BuzzTrade Review

Rating: 

The Buzztrade binary broker is relatively fresh on the online trading market. They began their operations in September of 2015 and have stirred up quite a bit of interest from traders. They are located at 16 Spyrou Kyprianou Avenue, 2nd floor, Office Number 201, Limassol Cyprus. They are owned by AirFrance Pro Ltd and are regulated by the most well known regulation firm in Cyprus, CySEC. Before you register with them, read our review to find out if Buzztrade is a reputable broker or really the Buzztrade scam.
BuzzTrade Review
Min. Deposit: $250            Demo: N/A

Platform: Custom            Bonus: N/A

Regulation: CySEC            US Clients: Yes

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BuzzTrade Overview

Buzztrade Customer Support Review

Buzztrade offers customer support via email, telephone and an online form on their website. They do not an offer live chat service and that means slow response time which is a major problem with the Buzztrade broker.

Because clients can often times encounter issues while trading or trying to withdraw their earnings, high quality customer support is essential to the success of any broker.

It seems as Buzztrade’s opinion is the same as this. Their customer support is quite frankly deplorable.

Buzztrade Customer Support Review

For example, when you submit a query using their online form, you do not receive any response whatsoever. If you do receive a response, it is most likely 3 weeks later, long after you have either solved the problem or moved on.

This problem is also evident in their response time to emails however they often times take more than a month to respond to emails.

We wondered if having a live chat service would alleviate this problem however it seems that the Buzztrade binary broker would simply take their disregard for client issues to the live chat service as well.

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BuzzTrade Review: Accounts

Five account options are offered by Buzztrade and even though they seem attractive on their website, when you actually sign up for one of them, you realize that they are a letdown.

BuzzTrade Review: Accounts

The first account type is the Newbie account which carries a minimum deposit of $250. A 25% welcome bonus is offered along with a training session once a week. You are also said to receive signals twice a day with 24/6 customer service. The sad reality is that, these are merely claims. The junior personal account manager is highly ineffective and the daily market news you are said to receive are almost never useful.

The Mini account has a starting deposit of $1000 and a 30% welcome bonus. The training sessions are twice a week instead of once, though there is no improvement in terms of content. You are said to receive signals four times a day and those are the only difference between the Newbie and Mini account.

The Classic account has a few differences when compared to the Newbie account. These are the $2500 starting deposit, 35% welcome bonus, signals five times a day, daily phone call and up to 25% 5 bonus protected trade.

The Pro account has a few notable features that are different from the accounts before however that does not mean an improvement in service which is a problem. The minimum deposit is $5000, training sessions are three times a week, the welcome bonus is 40%, the signals are unlimited, there is a senior account manager and up to 30% 5 bonus protected trade.

The VIP account carries the highest minimum deposit at $50,000. The training sessions are four times a week and the welcome bonus is 50%. Along with those, you have access to a webinar, market analysis (which is not helpful at all), and up to 35% 5 bonus protected trade. It’s not that different from the Pro account.

Buzztrade Platform Review

You can only trade with the Buzztrade broker using the Airsoft platform which was created by their parent company, AirFrance. How it works is that you are allowed to determine when your options expire. The expiration times range anywhere from 15 minutes to 6 months.

The platform like the broker is new and not very impressive. A major drawback is that the it doesn’t offer any automatic signals. This is a shame as automatic signals would make trading easier for you, saving you time while allowing you to increase your likelihood of making successful trades and in the end increasing your profits.

There is also another major issue with the Buzztrade binary broker and their AirSoft platform and that is the premature expiration of options. For example if you set an option to expire in 30 minutes, it somehow expires in 20. This causes your trade to not go through as planned and you end up losing money.

Their platform may be new but it is impressive in any meaningful way.

BuzzTrade Review Conclusion

Due to their short time on the financial scene, the Buzztrade broker has not gotten a real reputation as yet but if they continue like this, the one they will get will be a bad one. Do yourself a favor and avoid this broker. You will only end up losing in the end.

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Conclusion
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BuzzTrade Review
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