Only4trade: full review of terms, analysis of reviews
Analysis of Only4trade Company Features
Many fraudulent brokers use standard scam schemes, but decorate their deceit with fake facts, incredible statistics, and emphasize the benefits of cooperation to the maximum. Only4trade company also presents itself as an international enterprise, promising success in trading to everyone. However, even at first glance, it becomes obvious that this is just a trap. Even hastily written positive reviews cannot convince otherwise. In the following exposition, we will elaborate on the signs that distinguish a typical scam under the Only4trade umbrella.
Data Obtained about Only4trade Company
Only4trade’s official website claims that the company has a flawless history and warmly welcomes everyone, from beginners to experienced traders. The reliability of this broker is questionable, as the website only4trade.com was launched at the end of February 2021. This organization is a novice that cannot be trusted!
There is no legal address on their website. Phone support and social media communications where traders could share their opinions are also absent on Only4trade. The suspicious broker’s website only features an email and an online chat with a tiresome bot named Edward. Scammers do not aim to assist users; they are focused only on obtaining personal data of potential victims to later harass them with persistent calls and email spam.
There is no information about licensing and regulation on the fake broker’s website. However, on several internet resources simultaneously, there are laudatory reviews about Only4trade, stating that the company obtained a license from a regulator called “Europe Regulation Broker” from Mauritius (document number W093012272). In reality, such a regulator does not exist! This area is handled by the FSC (Financial Services Commission).
Also, in unreliable reviews, the phone number +7 499 0092750 is mentioned. Upon checking, it was found that scammers from Worldf1n call from this number. Traders in reviews accuse this firm of extortion and deposit leaks.
What Only4trade Offers?
According to claims, Only4trade offers access to trading:
- currency pairs,
- indices,
- metals,
- stocks,
- futures,
- energy resources.
The platform does not have a demo account; instead, they immediately suggest opening a real account for trading (Basic, Gold, or Platinum). No specifics regarding the characteristics of these contracts are presented, and even the scammers from Only4trade do not mention the minimum deposit amount. Only the following is known:
- Basic is recommended for beginners,
- Gold is preferred for experienced traders,
- Platinum, as claimed by the company, is attractive to large investors.
It can unequivocally be said that scammers from Only4trade will individually approach each victim and only then propose investing.
Reviews about Only4trade
According to Yandex.Wordstat data, searches for Only4trade in the search engine were made approximately 600 times in the last month, with reviews about this company attracting the main attention of users.
It is not surprising that phone scammers decided to conduct a large-scale campaign for their new project and acquired numerous praising reviews:
These reviews are created with the help of reviews that are also ordered. They are identical, indicating the same author.
Real reviews from Only4trade customers do not exist due to the short period of this firm’s operation. We will monitor the situation and supplement the reviews when they become available on the Internet. If you have had experience working with this fake broker, please share it in the reviews to warn others against the scam!
Deception Method
Only4trade uses a standard deception scheme aimed at attracting beginners. Scammers will cleverly lure the victim and gradually persuade them to invest. Trading in this company is offered through MT4. The platform itself is not bad, but scammers invite traders to download the software directly on their platform! The trader downloads not MetaTrader 4 but malicious software, allowing fraudsters to manipulate trades and move deposits in their favor.
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Final Conclusion on Only4trade
Only4trade is a typical scam with fake reviews. The company is fake and only exists in the virtual world; they have no documents to provide brokerage services. Dealing with these scammers puts your savings at risk. The chances of getting them back are minimal.
Overall, my experience with Only4trade was positive. I found their terms to be fair and transparent, and their platform easy to use. The analysis of reviews also provided valuable insights into the experiences of other users. I would recommend Only4trade to those looking for a reliable trading platform.