Not Trusted Broker By BinaryOptionsThatSuck.com

EzTrader Overview

EzTrader
EzTrader
Bonus: up to %50%
Options Profability : 60-95%
Rating: 7.5 / 10

Basics

Broker Name: EzTrader
Platform: EZTrader
Founded: 2008
Bonus: up to %50%
Return/Refund: 60-95%/0-15%
US Traders Accepted: No
More EzTrader Basic Information

Features

No. Of Assests : 58
Regulated : Yes
Demo Account : No
Deposit Options : C.C., WireTransfer, MoneyBookers, and more
Language : English
Minimum Deposit : 200

Screenshots

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Review Last Updated 2014-08-28 11:29:51

Editor’s Note- Why does EzTrader Sucks in 50 words

According to EZTrader, their goal is to make Binary Options trading “easy”. Well, in my opinion they succeed…but I think they even surpass their expectations because in their attempt at making trading easy, they leave out a lot of useful features and the platform is just too basic. It still remains a good platform for really green traders, but not good enough for the experienced ones.

 

Check out our recommended binary options brokers

 

Why EZTrader doesn’t Suck in 50 Words

They recently updated their website and the effort is commendable. It looks more crisp, the design is adapted to the current standards in the industry and overall, they improved a lot since our first review was presented.

 

 

EzTrader Full review – Casino or a real broker?

Eztrader is considered to be a pioneer in the Binary options industry. Since 2008, Ez trader stands for friendly and 100% web environment platform for binary options trading, with no need for any kind of software downloaded to the PC. Eztrader offers traders online consulting advisors who will be more than willing to share their knowledge of the market with you once you open an account. Generally they seem to be a nice and friendly Binary options trading company, with a improved amount of assets: 91, more than double the amount they had previously (44). Eztrader also offer you high effective return, and are near the top of the Binary options industry (95% for certain assets). So why does EzTrader suck? With so many EaZy options on the friendly website you can only get lost very EaZly in the binary options trading Options Ocean, which is a game of thinking from the beginning. Before you start trading binary options and make your very first deposit, or even if you’re a sophisticated trader, keep in mind one important thing: Binary options trading requires research and lots of thinking before you start wishing good luck. It’s a game of thinking. Binary options require strategy. One downside of the website still remains the understanding of the asset which is crucial for building a trading strategy and better understanding of the trading asset. The navigating process still has some issues but they definitely improved on this category as well. If an investor tries to find out the assets expiry time, he/she will be able to do that a lot easier than before by just checking the column on the right hand side of the trading platform.

 

Yes its true- Eztrader made the binary options game of thinking look more like a gambling game for quite a while, but now they start to finally look more like a Binary broker than a gambling site. Before, they made you feel like you are in the playground, and your mother asks you nicely: “what kind of a lollipop would you like?” while your dad (the consulting advisor) recommends you which one is better. Although they improved like I said, I still believe the thinking type of binary options investor should go for a more reliable and professional broker. The simple platform also lacks some more advanced features than simply browsing between assets and sorting them. That feature can be found often in most Binary options sites. In my opinion, EZtrader has over-simplified the trading of binary options.  It is better to consider it as an online betting game. Binary Options Trading is more of a common high risk high reward short term investment tool then Casino gambling. It is much better than online betting games. Here you are not really gambling, since almost anything you are predicting based on your proper research.

 

 

Is EZtrader a Scam?

Eztrader invests large efforts and resources to attract potential investors, mostly by offering good bonuses and no-fee or commissions while purchasing options. They also invest in maintaining effective costumer support system with live chat and constant loyalty bonus offers to it costumers. I have to admit they do offer some very nice bonuses, but as I was saying before- big bonuses and low extra fees matches the description of on line casino betting or other gambling sites. If you’re looking for extra high bonuses –then go play roulette. Good Binary options trading brokers don’t necessarily give away bonuses because they assume that if you have decided to join their trading system and trade Binary options with them, it means that you choose professional trading system and a trustworthy broker. In my opinion, high bonus offers and extremely low charging fees are suitable with casino gambling and binary options broker’s scams, while good Binary options trading brokers maintain pro’s software and analysis tools and more information about the assets- better suited to the different types of investors. Sometimes good binary options trading brokers may not offer the best bonus available in town. It’s no reason why you shouldn’t start trading with them, since in most cases they simply offer professional and more honest trading tools. Yet, gambling is easy a lots of fun,but although in the past, trading on EZTrader was similar to gambling, not they start to look more and more like a reliable broker. However, there is still much work to be done.

