Exchange Traders Honest Review

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Exchange Traders Honest Review

Exchange Traders Honest Review: Do you consider yourself to be a savvy investor? Well, if yes, then you’ve probably heard of a new broker called Exchange Traders. This is a newly sophisticated binary trading automated software that was recently launched by financial experts that had vast experience in forex, options and derivatives trading. Their main aim was to help investors get the most out of trading with little effort and least experience. Same agenda as any signal service or robot provider.

The software boasts of an easy to use interface together with a hi-tech algorithmic program that generates a 90% win rate. It is also supposed to come with fully customizable features that make it easy for binary traders to have complete control over their investment.

With such superb features, Exchange Traders should be the ultimate auto-trading system. In order to ascertain this, we tried and tested the system. Does Exchange Traders really have a 90% win rate? Is it really good as the developers portray it to be? Stay tuned as we uncover the truth in our Exchange Traders Honest Review.

Exchange Traders Review

According to the developers, Exchange Traders is a sophisticated algorithmic system that works by:

  • Automatically executing trade on behalf of investors
  • Generating market signals with the aim of executing the best possible trades

The software is web based and is supposed to be easy to use. It’s also supposed to save on time since investors don’t have to study on market trends before handling the software. Exchange Traders claims to have extremely high results that can yield thousands of dollars for investors with little to no effort.

The big problem was that we had a hard time ascertaining whether the information provided was true. Up to date, there has been little review in regards to Exchange Traders. This makes it hard to form a conclusive opinion because of the limited information available.

Features of Exchange Traders

  • The software costs $99 on the first month and $149 thereafter.
  • After signing up and paying initial fee, traders are required to open an account with a broker from Exchange Traders. Normally, other platforms offer trades the option of choosing their own broker but Exchange Traders does not.
  • The payout rate is stated at 92%. This is quite high when compared to other trading systems.
  • Only a limited number of options can be traded though this platform.
  • According to the website, they do offer a few different account options and the cost of the services varies by level.

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    How to Get Started

    Getting started involves only two steps;

    • Traders need to sign up and open an account with a broker from Exchange Trader. During sign up you will be required to pay a subscription fee.
    • After signing up you can start trading or rather exchange traders will trade for you. All you have to do now, is to wait for the results of the trades

    Is Exchange Trader a Scam Software?

    Exchange Traders is still a new software in the market and it is hard to conclusively term it as scam. However, there are various aspects that raise suspicion. These include:

    High accuracy rate: the software features a 90% success rate. This literally means that if you place ten trades you are likely to lose only one. The 9:1 ratio might be a false presumption as a number of investors have already come up claiming to have lost their money through the platform.

    All we know about the Exchange Traders is that it features an innovative algorithmic system that generates a 90% win rate. Nothing is mentioned about the signals used or the strategies employed to arrive at the stated 90% win rate.

    Exchange Traders Main Page

    Questionable Testimonials: Normally, testimonials act as a positive indicator. However, the stories and comments presented by Exchange Traders seem somehow suspect. We couldn’t tell whether they were real or not. According to the developers, the platform features a growing social media interest. There are also a few positive blog reviews and success stories from the web. At a glance, it seems like Exchange Traders is well endorsed.

    But if this was really true, why would traders complain about losing money through the platform. This raises the question whether the platform paid a number of bloggers to paint the software as being legitimate.

    Exchange Traders Approved Brokers: It is a requirement to open up an account with brokers approved by Exchange Traders only. In a normal scenario, an investor is supposed to choose a broker of choice. The listed brokers on Exchange Traders are not familiar. This is an aspect that further raises questions.

    No Regulatory Information Provided: We’re not sure whether the platform is regulated or not as such information has not been provided. Does Exchange Traders have a license? Which regulatory body controls the activities of this trading software? Without such information it is safe to assume that Exchange Traders does not operate under the stipulated rules that protect the interests of traders.

    Limitations of Exchange Traders Software

    Lack of high frequency trading: speed is an important aspect when it comes to trading options. A delay of seconds can make a trade to take the opposite direction. Exchange Traders lacks the necessary execution programs needed in generating high speed signals. There is no mention of any co-location service platforms or individual data feeds that work to minimize different types of latency.

