Open Trade is a CFD broker whose domain was registered on December 15, 2023. This broker primarily offers investment services in trading markets such as forex, cryptocurrencies, precious metals, commodities, and funds to retail and institutional clients. It does not provide services to countries and regions where doing so might violate local laws or regulations.
Corporate Registration Information and Regulatory Status
Public information on the Open Trade (www.opentradelimited.com) website shows that the services provided by this broker are regulated by financial authorities under New Zealand jurisdiction. However, its terms of service page states that any litigation arising from the terms of its website should be conducted exclusively in Australian courts.
Upon verification, a company named OPEN TRADE LIMITED was found in the New Zealand Companies Register, but it has been deregistered. The New Zealand Financial Service Providers Register did not have a company named Open Trade registered. The Australian Securities and Investments Commission (ASIC) lists three companies with similar names, all of which are deregistered.
Therefore, Open Trade is effectively an unregulated scam website.
Account Registration Process
To open a trading account with Open Trade, visit their official website. Click "REGISTER NOW" on the homepage or "Join Now" in the top right corner to access the account registration page. Fill in your name, email address, and other personal information as required, set a password, and submit the form. After account verification, registration will be successful.
Investment Plans
Open Trade offers three different investment plans: Basic Plan, Executive Plan, and Advanced Plan.
Basic Plan:
- Trading Period: 4 days
- Minimum Deposit: $50
- Maximum Deposit: $5,999
- Referral Bonus: 10%
- Enhanced Security
- 24/7 Dedicated Support
- Daily Return Rate: 4%
Executive Plan:
- Trading Period: 5 days
- Minimum Deposit: $6,000
- Maximum Deposit: $14,999
- Referral Bonus: 10%
- Enhanced Security
- 24/7 Dedicated Support
- Daily Return Rate: 6.5%
Advanced Plan:
- Trading Period: 5 days
- Minimum Deposit: $15,000
- Maximum Deposit: Unlimited
- Referral Bonus: 10%
- Enhanced Security
- 24/7 Dedicated Support
- Daily Return Rate: 8%
Trading Platform:
Open Trade offers a proprietary trading platform, but it is only available on the web, and no detailed description is provided.
Deposits and Withdrawals:
Open Trade supports deposits and withdrawals through various cryptocurrencies.
Conclusion:
Traderknows reminds investors that Open Trade is a fraudulent broker that deceives investors under the guise of high returns, as it lacks any regulatory approval. It is advisable for investors to choose brokers with transparency, strong regulation, and good reputation to avoid unnecessary financial losses.
Currently, this broker is labeled as "Scam" on Traderknows.
