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Option Wisdom Review: is It a Scam?

Option Wisdom Review: is It a Scam?

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Option Wisdom is a website dedicated to providing option trading signals based on statistical algorithms. The company offers options trading signals that they believe will help you transform into an expert trader.

They claim that the signals they provide will help you find out where the smart money is trading. This way, you will be able to identify exactly where to open and close trades.

Their trading strategy is based on identifying unusual activities in the market. They say that unusual activity happens due to smart money flow. Therefore, they believe that it is easier to predict future market events by detecting these unique activities.

Additionally, Option Wisdom provides educational material for clients to learn how to trade. They believe a combination of their trade alerts and their education makes the perfect recipe for success in the financial market.

Overall, this company seems legit. However, the question is, are they worth your money? Sadly, there are a few details that this company needs to improve on before we can place them among the best binary options signal providers.

Option Wisdom Review

The company’s website is professionally crafted and is very aesthetic. However, there are a few links that are not working. They need to fix that so that we know they are a serious company dedicated to providing professional services.

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Option Wisdom Review, Optionwisdom.com Platform

The first thing they tell you is to try their product via their free 14-day trial, and this is a great thing to see from a company. It means they are confident in the work they provide.

However, 14 days is a short time to test the full range of a product. Moreover, the trial package does not feature the company’s income-producing alerts. Therefore, this plan will not let you test the profitability of the trade signals.

On a good note, though, you can access the company’s education materials free of charge. All you need to have is a Vimeo account, and this is because all the videos are private, and you need permission to access them. We suspect they have a partnership with Vimeo, where they get a commission for the traffic they drive to them.

Additionally, the website features a How to Use Optionwisdom section. We reckon this is an essential feature for new clients, especially those that are novice traders.

Sadly, this section doesn’t cover much. It only tells you that it offers a 14-day trial, which we know from the home page. Additionally, they tell you that you will receive email alerts of their binary options signals. Now the question becomes, how does one apply these signals in their trading?

Membership Packages

The website features three main membership packages. These include the Bronze package, the Silver package, and the Gold package.

The Bronze package is their 14-day free trial package. It gives you access to their education system and access to their unusual activity alerts.

The Silver membership package costs $99 for one month. This package gives you access to unusual activity alerts, income-producing alerts, access to their education section, and dedicated customer support.

The Gold membership does not provide any unique feature from the Silver membership. The only difference is that this package lasts three months and costs $250.

These are moderately low prices. Now the question is, what does each of these features entail? Let’s look at that.

Unusual Trade Alerts

Option Wisdom says their expert analysts monitor the market to detect any unusual activity in live markets. They then provide a statistical directional strategy that pinpoints where the smart money is trading. It allows them to take advantage of large volume trades before the momentum shifts.

The best way to evaluate where the smart money is trading is by tracking unusual activity, which describes increasing daily volume that is out of the ordinary. Option Wisdom says this is worth paying attention to if you want to succeed in trading.

Income Producing Alerts

Once you sign up to become a member, you are added to a mailing list. The company will send you specific signals that tell you when to open a trade and when to close it. They promise to send you between 3 to 5 trading signals per week. Additionally, they say you will receive weekly risk analysis that describes open and closed positions recommended by their trade alerts.

An exciting part of the strategy they use to generate alerts is a credit spread strategy. This strategy allows you to create profits and protects you from unfavorable moves in the market. They use the standard approaches, which include the bull put and the bear call credit spreads. Each of these spreads allows you to receive profits and cap your losses.

Access to Education Section

The education section covers the strategy the company uses to generate trade alerts. They promise to teach you the market setups to look out for to identify the direction the smart money is taking. This section is not limited to only paid memberships. You can as well access this section through the free 14-day trial package.

Dedicated Support

The company vows to provide world-class customer support to their paid membership clients via the private helpline at the member’s area. Additionally, they offer a dedicated email address that clients can use to reach them 24/7.

Founder and Contact Information

The founder of Option Wisdom is David Becker, who allegedly has more than 25 years of options trading experience. David provides the content for Option Wisdom, which includes the criteria behind the options trading information and the educational material.

Additionally, the company provides several channels that you can reach them through. You can get in touch with the company via phone on 866-862-8616 or via Skype on optionwisdom. Additionally, you can reach the company by filling out a contact form featured on the website. You call the company on Mondays to Saturdays, from 8:00 am to 5:00 pm.

It is refreshing to see a company that is transparent on who runs the operations and how to contact them. Moreover, they do have dedicated channels for their paid clients to reach them.

Domain Insight

The official domain for Option Wisdom is optionwisdom.com. It was registered on the 25th of January 2017. It is set to expire on the same date in 2022, and it signifies that the company is planning to stick around for long, which is refreshing to see.

However, there are a few links on the website that do not work. For example, there is a link for a video that will allegedly show you how their products work. But, this link does not take you to a live page. We would love to see them take care of this detail on their website so that we know they are professionals.

Final Verdict

This company seems legit. However, we cannot recommend it to you at this point. There are a few loopholes that make us worry about the quality of the products they provide.

They admit that their trading strategy is not 100% loss proof, and then they distance themselves from any losses you make in their disclaimer. It shows they do not have much confidence in the trading signals they provide.

We believe that there are better companies that will offer you better trading signals at better prices. Our advice is you stick to the best binary options signal providers that have been tried and have proven to work.

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