 

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EZtrader Complaints

Being around for so long, it’s easy to find comments about EZtrader. A simple search for EZtrader complaint, scam, fraud, etc will discover lots of information about that company. Most complaints are negative, but that’s conventional since most complaints come from unhappy costumers or competitors. Either way, there are lots of complaints so I can only assume that a few of them are possibly true.

 

EZTrader Bonus

As I was saying in the EZtrader full review above, the bonus at EZtrader is quite extensive. You can receive up to $2K as bonus but you will have to contact them directly to get the full terms and conditions that apply. There is also a $250 bonus for a deposit of minimum $500 and the wager is 25 times the bonus received…but you have to accomplish that volume within 90 days

 

EZtrader Withdrawal

Withdrawal procedure seems quite average at EZtrader, it takes about a week to get your money back.

 

 

EzTrader Ratings

 

User Friendly 16/20

EzTrader is a Simple and user friendly site. The Help and FAQ sections are useful tools which help its traders understand the basics of binary option trading. EZTrader also provides online help around the clock. No software download is needed, as the EZTrader platform is 100% web-based.

 

One drawback of the site is the lack of further information regarding the asset such as trading times and general asset information. However in a few indices there is a News button taking the investor to news bites about that particular asset. Overall, the usability of the site is EZ and fun experience.

 

No. of Assets and Expiry time 15/20

EzTrader offers 58 stocks, 19 indices, 10 currencies, 4 commodities, totaling 91 assets for purchase. They increased the number of available assets, improved the expiry times and overall flexibility of the options since they updated their website so it’s good to see some steps forward.

 

Commissions, Support and Effective return 16/20

EZTrader does not charge any fees or commissions from its investors when they purchase options. The Effective return goes as high as 95% for certain assets and the refund for Out of the Money trades can reach 15%. The Customer Service is available by phone on 4 international numbers and by email. Additionally there is a live chat where they respond immediately.

 

Deposit, Payment and Bonus 14/20

Depositing is available via Credit cards, e-wallets and Wire transfer; accounts can be held in US Dollars, Euros or Pounds. Payment is available via credit card with no fee charges but only as high as the initial deposit. If you choose a wire withdrawal, you will have to pay a 15 euro processing fee. The Bonus goes as high as 50% but the trading volume required for a withdrawal must be reached within 90 days according to their Terms and Conditions

 

Website Extra’s 13/20

The Homepage has a couple of extra features- “Today’s Trades” option is a box showing the percentage split between Calls and Puts that day. Another friendly option is the Reuters Financial News feed, which enable users to keep up to date with the market news.

 

EZTrader Overall Score 72 + Regulated (+3) : 75/100

Check out our recommended binary options brokers

 

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49 Responses to “EzTrader”

  1. Wilburn Chars says:

    Thanks a lot for the effort of sharing this to us. It is very helpful.

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    • Former EZTrader says:

      Stay away from this site!!! If you win for an extended period of time, they can and will change past trade results. You never get a confirmation of settlement by email. I’ve witnessed settlement quote changes an hour after the trade completed. It is completely insidious the way they control the game.

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      • Fazi says:

        Can u plz tell me a better and reliable site of the same type????
        My id is fazi_abn@hotmail.com,plz do reply.Anyone can share his/her reliable sites, even the eztrader one.

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  2. Nohile says:

    Stay away from this site !!
    I never get my money after the supposed withdraw.
    The withdrawal service will lure you if by chance you get any answer !!

