Prestige Option – Scam or Not

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UPDATE (25.11.2020):

Prestige Option has shut down their operations.

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Old Review:

Prestige Option has not been around for long and is a newly established binary options broker. It is licensed and supervised by CySEC. They are suited for both, newcomers with no experience, and for experienced traders who have been trading for quite some time. This review is primarily for all traders who want to gather information about this prospective broker.

Basic information:

Online since: 2020
Jurisdiction: Cyprus
Software: TradeSmarter
Max Returns: 88%
Minimum Deposit: $250
Minimum Investment: $25
Maximum Investment: Unlimited
Currencies: USD, EUR
Mobile: Yes
Countries: All nations except USA

– Licensed by CySec
– Offers many different account types
– No maximum investment

– Doesn’t accept the traders from the US

7 Binary Options Rating:

Prestige Option Account Types

To be able to keep up with the competition in the vast options world, brokers have to offer some perks and extras to traders. Prestige Option is highly competitive by offering five account types to cover the different traders’ levels. Check out the features of these account types below.

Bronze Account

  • The minimum required deposit is $500
  • Economic information
  • More than 100 tradable assets at disposal

Silver Account

  • Requires $2500 as minimum deposit
  • Economic information
  • More than 100 tradable assets at disposal
  • Market review on a weekly basis
  • Financial management plan for newcomers
  • Basic video tutorials

Gold Account

  • Requires $10,000 as minimum deposit
  • Economic information
  • Market review two times a week
  • Autochart list access granted
  • Financial management plan (intermedium)
  • A total of 3 training sessions
  • Advanced video tutorials
  • All advantages from the Silver Account are also included

VIP Account

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  • Requires $50,000 as minimum deposit
  • Economic information
  • More than 100 tradable assets at disposal
  • Advance video tutorials
  • Market reviews on a daily basis
  • Financial management plan (advanced)
  • Strategix access granted
  • 2% of dividend payment

Platinum Account

  • Requires $100,000 as minimum deposit

As we can see, Prestige Option does not lack a variety of choice when it comes to account types, but also you probably have noticed that no benefits are provided for the Platinum Account. That might bother some traders who want to have complete information on this issue, without having to contact the broker or the account manager. If we consider the minimum deposits, many traders will probably think that they are too high when compared to other binary options brokers which usually offer accounts from $250, as opposed to the lowest minimum deposit of $500 offered by Prestige Option.

The broker also offers risk-free trades which can go as high as 100%. If the trader has a winning trade, they can withdraw the profit anytime they want. If they have a losing trade, they can get their invested deposit back, but only after trading

The maximum return rate with Prestige Option is around 88%, whereby with Strategix (offered with the VIP account) it skyrockets to 320%.

Prestige Option Trading Platform

Prestige Option opted for a platform not frequently used by other brokers. The platform is called TradeSmarter, and just because it is not used by the majority, does not mean that it is lower in quality. TradeSmarter actually offers a great interface which is very convenient for the traders.

As a trendy new options broker, Prestige Option also offers a mobile trading app for traders who like to trade on the go. The mobile app differs in design because the phone display is smaller. The app provides for the advanced and simplified screening options and traders can choose which one to use. If they want to see more data and focus on details, they will opt for advanced screening, of course. The app is available in 14 languages and includes social trading as well.

The options offered by Prestige Option are somewhat limited including only Startegix, turbo options, pairs, and high/low trades. Their website is therefore very user-friendly and information can be easily found because of the convenient drop-down menu.

Screenshot

Prestige Option Support Information

Prestige Option has a multilingual website including French, German, and English. Prestige Option hopes for international customers who speak other languages and translated the website to the other two mainstream languages.

The Prestige Option customer support can be contacted via different communication channels. First of all, they offer an online form on their website, as well as live chat, phone contact, and e-mail. On their website, they also announced that contacting via e-mail is more suitable for general information.

For the purposes of this review, we tested customer support efficiency and contacted them via live chat. The results were positive given that they answered our request within minutes. Not only did they answer fast, but they also provided relevant information.

As many other brokers, PrestigeOtion has also a training or educational center which the traders can use to educate themselves. The training center consists of webinars, glossaries, video tutorials, literature. What is worth mentioning is that the majority of the educational resources are not available to traders who did not make a deposit.

Prestige Option Payment Methods and General Company Information

Prestige Option also offers abundant payment possibilities and accept different payment methods. The range of payment methods offered by the broker can be found below:

  1. Bank transfer
  2. Credit Cards: Visa, Maestro, MasterCard, JBC, and Diners Club
  3. E-wallet: Skrill/Moneybookers
  4. Local payment methods: CashU, iDeal, LightStream, Bancontact, Qiwi, WebMoney

The required minimum deposit for all of the above payment methods is $100, except for bank transfer. Bank transfer requires a minimum of $500. When it comes to withdrawals, they are possible without any limitations since no minimum withdrawal requirements exist. Also, the broker does not charge any additional fees on deposits and withdrawals, but it is always possible that third parties will charge fees independently from the broker (e.g. banks).

