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TrueOptions24 Review: Is Trueoptions24.com Scam?

TrueOptions24 Review: Is Trueoptions24.com Scam?

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Trueoptions24.com claims that they are regulated in both the UK and the US through the respective bodies that regulates brokers and companies providing investment services in general. Unfortunately, a number of things are not right with TrueOptions24. For that reason, you have to read this review because the operations of this entity will affect you if you chose to use their service anyway. It is better to read the warning first so that you know what to expect should you decide to use their service.

The first thing you need to know about TrueOptions24 is that they have 4 different types of investment plans. These accounts have varied features that the most notable one is the minimum investment needed to open any of the 4 accounts. Basic account requires  a minimum investment of $500. Standard requires $1000, while Professional and Ultimate require 5K and 10K respectively.

Now, this platform does not appear to have any pros associated with using their website. They don’t disclose their trading conditions and there is also no demo trading account. This means that we cannot test things to find out how they works. As a matter of fact, this platform does not even give access to their trading platform. So it is difficult to even believe that these guys are running a brokerage business in the first place.

Trueoptions24

But let’s think positively and see what could be deduced from this platform as a positive thing. We discovered that they were offering binary Cryptos which involve Bitcoin, Ethereum, Bitcoin Cash, Litcoin and Dodge coin. Other trading instruments offered by TrueOptions24 are left to your imagination since the site does not disclose this kind of information and yet it is quite relevant in the context of the kind of service offered by them.

That brings us to this conclusion. If you like the idea of trading Crypto currencies, you should use a reliable trading bot for that. We have collected some of those robots here and you can utilize them to your advantage. 

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TrueOptions24 review

TrueOptions24 claims that they are regulated by the FCA in the UK and also the financial regulator in the US. This is a ridiculous claim because it cannot be verified. It is difficult to even assume that TrueOptions24 is a broker since they are completely anonymous and the company behind it is also anonymous.

We have checked both the registers of the FCA and the SEC in the US and found that this website does not exist in their files. So this simply means that TrueOptions24 is not registered with any of them. Furthermore, the SEC does not issue brokers with a license. Instead, brokers who target US clients or are based in the US are often required to be members of the National Futures Association (NFA). Being a member of the NFA is a privilege and only a few brokers can afford it in the US. The rest who claim to be members of the NFA are fraudulently making those claims.

One of the requirements to being a member of the NFA is that you should always maintain operational capital of about 20,000,000 USD at all times. In addition to this, Trueoptions24 has no authorization to allow US customers use their platform, not forgetting that they are also targeting clients in the EU while the European Securities and Markets Authority (ESMA) banned binary options back in July 2018.

For that reason, you should never use Trueoptions24. You can only use brokers who are properly regulated, and those have to be regulated by the FCA, CySEC, ASIC and the likes of the NFA in the US where brokers are required to be members of this body. By the way, this is the only way you can feel safe when you send funds to the account of your broker. There is no other way.

Trueoptions24 claims returns can be up to 1500%

There is no way you can invest so little to become rich overnight. If someone tells you otherwise, it is clear that they want to defraud you and Trueoptions24 is one of those entities that want to scam internet users. You can be sure that this is a scam.

On top of that, this is a scam because they do not provide information about their trading conditions. You must be aware that in binary options trading, returns can be considered attractive only if they are above 85% mark. To say that this site is offering 1500% is to make a fool of us.

And of course you can also see it in how much they are requesting for their minimum deposit. The site wants you to invest $500 as minimum deposit for their smallest account, i,e basic account. Some well established brokers require you to start with $100 or even less. So this is one evidence that Trueoptions24 wants to scam you big amounts of money. You cannot afford to test this service with a minimum of $500 unless you are willing to lose the $500.

Nothing scares us more than to imagine that we can send $500 to a broker whose background details are not available anywhere. And to make matters worse, they are not regulated but are claiming to be regulated in both the US and the UK.

Trueoptions24 does not provide access to their trading platform

This must be a stubborn scam because even when we try accessing the trading platform to get a feel of how things work, we are restricted from doing so. The only thing we are able to see is a tradingview chart and that’s all. This has led us to believe that Trueoptions24 does not even have a trading platform in the first place. Reliable brokers offer MT4 platform for trading.

Our best advice for you

You should avoid this platform at all cost because Trueoptions24 is not being honest with its target clients. Besides, they are completely anonymous. That means they are potential scammers. If you want a reliable broker, you need to consult this list of regulated and reliable brokers. There is no exception here.

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