    STAY AWAY that’s the best advice I could give you

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  3. mah says:

    fraud, i withdrwan 100$ on january 2012 till now july 2012 i have not received fraud…..stay away frim them

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  4. Robert says:

    Proof of Eztrader Scam!!!

    http://www.youtube.com/watch?v=km7Y8ULJrUY&feature=youtu.be

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  5. Mike says:

    I did a lot of trading for a while and I was able to withdraw my money, but as soon as I decided to close my account I have been trying to get my money for several months.

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  6. Erik says:

    @Mike: Have u got your money back at all? I made a withdraw on december the 14th. Havent got anything back yet. They keep telling me it will be approved within a few days but they are obviously lying.

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  7. Jeff says:

    I’ve tried to get my money and they ignore my requests and hang up on me when I question it.

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  8. Ben says:

    I think you should update your rattings. About 8 of the trade platforms you ratted are being shown the door by Italy,them along with about 16 others. Your rattings seem to be about 5 years behind. Update your rattings. Now days lack of info can have the same effect as being flat out lied to and scammed.

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  9. Linda Pineda says:

    made a $200 deposit and still dont get my money back since February. their phone service sucks! can never get an answer, leave voicemail don’t answer back. neither the spanish or the english option ever give you an answer. if u do get an answer by miracle, they say it should be approved by next week (bull***) been waiting for 2 months now and nothing! all ive gotten is an automated e-mail with the same thing: it takes about three days… someone should be getting together and making some sort of lawsuit to start getting our money back!!!

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  10. Sole trader says:

    I double what people say about eztraders stay away from them as you wont get your money back not even what you deposited, I made a withdwawal of £560 on 11/04/1013 now its 16/05/2013.

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  11. Mike says:

    I have been trying to withdraw my money and close my account with EZ Trader since Nov of 2012. I contacted them weekly without results. I will keep trying.

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  12. Hans says:

    Withdrawels are simply not coming through. Once your money is theirs, you aint gonna see it back. I found out that some of the names they use (John Davidson and Michael anderson) are two main characters of the movie Coffe, Tea or Me….. Surely there are better and less stressful ways to get rid of your money than Eztrader.

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  13. Richard says:

    Just try putting your money in and withdrawing it without any trades…..I did a long time ago and in truth I don’t think I’ll ever see it again. STAY AWAY FROM THIS FRAUD SITE

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  14. Me says:

    Absolute a scam. STAY AWAY!!! Still waiting for my money…. It’s FRAUD!!!!

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  15. Mark says:

    this is a scam – watch out they take our money and dont return

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  16. Dmitriy R says:

    I have “invested” $500 dollars with a $250 “signing bonus” and have played around with binary options for few months. My “advisor” kept pressuring me to deposit more cash without even giving me any promised “lessons” on how to successfully trade. Plus, when he lured me to get the $250 bonus he didn’t say that I have to trade 10 times that amount on EZ trader before I can request any withdrawals. So, I had to grit my teeth and trade for a while. I did go up to around $1500 and then started rapidly losing and finally meeting my quota at $710. I requested a withdrawal on August 25th and it’s already September 10th and after contacting them multiple times through the phone, email, or live chat I am always told that it will “only be a few more days”. I have a really bad feeling that my originally invested $500 are a lost cause. I wish I had never done business with them. Why does a deposit take 3 minutes, but a withdrawal 2 weeks with no hope on the horizon?

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  17. Dave The dog says:

    Absolute scam. Do not go near. They should be shut down.

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  18. EZTrader official respond says:

    Hi all,
    My name is rick Patterson and I’m an account manager in EZTrader.com.
    I am sorry to hear about your troubles with our platform. Please inform me about your details and I will check these issues. you can post it here or send me an email. Thanks.

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    • Alan says:

      Rick Patterson can you explain why it takes so long to return the funds? It seems that your company is just out to rip people off and give them a massive run around process. Michael Anderson, Chris Marlen, Brian, are all a bunch of liars.

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      • Rick Patterson says:

        Hello Alan
        I’m sorry if you had a bad experience with our platform
        please inform me about your details and I will check the issue

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      • Rick Patterson says:

        Hi Alan,
        I’m sorry if you had a bad experience with our platform
        Please inform me about your details and I will check this issue

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      • Rick Patterson says:

        Hi Alan,
        Please post your details here or send them to my mail – rick@eztrader.com. I will check this case.

