We are reviewing Forxoption because it is directly related to another scam broker called Netexoption. Netexoption is a Binary options brokers offering CFDs in Forex and Crypto currencies and Forxoption is either owned by this company or is related to them in some way. Forxoption has also copied texts from Netexoption and pasted it on their site, a sign that the admin of this website is extremely lazy and not keen on converting clients who come to their website. Moreover, the site has highlighted some weird numbers on their site that represent return on investment when traders invest with the site. It is not clear whether Forxoption is trading on behalf of their investors or letting investors trade on their own by giving them access to a trading platform and market data.
In another section of the site, they claim that they are offering free demo for their clients to test their service. However, on the top of the homepage, things are different since the brokerage has listed returns on investments which can be gained after a specific period of time. This suggests that they are accepting deposits from investors and trading the funds on their behalf. Forxoption is announcing weekly returns of between 110% to 278% which are obviously not realistic as far as trading is concerned. By the way, this site appears to be a full blown scam and there is no doubt at all that they have weak credibility.
Since the site appeared on the internet, they have not received any customer feedback yet. It appears that nobody has ever gotten convinced by the scam to invest the amount which they are requesting. With regards to trading on the platform, we would like to see if we can gain access to their alleged trading platform since the website claims that they have a free demo where we can test trading conditions and many other things. At this juncture, we already know that Forxoption is a scam and if you came here looking for a reliable broker, you must not invest with this one because not only will you lose your money, but you will also discover that investors are not allowed to trade since the company does not offer a platform for doing so.
The website promises fast and secure withdrawals, hourly sales payments and 24/7 customer support. They are requesting a minimum deposit of $250 which is comparatively high if you consider that licensed brokers who have a credible reputation are actually letting traders to test their platform with as little as $50. You cannot try a service that is obviously a scam with this much. In fact, this is a big discouragement to potential clients who might be looking for places where they can be allowed to deposit less and start trading.
Forxoption is also anonymously operated. The website does not list its operators, its location, contact information and many other pertinent information. This is clearly a sign that the brokerage is operated by a scammer or scammers for that matter. It is a sure red flag because professional brokers who are regulated and required to list down this information on their site. If they don’t, they risk losing their licenses. But this scam is clearly operating illegally and targeting clients who are countries where this kind of operation is licensed.
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By the way, this scam claims to be CySEC regulated but we can’t seem to find any evidence of the same. They have a wall of text on their website where they describe how their service is regulated. However, we cannot find their license number on the Cysec website. This broker is literally anonymous and hell bent to scam internet users.
We must also say that their about us page is quite vague as it does not go into the specifics highlighting the background of this website or company. They don’t mention their location and other important information yet this info should appear on their about us page for easy reference.
This broker claims to have been around since 2014 but you have to understand that they are using fake endorsements to deceive internet users. None of those badges can be clicked. And even if you click them, they lead to nowhere. That means there is no proof that this broker was endorsed anywhere.
The second most disturbing problem is the claim that they have been existing since 2014. We know that this fake broker came into existence late last year. There is no way these endorsements could have happened when they did not exist back then. This is clearly a marketing tactic that is meant to mislead investors into thinking that Forxoption is a reliable broker. You have to learn to spot the fakes and avoid them altogether.
There are many reasons why you cannot sign up with this broker and escape without getting scammed. First of all, it is not clear what service they are offering. We do not know whether Forxoption is offering portfolio management services of brokerage services where users get to trade currencies and Cryptos on the MT4 platform.
The second reason is that they are lying that they are regulated. Of course this information is easy to verify. They cannot persuade anybody that they are regulated when all it takes is a click or two of the mouse to discover the truth.
The third reason why Forxoption is definitely a scam is because they are associated with another scam broker who is operating in a similar way to them. In fact, these two sites are owned and operated by the same scammer. So you can imagine that the scammer is so greedy that he is willing to set up many websites for the sake of making a lot of money.
When you are looking for the best broker, you know where to search. Avoid scams at all cost. They will waste your time and money. Then you will end up with disappointments.
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