    No incorporation of liquidity provision applications: liquidity applications allow traders to profit from small spreads while entering and exiting trade positions.

    The software does not feature statistical arbitrage tools: basically these are programs that search inefficiencies in asset pricing and further look for ways of exploiting these inefficiencies.

    Is Exchange Traders Software Ideal for Potential Investors?

    When we screened the viability of the software, only one benefit came to mind; the software is quite easy to learn and use. However this does not provide enough grounds on why potential investors should adopt the software.

    As much as the software is quite easy to use, it might not be ideal for investors looking to further their career in options trading. The software lacks the necessary support system needed in helping potential traders learn more about options trading. For example, there is no provision of a demo account. A demo account allows investors to practice trading with virtual money.

    Final Verdict

    Let’s revisit our big questions: Is Exchange Traders a scam or a reliable trading system? Can investors entrust their money with the platform? As much as the website looks legitimate, there is not much information presented on how the robot works. The only notable things is just a homepage and a short video presentation that introduces the software.

    When it comes to loss claims, we admit that the presence of scams in the market is to blame for most of the (suspicious) losses made by investors. However, it is important to note that there could be a bunch of other things that result to loss of investment. This could be lack of experience, greed and poor money management. Therefore on the basis of statements made by investors who’ve lost money through the software, we cannot conclusively term Exchange Traders as scam. But there is room for suspicion.

    Generally, Exchange Traders might be a genuine software for trading options. If the software gets close to the 90% accuracy as it claims, then it could be profitable. However there are too many unanswered issues concerning the software. For this reason, we would not recommend it. After making an extensive research, our team of experts concluded that there are better trading bots out there.

    Options trading is a lucrative initiative. If new traders approach binary investment with caution; they can actually accrue reasonable amounts of profits. This can only be achieved through identifying a legitimate trading software. New binary traders can also register with a free trading account before actually diving into the venture. We would also urge our readers to constantly check our reviews on a regular basis as this will prevent them from signing up for bogus services.

    If you’re looking for a reliable trading software, we would highly recommend the Option Robot. This is one of the few leading providers of authentic trading signals. It offers a trading experience like no other. Over the years, it has managed to build a reputation for being the best auto-trading software. What’s more is that the software has been tried and tested by real users. It has also won a number of awards like “Best Auto-trading Software 2020.” It gets even better as Option Robot comes with a bankroll of management systems which regulate and control the level of risk within an investment. These are Classic system, Martingale system and Fibonacci system. We also loved the fact that Option Robot maintains a high level of transparency. With an FAQ section, traders have a huge database containing all the information they’ll ever need.

    For us to recommend a software, it has to display the highest level of success. That is exactly what Option Robot is all about, there’s no hyped sales pitch, no false testimonials. Just a simple trading software that delivers results.

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    We have been reviewing and assessing binary option brokers that allow you to trade binary options for many years, but even we have been surprised at the growing number of solutions available. The problem is that for one good and honest platform, there are several that are bogus. What about Exchange Traders? Read our review to find out.

    Basic information:

    Cost: Free
    Software: 100% Automated
    Max Returns: Up to 88%
    Minimum Deposit: $250
    Countries: All nations

    – Automated trading signals
    – Website is attractive and easy to navigate

    – The Software is not free
    – Traders have limited control of the system
    – Unreliable customer service
    – No Demo Account Available

    7BO Verdict:

    Not Reliable Service

    What Is Exchange Traders?

    Exchange Traders is a fully automated platform for trading binary options. It is web based and easy to use, plus it saves you time as you don’t need to study markets; the platform handles everything.

    How Does Exchange Traders Work, and What Does It Cost?

    Exchange Traders costs $99 for your first month and $149 per month thereafter. This makes it different from most other binary options platforms, which are available for free. After you pay the initial fee and sign up for the monthly subscription, you must open a trading account with one of Exchange Traders’ recommended brokers. Most other platforms give you the option of using your own, but Exchange Traders doesn’t.

    Once everything is set up, the Exchange Traders algorithm analyzes the market and makes predictions. There is a limited list of binary options available to trade compared to other similar platforms.

    What Are the Claims?

    The platform is completely automated, and it claims it is 80 percent accurate. In other words, it will make correct trading decisions on binary options 80 percent of the time.

