Poseidontradings.com Review Is Poseidon Tradings Legit Or Scam

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Poseidontradings.com Review: Is Poseidon Tradings Legit Or Scam?

Poseidon Tradings Review: this is the name of a binary trading options firm that offers Forex as well. Is poseidontradings.com a scam or a legit firm?

The website of this company offers not much by way of details and we find this troubling. First it claims that its binary option robot gives users “up to 90%-win rate”. The page’s opening part advertises it as a binary trading robot.

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Poseidon Tradings is based in the UK and the address it provides is:

8 Harbour View, Sunderland, SR6 0NL, England.

Then, the next part talks about Forex Trading, as well as ETFs Trading and stocks and indices. Poseidon Tradings claim to offer goo risk management that can help inexperienced traders. It is new as it states that the company was founded in 2020.

Trading Platform of Poseidon Tradings

It is not mentioned what trading software is made available to all their clients. This is an unsettling find and definitely a red flag.

Legit brokers are known to offer at least the popular MetaTrader 4 trading platform.

This platform is a very good sign along with MT5, as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.

Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.

Trading instruments offered to traders includes: Forex, 10 million digital options, ETFs, and 7485 stocks. These are unrealistic and less informative details that the company should fix.

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The maximum leverage offered by Poseidon Tradings is not stated, neither did we find anything on spreads as well.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

How Poseidon Tradings Work

We find nothing on how the supposed robot works. There is no clue given to traders on how the binary options auto trading will occur. For a company promising as high an accuracy as 90%, it should be able to give some worthy explanations.

Deposit and Withdrawal methods on Poseidon Tradings

There is no mention of the methods via which clients are to fund their accounts with this company. Another dent on their image again.

This is because standard and legit companies make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on.

A minimum deposit of $200 is required to start trading with this broker and this is affordable. There will likely be rules applied on withdrawal of accounts with bonuses. It is said that a 40% to 70% bonus is given to clients.

We were able to conclude that since all deposits come with bonuses, every client that starts a trade with this broker is automatically tied to the rules we hinted at in the paragraph above.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Is Poseidon Tradings Licensed?

No! Poseidon Tradings is not Licensed. It claims that it is registered under the ASIC, which is an Australian based commission. All UK based forex companies are within the jurisdiction of FCA instead. Though, it is not even registered to the ASIC as it claims.

The disclaimer page also mentions that the company is “solely for informative means”. Stating that it is not an authority on financial issues. This shows that no fund should be paid to this company at all.

Support

To contact the customer care team, call: +441604954892 and email: [email protected]

Conclusion

Poseidon Tradings is not a licensed company. It does not have any authority to handle finances as is stated in its disclaimer policy. Information found on the page are intended to mislead and traders should avoid it.

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Poseidon Tradings review – Is poseidontradings.com scam or good forex broker?

Poseidon Tradings says to be a broker that offers binary options, as well as CFDs on currencies, shares, commodities and indexes with a web based platform and welcome bonuses of between 40% and 70%.

Account type Min. deposit Max. leverage Spread s
$200 n/a n/a
Silver Account $1000 n/a n/a
Gold Account $5000 n/a n/a
Platinum Account $10 000 n/a n/a

The broker also says to be based in the UK, to be regulated in Australia, and quotes a company history dating back to 1965.

In reality however, this is just an anonymous website – we are not even sure about the name of the company that runs it – and as it turned out they are not regulated by the Australian Securities and Investment Commission (ASIC). For more information about the scam please read the following review.

Poseidon Tradings Advantages:

We usually try to come up with some positive sides about the broker we review, but in this case clearly there are non, except perhaps for the minimum deposit requirement – 200 USD, which sounds acceptable.

Poseidon Tradings Disadvantages:

Anonymous website, no license, falsely claims to be regulated by ASIC

As we already noted the Poseidon Tradings website is completely anonymous. Sure they have some addresses in the UK, but apart from that they do not disclose the name of the company behind them, although in their presentation they boost that their corporate history goes back to 1965.

Also, as we checked the registers both of the Australian Securities and Investment Commission (ASIC) and the Financial Conduct Authority (FCA) in the UK, there was no trace of Poseidon Tradings, so basically we talking about an anonymous, unregulated website that deliberately tries to mislead traders in an apparent attempt to scam them.

So here you may also check our list of brokers regulated in Australia:

Poseidon Tradings is an obvious scam. They are completely anonymous, lie about their regulatory status, falsely claiming to be regulated by ASIC in Australia, and offer managed accounts, while acting as market makers, which is a typical scam technique. So our advise as usual is to trade only with brokers, holding legit licenses by a well known financial regulator such as the the FCA in the UK, ASIC in Australia or the Cyprus Securities and Exchange Commission (CySEC).

Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

Poseidontradings.com Review: Is Poseidon Tradings Legit Or Scam?

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