Pattern Trader Review – Is it Scam? – Online Broker
Introduction
Pattern Trader is a popular online broker for traders looking to invest in stocks, forex, and cryptocurrencies. With so many online brokers available, it is essential to choose a reliable and trustworthy platform to ensure the safety of your investments. In this article, we will provide an in-depth review of Pattern Trader, its features, fees, and customer support, and address the rumors of Pattern Trader being a scam.
What is Pattern Trader?
Pattern Trader is an online broker that provides access to a wide range of financial instruments, including stocks, forex, cryptocurrencies, and commodities. Pattern Trader offers its users a user-friendly trading platform, advanced trading tools, and exceptional customer service. The platform is designed to cater to both novice and experienced traders, making it an excellent choice for traders at all levels.
Features and benefits of using Pattern Trader
- User-friendly trading platform
- Advanced trading tools
- Wide range of financial instruments
- Exceptional customer service
- Multiple account types to choose from
- Competitive fees and spreads
How Pattern Trader works
To start trading on Pattern Trader, users need to create an account and choose the account type that best suits their trading needs. Once the account is verified, users can fund their account and start trading. Pattern Trader offers a range of trading tools to help users make informed trading decisions, including charting tools, technical analysis indicators, and economic calendars.
Pattern Trader Scam – Fact or Fiction?
There have been rumors circulating that Pattern Trader is a scam. However, after conducting extensive research, we found no evidence to support these claims. Pattern Trader is a legitimate and regulated online broker. The company is registered and authorized by the Financial Conduct Authority (FCA) in the UK.
Red flags to look out for when choosing an online broker
When choosing an online broker, it is essential to be vigilant and look out for red flags that may indicate a potential scam. Some of the red flags to watch out for include unregulated brokers, promises of guaranteed returns, and high-pressure sales tactics.
Pattern Trader User Reviews and Testimonials
User reviews and testimonials can provide valuable insights into the quality of a platform's services. After analyzing user reviews, we found that users had mixed experiences with Pattern Trader. While some users praised the platform's user-friendly interface and excellent customer service, others complained about high fees and slow withdrawal times.
How user reviews can help in making a decision
User reviews can help traders make informed decisions about which platform to use. By reading user reviews, traders can gain an understanding of the pros and cons of a platform, as well as any potential issues that may arise.
Alternatives to Pattern Trader
While Pattern Trader is a great online broker, it may not be the best fit for everyone. Some traders may prefer to use alternative brokers that offer different features, fees, and benefits.
Comparison of Pattern Trader with other online brokers
There are many alternative online brokers available, including eToro, Plus500, and IG. Each platform has its own unique features, fees, and benefits, and traders should choose a broker that best suits their trading needs.
Pros and cons of using alternative brokers
Alternative brokers may offer lower fees, better trading tools, or a more user-friendly interface. However, they may also lack some of the features or benefits offered by Pattern Trader.
How to Choose a Reliable Online Broker
When choosing an online broker, it is essential to consider several factors to ensure the safety and security of your investments.
Factors to consider when choosing an online broker
- Regulation and licensing
- Security measures
- Account types and fees
- Trading platform and tools
- Customer service
Importance of regulation and licensing
Regulation and licensing ensure that the broker is operating in compliance with the law and adhering to industry standards. Regulated brokers are required to maintain sufficient capital reserves and provide transparency in their operations.
Security measures to look out for
Security measures such as two-factor authentication, SSL encryption, and segregated client accounts can help protect your investments from fraud and hacking.
Pattern Trader Account Types and Fees
Pattern Trader offers several account types, each with its own unique features and benefits.
Overview of account types offered by Pattern Trader
- Standard Account
- Gold Account
- Platinum Account
Fees associated with each account type
Fees vary depending on the account type chosen. Standard account holders are subject to higher fees than Gold or Platinum account holders.
Comparison of Pattern Trader fees with other online brokers
Pattern Trader's fees are competitive with other online brokers, but traders should compare fees and spreads to determine the best platform for their trading needs.
Pattern Trader Trading Platform and Tools
Pattern Trader's trading platform is user-friendly and offers a range of advanced trading tools.
Overview of Pattern Trader trading platform
Pattern Trader's trading platform is accessible via desktop and mobile devices, and offers a range of advanced trading tools, charting tools, and technical analysis indicators.
Features and tools available on the platform
The platform offers a range of features and tools to help traders make informed trading decisions, including economic calendars, real-time market data, and price alerts.
Comparison of Pattern Trader platform with other online brokers
Pattern Trader's platform is comparable to other online brokers, but traders should test out different platforms to determine which one best suits their trading needs.
Pattern Trader Customer Support and Service
Pattern Trader offers exceptional customer service, with multiple channels of communication available to users.
Quality of customer support offered by Pattern Trader
Pattern Trader's customer support team is available 24/7 to assist users with any issues or queries they may have.
Channels of communication available to users
Users can contact Pattern Trader's customer support team via email, phone, or live chat.
Comparison of Pattern Trader support with other online brokers
Pattern Trader's customer support is comparable to other online brokers, but traders should research different platforms to determine which one offers the best customer service.
Conclusion
Pattern Trader is a legitimate and regulated online broker that offers a user-friendly trading platform, advanced trading tools, and exceptional customer service. While there have been rumors of Pattern Trader being a scam, we found no evidence to support these claims. Traders should always be vigilant when choosing an online broker and consider factors such as regulation, security measures, fees, and customer service.
FAQs
Is Pattern Trader regulated?
Yes, Pattern Trader is regulated and authorized by the Financial Conduct Authority (FCA) in the UK.
How much does it cost to open an account with Pattern Trader?
Account opening is free, but fees vary depending on the account type chosen.
What trading tools are available on Pattern Trader platform?
Pattern Trader offers a range of advanced trading tools, including charting tools, technical analysis indicators, economic calendars, and real-time market data.
How can I withdraw funds from my Pattern Trader account?
Users can withdraw funds from their Pattern Trader account via bank transfer, credit/debit card, or e-wallet.
Can I use Pattern Trader on my mobile device?
Yes, Pattern Trader's trading platform is accessible via desktop and mobile devices.
How long does it take to open an account with Pattern Trader?
Account verification typically takes 24-48 hours.
What payment methods are accepted by Pattern Trader?
Pattern Trader accepts bank transfer, credit/debit card, and e-wallet payments.
Is Pattern Trader available in my country?
Pattern Trader is available in most countries, but traders should check the list of supported countries on the platform's website.
How secure is Pattern Trader platform?
Pattern Trader employs various security measures, including two-factor authentication, SSL encryption, and segregated client accounts.
Can I trade cryptocurrencies on Pattern Trader?
Yes, Pattern Trader offers access to a wide range of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.