- Why you should not confide in this broker
- Massive deposit does not sound enticing
- No demo account available
- FAQ Section unavailable
- Free signals are not reliable
- Customer support is disappointing
Broker Official is one of the latest forex brokers. This brokerage is not regulated so it means that there is a risk that you will end up losing your investment if you sign up with Broker Official.
Broker Official offers about four different account types. This includes the Basic, Advanced, Professional and Ultimate account. Now, the problem is that all the account types require a huge deposit amount. If you go for the basic account, then you will have to deposit about $1000.
If you decide to go for the advanced account, then it requires a deposit of about $5000. For the professional account, a deposit of about $10,000 is required, and the ultimate account requires a deposit of $25,000. This means that only the filthy rich traders can think along the lines of making such a huge deposit.
Now Broker Official does not offer a demo account. This means that you cannot the risk-free trading facility. If they are asking for such massive deposits, then it is essential that the demo account should be there so that the trader is confident of the fact that he is spending his money in the right direction.
If you have your hopes pinned on the FAQ section, then the bad news is that Broker Official does not offer an FAQ section. There is no denying the fact that the FAQ section is the lifeline of a trading platform because most of the questions are answered through the FAQ. Thus the absence of the FAQ section is a major drawback.
Broker Official seems to be offering free signals. However, you should not get carried away by this offer. The reason is that there is not guarantee whether the Official Broker signals are reliable or not. What you need to keep in mind is that the signals can just give you a rough direction. There can never assure you that your trades will be profitable at the end of the day.
Do not pin your hopes on the customer support service of this broker because the customer support service is not reliable at all. They are not responsive whether you contact this broker through email or phone. Now, this is a major red flag alert because if you go for an unreliable broker, then your trading career is doomed for all times to come.
Now, all these aspects are enough to put off a potential trader. It is advisable that you should not put your trading career on the line. Think along the lines of opting for a more reliable broker. The viable approach is that you should think before selecting your trading broker. This way you will not have to deal with any losses at the end of the day.
Do not get carried away by the fancy interface of Broker Official because all this is utter deception.