It takes 5 business days to process wire transfers and online payments, while it takes 10 for credit card withdrawals. Before sending a withdrawal request, make sure to verify your identity by sending requested documents.

As we said, the broker is under the supervision of CySEC (no. 296/16), and in the ownership of Leadcapital Markets Ltd.

Additional information

Customer Service: phone, e-mail, live chat, website contact form
Languages: French, English, German
Trading Options: High/Low, On Demand (60 Sec), One Touch, Range
Assets: Currencies, Stocks, Indices, Commodities
Early close: Yes
Expiry Times: 30 and 60 seconds, 2,5, and 30 minutes, 1 hour, 24+ hours, end of day, week, month
Deposits and Withdrawals: VISA, Mastercard, Maestro, Wire Transfer, Bancontact, CashU, iDeal, WebMaster, Qiwi, Skrill Moneybookers
Withdrawal Time: 5-10 business days
Demo account: Yes

7 Binary Options review: Prestige Option: 4,5 stars.

24Option Review 2020 – Is 24Option.com Scam or Legit?

Name 24Option Review 2020 – Is 24Option.com Scam or Legit?
Founded 2009
Legal Entity Rodeller Ltd
Turnover 85%
Minimum deposit $200
Bonus 100%
Full Address Great Britain, London, 15th Floor 99 Bishopsgate
Phone +357 25 030600
Regulation CySEC, FCA
Site visit site
E-mail [email protected]
Visit Broker

24option , founded in 2009, provides excellent and reputable conditions for binary options trading. In our 24option review, we discovered that it offers state-of-the-art and sophisticated technology, along with a wide range of trading instruments, to assist traders have a fulfilling and enjoyable experience trading binary options.

24option has gained tremendous popularity over the last years by virtue of having an exuberant payout ratio that has been between 70% to 89% margin for money options. This ratio is much higher than most of the competitors. Notably, the returns on 60 second options have been around 70% for most clients. This gives 24Option a unique and a distinctive position amongst the fin tech brokers.

Trading Platform

24Option provides an extensive range of assets to provide traders with an opportunity of trading based on their preferences and experiences. The web-based and easy to use Tech Financials platform has over 100 trading instruments, comprising of 30 currencies (forex), 11 commodities, 43 stocks, and 19 indices.

Traders can choose to trade short term options, high/low options, one touch options, or boundary options. What’s more, the expiry times of the assets are also excellent; allowing traders to select anywhere from 30 seconds, 60 seconds, 2 minutes, 5 minutes, thereafter every 5 minutes for the period they want. Traders can also use robots for trading the various assets on the platform.

Regulation

A company called Rodeler Ltd is located in Limassol, Cyprus, owns 24Option, is registered with the Cyprus Securities Exchange Commission (CySEC) under license number 207/13. Besides, 24Option (Rodeler Ltd) is also certified by the British Financial Conduct Authority and Rodeler BaFin in Germany.

Because the broker is constantly under the watchful eye of the regulators, it is highly credible and operates in accordance with international law. Therefore, 24Option is not a scam and you are sure of the safety of your funds and quality service delivery.

We are pleased with 24Option’s hefty percentage payouts, convenient withdrawal and deposit methods as well as other exciting trading conditions. The existence of a strong regulatory framework also provides sufficient assurance that 24Option is not a scam broker.

Account opening

A very significant highlight of this 24Option review is the different type of accounts that can be opened with the broker. The main type of accounts are Basic, Silver, Gold, Platinum, and Diamond. The key aim of providing different accounts is to ensure that every trader has suitable services that resonate well with his or her trading style.

For instance, if you register for a Platinum or a Diamond account, you will receive SMS or e-mail alerts of potential trading opportunities. Thus, whether you are a basic user or you need advanced level of tools at your disposal, there is an account type to match your specific requirements.

Furthermore, 24Option offers a free demo account to assist new traders familiarize themselves with the ins and outs of trading binary options without any risk of losing real money.

Withdrawals

For any binary options broker, the simplistic nature of deposits and withdrawals is pivotal to its popularity. 24Option provides a very convenient, easy and fast way to deposit or withdraw funds through various payment methods, including debit and credit cards, Skrill (Moneybookers), bank transfer, Web money, and Neteller.

The broker allows a minimum deposit of $250. And, the minimum trade amount is $24 while the maximum trade size is $100,000 for each trade!

Bonuses

24Option normally offers a bonus of up to 100% to assist traders navigate the markets using a much larger capital outlay. More so, the broker usually announces other great promotions for both new and existing customers.

Customer Service

Another extremely important feature that our review team noticed that makes broker stand out is its customer-focused service. The broker boasts of experienced multi-lingual customer support staff that is always striving to ensure clients get the best possible conditions for trading.

The broker’s support department can be reached 24/7 through email, phone, or online chat.

Broker also provides an extensive range of educational resources and tools to enable traders carve out a successful binary options trading career. In addition, the broker assigns traders dedicated account managers to assist them sharpen their trading skills and make better trade decisions.

Conclusion

However, one major drawback we realized from our 24Option review is that the broker does not allow U.S. traders to use its platform. Nonetheless, the broker still ticks in the other areas.

