Can we trust newly established broker?

I am a new trader, and I keep asking my colleagues who trade binary options for suggestions and recommendations. Then a new broker like Optionstars came up. I checked and they offer me a demo account which gave me allowable time to explore the platform, and I think I like it. Do you think is it okay to give this new broker a try or should I'll be looking for something better?
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Comments

  • The_Geek_MHThe_Geek_MH Posts: 417 mod
    look for something better, new under the radar brokers are no to be trusted.
  • TheRedBaronTheRedBaron Posts: 3
    edited October 2016
    I checked Optionstars website and it looks like an unregulated white-lable broker. When there are so many solid regulated platforms out there to choose from, why risk it?
  • The_Geek_MHThe_Geek_MH Posts: 417 mod
    thomasd said:

    brokerofficial.c0m is a good option for you.One of my closest friends told me about them and although they’re new in this I started to trade with them two months ago, the platform is really simple and I'm glad with my profit for now.

    the same goes for this broker too, there are too many good brokers working hard to keep up with CySEC and EU regulation to waste your time with a broker like this one.
  • markbaxtermarkbaxter Posts: 45
    edited November 2016
    @Binarygail10 My short answer is NO...!
  • Rather don't try them, we see so often complaints about scam from untested and unknown brokers. Go for a brokers that are sorted by traders from this forum as a *good to go*.
  • renar_foxrenar_fox Posts: 20

    i've been trading with trader vc recently.. i don't think they can be defined as under the radar, but yeah, they're new. anyways i'm ok with them so far.. hope to not get disappointed again. i'll come up with a detailed review about them soon once i make more withdrawal requests.

    What is vc? Could not find anything about them.
  • marcusfmarcusf Posts: 4
    you can obviously go ahead and try - you may score big time or lose - that's your choice. if you're a beginner, and you're cautious as for every step you make and every dollar you put in, i'd recommend going for something familiar with a proven reputation. think of it as any other product you have and will ever purchase - but with a bit more importance to reconsider, since it involves investing and giving out personal info.
  • kudorsLVkudorsLV Posts: 36
    Offcourse i would not risk it myself and im telling you no to. BUT.. There is a question. Then how new broker can get a good reputation if everyone is sceptical about new brokers.. If no one tries them..
  • The_Geek_MHThe_Geek_MH Posts: 417 mod
    that's the catch 22. That's why regulation is important, it's a way to vet the new brokers.. if they are regulated they deserve the benefit of the doubt, if not why bother?
  • halamsjahalamsja Posts: 31
    Dear Binarygail:

    Agreed with Kudors.. Sometimes if all traders avoiding the new brokers then how come the new brokers could gain for their reputation???? Regarding Regulated or NOT REGULATED, also not GOOD warranty that they will honor when things go UGLY... For example, AYREX.COM is not regulated broker yet now they gain more reputation and so far sincere on their deposit and withdraw process.. So many as well the example of REGULATED brokers which are good but later on they RUN AWAY like rats..

    So I would say why not give a little chance to the new brokers first on the demo account then when you are comfortable you may proceed with LIVE account but with very little investment like US$100 to MAX US$500 so that you may try their deposit and withdraw process.. When you gain profit and so far the new broker platform is honest and fast execution then you may add up the investment for another US$1,000-US$3,000 then test for their withdraw process.. You can do this till you reach the level of comfort on this broker..

    Last point, please share your experience with the community by telling us about this broker either BAD or GOOD, then you will help not only yourself, the broker but also the other BINARY OPTION traders around the world..
  • bsbZenbsbZen Posts: 76
    MarkIay said:

    No it is very tough to trust a new broker . But I am trading with a broker called Trade12 is an excellent broker. Their security level is much high. The security of their clients’ funds is their top priority. With Trade12, you can be absolutely assured that your deposits are secured in every possible way. There are some of the methods they take to guarantee funds protection.

    The Company maintains operational and client bank accounts with reputable international banking institutions. They never create any problem while withdrawing money and take no set up fees. That’s why I trust my broker.

    Really? Then how would you explain this: http://www.forexpeacearmy.com/community/threads/trade12-scam.44220/

    Or when you mean deposits being secured you mean from clients.

    Team blueskybinary.com
  • MalvridMalvrid Posts: 34
    I think new brokers should be given a chance, although it should be done with care, starting with the demo account and gradually advancing to cent, and then going on to a real deposit, if everything goes well. But if there's something you don't like about it or something that makes you doubtful about it, then you shouldn't continue trading with this broker.
  • BossBoss Posts: 26
    In any case, it's up to you, but you should test out the broker yourself. I personally don't really trust new brokers, working experience is the most important thing for me.
  • sumeesumee Posts: 5
    I would say, give the benefit of the doubt, as long as previous traders have used the new broker recently and had good testimonial about it. Use a demo account for a start. If in doubt, then don't try.
  • Blue Sky BinaryBlue Sky Binary Posts: 153 ✭✭
    MarkIay said:

    No it is very tough to trust a new broker . But I am trading with a broker called Trade12 is an excellent broker. Their security level is much high. The security of their clients’ funds is their top priority. With Trade12, you can be absolutely assured that your deposits are secured in every possible way. There are some of the methods they take to guarantee funds protection.

    The Company maintains operational and client bank accounts with reputable international banking institutions. They never create any problem while withdrawing money and take no set up fees. That’s why I trust my broker.

    Really? Then how would you explain this: http://www.forexpeacearmy.com/community/threads/trade12-scam.44220/

    Or when you mean deposits being secured you mean from clients.

    Team BSB
    Blue Sky Binary - Research, Education & Technology. Signal Hive - The No.1 Binary Signals Marketplace.

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