OneTwoTrade

It is a binary options trading platform in which people place 'trades' (basically bets) on whether the price of an asset, commodity, currency or indices will go up or down. The minimum trade is £1 and by choosing 'up' or 'down' and an expiry time (half hour intervals), a user can gain an 80% return (return is stated at that time of placing). Although, if you are not correct you lose 95%.

The first problem is that they use very agressive cold calling techniques, promising life changing returns with the help of your own personal account manager (they tell you to set a goal, say a car, a house, a holiday etc). The fact is that people always lose more than they win and OneTwoTrade earn their money from repeat deposits and per trade placed. It is therefore the employee's job to keep the client trading and depositing more money by any means possible (even seminars to 'improve strategies'). Also the employee earns £50 per person, 10% of each deposit and 1% of each trade the person they 'introduced' makes.

The next problem is that people who have signed up to date have done so on the basis of a £100 minimum deposit and a £1 minimum trade. The terms are that you are locked into a 1 year contract with a £50 cancellation fee and a £39 fee for transferring your money back to you (on amounts under £200). They have now upped the minimum bet to £10 with no consultation to users and no option to cancel your contract if you don't agree.

So if someone deposited £100 and now doesn't want to place a £10 trade each time, with a minimum 1 trade per month, they are stuck in a contract with the inevitability that they will end up depositing more money (very sneaky).

There is nothing in their terms and conditions about setting the minimum trade to what they like so they could technically lock people in to 1-year contracts and then impose a £100 or £1000 minimum (at 1 per month or get fined).

If a user doesn't place 1 trade within a month they are charged £4 and if there is no funds in their account it is taken directly from the credit/debit card used to make the initial deposit.

The platfrom is also faulty, in that it is very slow (handy when you have 3 seconds to confirm a trade) and if it glitches when you place one trade, it places two or three (now at £10 each!).

From registering for a free account at OneTwoTrade you can see for yourselves the amount and type of sales calls you get (do so if you dare!).

A lot of information is witheld during these sales calls and as you can imagine, they will say anything to get you joined up and locked in.

Oh and just to top it off, they are registered and regulated by the Lotteries and Gaming Association Malta.

STAY WELL AWAY
Stick with a reputable name if you wish to trade binary options.

Everything they say is true, about how you can make between 65-80% on individual bets, however what they don't tell you is that they can increase the minimum bet whenever they want.

When I signed up the minimum bet was 1 pound, which I was OK with, but 2 weeks later it increased to 10 pounds. There's nothing in the terms and conditions stopping them from increasing it to 100 or even 1000 in the near future, and if I don't trade at least once per month for the next year i get charged 4 pounds just for having an account.

If you want to get scammed, sign up to onetwotrade