If you are looking for a binary options broker that places the needs of its clients first and does not disappoint in offering quality services, then we would definitely recommend that you try out the broker.

Range of Services

Your Rating

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Pocketoption.com Review: Is Pocket Option Scam or Safe?

Pocketoption.com Review: Is Pocket Option Scam or Safe?

4 Comments

Last Updated: Feb 15, 2020 @ 11:58 am

Pocket Option is a binary options trading platform which is allegedly offering bets on a variety of assets. Actually, they claim that Pocket Option is providing over 100 different trading assets on their platform. These assets include Forex, Crypto currencies, precious metals and even oil. The problem is that Pocket Option is unregulated and are based on an offshore location. That means that if you were planning to bet with such a platform, you should think again since unregulated brokers are often associated with scams. We implore you to read this review carefully because if you don’t, the most likely thing is that you will lose your money and suffer major disappointments especially if you had invested a lot of money.

Pocket Option is offering one standard account which requires a minimum deposit of $50. Leverage and spreads do not apply in binary options trading. So these are not listed on the site.

While this site is unregulated and is based in an offshore location, we find that their wide variety of trading instruments are attractive. The broker is actually offering 30 Forex pairs in addition to exotic currencies like Russian Ruble, Singapore Dollar, Polish Zloty, Turkish Lira and South African Rand. In addition to this, they are offering spot metals like silver and gold for trading. There are also plenty of stocks and Crypto currencies for trading which include Ripple, Stellar, Vertcoin, Santiment, Viacoin, Zcash, Litecoin, NEM, NEO, Bitcoin Cash, EOS, Ethereum Classic, GameCredits, Monero, Ethereum, Bitcoin and Ardor.

Having said this, we realize that this broker is still not offering the safest platform to trade with due to their shortcomings. You must not ignore the advantages that we shall list in the following paragraphs. For now, we recommend trading with regulated brokers only. You can find them on this page.

Pocket Option review

Pocket Option offers payouts of 93% for a pair like EURUSD. This is considered extremely good. There are very few brokers who offer this type of payout and if Pocket Option was genuine and legit about their business, those who want to bet on this platform would make the most amount of money.

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However, we still encourage investors to pursue trading rather than betting. By the way, if you are looking for brokers who are offering tighter spreads on traditional Forex and Crypto currency trading, you may look at this list of brokers who have successfully and consistently provided a good service to all traders.

You can also start trading with $50 only which is an acceptable amount considering that this is binary options trading and bets are usually done with as little as $1. With most brokers, you will have to fund your account with at least $250 in order to start trading. At the same time, some big players in the market do not have a minimum deposit requirement, which is even better.

Unfortunately, the disadvantages of trading with this broker are also very real. Let’s discuss them below and if you think these are serious setbacks, you might need to rethink your decision.

Lack of regulation

Pocket Option is owned and operated by a company known as Gembell Limited which is based in the Marshall Islands. This company’s activities are overseen by yet another entity called Tifiya Group s.r.o. However, it should be noted that the European Securities and Markets Authority (ESMA) banned binary options trading in the European Union. Basically this means that all operations of this broker in EU countries are considered illegal.

Pocket Option also claims that they are regulated by the International Financial Market Relations Regulation Center (IFMRRC). But it should be noted that IFMRRC is not an official financial regulatory authority like the FCA in the UK or the ASIC of Australia. Therefore, this statement lacks credibility and we can presume that Pocket Option is not regulated at all. It should also be noted that IFMRRC is operated and managed by Russian, and the nature of their business is usually to accommodate and entertain unregulated off shore brokers.

It should also be noted that regulations are the most important factor when choosing a broker. We advice all traders to ignore brokers who are not regulated and are based in an off shore location. As a regulated broker, you can rest assured that the broker will adhere to strict professional and ethical rules. With regulated brokers, you can rest assured that they will be required to maintain a certain minimum operational capital and also maintain a level of transparency including filing reports and also participating in client compensation schemes.

MT4 is not supported

MT4 trading platform is a classical trading software and any broker who does not offer this platform is definitely missing a lot. Of course this platform is used for Forex and CFD trading but its benefits are tremendous as it helps traders make informed decisions while placing trades in the market place.

Its diverse, and it supports a variety of automated trading solutions. There is simply no reason why a broker would not want to offer this trading platform on their website.

Fewer payment methods

Pocket Option supports a few payment methods such as Visa, Mastercard and bank wire. Most brokers in this category support payment methods like Bitcoin and also Neteller and Skrill. While this is not necessarily a disadvantage, you may find some traders wanting to deposit using these methods and may get disappointed if their most preferred account funding methods are not supported.

Our best advice for you

While this broker looks like a professional platform for trading, their description and appearance looks like a ripe recipe for financial chaos. They are unregulated and are based in an off shore location. So there is no reason why they cannot scam you at some point. Our advise is that all serious traders must only invest with properly regulated brokers. But as for Pocket Option, this is a big fat no. In case you missed our recommended brokers who are regulated, we advise that you click this link and sign up.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Perfect For Beginners!
    Free Demo Account!
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  • Binomo
    Binomo

    Trustful Broker!

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