Elite Trade Option Broker Review 2021
Finding a reliable brokerage in 2021 can become a cumbersome experience. However, if you have any experience in this industry, it’s very easy to spot scammers. There is a saying that you shouldn’t judge a book by its covers, but in this case, the effort brokerages put into their presentation is very indicative of how good the rest of their offering is. When looking at what Elite Trade Option has installed for its current and potential clients, we have to note how disappointing everything seems. When you go to their homepage, you are greeted with a single-page layout that seems more appropriate to some student project than a reliable and trustworthy brokerage. However, we didn’t want to judge too quickly, so we dedicated some time to trading and seeing everything Elite Trade Option has to offer. Here is our detailed breakdown of everything we have experienced, including some shocking omissions. Be sure to stick around until the end of our Elite Trade Option review to find out whether you want to dedicate your time and money to this newly established brokerage.
Tradeable Assets at Elite Trade Option
Elite Trade Option does everything possible to hide any platform information from their potential clients. The only way you will actually see what you are receiving is to actually open an account and pray for the best. Does this sound like a good business practice to you? We have reviewed a lot of brokers over the past several years, and we have never seen such a blatant scamming attempt. The only place you can actually catch a glimpse of this platform and its assets is in two screenshots on the homepage, and even those are not 100% accurate.
So what do you actually get? Pretty much a decent range of financial instruments, including forex, but with a heavy emphasis on crypto. If you have no intention of trading crypto, then Elite Trade Option is not a broker for you. Later on in the review, we will discover why this brokerage is pushing crypto so hard, but for now, know that that Is practically your only viable option.
Elite Trade Option Trading Platform Features
As previously mentioned, if you do not open an account, you pretty much have no idea what the actual platform looks like. If Elite Trade Option was using some industry-standard solutions such as Meta Trader, we imagine they would proudly place that on their homepage. Even if they have built their own custom platform, it stands to reason, they would try to sell you on some of its features. Alas, there is hardly any mention of it on their website. If you think all of this is suspicious, you are dead right.
In reality, you get a pretty amateurish looking platform that doesn’t even look that user-friendly. Navigation is anything but intuitive, and even more important, the platform is lacking any useful tools. While some will argue that platforms such as MT5 offer a lot of tools, but in turn, they slow down the trading experience severely, Elite Trade Option solution fails on both ends. It fails to deliver handy features while maintaining a very poor performance throughout.
Account Types Offered at Elite Trade Option
Elite Trade Option doesn’t offer any differentiation when it comes to account types. This is a fairly common practice in this industry, and it is meant to accommodate the needs, ambitions and budgets of all types of traders. Here, you will not get this luxury. Everyone gets the same lacklustre conditions, regardless of the amount they deposit. This is probably due to the fact that Elite Trade Option doesn’t really have any perks to offer to its traders.
These mostly include educational content, withdrawal prioritization, analyst sessions, daily reviews and alike, but sadly, you won’t find any of these here. No content is available, not even after you open an account. This bare-boned approach does Elite Trading Option no favours, especially given the fact that practically every other brokerage out there takes much better care of their clients by offering them both short and long term incentives to stick around. This is just another in a long line of reasons why we believe Elite Trading options is nothing more than a scam, just attempting to cash in as much as possible before everyone realizes what they are about.
Withdrawal and Deposit Methods at Elite Trade Option
Things get especially funny when discussing available payment methods. As expected, nothing can be found on the homepage, but rather, you need to dig through the terms and conditions to discover anything. Imagine our surprise when we were greeted by this note “ATTENTION PLEASE…NOTE THAT ALL DEPOSITS/PAYMENTS SHOULD BE MADE DIRECTLY TO THE COMPANY ACCOUNT/ BITCOIN WALLET ADDRESS, NO PAYMENTS/DEPOSITS SHOULD BE MADE TO ANY ACCOUNT MANAGER.THE COMPANY WILL NOT BE HELD RESPONSIBLE FOR ANY LOSS THAT COMES WITH MAKING PAYMENTS TO ANY ACCOUNTS MANAGER…THANK YOU FOR YOUR UNDERSTANDING AND COOPERATION”. If this isn’t a red flag, we don’t know what is. According to this, even the brokerage doesn’t have full control over its employees, and who would in their right mind what to do business with a company like that?
If for any reason, you do decide to trade with Elite Trade Option, you should know that Elite Trade Option offers several options, but heavily promotes Bitcoin transfer because they cannot guarantee that using credit, debit cards or wire transfers will “be available at all times”. We cannot even comprehend what this even means since this is the first time we have ever encountered anything like this. At this point, we would advise even the most adventuristic traders to stay clear of this so-called brokerage.
Is Elite Trade Option Team Helpful?
Any experienced trader will tell you how vital a good support system is. At some point during your trading, you will need assistance, whether it is a technical question, you simply need to talk to someone. Elite Trade Option isn’t very helpful on this end either. Technically, you do get three options, but good luck getting a reply to any of them.
Let’s address the most oblivious one first. Instead of offering a chatbot feature for easy and quick response, Elite Trade Option gives you a WhatsApp number that you can supposedly contact 24/7. This is highly unprofessional, and it is unheard of in this industry. On top of it all, the number isn’t even available most of the time. In addition to this, you can write them an email, or contact the number provided on their homepage. This is a U.S. based number, but we have no idea what their operating hours are since the line is always busy, and we cannot imagine there is that many traders on this brokerage that would occupy the customer support every minute on every day. More likely, that line is left unavailable on purpose, just to keep up the already laughable appearances.
Finally, the only way you will get any response is via email. Still, at this point, it’s hardly surprising that the response time is significantly larger than what you would expect with its competitors. You are looking at anything from a couple of days to two weeks before you hear anything back from Elite Trade Option representatives. And even then, the reply you receive is hardly satisfying, mostly just sticking to formulaic responses, probably copied from the internet. If, or better said when, you face an issue of any kind, you are left to your own devices.
Shall I Trade with Elite Trade Option?
At the end of our Elite Trade Option Review, we are left puzzled more than anything else. We have so many questions and little to no answers. First of which would be addressed directly to Elite Trade Option. We cannot comprehend how could anyone release such a product on the market, being fully aware of its shortcomings. This isn’t a new industry, and it’s not like you have to invent everything from the ground up. We have seen many successful brokerages that are carbon copies of their competitors, but at the end of the day, they manage to offer a decent package to their traders. This is not the case with Elite Trade Option. It seems even that they went out of their way to put their clients at a disadvantage at every possible corner. Given the poor state of this brokerage, we have to ask ourselves why anyone would, regardless of their experience level, even attempt to trade, given the number of red flags. To sum up, Elite Trade Option is a blatant scam operation and should be avoided at any cost. This is the reason why the online trading industry sometimes gets a bad reputation, but luckily, there are plenty of other brokerages that are far more worthy of your time and money. Be sure to check our other reviews to find one that is best suited to your needs.