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FlexiOptions (Flexioptions.com) is a ferocious Binary options and Forex scam broker to hit the lucrative trading world. With claims of offering expert financial advice, FlexiOptions is nothing but a platform being run by scammers. After receiving numerous complaints from users who have lost funds with this broker, we decided to investigate. Most of the users were scammed immediately they deposited funds. Read this detailed and honest FlexiOptions review for more.
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A great number of newbie traders and online investors had signed up with this platform. In order to get to the root cause of their worries, we had to visit this homepage. And it’s clear why most newbie traders signed up, this website looks legit at first glance. There’s a reason why these scammers have created such a compelling website. They want to grab your attention with images and hide the truth from you. This is what scammers are all about, hiding in plain sight.
Thanks to our years of experience, we have ways and means to spot scams from afar. FlexiOptions is no different as they have used the same tactics used by other binary scam artists. To begin with, these scammers have made sure they can’t be reached. There’s no live chat which means communication is one way, users have to send emails. Another disturbing feature with their platform is how well they have managed to remain anonymous. Who are the people behind Flexi Options?
Disclaimer at the footer of the homepage does not give a clue as to who the actual owners are. For all we know, this could be a brokerage site based offshore, which is even worse. Offshore brokers are known to openly break set rules and regulations, especially when it comes to withdrawals. These scammers have gone a step further by hiding the whereabouts of this platform. Where is FlexiOptions really located or their home address? Isn’t this weird?
How can a broker who is offering Binary options trading services fail to give out their contact details? Who are the people who are running this website? Is FlexiOptions made up of Forex professionals or IT experts? Why have they failed to give us the actual names of people running this website? This is truly a rogue Binary options signal provider. These are questions we need answers to. Make sure to stay away from this broker due to their anonymous nature.
There’s no way a company whose identity remains a secret can have licensing or registration credentials. No sane regulatory body can issue a trading license to a broker whose identity is a mystery. Why have they failed to post any of the required licensing details on their homepage? Does FlexiOptions have any documents to prove they have been licensed by an official regulatory institution? Lack of these documents is proof we are dealing with a fraud.
A good reason why this broker fails to have licensing credentials is probably where they are based. This could be an offshore broker who will fail to get license to trade. These offshore brokers can’t pass the standards required to get a full trading license. And this is why they have chosen to remain anonymous. An anonymous broker can claim to be registered in the EU region or even the U.S. Lack of proper identification is a main concern with FlexiOptions.
FlexiOptions offers three different account types to choose from, Starter, Basic, and Pro. Minimum acceptable deposit to start trading with these accounts is $500, $2,500, and $5,000. This is way too high considering the industry acceptable standard is $250. This broker wants to trap as many investors as possible with their incredibly high depository requirements. This is another trick used to trap high end binary options investors. Be sure to be on the lookout.
Another disturbing feature we noticed with these accounts is how they are almost similar. There’s no visible difference when it comes to account advantages and features. Notice these accounts come with a welcome bonus? Now this is where the scam gets interesting, these scammers will ask for their bonus back later on. This is what most traders are lamenting on as they are being asked to deposit more funds. This is to cover the bonuses listed on the accounts.
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When it comes to account funding, scammers always make sure depositing is easy and fast. Funding options include American Express, MasterCard, PayPal, and Visa. Although we are not sure whether PayPal accepts Binary Options deposit funds. These scammers will ask users to deposit funds and go into hiding. Investors will receive calls from an agent later and asking users to deposit more funds. In case you get the call, male sure to ignore their pleas of depositing.
Withdrawing funds with this broker is what most traders have a problem with. No user has been able to withdraw funds with this broker for one reason or the other. When withdrawal requests are made, this broker goes into hiding. An agent will call and claim your request could not go through for simple reasons. A reason they are giving users is lack required trading volume to warrant withdrawal. In order to reach their trading volume, users are asked to make more deposits.
With this anonymous broker who has no licensing documents, security of funds is not guaranteed. Make sure to stay away from any broker who shares the same characteristics as Flexi Options. Their homepage lacks valid documents page or legal agreement page. How do they handle money deposited by investors? Which bank do they use to deposit funds sent by investors? This is clearly a thought out plan to steal from investors, beware of such brokers.
When it comes to segregation of accounts, this is another red flag. This broker does not separate accounts which mean they are pooling funds in one account. This is clearly a breach and may cause serious damage in the long run. In case FlexiOptions faces insolvency or goes bankrupt, all funds will be lost. Users should not forget this broker does not insure funds, no compensation should be expected. Did you know investors are depositing funds straight to owner’s personal bank account? Now you know!
Without a shadow of doubt, we are dealing with a rogue Forex broker who has scammed hundreds of investors. From lack of proper licensing to being anonymous, FlexiOptions is a clear scam. Make sure to avoid it by warning your family and friends about this broker. Mark all their emails as Spam and never click on any links sent by them. In case you receive calls from their agents, don’t give out your personal details. These details are used to scam other investors.
As a measure to protect our readers from this scam, we have to add it to our scam blacklist. With this done, authorities will be prompted to investigate and shut this whole website down. This is the only viable way to ensure all traders are safe from this scam. Stay safe by trading with industry approved and vetted Forex brokers at all times. This is the only way to make money the right way with the right partners.
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Finally, we wish you all the best in your trading.
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