    Is It a Scam?

    The prediction that Exchange Traders gets 80 percent of its decisions correct is hard to believe. It doesn’t stand up to normal mathematical models or scrutiny. Apart from this claim, there is no other proof offered by Exchange Traders.

    Another thing that concerned us about Exchange Traders is the testimonials published on its website. Normally, testimonials are a positive indicator. They are stories and comments by real people that back up at least some of the claims made by a company. The testimonials we found on the Exchange Traders platform, however, were suspect. Obviously we don’t know if they are real or not, but the appearance of authenticity is as important as actually being authentic. In our opinion, Exchange Traders’ testimonials don’t have that appearance of authenticity.

    Does all this mean it is a scam? Absolutely not—Exchange Traders may be a perfectly genuine platform that delivers some or all of what it promises. While we would never call it a scam, big questions remain about the hard-to-believe accuracy rate and the hard-to-believe testimonials.

    Finally, the requirement to set up an account with one of Exchange Traders’ approved brokers also concerns us. The brokers we could see on the list were not familiar to us, so we have no way of judging their abilities. Again, this doesn’t make it a scam, but it does raise further questions.

    Conclusion – Should You Use Exchange Traders?

    Exchange Traders might be a genuine platform for trading binary options, and if it gets even close to the 80 percent accuracy it claims, it could be profitable. There are too any questions and concerns for our liking though, so we don’t recommend it.

    Leader in Forex Broker Insights!

    We’re a team of experienced forex industry experts who aim to provide impartial review on leading regulated forex brokers.

    Having worked for several leading global forex brokers ourselves, and having traded forex for several years, we exactly know how to tell if a broker is fair and transparent.

    Our broad industry experience has taught us intricate ways of analysing forex brokers, their platforms and their offerings. So, this website is our way of giving back to the community and our attempt to spread our knowledge. At iReviewForexBrokers.com, we’ve done the hard work for you. We’ve carefully reviewed all leading regulated brokers and narrowed down to a shortlist of best forex brokers which we believe provide the most value.

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    How to Select the Best Forex Broker?

    How to select the best forex broker is a truly personal question and not one that can quickly be answered unless considering the specific trader’s personal needs. Everyone is looking for something slightly different when trying to settle on which forex broker to open an account with.

    When it comes to selecting the best forex broker, just remember that everyone’s needs are slightly different and a one size fits all approach to reviewing them is never going to fully cut it. In saying that however, there are always a few key points that should be universally considered by traders when making that final choice. That’s where iReviewForexBrokers comes in! We have taken the key elements that all forex traders simply MUST consider when it comes to choosing the best broker, combined them through our proprietary formula and printed the results for the entire forex trading community to see and compare.

    Just keep in mind that if your specific need isn’t considered within our review formula, then you aren’t going to get the results that you require. It would be like trying to push a square peg into a round hole. As this is the case, if you need anything further, please don’t hesitate to get in touch with us on social media using the buttons at the bottom of the page and we’ll do our best to come up with some answers that consider your specific needs.

    How do we Review Forex Brokers?

    The review process for forex brokers is actually very straightforward. As we are not affiliated with any single forex broker, we are able to give an accurate and most importantly unbiased forex broker reviews across the entire industry.

    The way that we conduct our reviews is by breaking up the competition into categories and using our own proprietary formula to come up with a final ranking. Some of the categories or aspects that make up the best forex brokers are as follows:

    – Security of funds

    These of course are just a few of the categories considered. Keep reading to the bottom of the page where we delve into a little more detail around each of the points above.

    Now, while we can’t delve into the technical aspects of how we review forex brokers, you can be assured that the formula that we use has been developed by experts on both the broker and most importantly, the trader side. It’s this mixture of forex broker and forex trader expertise that sets us apart from other review websites that are very focused on the opinions of brokers. This goes completely against what a forex broker review website is actually trying to achieve and by understanding this issue, we set ourselves apart.

    Why it’s so important to trade with a regulated forex broker?

