Edgemadexoption review – 5 things you should know about edgemadexoption.com

Beware! Edgemadexoption is an offshore broker! Your investment may be at risk.

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Edgemadexoption presents itself as a regulated and award-winning forex broker. But this website is actually full of evidence to the contrary. Edgemadexoption can’t help you profit from the financial markets because its sole purpose is to cheat you out of your money. In this review, we will look at the evidence for this and offer you more credible alternatives.

Edgemadexoption Regulation and safety of funds

When you visit the website of a legitimate broker you can expect to find clear and detailed information about the company that owns and operates it, where it is based and what regulatory regimes it is subject to. Licensed financial services providers are also required to provide a comprehensive set of legal documentation.

Edgemadexoption claims that it is based in London and that it holds licences from regulators in the UK, Cyprus, the US, as well as being certified by private regulatory institutions such as the Financial Commission.

But here we run into the first problem – Edgemadexoption is completely anonymous. Nowhere is the name of the company that owns and operates this website mentioned. The text of the Terms and Conditions is too short and generic and does not meet the standards for such legal documentation. Under these circumstances, there is no reason to believe that Edgemadexoption is indeed an authorised financial services provider.

A search of the records of the relevant regulators shows that there is no licensed forex broker using this brand and domain.

On the contrary, we find explicit warnings that Edgemadexoption is a scam.

If you intend to invest in financial instruments, you should beware of the many fake brokers lurking online. Always check carefully whether the broker you choose really has the necessary licences. There are numerous benefits to working with a company that is truly authorised and supervised by a regulatory institution such as the UK’s Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Commodity Futures Trading Commission (CFTC) in US or Australian Securities and Exchanges Commission (ASIC). Clients of these brokers receive protections such as negative balance protection and segregation of the client’s funds from the broker’s funds.

In the EU and the UK, brokers must also participate in guarantee schemes that cover a certain amount of the trader’s investment if the broker becomes insolvent. These guarantees amount to up to 20 000 EUR in the EU and 85 000 GBP in the UK. However, the likelihood of such a bankruptcy is low because regulators also have significant net capital requirements that companies must maintain – EUR 730 000 in UK and Cyprus, AUD 1000 000 in Australia and at least 20 million USD in the United States.

Edgemadexoption Trading software

After signing up for an account, it becomes clear that the Edgemadexoption does not have any trading software. This shows that this website is a low-effort scam, targeting people who don’t know what to expect from a genuine forex broker.

If you use the services of a licensed broker, you will get the opportunity to use established software with advanced features and versions for all types of devices and operating systems. The most widely used trading platforms in the industry are MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

These platforms have established themselves as industry standard because they offer a wide range of features, including a variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.

Edgemadexoption Trading instruments

Edgemadexoption claims to offer trading in forex, commodities, cryptocurrencies and binary options. In addition to not having the licence and software for this to be true, binary options trading is prohibited by all regulators from which Edgemadexoption claims to have a licence. Further, the UK FCA prohibits trading in crypto derivatives. So these claims are further proof that we are dealing with a fraud.

Edgemadexoption Spreads and cost of trading

Legitimate forex brokers offer a variety of trading account types tailored to the needs of clients with different capital and investment intentions. These brokers also provide clear and detailed information on trading parameters – leverage, spread, commissions, order execution method, etc.

Such information is completely missing from the Edgemadexoption website. Instead, we see a list of investment plans promising guaranteed returns.

A genuine broker will not and cannot promise you guaranteed profits. In fact, licensed companies are obliged by regulators to warn their clients about the high risk of losses when trading financial instruments.

Edgemadexoption Maximum leverage

High leverage creates the opportunity for more significant profit, but correspondingly increases the risk of sudden and excessive losses. All leading regulators therefore restrict leverage for retail traders.

If you are nevertheless willing to take the risk of high-leverage trading and want to take advantage of bonuses, promotions and prize games, the best option is to use the services of offshore brokers operating under an established brand.

Edgemadexoption Deposit and withdrawal methods

We weren’t at all surprised that the only payment method accepted by Edgemadexoption  is Bitcoin. Cryptocurrencies are the payment method of choice for most financial scammers. The reason for this is that on the one hand cryptocurrencies provide a degree of anonymity and on the other hand they do not allow the defrauded person to ask for a refund.

Legitimate brokers typically offer clients a wide choice of transparent payment methods, including bank transfer, credit/debit cards and established e-wallets such as PayPal, Skrill or Neteller. If you’re interested in legitimate brokers that accept digital currency payments alongside conventional methods, check out this list.

Edgemadexoption Minimum deposit

Edgemadexoption gives two different versions for the minimum investment – 100 GBP or 500 USD. You should know that for an amount as low as 5 or 10 USD you could open a trading account with a truly licensed broker.

Edgemadexoption Withdrawal requirements

Since Edgemadexoption does not provide proper legal documentation, it is unclear what traps the fraudsters may have set. Typically, fake brokers make withdrawing money impossible through huge fees and impossible-to-fulfil traded volume conditions.