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      • Rick Patterson says:

        Hi Alan
        Please post your details here or send them to my mail: rick@eztrader.com. I will check this case.

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  19. Alan says:

    STAY AWAY!! I am starting a class action lawsuit against eztrader. Please contact me if you would like to join.

    gilliams2@gmail.com
    subject – Eztrader

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    • Farooq says:

      Dear Alan, I am very happy that you are going take any legal action against. They are refunding my money as well.they are absolutely ripping off incocent people. Please help me……………

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  20. Rick Patterson says:

    I would like to comment on this review of our site, which, in my opinion, contains some inaccuracies and is a bit unfair: The main complain seems to be that EZTrader’s platform resembles gambling sites, but there is no real argument to support that.

    The reviewer says “high bonus offers and extremely low charging fees are suitable with casino gambling and binary options broker’s scams”. Well, that’s not a real argument… Just because something is good, it doesn’t necessarily means it’s a trap. The site is simply trying to be appealing and to provide its traders with attractive offers, which has nothing to do with gambling.

    EZTrader’s bonuses policy is one of the fairest in the market: In order to withdrawal a bonus you only have to trade 25 times the amount of the bonus, while other brokers usually ask for much more: 30-50 times the amount of the bonus, or 25 times the amount of the bonus combined with the transaction amount.

    Another inaccuracy in the review is where the reviewer says that the site lacks general asset information and trading times. EZtrader is actually one of the only sites that offer a comprehensive detailed description on each of its 100 assets: http://www.eztrader.com/en/assets.aspx
    Trading times are off course also listed on the site: http://www.eztrader.com/en/binaryoptions-guide/trading-hours.aspx

    Another comment I would like to make regarding this review, is that its grading system is a bit unclear. Although the review describes EZTrader as possessing of many assets and as having improved expiry times, the site’s score in that category is mediocre. The same goes for other categories such as commissions, deposits, bonuses & withdrawals. The reviewer acknowledges that the site provides a rather good terms and conditions, yet he gives mediocre scores.

    In conclusion, I feel that this review is doing injustice to our brand.

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  21. Rick Patterson says:

    Hi Alan,
    Please post your details here or send them to my mail: rick@eztrader.com. I will check this case.

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  22. Colin says:

    Hello Rick

    I think that your defense of your company and the issues you have tried to put right are all good except that you have not addressed the biggest complaint that people have which is that you do not return people’s money in a prompt manner when a withdrawal is requested.

    I requested a withdrawal on 22 Nov 2013 and it is now the 27 Dec 2013. Why does it take you so long to return people’s money. Its an honest question would you please give me an honest answer as to when I can expect my funds to be returned to me.

    I have tried to ask the same question on the live chat line and it seems that the live chat has been terminated by your JohnD in an effort to transfer me to “MichaelA” account manager. Looking forward to hearing from you soon.

    Regards
    Colin

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  23. Rick Patterson says:

    Hi Colin,

    The withdrawal is a process that can take time. It requires several approvals from different departments, mainly for being in compliance with the anti-money laundering (AML) and CYSEC regulations, and for ensuring the identity of the trader. After that, the money transferring company or even your bank can delay the transaction – for their own reasons. In any case, it’s not like we are using your money in that time, we can’t touch it.

    BUT, after saying that, and unless there was a special reason, a withdrawal process shouldn’t take over a month. Please send your details to my mail: rick@eztrader.com and I will check this issue and speed up the process.

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  24. Wayne says:

    I have been trying to get $2000.00 back from them since 8 August 2013.
    I have sent various emails requesting a withdrawal of these funds.
    I have had a couple of responses from EZTrader staff. But as of today I still have not received any money.
    Be very careful about giving them any money, as you will not ever get anything back.
    Wayne

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  25. Rick Patterson says:

    Hi Wayne
    Please post you details here or send them to my mail: rick@eztrader.com and I’ll check the issue.

