deposit or earned money becomes available only after working out the terms of the bonus. In case of deceit of the user, the transaction will be closed completely not in favor of the trader.
Is 360 Trade Bay a Scam?
The legality of the broker’s activity can be verified by having a license issued by various organizations that oversee the broker works. For example the FCA in the United Kingdom, CySEC in Cyprus or ASIC in Australia. 360 Trade Bay is not regulated. So it doesn’t have a license.
You risk losing your money investing them.
How to determine the reliability of a broker?
The analyzed broker does not meet the following parameters:
- The company has been serving for less than 5 years (the company began operations in 2014);
- No license;
- There are no prestigious prizes and awards.
All these points indicate a low-reliability level of the broker.
You also need to look at the registration specifics of transactions. The easier the transaction is the more it is likely that you are deceived.