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How is eztrader not a scam?

I saw an ad, and decided to click through.

I've searched on Yahoo, and found nothing that states that this is not a scam.

Exactly how is it not a scam? You pick a share and if its going to go up or down - and regardless of if it goes up or down, you make money. How exactly does that work? How is this not a ponzi?

Common sense tells me this is a ponzi scam. Can anyone explain how it is not?

Update:

Additional:

In response to the 1st reply, i saw somewhere on the site that you could make money even if you were wrong. I played with the site (i didn't sign up) and it shows that you can either make money or break even if you are wrong. Sounds like a dream business to me, but its a scam and every ponzi comes to an end. The weird thing is that a search throws up nothing negative on this company. They also operate out of Cyprus, and i'm guessing its going to be the Turkish side where it may be harder to take action.

32 Answers

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  • 1 decade ago
    Favorite Answer

    "and regardless of if it goes up or down, you make money."

    It doesn't work that way.

    You are correct, it is a scam and sure looks like a ponzi scheme.

    " Deposit $350.00 and we will credit you a bonus of $50.00

    -or-

    Deposit $1600.00 and we will credit you a bonus of $400.00!!"

    So you give them $300 and they give you $50? Who made money?

    You give them $1600, and they give you $400. Who made money?

    Reported to SEC Enforcement

    http://www.sec.gov/complaint/cf942sec9570.htm

    =====================

    edit/follow up:

    You are correct. If the company is offshore, esp in protected Cyprus, it will be extremely difficult and expensive for even US regulators to stop the scam. Trying to win a law suit from these countries is like trying to have permanent peace in the middle east. Avoid.

    Source(s): --- fmr Compliance Officer and Registered Options Principle (see bio)
  • Anonymous
    4 years ago

    1

    Source(s): Auto Binary Signals http://netint.info/AdvancedTradingTechnology
  • 5 years ago

    Eztrader

  • 5 years ago

    Since the first accusation of a scam was posted, the remarks seem to have been spiraling out of control.

    Every company will have complaints, it’s always going to be this way but to come to the quick conclusion that there’s a scam is just wrong. EZTrader is not perfect but by no means it a scam. For every unhappy customer there are plenty more satisfied ones.

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  • 7 years ago

    AVOID AVOID AVOID EZTRADER

    This IS A SCAM!!

    This is what happened to me, please don't fall or it. Put Eztrader into a search engine and read the horror stories - there's alot!

    EZTrader Scam:

    1. You will be taken in by advertisements and fake endorsements and choose to check out the service.

    2. You will then be contacted by an EZTrader representative who will push their bonus option.

    3. You will not be given chance to read their terms and conditions before making a deposit.

    4. With the promise that you can "just give it a try" using the bonus, you begin to trade.

    5. You will (probably, as i did) have a number of problems with the website and decide it's not for you.

    6. You will then ask to withdraw your remaining funds.

    7. You will be told to prove your identity by emailing scanned documents/ID before withdrawing.

    8. You will still not be able to withdraw and will now be asked to remove the bonus before you withdraw.

    9. You attempt to withdraw the bonus but all communication breaks down, no replies to emails and no answer to phone calls.

    10. They will stall until you're over the 90 days.

    11. Then empty your account of the bonus as well as your remaining funds.

    12. They will then quote terms that you were not given time to read.

    They have a number of clauses in their t&cs that allow them to steal your money!

  • Anonymous
    6 years ago

    This Site Might Help You.

    RE:

    How is eztrader not a scam?

    I saw an ad, and decided to click through.

    I've searched on Yahoo, and found nothing that states that this is not a scam.

    Exactly how is it not a scam? You pick a share and if its going to go up or down - and regardless of if it goes up or down, you make money. How exactly does that work?...

    Source(s): eztrader scam: https://shortly.im/whth3
  • 5 years ago

    Based on my personal experience EZTrader is a SCAM.

    You can not expect to make a withdrawal onece you have made a deposit or profit. What the others write is true -hey start postponing with all possible lame excuses and explanations.

    In my case as I kept insisting, in the end they closed my account some days ago!!! The reason – their server has suposedly given me wrong quotes! Can you believe that a company whose busines is to give you quotes will have a problematic server and will make wrong over 900 quotes (984 to be exact!).The worst part is I can not clame the EURO 1802 that I had as a withdrawable balance on my accout before they closed it.

    DO NOT BE MISTAKEN TO EVER TRADE WITH THEM!!!

  • 5 years ago

    I find that a nice way to manage your profits is to work out a practical amount you would like to make monthly and then to make a withdrawal every two weeks. Even though the withdrawal will take about a week to go back into your account, you still stick to the plan making sure you are on target. If you have made a lot in the first two weeks, more than what you want to make monthly, then only withdraw half of what your desired monthly profit is. Don’t go withdraw everything so that you have nothing to trade with. Be consistent and later on down the line when you really get the hang of it, you can raise your monthly profit goals. I have learn that money management is an important factor in successful online trading.

  • Anonymous
    7 years ago

    Binary options are not a scam, it's a high risk new kind of trading.

    Eztrader is regulated by CySEC which in my opinion is a proof for being a reliable broker.

  • 1 decade ago

    It's actually not a scheme, which is why you can't find anything stating that it is...

    There's no free lunch either. A binary option, also known as "all or nothing" is a very extreme financial instrument. Your stakes are known ahead of time, but you can sure as hell lose your money (or gain a pretty high return). Note that if you expire "out of the money", meaning your investment went bad you lose 80-100% of your investment. If you succeed in your investment, you make 60-70% return. I guess this also explains how the broker can afford those high returns (not everyone succeeds).

    So, not a scheme, but not for the faint of heart, and certainly not a way to pay your college tuition.

    Incidentally, the physical address is on the Greek side of Cyprus, and not the Turkish one.

    Source(s): EZTrader FAQ EZTrader terms of service Personal experience http://en.wikipedia.org/wiki/Binary_option
  • 5 years ago

    It can be very difficult to figure out which trading strategy works for you as there are many. If you are considering starting there are regulated brokers like EZTrader with good platforms but discovering the right methods and techniques to succeed depends entirely on you.

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