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  26. Peter says:

    EZ trader is terrible!!
    Try to withdraw now for over 3 weeks, nothing happened.
    Sending money is done within 10 minutes off course.

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  27. Nick says:

    Beware!!! My withdrawal was made on December 2nd 2013 and today, I’m still waiting for the money… I’ve tried multiple times to send support enquiries as well as support chat sessions, with no success (and no response to my mails). I would NOT AT ALL recommend them!

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  28. Rick Patterson says:

    Hi Peter
    Please post you details here or send them to my mail: rick@eztrader.com and I’ll check the issue.

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  29. Wayne says:

    I had a problem for 8 months with EZTrader, not paying me a withdrawal. Aug 2013 until March 2013
    I found CySEC website, and sent them a complaint.

    This was their response.
    Dear Sir/Madam,

    Thank you for your email. Please note that, on July 24, 2012, the CySEC announced the following:

    “The Cyprus Securities and Exchange Commission (“CySEC”) announces that a new electronic system of complaints submission regarding regulated Cyprus Investment Firms (CIFs) and non-regulated Investment Firms (IFs) has been implemented today. The CySEC requests that the investors follow the procedure specified in the Electronic Complaint Forms, which can be found under the ‘Investors’ drop-down menu, in order to file a complaint.” (http://www.cysec.gov.cy/Downloads/English/Announcements/2012/General/Announcement%2007.24.2012%20regarding%20the%20electronic%20submition%20of%20complaints.pdf)

    As such, we kindly request that you submit your complaint on line by clicking on one of the links below:

    http://www.cysec.gov.cy/complaints_cifs_regulated_en.aspx (for complaints related to licensed CIFs)
    2. http://www.cysec.gov.cy/complaints_cifs_non_regulated_en.aspx (for complaints related to non-regulated entities operating through Cyprus)

    In the case that any of the above links do not work, please copy and paste the corresponding path directly into your browser.

    Regards,

    Complaints Desk
    Cyprus Securities and Exchange Commission (CySEC)

    27 Diagorou, CY-1097 Nicosia / P.O.Box 24996, CY-1306 Nicosia
    Tel. 22 506600, Fax. 22 506700
    email: complaints@cysec.gov.cy
    http//cysec.gov.cy

    EZTraders gave me my money in about 36 hours. After I told them that I was in communication with CySEC.
    So there you go, you can get something done about their unethical practices.

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  30. Solveig says:

    They will take all you have on your creditcard. They tried 10 Times’ to credit my card the same day I signed up. Strangely they said they would put my winnings on my card. Haha!
    My banc has taken over now. In my case its not a small fraud.
    They are asking for a photo of the backside of my card now…or else they can not pay me my money… You heared somethiing so stupid.
    No serious business does that to their clients.

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  31. Solveig says:

    The company that takes the money is YGM SERVICES LIMITED and for a reason we have laws.

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  32. Gerard says:

    Many complaints are about the slow withdrawal proces, but I found out that many times the actual trading price was not the same as the price at the trading moment. As said there was a difference and nevr in my favor!. I had a good and frequent contact with my account manager (John), but when I cam with this complaint I did not receive any reaction anymore. Finally I lost all my money. Stay away!!

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  33. Jacob says:

    Hi Wayne
    I’m sorry but your story sounds made up. 8 months for withdrawal? and until the 8 months has passed you’ve done nothing? come on man… that’s not realistic.

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  34. Rick Patterson says:

    Hi Solveig
    Yes, In order to make a withdrawal you need to send a copy of your driver’s license, passport, or ID. It’s needed for both verifying your account and to conform with regulation and anti money regulation laws.

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  35. Peter says:

    ### Warning – Possible Spam ### Good service in my language(dutch)
    And this site offers things what other sites don’t have at all.
    So for me a +.
    Cheers.

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  36. knoxville says:

    stay away. this is just a scam. easy to deposit, impossible to get your money back. Anyone knows that it is easy to make a payout. File a complaint at http://www.cysec.gov.cy/complaints_cifs_regulated_en.aspx and at your credit card company. companys like this must be stopped

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  37. Rick Patterson says:

    Hi Knoxville,
    Why do you think it’s impossible? Thousands of traders has already made smooth withdrawals. Have you tried and encountered problems? If you did, you can always send your details to my mail rick@eztrader.com and I’ll help you.

