Lite options (lite-options.com) is a binary and CFD broker scamming millions of people. From what we’ve gathered, more and more people will continue losing with LiteOptions. Fake promises are what’s luring most people into this platform. Promises such as earning up to 95% in 60 seconds is simply unimaginable. Most investors fall into this trap because it will bring acceptable ROI. Read this full review and find out more.
One having a close look at their homepage, you will see a clear feature message. Users are informed that Lite Options deals with classic currencies and crypto. Investors are also guaranteed that this platform is regulated and withdrawals take less than an hour. Is this really true? Can you really invest in a platform and earn up to 95% in 60 seconds? As Forex investors with years of experience, we don’t believe this to be the case.
Live managers are also a concern with LiteOptions. According to the message board, live managers will help members succeed. With Lite Options, there are over 100 assets available for trading. Homepage clearly puts it that traders can trade from any device at any time. What’s more interesting is that they offer video chats. Problem with this claim is that no one has managed to talk to a live person. Read on to find out dirty tricks used.
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From their homepage, you can easily see facts listed. According to Lite Options, there are over 5805 accounts in the system. LiteOptions has apparently traded over $4,522,899 in trade volume. Monthly payments made are over |$462,936 and processing time to withdraw is 56 minutes. Folks, these are all lies since no one has ever withdrawn with Lite Options. No single positive comment or review has been written regarding this Binary broker.
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It begs the question, why use such big terms on their homepage? Scammers use information such as high trade volumes to lure unsuspecting binary investors. If investors see that the broker is having a large trading volume, it means that the broker is legit. Always know that scammers can easily put numbers on their website to make them look real. Plus, there’s no way of validating or confirming their trade volume.
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Here’s a bummer, Lite Options apparently gives members the possibility to trade over weekends. And this is where we catch these fraudsters. All markets are closed during the weekends, no matter which market niche one uses. It’s a rule of thumb that markets should be closed on Friday’s and opened early Monday morning. How then is Lite Options able to trade during the weekend?
It’s simply a ploy that scammers use to ensure they stay attractive. Not all investors know that the markets are closed during the weekends. Investors may want to sign up during this time as some are free during the weekends. Fraudsters want to cast a wider net to catch as many potential victims as possible. What best we can do is tell you nothing but the truth and urge you not to sign up with a broker who claims to trade during the weekends.
Lite Options apparently rewards traders with bonuses to initial trading deposits. Bonus amounts will heavily depend on the amount an investor deposit. Bonuses are can reach up to 100% with LiteOptions. Members who make a $250 deposit get a 20% bonus which translates to $300. $1000 deposit earns you 50% bonus totaling your money to 1500. All these sounds good for a broker platform, right?
Always know that bonuses are strictly prohibited when it comes to binary options trading. Regulatory bodies have halted the use of bonuses since they are used against members. How are bonuses a disadvantage to members? Withdrawing becomes a huge problem since brokers ask for their bonuses back. Investors will never withdraw entire sum of money without having to pay back bonuses. Why then issue bonuses in the first place?
Another disturbing factor we discovered with Lite Options is their demo account. Never have we seen a demo account that has been rigged. LiteOptions is the first of its kind. Demo account is rigged in your favor to make only successful trades. It’s a ploy these scammers have used to make investors believe they can really make profits with Lite Options. It’s a clever way of luring more potential investors into signing up.
After signing up and opening a demo account, we realized that it was making unusual trades. Placing the wrong trades was what we did intentionally to test this platform. Even after placing the wrong trades which normally would make us lose, this demo account made only winning trades. It made us question everything we knew about LiteOptions. None of us believed that this was going to be the case.
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Another fake tool Lite Options is selling is their copy trading tool. According to LiteOptions, they have a copy trading tool where members can copy trades of successful traders. All these would be great if they worked. Later on, we discovered that these so-called copied trades were months old. It means trades are heavily relying on past data which is dangerous. Best thing a trader should do is learn the ropes or use trading robots.
Lite Options offers traders with three different account types. Members can choose from Bronze, Silver, and Gold accounts. Bronze account holders get features such as 24/7 live video support, copy trading tools and 20% bonus. Silver account holders get bonus of 50% and first three risk free trades. Gold account holders get 100% bonus and first three risk trades. Note that all these are gimmicks to lure you into signing up.
Lite Options is definitely a scam binary options service provider. Not to mention, LiteOptions is also a fake Crypto broker out to get your money. No one has succeeded in making any headway with this platform. In fact, all you can get from the web is people who have lost money with this fake platform. Best thing you should do is stay away from it.
Describing it as a failed broker is an understatement, this is a professional scam outfit that should be prosecuted. We are urging relevant authorities to look into this fake broker platform. From the evidence produced, we have no other option but to blacklist Lite Options.
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