Pattern Trader Review – Is it Scam? – CFDs and Real Cryptos
Introduction
Pattern Trader is an online trading platform that offers access to CFDs and real cryptos. In this review, we will take a closer look at Pattern Trader and assess whether it is a scam or a legitimate trading platform. We will also examine the features of Pattern Trader, its pros and cons, and compare it with other trading platforms. Additionally, we will review the trading options available on Pattern Trader, including CFDs and real cryptos.
What are CFDs and real cryptos?
CFDs, or Contracts for Difference, are financial derivatives that allow traders to speculate on the price movements of financial assets without owning the underlying asset. Real cryptos, on the other hand, are actual digital assets that can be bought and sold on a cryptocurrency exchange. Both CFDs and real cryptos are high-risk investments that require careful consideration before investing.
Background Information
Pattern Trader was founded in 2016 and is headquartered in London, UK. The platform was created by a team of financial experts and software engineers who aimed to simplify online trading and make it accessible to everyone. Pattern Trader is now available in over 150 countries worldwide and has become a popular choice for both novice and experienced traders.
Pattern Trader Features
Pattern Trader offers a range of features designed to help traders make informed trading decisions. These features include:
Trading platform overview
Pattern Trader's trading platform is user-friendly and easy to navigate. It provides access to a range of trading tools and indicators, as well as real-time market data.
Trading tools and indicators
Pattern Trader offers a range of trading tools and indicators, including technical analysis tools, risk management tools, and automated trading tools.
Market analysis and research resources
Pattern Trader provides traders with access to a wealth of market analysis and research resources, including news feeds, market analysis reports, and economic calendars.
Customer support
Pattern Trader offers 24/7 customer support via phone, email, and live chat. Traders can also access the platform's extensive knowledge base and FAQs.
Pattern Trader Pros and Cons
Here are some of the advantages and disadvantages of using Pattern Trader:
Advantages of using Pattern Trader
- User-friendly trading platform
- Access to a wide range of trading tools and indicators
- Extensive market analysis and research resources
- 24/7 customer support
Disadvantages of using Pattern Trader
- Limited range of trading assets
- High fees and charges
- Limited educational resources
Comparison with other trading platforms
Compared to other trading platforms, Pattern Trader offers a competitive range of trading tools and resources. However, its fees and charges are higher than those of many other platforms, and its range of trading assets is more limited.
Pattern Trader Scam or Legit?
There have been some accusations that Pattern Trader is a scam. However, there is no concrete evidence to support these claims. The platform is regulated by the Financial Conduct Authority (FCA) in the UK, and its team of financial experts and software engineers have a strong track record in the industry.
Pattern Trader CFDs Review
CFDs are high-risk investments that require careful consideration before investing. Here are some of the advantages and disadvantages of trading CFDs:
Advantages of trading CFDs
- Access to a wide range of financial assets
- Ability to profit from both rising and falling markets
- Leverage can increase potential profits
Disadvantages of trading CFDs
- High risk of losing money
- High fees and charges
- Leverage can also increase potential losses
Comparison of CFDs with other types of trading
Compared to other types of trading, such as buying and holding stocks or investing in mutual funds, CFDs offer a more flexible and potentially profitable option. However, they also come with much higher risks and fees.
Pattern Trader Cryptos Review
Real cryptos are another high-risk investment that requires careful consideration before investing. Here are some of the advantages and disadvantages of trading real cryptos:
Advantages of trading real cryptos
- Potential for high profits
- Access to a range of different cryptocurrencies
- Decentralized and secure technology
Disadvantages of trading real cryptos
- High volatility and risk of losing money
- Relatively new technology with a lack of regulation
- Limited acceptance as a mainstream currency
Comparison of real cryptos with other types of trading
Compared to other types of trading, such as buying and holding stocks or investing in mutual funds, real cryptos offer a more exciting and potentially profitable option. However, they also come with much higher risks and fees.
Pattern Trader Account Types and Fees
Pattern Trader offers three different account types: Basic, Silver, and Gold. Here is an overview of the fees and charges associated with each account type:
Basic Account
- Minimum deposit: $250
- Spreads: From 3.0 pips
- Commission: None
- Withdrawal fee: $30
Silver Account
- Minimum deposit: $10,000
- Spreads: From 2.0 pips
- Commission: None
- Withdrawal fee: $20
Gold Account
- Minimum deposit: $50,000
- Spreads: From 1.0 pips
- Commission: None
- Withdrawal fee: None
Comparison of the fees with other trading platforms
Pattern Trader's fees and charges are higher than those of many other trading platforms. However, the platform's range of trading tools and resources may justify the higher fees for some traders.
Pattern Trader Security
Pattern Trader takes security very seriously and has implemented a range of measures to protect traders' funds and personal information. These measures include:
- SSL encryption
- Two-factor authentication
- Segregated accounts
- Regular security audits
Comparison with other trading platforms
Compared to other trading platforms, Pattern Trader's security measures are on par with industry standards.
Conclusion
Overall, Pattern Trader is a legitimate trading platform that offers a range of features designed to help traders make informed trading decisions. While the platform's fees and charges may be higher than those of some other trading platforms, its range of trading tools and resources may justify the higher costs for some traders. However, it's important to remember that CFDs and real cryptos are high-risk investments that require careful consideration before investing.
FAQs
Is Pattern Trader regulated?
Yes, Pattern Trader is regulated by the Financial Conduct Authority (FCA) in the UK.
Can I withdraw funds from my Pattern Trader account?
Yes, you can withdraw funds from your Pattern Trader account once you have completed the necessary verification requirements.
Does Pattern Trader offer a demo account?
Yes, Pattern Trader offers a demo account that allows traders to practice trading with virtual funds.
How do I open an account with Pattern Trader?
To open an account with Pattern Trader, simply visit the platform's website and follow the registration process.
What are the minimum deposit requirements for Pattern Trader?
The minimum deposit requirements for Pattern Trader vary depending on the account type, with a minimum deposit of $250 for the Basic account.
How do I contact Pattern Trader customer support?
Pattern Trader offers 24/7 customer support via phone, email, and live chat.
What are the trading hours on Pattern Trader?
Pattern Trader offers 24/7 trading, allowing traders to access the platform at any time.
What are the risks associated with trading CFDs and real cryptos?
CFDs and real cryptos are high-risk investments that require careful consideration before investing. Traders should be prepared to lose all of their invested funds.
How do I know if I am eligible to use Pattern Trader?
Pattern Trader is available in over 150 countries worldwide. However, traders should check their local regulations to ensure they are eligible to use the platform.
Can I use Pattern Trader on my mobile device?
Yes, Pattern Trader offers a mobile app that allows traders to access the platform on their mobile devices.