We have today decided to remove EZTrader from our broker list on FairForexBrokers.com and redirect our traffic to another broker. The reason is that we have learned that EZTrader do not pay its customers in a timely manner. Currently one of our members of FairForexBrokers.com have failed to get paid over a period of one month. He has sent numerous emails to the EZTrader support till the point where he gave up and asked for our help.
**After we published this story EZTrader got back to us and paid all accounts + $50 extra due to the inconvenience READ MORE**
We are unaware whether they scam clients or simply fail to manage their operations, hire staff that follow procedures or whether the company has no procedures in the first place. It is a matter of €206 for one customer and €169 for another customer. We can’t imagine its a matter of lack of funds? Or maybe it is? Maybe EZTrader simply failed to reload their Skrill Moneybookers account so they can’t pay out the funds? All good questions that we have gotten no answers to.
We have a personal contact at all brokers we list on our site. Our contact person promised to get this solved but failed to do so over a period of 2 weeks.
We are now at the point where the next step would be to complain to CySEC.
EZTrader is licensed and regulated by CySEC but much like most industry experts says this is basically a rubber stamp that allows you to promote yourself legally within EU. It is a not license given for quality of customer care in case you wondered. We are unsure whether the CySEC license actually makes a difference in this matter. Maybe this post will.
We know of two traders with money stuck on EZTrader. Both will be compensated by us directly if we fail to solve this issue so they get their deposit returned by FBO owned by Binary Options Malta Ltd.
We hope for a positive outcome but felt obliged to inform our members and the general public.