Trade Millinium Review: this is the name of a Binary options broker that provides no corporate information. Is trademillinium.com a scam Binary options broker?
It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.
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However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.
Trade Millinium boasts of having the smoothest channel for making profit. They also offer expert financial advice to their clients. It operates for 5 days every week trading both currency pairs and commodities.
The brokerage is said to be run by a group of experienced traders and market analysts. After years of professional trading, they are quite certain that they can maximize investors profit. Some aspects of what clients would enjoy are:
Trade Millinium Package Pricing
Bronze – $500 (0.25% ROI daily and 5% referral bonus)
Silver – $1,000 (0.5% ROI daily and 5% referral bonus)
Gold – $50,000 (1% ROI daily and 5% referral bonus)
Platinum VIP – $25,000 (1.5% ROI daily and 10% referral bonus)
We find that there looks to be an error in the pricing of the “Gold package”. Despite this, we also see that the minimum deposit is higher than what we are used to. The obtainable average of $100 — $250 is common among brokers.
There is no information on maximum leverage offered or on the spreads. Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers. Anything higher may seem generous but it can pose danger as well. High leverages can lead to huge loss of funds as well.
Is Trade Millinium Licensed?
No. Trade Millinium is not a licensed Forex broker. It is unwise to trade with unlicensed brokers because they do not have any obligation to be fair to their clients. Misappropriated funds may prove difficult to be recovered.
Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.
Trade Millinium Deposit and Withdrawal
The means of making payments and withdrawals with this broker are advertised on their page. They include: MoneyGram, Bank Transfer, Western Union, Bitcoin, and Perfect Money. We find it discouraging that an e-Wallet like Skrill, with high security standards, is not allowed.
This is because standard and legit brokers make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on.
Withdrawal fees are not mentioned but we found one shady condition. The broker mentions that only withdrawals of $1,000 and above are allowed. This is a ridiculous condition. There is no terms and conditions so it is difficult to be fully aware of what one is getting into.
This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.
There is a message link that appears on opening the page, interested clients can use this to reach the broker or a member of the customer support team.
We do not find much encouraging material about Trade Millinium. One very notable flaw is its lack of proper license and registration. We also do not appreciate the absence of corporate information on the page.
The high minimum deposit requirement is also frowned upon. Traders are encouraged when they see details like leverages and spreads, this is also missing. Lastly, no one wants to agree to something that is not clear, they should make their terms and conditions transparent.
COMPARE WITH A TRUSTED BROKER
Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide..visit their official website
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