Money is one of the most sensitive aspects in all of our lives and finding the best company to trust with it is an important decision. We’ve done some research and testing into 23Trader so you don’t have to. Most importantly, this way, we hope to prevent unwanted situations: on both sides.
Is 23Trader a scam?
It’s not unusual that people make a complaint against their brokers, but 23Trader has managed to find itself bombarded by such complaints. Some users even mention that 23Trader might be a scam, so keep your eyes open.
23Trader has a relatively easy way of setting up on the platform. Everything is done online, without the need to install any software on your computer. 23Trader doesn’t bring a lot of innovations with regard to the platform and its exterior image. It looks pretty much the same as other online trading platforms. One of the most bizarre features of 23Trader was the fact that it lacked any supporting or learning materials. Usually, these kinds of websites offer new users access to updated tutorials or webinars so they can start on the right foot. Well, not here. 23Trade does not come with major innovations in this regard, or in others, for that matter.
There is no clear evidence that 23Trade is a scam. Nevertheless, this company has faced customer problems in the past. There is some suspicion circulating online that 23Trader is manipulating prices in order to always win a bet. There is also some information circulating online that 23Trader was deregistered on March 5, 2015. This is incorrect but the causes for such rumours to begin might well be real enough to warrant avoidance. We don’t believe that one or two complaints are an issue that characterizes a company. But repeat complaints can be a sign that there’s a problem.
An old advice goes like this: don’t put all your eggs in one basket. The more you will be exposed to 23Trader, the higher the risk to lose your portfolio. 23Trader has less options available the top brokers are offering. A limited selection is not much of a problem for new traders but those with several months of experience want to get a wider exposure to the markets to limit risk. When you can access over 70 assets you can tailor your trading to fit your needs. 23Trader does not give the widest exposure.
23 Trader Platform?
Getting started with the 23Trader platform is a rather unpleasant experience as there are no informative tutorials and you have to figure everything by yourself. The Platform was slow and at times unresponsive, although that might be dependent on internet speeds and number of active users, but it was at time frustrating.
Deposits with 23Trader?
23Trader offers between one and three days for withdrawing money, a standard term for most online broker companies. While people have complained that it take sometimes more than three days to receive the money, no users have complained that their money did not arrive.
It’s very hard to believe that 23Trader is a scam. Nonetheless, 23Trader is, for sure, not innovative in any way on the market of online trading companies. 23Trader does not provide ground-breaking assistance to its new users and does not project a welcoming image to those that come for the first time on their platform. If you’re looking for a company that will assist you during your beginner period, then you haven’t come to the right place. The company seems geared on making as much money as. After this comprehensive test of 23Trader, loads of small issues came to our attention, but they were left out because they are not specific to 23Trader, but to all companies operating in this market.
Finally, there is no reason to be concerned about the legality or honest nature of 23Trader. It just seems like a company that is not doing enough to innovate and progress, or making services better for its customers. We don’t recommend 23Trader for rookie traders because there’s not much support coming from the company. On the other hand, experienced users will not like for sure the limited market exposure offered by 23Trader.
- clean website
- Excessive Online Customer Complaints
- Negative client comments about the trading platform
- complicated trading volume bonus requirements
- Inexperienced account managers