ElitetraderOptions is a scam broker running its day-to-day business just like Coin FXC and many other shady websites.
Obviously we can’t recommend a scam broker here, so we’ll redirect your attention to well reputable and regulated brokers.
EliteTrader Options’ website was created in September 2020 but their website purports they’ve won several awards since 2014.
The broker is also providing a Los Angeles address to supposedly mean that they’re operating out of the USA.
However, this does not seem to be the case.
It appears that Elitetraderoptions.com is actually listing the wrong physical location on their website to mislead their audience.
A decent US broker is popular and authorized by the Commodity Futures Trading Commission aka CFTC to offer financial services.
Furthermore, the website of Elitetrader Options is claiming to have helped over 200,000 traders ‘maximize their profit’.
I don’t know which traders have actually found help through this broker because even reviews or feedback about them is hard to find on the internet.
On the other hand, Elitetraderoptions.com claims that they will give you a personal mentor, a trading bonus, a winning trading strategy, fast execution, high leverage and low leverage.
Actually, they list down the following details to lure investors:
1.Leverage of up to 1:500 (US brokers rarely give this kind of leverage).
2.Algo trading and free indicators (MT4 platform provides free indicators).
3.More than 200 financial assets to choose from.
4.Super low spreads (they’ve not published any live spreads on their website).
No matter how I try to look at this website, I actually see a full blown house fire as opposed to smoke.
There are several red flags that characterize Elite Trader Options.
Actually, this review is going to look at how the supposed broker is running its services and whether or not they can be trusted.
Elitetrader Options review
The homepage starts by conducting a quick survey where folks can input how much they’re willing to invest.
This form is also used to gather personal details like email and phone numbers.
With this kind of information, scammers like Elite Trader Option will cold call you to convince you to make a deposit.
They don’t offer any demo account for trading at the moment. So it’s possible that some people will sign up, just to see what they’ll find on the dashboard.
By the way, the broker is also promoting a “trading platform” called Crest Capital Platform.
Information about the supposed platform is scanty at this time.
So at least we know that they’re neither providing MT4 nor MT5 for trading.
The choice of the ‘trading platform’ is bad for most traders who are not familiar with what they claim the platform will offer.
What are the account types?
There are 5 account types where the minimum deposit is $250.
Elite Trader Options is also likely to convince victims to deposit $25,000 and above.
This is because their Platinum account type is accessible with a deposit of $25,000 and above.
Account types with higher deposit requirements also come with dedicated account managers, trading signals, training and personalized trading strategy.
Elitetrader Options does not provide details of who will be providing these strategies to customers on higher account types.
Neither do they publish their signal performance for verification.
Actually, Elitetraderoptions.com does not provide any verifiable means of proving that these features will be awarded to traders who meet the minimum deposit threshold of their high account types.
They are a scam anyway, so when you deposit more money, the higher the disappointment in the end.
Who is the owner of Elitetraderoptions.com?
At this time, it’s quite clear that this is not a company but a mere website purporting to offer brokerage services.
Their supposed webinar is managed by someone called “James Alexander”.
I can’t verify who is James Alexander. The broker did not provide their LinkedIn profile.
Therefore, it’s quite difficult to ascertain whether this is a real person or a pseudo.
At this point, I would say Elite Trader Options is an anonymous broker that does not care about transparency.
Every minute a sucker is born, and Elitetraderoptions.com has made it clear that they’re targeting the less financially sophisticated.
They are an off-shore broker and not operating from the US.
They are not regulated by any oversight authority.
Everything they say about their service is not accurate. I don’t think anyone can trust this kind of website, unless they want to lose money.
They’ve felt to meet the minimum threshold required of brokers who want to establish a reputation in this industry.
Instead, Elitetrader Options has provided reasons not to believe that they are legit.