Pattern Trader Review – Is it Scam? – Online Broker

Introduction

Cryptocurrency trading has become increasingly popular in recent years, with many people turning to online brokers like Pattern Trader for their trading needs. However, with the rise in popularity comes the rise in scams and fraudulent platforms. In this article, we will take a closer look at Pattern Trader, its features, legitimacy, and allegations of being a scam.

Pattern Trader – Understanding the Platform

Pattern Trader is an online trading platform that allows users to trade a variety of financial instruments, including cryptocurrencies, forex, and stocks. The platform offers a range of trading tools, including technical analysis tools and risk management features.

Features of Pattern Trader

Pattern Trader offers a range of features, including:

Multiple markets: Users can trade a variety of financial instruments, including cryptocurrencies, forex, and stocks.
Advanced trading tools: Pattern Trader offers a range of technical analysis tools and risk management features.
User-friendly interface: The platform is easy to navigate and use, making it accessible to traders of all levels.

User Interface and User Experience

Pattern Trader's user interface is designed to be user-friendly, with a clean and simple layout that is easy to navigate. The platform is responsive and works well on both desktop and mobile devices, making it easy to trade on-the-go.

Trading Tools available on Pattern Trader

Pattern Trader offers a range of trading tools, including:

Technical analysis tools: The platform offers a range of technical indicators and charting tools to help traders analyze the markets.
Risk management features: Pattern Trader offers a range of risk management features, including stop-loss and take-profit orders.
Social trading: The platform allows users to copy the trades of other successful traders.

Pattern Trader – Legitimacy

When it comes to online trading platforms, legitimacy is a key concern for many traders. In this section, we will take a closer look at Pattern Trader's legal status and regulation.

Legal Status of Pattern Trader

Pattern Trader is owned and operated by PatternTrader Ltd., which is registered in St. Vincent and the Grenadines. While St. Vincent and the Grenadines is not a well-known financial hub, it is a legitimate jurisdiction for offshore companies to operate from.

Regulation and Compliance

Pattern Trader is not regulated by any financial regulator, which may be a concern for some traders. However, the platform does have a strict anti-money laundering policy in place to ensure compliance with international financial regulations.

Company Information and History

PatternTrader Ltd. was founded in 2017 and has been operating as an online trading platform ever since. The company has a team of experienced traders and developers who work to ensure the platform is up-to-date and secure.

Pattern Trader – Scam or Not?

There have been allegations of Pattern Trader being a scam, but is there any evidence to support these claims?

Allegations against Pattern Trader

Some traders have accused Pattern Trader of being a scam, citing issues such as:

Withdrawal issues: Some users have reported having difficulty withdrawing funds from the platform.
Poor customer support: Some users have reported poor customer service from Pattern Trader.
High fees: Some users have complained about the high fees associated with using Pattern Trader.

Evidence supporting Pattern Trader

Despite these allegations, there is no concrete evidence to suggest that Pattern Trader is a scam. The platform has been operating for several years and has a large user base, which suggests that it is a legitimate platform.

Analysis of Customer Reviews

Customer reviews of Pattern Trader are mixed, with some users praising the platform's user-friendly interface and range of trading tools, while others have complained about issues with customer support and high fees.

How Pattern Trader Works

In this section, we will take a closer look at how Pattern Trader works, from signing up to trading on the platform.

Signing Up for Pattern Trader

To sign up for Pattern Trader, simply visit the platform's website and click on the "Sign Up" button. You will need to provide some basic personal information and choose a password to create your account.

Depositing Funds on Pattern Trader

Once you have created your account, you can deposit funds using a variety of payment methods, including credit/debit cards, bank transfers, and e-wallets.

Trading on Pattern Trader

To start trading on Pattern Trader, simply select the financial instrument you wish to trade, choose your trading parameters, and click on the "Trade" button. The platform will execute your trade automatically.

Benefits of Using Pattern Trader

There are several benefits to using Pattern Trader for your trading needs, including:

Access to Multiple Markets

Pattern Trader allows users to trade a variety of financial instruments, including cryptocurrencies, forex, and stocks, giving you access to a wide range of markets.

Ease of Use

Pattern Trader has a user-friendly interface that is easy to navigate, making it accessible to traders of all levels.

Advanced Trading Tools

Pattern Trader offers a range of technical analysis tools and risk management features, allowing traders to make informed decisions and minimize their risks.

Drawbacks of Using Pattern Trader

While Pattern Trader has many benefits, there are also some drawbacks to consider:

Limited Educational Resources

Pattern Trader does not offer many educational resources for traders, which may be a concern for those who are new to trading.

High Fees

Pattern Trader charges high fees for trading, which may be a concern for traders who are looking to minimize their costs.

Lack of Customization Options

Pattern Trader does not offer many customization options, which may be a concern for traders who want more control over their trades.

Comparison with Other Online Brokers

In this section, we will compare Pattern Trader with other popular online brokers.

Comparison with eToro

eToro is another popular online broker that allows users to trade a variety of financial instruments, including cryptocurrencies, forex, and stocks. While eToro offers a range of social trading features, Pattern Trader has more advanced technical analysis tools.

Comparison with Robinhood

Robinhood is a popular online broker that is known for its commission-free trading. While Robinhood only allows users to trade stocks and cryptocurrencies, Pattern Trader offers a wider range of financial instruments.

Comparison with TD Ameritrade

TD Ameritrade is a well-established online broker that offers a range of trading tools and educational resources. While TD Ameritrade has more educational resources than Pattern Trader, the latter has a more user-friendly interface.

Conclusion

In conclusion, Pattern Trader is a legitimate online trading platform that offers a range of features and trading tools. While there have been allegations of it being a scam, there is no concrete evidence to support these claims. However, traders should be aware of the high fees associated with using the platform and the lack of educational resources.

Frequently Asked Questions

Is Pattern Trader a Scam?

There is no concrete evidence to suggest that Pattern Trader is a scam. The platform has been operating for several years and has a large user base, which suggests that it is a legitimate platform.

What is Pattern Trader?

Pattern Trader is an online trading platform that allows users to trade a variety of financial instruments, including cryptocurrencies, forex, and stocks.

Can I trade cryptocurrencies on Pattern Trader?

Yes, Pattern Trader allows users to trade cryptocurrencies, as well as other financial instruments.

What are the fees for using Pattern Trader?