ScalaTrade was a binary options broker made exclusively for the Russian market.
ScalaTrade is owned by NRB Holdings Ltd.. Payment processing is handled by Creditcapital SM Ltd., 159 Kenmore Avenue, Harrow, HA3 8PB, England. Their phone number in Russia is: +7 49 9643 4424 and in Singapore +65 3 108 0388. Their email address is [email protected].
ScalaTrade Review
Scalatrade provides their traders with the SpotOption / LiveTrader trading system, which also has iOS and Android apps for mobile and tablets. Their website is currently only available in Russian, in April they will open for English speakers also. Their trading platform includes Forex / CFD’s, along with binary option trading. Traders have the full suite of binary options available, including 30, 60, 90, 180 & 300 Second Options, One Touch, Ladder and Pairs Options. On most binary options, the returns range from 70% to as high as 90%.
Minimum deposit for new accounts is $250. New traders can receive a bonus of up to 150% of their deposit amount. As with all bonuses from binary options brokers, it comes with trading volume requirements, with ScalaTrade you need to trade 30 times the bonus amount.
ScalaTrade Not Licensed
When Scam Broker Investigator reviews a binary options broker, we check to see if they are licensed in the European Union. ScalaTrade is a broker made for Russia. Russia does not have a licensing agency like CySEC for binary option brokers. In Russia there are a couple of Self Regulatory Organizations, which go by the name Crofin, CROFR and FMRRC.
Traders in the EU can check the list of licensed brokers, and find a CySEC licensed broker.
ASIC WARNING!
ASIC Commissioner Cathie Armour said, ‘ASIC urges all investors considering trading in binary options to check they are dealing with an entity that holds an Australian financial services licence or is authorised by an Australian financial services licensee and regulated by ASIC.
Is ScalaTrade a legitimate binary option broker and not a scam broker? Please share your trading experience in the comments section below.