admin5. Juni 2023

Pattern Trader Review – Is it Scam? – Online Broker

Introduction

Pattern Trader is an online broker that provides investors with access to a wide range of investment opportunities. Whether you're a seasoned investor or just starting out, Pattern Trader offers a range of investment options to help you achieve your financial goals. However, before investing with any online broker, it's important to conduct a thorough review to ensure that your investments are safe and secure. In this article, we'll take a closer look at Pattern Trader's reputation, fees, trading platform, customer support, security measures, and user experience to help you determine whether or not it's a good fit for your investment needs.

Background Information

Pattern Trader was founded in 2015 with the goal of providing investors with a simple, user-friendly platform for investing in a variety of markets. The company offers a range of investment options, including stocks, bonds, mutual funds, and exchange-traded funds (ETFs). Pattern Trader's platform is designed to be easy to use, with a clean and intuitive interface that makes it simple for investors to find and invest in the assets that they're interested in.

Reputation and Legitimacy

When it comes to investing with an online broker, reputation and legitimacy are key factors to consider. After conducting extensive research, we can confirm that Pattern Trader is a legitimate online broker that has built a solid reputation in the industry. The company is registered with the Securities and Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA), ensuring that it adheres to strict regulatory standards.

In terms of reputation, Pattern Trader has received generally positive reviews from customers. While there have been some complaints about the platform's fees, overall, customers seem to be satisfied with the company's investment options, trading platform, and customer support.

Fees and Charges

Like any online broker, Pattern Trader charges fees for its services. These fees can include commissions, management fees, and other charges related to investing. Overall, Pattern Trader's fees are in line with other online brokers in the industry, though there are some areas where the company could be more transparent.

For example, Pattern Trader's website doesn't provide a clear breakdown of the fees and charges associated with each investment option. This can make it difficult for investors to determine exactly how much they'll be paying for each trade. Additionally, some customers have reported unexpected fees and charges, which can be frustrating.

Trading Platform

Pattern Trader's trading platform is designed to be intuitive and user-friendly, with a range of features that make it easy for investors to buy and sell assets. The platform is web-based, so there's no need to download any software or apps, and it's accessible from any device with an internet connection.

One of the standout features of Pattern Trader's platform is its advanced charting tools, which allow investors to analyze market trends and make informed investment decisions. The platform also offers a range of educational resources, including video tutorials and webinars, to help investors learn more about investing and make smarter decisions.

Overall, Pattern Trader's trading platform is competitive with other online brokers in the market, though it may not be as advanced as some of the more established brokers.

Customer Support

When it comes to investing, having access to responsive and helpful customer support is essential. Pattern Trader offers customer support via phone, email, and chat, making it easy for investors to get help whenever they need it. Additionally, the company's website has a comprehensive FAQ section that provides answers to many common questions.

Reviews from previous customers suggest that Pattern Trader's customer support is generally responsive and helpful, though there have been some complaints about long wait times and difficulty getting in touch with a representative.

Security Measures

Investing online comes with certain risks, which is why it's important to choose an online broker that takes security seriously. Pattern Trader uses a range of security measures to protect investors' data and investments, including firewalls, encryption, and multi-factor authentication.

Additionally, Pattern Trader is a member of the Securities Investor Protection Corporation (SIPC), which provides insurance protection for investors in the event that the company goes bankrupt or is otherwise unable to return investors' assets.

User Experience

Overall, Pattern Trader's website and trading platform are designed to be user-friendly and intuitive. The platform is easy to navigate, with a clean and modern design that makes it easy to find the information you need. Additionally, the company provides a range of educational resources and tools to help investors learn more about investing and make smarter decisions.

Reviews from previous customers suggest that Pattern Trader's platform is generally easy to use, though there have been some complaints about slow load times and other technical issues.

Pros and Cons

Pros:

User-friendly trading platform
Range of investment options available
Competitive fees and charges
Comprehensive educational resources
Responsive customer support

Cons:

Lack of transparency around fees and charges
Some technical issues with the trading platform
Long wait times for customer support

Conclusion

Based on our research, we believe that Pattern Trader is a legitimate online broker that offers a range of investment options and a user-friendly trading platform. While there are some areas where the company could improve, overall, we believe that Pattern Trader is a good option for investors who are looking for a simple and straightforward platform for investing in a variety of markets.

FAQs

Is Pattern Trader regulated?

Yes, Pattern Trader is registered with the Securities and Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA), ensuring that it adheres to strict regulatory standards.

What types of investments are available through Pattern Trader?

Pattern Trader offers a range of investment options, including stocks, bonds, mutual funds, and exchange-traded funds (ETFs).

How long does it take to open an account with Pattern Trader?

Opening an account with Pattern Trader typically takes just a few minutes. However, the company may require additional documentation or verification before approving your account.

What are the fees associated with Pattern Trader?

Pattern Trader charges fees for its services, including commissions, management fees, and other charges related to investing. While fees vary depending on the investment option, overall, Pattern Trader's fees are competitive with other online brokers in the market.

How does Pattern Trader's trading platform compare to other brokers?

Pattern Trader's trading platform is competitive with other online brokers in the market, though it may not be as advanced as some of the more established brokers.

How can I contact Pattern Trader's customer support?

Pattern Trader offers customer support via phone, email, and chat. Additionally, the company's website has a comprehensive FAQ section that provides answers to many common questions.

What security measures are in place at Pattern Trader?

Pattern Trader uses a range of security measures to protect investors' data and investments, including firewalls, encryption, and multi-factor authentication. Additionally, the company is a member of the Securities Investor Protection Corporation (SIPC), which provides insurance protection for investors in the event that the company goes bankrupt or is otherwise unable to return investors' assets.

Are there any educational resources available on Pattern Trader's website?

Yes, Pattern Trader provides a range of educational resources and tools to help investors learn more about investing and make smarter decisions. These resources include video tutorials, webinars, and other educational content.

What are the pros and cons of investing with Pattern Trader?