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Here’s our candid Optionsfxtm.com review that exposes why Options FXTM is a scam broker. Those who have invested with the broker are crying foul. It turns out the broker is all talk and no results.
Our OptionsFXTM Review also exposes how this broker defrauds members. The broker will block withdrawals and later delete your account logins. Please find out more in our exclusive OPTIONS FXTM REVIEW.
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The homepage is a great example of an easy interface. It goes to show the people behind this store have some experience in the field. All information needed is listed on the homepage. Optionsfxtm.com gives members all conditions before signing up.
And some of these conditions make the broker a high-risk investment. An excellent example would be the high maximum leverage of 1:500. That’s way above the industry recommended of 1:100 for trading assets.
Despite the broker claiming to offer ultra-low spreads, that’s not the case when you sign up. The spreads are, in some instances, fixed and others variable. It all depends on the trading commodity on the line.
There’s no background or history of the broker anywhere on the planet. And that makes optionsfxtm.com a dangerous broker. You would expect some accountability and transparency from the broker.
With the brokerage account already seen by most professionals, it becomes easy to fool investors. You get a feeling of signing up with a broker offering fair conditions. The welcome deposit depends on your wallet.
However, the broker will insist that the more you deposit, the higher your chances of winning. The broker claims to have account managers ready to take over the trading process for newbie investors.
Once you let the broker take over, it means having access to your account balance. And that’s when the managers start making trades that don’t make sense. Even if your profit from the trades, withdrawal is a problem.
The broker blocks these attempts when members decide to cut their losses and withdraw the balance. Then, you start making excuses as to why withdrawing funds is impossible. Finally, the broker even claims your bank is not accepting their payment methods.
It seems the broker offers a single account for all investments. In addition, the broker promises tighter spreads and faster execution. Spreads start from 0.0 pips, with the broker promising no dealing desks and no requotes.
Each account holder gets to trade over five trading assets. In addition, the broker promises global market access 24/7. Members also get a promise of having multilingual support and trade-on-the-go apps already available.
The broker claims to have over 40 international awards with ten years of trading experience. All these are false narratives meant to drive investors to sign up with the broker. All you need from the broker is accountability and transparency.
From what we can see, the broker is not entirely correct regarding fair trading conditions. Therefore, we would not recommend engaging with a broker offering high leverage. However, regulators all over the world agree to maximum leverage of 1:100.
In the United States, retail traders enjoy maximum leverage of 1:50. High leverage puts your trading position at risk. You don’t even get the chance to trade comfortably. Only the broker receives profit through trading commissions.
Opening an account with the broker is fast, as members only must fill out a short form. After the initial account opening, the broker gives you funding methods. You can then start trading and eventually earn with the activities.
Once you withdraw funds, the broker will want to verify your account. You get a request to upload documents, including a copy of your ID, bank statements, and credit card information.
We don’t understand why this broker would want to use such methods. These days, brokers use a two-factor authentication process. So you can’t be too careful with whom you share your documents.
The broker promises segregated client funds, but that’s not the case. An unregulated broker means the broker doesn’t offer insurance cover for deposits made. Your investment is at risk with a broker who fails to follow the rules.
We also understand the broker holds all accounts in a single bank account. It means segregation of funds is out of the question. There’s no stopping the broker from failing to offer much regarding what to do with funds.
The broker may decide to use the funds for personal use or for other investments. If the assets go under, so do your funds with the broker. Regulators are not there to cushion such as the broker remains unregulated.
Without the segregation of funds, the broker is no longer attractive. We also see the broker not having adequately secured the website. There’s no DDoS protection or SSL encryption. And that’s a shot in the arm for members.
There are various false claims to lure investors into believing this is a reputable broker. These include awards from international bodies, which the broker fails to mention. In addition, the broker claims to have been in the industry for over ten years, but that’s false too.
We have a broker who will do or say anything to try and make investor sign up with the platform. Those who have invested with the broker know all too well the consequences. Furthermore, Options FXTM is an anonymous broker.
One would think the copy trading feature would be a crown puller. The fact that members lose after copying trades from ‘experts’ on the platform is abysmal. It goes to show their copy-trading techniques are false.
Those who copy trades don’t know the accuracy of these signals. The broker doesn’t even manage to offer demo accounts for this. It would help to ascertain the accuracy of these copy trading signals.
There are several methods for funding accounts on the platform. These include bank and wire transfers. However, it remains unclear whether the broker accepts crypto payments. After depositing funds, the balance appears in your member dashboard within 24 hours.
You can then start trading with the results reflecting on your account balance. After a while, you will want to withdraw funds. The broker claims the withdrawal takes three days to complete. Three weeks later, there was no word from the broker.
Optionsfxtm.com is not a compliant forex broker and fails to have any documents to support licensing. And this puts your investment at risk as the broker is also anonymous. So you must stay away from the broker or risk losing it all.
Go for brokers licensed by local or reputable regulators. Some reliable regulators include Asic, BaFIN, CONSOB, CySEC, FCA, and the NFA.
Please stay away from this broker. Chances are, the broker will likely take away your funds. Furthermore, there’s no proof of investors earning a single cent from the brokerage.
PS: Invest in credible crypto investment options.
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