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  38. Matt says:

    EZtrader are an absolute scam. Rick you can defend them all you like but actions speak louder than words.

    I deposited £1000 and was offered a £500 bonus without me really being that interested, I made about 10 trades and lost £44. I decided this was not as easy as it had been marketed so decided I would withdraw my money.

    I sent a request for £956 and it has been ignore for 5 weeks. When I chased it I was told that my account manager needs to withdraw the bonus and everytime I speak to him he will only tell me to trade more.

    I rang again to day and was told that if I removed my bonus they would also remove the profits I made, but I didn’t make a profit I made a loss that has been removed from my initial deposit. But they are saying the are removing the profits but I keep the losses. Profit is not an individual concept it is an overall concept.

    By their reckoning I am only able to withdraw £828.

    My argument is that I did not use their bonus. I only used my investment, the only way I could have used their bonus if I made a trade larger than my initial deposit or I lost more than my initial deposit. Therefore I used my money and lost £44.

    Their interpretation of their own T&Cs therefore shows that the bonus does not give you an advantage it is a disadvantage because if they had not added the bonus I would have only lost £44 but because they gave me a bonus I didn’t really want or need I have actually lost £172.

    They claim that trades are actually made but you are just betting against them who are the house. They make money by taking an initial deposit then never give it back.

    If it is not a scam why has no one on hear posted to say ‘Rick has sorted their problem out’

    SCAM, SCAM, SCAM!!!

    Unless EZtrader want to prove they are not to everyone one on here.

    Matt

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  39. Rick Patterson says:

    Hi Matt
    You can forfeit you bonus at any time you want. If you started trading after getting a bonus, and then you want to cancel your bonus, of course all the profits you’ve made with that bonus will be removed as well. Otherwise what’s the point? everyone would just take the bonus, and If they will loose, they will ask to cancel their bonus and thus cancel their loses. The bonus does not give a “safe trade” (We offer that as well in some conditions, but that’s a different story), It’s a tool that can leverage your profits.

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  40. Top says:

    Hey,I have a very big problem. It’s about eztrader.com they have me ripped off for 26500 euro,
    The persons who are directly responsible for are John Davidson and David Parker. I’m beginning trading with them about a year ago I had 300 euro transfer and after a few trades I wanted to stop. But was soon thy called me, they said they were going to help me with trading. I had to transfer 2000 euros, I have done that and they get more my confidence. They asked if I could transfer an amount of 10000 euro because they needed it to trade safe, in this very procedure they have never asked to additional information such as a copy of passport or id. They have accepted my money without controling.
    My account manager John Davidson was going to teach me how to trade. But a month later I left for a year to Australia. I asked if there was no other way to secure my money until I came back. He asked me if he could trade with my money I found that not a bad idea. He said he would trade small quantities without too much risk to keep my account moving till I was back from Aussie . I saw no bath in it because I saw that he made a profit. The first weeks, after a month he asked for an extra 10000 euro and that is the time when they take all my money, without any signal or warning to me they have lost all my money in a week thy lost 26000 euro I never give permission to trade all my money.After a few emails that I send to ask how that was possible , because contacting me they found not necessary after losing more than 26000 euro. They said it was because of the crisis, I asked why they don’t asked me if they could continue to trade when they had lost the first 10000.
    After many emails and phone calls where I ask to help me I never got a reply. After a few months I finally get a phone where in they said they were going to help me.David Parker would help me further because he had a special system whereby they never could lose so much money again . But they needed again 10000 euro to recover my funds. I had them given 4000 euro. They had lost the same week everything again , everything was gone. John says that David has frequently traded and vice versa I got totally no contact with one of two after thy lost my money again, I filled a complain to the company and it taked weeks before I get a answer thy say that is true thet john Davison was trading with out responsibility but that thy not can help me and that was the end of it

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  41. Casey says:

    eztrader works perfect with me.
    In the begin I get help of a broker.

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