According to our team’s research, 23 Traders does NOT provide demo accounts. We also found out that they do not rate highly in Google Trends and there is no significant data about them. As an alternative we selected the top brokers that provide a Demo account for free.
Top10BinaryDemo cannot confirm that 23 Traders can offer you a demo account. In order to avoid risking real money you can Proceed to an Approved Broker with Demo Account OR choose from the Top Demo Brokers:
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23Traders – Reliable Broker Or Scam?
There are two main divisions in the field of online trading that people divide in – they are either using binary options systems or binary options brokers in order to commence personal trading process online. Both types of dealing with online investment are quite popular and therefore there are many available products on the market that offer such services.
Unfortunately, the presence of scams and fraudulent platforms is a disturbing factor that makes people be extra cautious when it comes to choosing some specific broker or robot to deal with. Here and now, we are going to review the new edition to the online brokers’ family – 23 Traders brokerage. In the following text you will get information on whether this new trading platform is legit or scam.
First Look At 23Traders Broker
23Traders is presented as a leading, regulated and licensed, online trading binary options broker. Apparently, it was created and developed by traders, for traders. The original team is a collaboration between 23 traders from around the globe, of all ages, genders and trading experience.
Their alleged purpose is to create the ultimate online trading environment which will respond to the needs and preferences of all kinds of online investors.
In addition, it is stated that the whole work of the team behind this product aims to provide four main advantages to their customers and trading partners: secure trading environment, reliability, innovative trading tools and educational support.
The truth is, that all these things are really good and would be useful if they are available. However, a quick check into the official website of this broker shows that all the mentioned special features are only mentioned and promised, but not actually provided. The greatest disappointment is the fact the innovative trading tools don’t even offer trading signals to traders – just old news of past financial events and changes.
Is 23 Traders Scam Or Legit?
We are not able to say for sure whether this broker platform is scam or not, but there are some disturbing facts we were able to find. First of all, it is obvious that the online trading platform is not regulated by any authority. However, they claim to be regulated, but this is clearly a lie. In addition, 23Traders does not have any type of demo account to offer to online traders. And this is something very important to all the people who don’t have previous trading experience and who want just to practice and improve their skills.
Finally, there is no positive feedback available on the trading platform in the Internet space. The lack of information and users’ testimonials is a negative sign, when it comes to reliability and legitimacy factor. Therefore, as for now, we cannot say that 23 Traders is a scam but we are not going to recommend it to traders. They should better find a broker that is proven to be legit, authentic and profitable.
Account Types Available On 23Traders
There are 6 available account types, this broker offers to traders. The bad news is that unlike the most other brokers, this one has set a really high initial deposit minimum. The amount is $1,000 which is needed if you want to use this brokerage. The more upgraded account you choose, the higher the initial deposit amount becomes. This is described as follows:
- Basic – $1,000 minimum investment required.
- Bronze – $5,000 deposit needed. 10% match-up bonus provided.
- Silver – $20,000 required. There is a 20% welcome bonus.
- Gold – $30,000 initial deposit amount + 50% match-up bonus available.
- V.I.P. – $50,000 needed. Also, the bonus here is 90%.
- Elite – $100,00 deposit required. The bonus is 100%.
Final Words About 23Traders
Taking into consideration all the things we were able to find, related to this brokerage and its performance, we are definitely sure that there are many better choices people could take advantage off. The lack of regulation, the high initial deposit amount and the absence of Demo trading account are some very important things, that should be considered as disadvantages. Also, there is not a single proof, confirming the legit status of this binary options broker. Therefore, we advise people to stay away from it and find another income-increasing partner.
After our research we concluded that 23Traders does not provide a demo account.
The lack of practice account and risk free trading makes this broker unsuitable for traders who want to learn how to trade without losing their investment.
I am David Raines, a Binary Options trader with years of experience in online trading. I write reviews of Binary Options Brokers, Auto Trading Software and Signals Providers.