    The number one reason you should trade with a regulated forex broker is safety of deposited funds. When you are trading with a broker that is regulated in a reputable jurisdiction, you can be sure that your money is safe and secure. Regulators in Australia and the UK ensure that licensed brokers are solvent and are operating their business in a compliant and fair manner. Imagine depositing $10 000 of your hard earned money, trading it into $30 000 and then waking up morning to find your broker has declared bankruptcy.

    Safety of funds doesn’t just cover issues of solvency though, unregulated brokers (and even poorly regulated ones) are renowned for making withdrawal processes difficult, blocking withdrawals, or cancelling profits. This is any trader’s worst nightmare: you have placed your trust in a broker, worked hard all year and then find they are just a polished scamming outfit setting out to rip people off.

    Unregulated and poorly regulated brokers are also notorious for underhanded tactics and dirty tricks designed to stop you from being profitable in the first place. One example is delayed and rejected orders: unscrupulous brokers can delay the processing of your order in order to fill your trade at a worse price, or fill you at the original requested price, after the market has moved against you. Other brokers widen their spreads and manipulate their price feeds during times of high volatility. The aim here is to trigger clients stop losses that would otherwise have not been triggered, turning your otherwise winning trade into a loser. Becoming a profitable trader is hard enough without having your broker actively interfering in your trading activities. By carrying out ample research and due diligence when selecting a broker, and only trading with reputable brokers, regulated in regulated jurisdictions, you can avoid all these pitfalls and focus on what you are here to do: turn a profit.

    What You Should Consider Before Opening a Live Account With a Forex Broker?

    Honed your skills on a free forex demo account and feel you are ready to make the transition to live trading with real money? There are a few things you should consider first.

    Firstly, is the broker you are selecting a reputable brand? It is important to distinguish between a well known brand and a reputable brand here, as one does not necessarily equate to the other. Some of the most well known forex brokers actually have the worst reputations amongst the trading community. Reputable brokers are popular among the trading community and have a loyal niche following, they may not necessarily be the brands you see on TV or read about in the news, but they know they are doing and they do it well. On the other hand, if no one’s ever heard of a broker you’re looking at trading with, it’s probably a good idea to park your money somewhere else – no one wants to be a ginuea pig.

    Is the broker you are looking at regulated and more importantly, regulated in a reputable jurisdiction? Or is it regulated in a known tax haven, jurisdiction with lax regulations or even unregulated? It is important to note that even if an unregulated broker has a good reputation amongst its clients, in the event something does go wrong, you will have very few avenues for recourse. We’ll discuss the importance of trading with a regulated broker in a little more detail further on.

    Once you have found a reputable broker, regulated in a reputable jurisdiction such as the UK or Australia, there are a few more factors to consider. Does the broker offer competitive spreads and commission charges? Though a difference of a couple of points does not seem like much, these points add up to pips very quickly. If you are scalping you will need a low-spread true ECN broker, but even if you are trading a longer term strategy, do you really want to be paying more in fees and charges than you have to? The aim is to put your kids through college, not your broker’s!

    Does the broker offer fee-free deposit and withdrawal options? You’d assume all brokers do, but many don’t and sometimes available options can depend on where you are located. For example a broker based in the UK might have fee free deposit and withdrawal options for residents of the UK, but if you live in Australia, you may have to withdraw via outdated and expensive options like Wire Deposit. Losing 5% at the point of deposit is not a great way to start off your forex trading career and withdrawal fees may deter you from making a withdrawal when you otherwise should.

    What about support? Does the broker employ support staff 24/5 or only during local business hours? There is nothing worse than having to contact your broker regarding something urgent and finding there’s actually no one to talk to for half the day. Like deposit and withdrawal options, this is only usually a problem if you are trading with a broker based in another timezone. For example a broker based in the US may only offer support during US business hours, which really isn’t going to be that helpful for a trader based in Sydney, trading the Asian session.

    The final thing you should consider is how much you are willing to invest on your initial deposit and what the brokers minimum is. Some brokers have very high minimum deposit requirements linked to their ECN accounts, we have seen brokers with ECN minimums upwards of $20 000 USD. The best ECN brokers will let you try out their services with as little as $500, and this is a much safer option for an initial deposit. Even if you are planning on investing $5 000 – $10 000 in the first week, it is a good idea to just deposit the minimum at first, do a few trades, make a withdrawal and get a feel for the broker’s product and service.

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