TradeOption24 Review: Scam Broker

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TradeOption24 Review: Scam Broker

TradeOption24 ( is offering Bitcoin trading with a leverage of 1:10. Trade Option 24 is also having Binary and Forex trading services on their platform. An alert has been issued by a leading financial watchdog in Europe. TradeOption 24 is without a doubt another online trading platform which must be exposed. Victims are up in arms after Trade Option24 refuses to grant them withdrawals. And this is why the broker is a scam. Read this genuine TRADEOPTION24 Review for more.

TradeOption24 Review

About TradeOption24

Japan and New York cities are some of the locations where the broker claims to have offices. The United States is clear on binary trading; they have banned this form of trading. Apart from using false locations, a number of disturbing features arises. TradeOption24 is also claiming to be regulated by CFTC. The regulator is tasked with listing acceptable brokers and we doubt they have regulated this platform. Scam brokers will do or say anything to try and make their platforms appear legit.

Binary trading can be a lucrative form of trading in jurisdictions where it is allowed. The secret to a successful trader is using an approved broker. Having an accomplished broker will ensure no one else falls for this trap. They ensure members get the right signals to trade. TradeOption24 is offering binary trading services and yet, provide no signals. Other than offering false signals, the broker is not insuring deposits made. And this puts all traders at risk. It is best to stay away.

Assets Found on TradeOption24

TradeOption24 is claiming to offer Binary, CFDs, Cryptocurrency, and Forex assets. They claim to have competitive spreads and low spreads and a multi-platform technology. Advanced trading tools are listed to be available which is not the case. The minimum investment for binary options is $1. Trade Option 24 is claiming to guarantee a 95 percent return on all binary trades. These are over the moon claims and promises which will not help traders. Such a guarantee is not possible even with a trading robot.

Bitcoin spreads are better according to the broker. They claim to follow CFTC regulations on Cryptocurrency which is not the case. Commodities available on the platform include agricultural, energy, and metals. TradeOption24 is claiming to offer 10 of the most popular forex pairs. Stock indices are also on offer as the broker claims to offer unlimited buy and hold investing. These stock indices include FTSE100, NASDAQ, NIKKEI, among others. It is better to stay away from such a broker who fails to insure deposits made.

Business Owner

Apart from claiming to be based in Japan and New York, not much information is available. There is no mention of the founding or staff members available on the platform. And this makes trading with this broker hazardous. Anonymous online trading platforms are a risky affair and should not be condoned. Without the names of people handling funds, members are giving away their hard earned money. It is best to know who will be accountable if and when the platform goes under.

Domain Details is a website with over two years of existence. According to the trusted domain register, the website was created on 25th August 2018. And these are good enough reasons to stay away from the platform. With the broker having over two years web presence, they fail to have a license. They have been operating without a valid license which is a huge problem. Thanks to domain registers, one can know exactly when a website was created.

License and Registration of TradeOption24

TradeOption24 CNMV License Warning

The broker claims to be located in Japan and New York, they should be licensed by authorities. TradeOption24 is not LICENSED OR REGULATED to offer any trading regulations. They have been blacklisted by the Spanish regulator CNMV and a warning issued. The CFTC does not have any broker licensed or regulated under the name Trade Option 24. These scam brokers are using false information to try and fool investors. And this is why it is paramount the broker gets exposed.

Scam brokers will often use false claims to try and block prying eyes. It is best to follow up these claims with records from regulatory website. A quick search using CFTC and NFA register yielded no results of the broker. And this is proof we are dealing with a rogue trading platform. These are clearly rogue brokers who have no other reason to offer online trading services. Failure to have a proper license after two years is reason enough to stay away. These are offshore brokers without credibility.

Restrictions of TradeOption24

Account Types

From what we gather, TradeOption24 is furnishing traders with three account types. Accounts listed include Beginner, Intermediate, and Advanced. After signing up, the broker insists the traders must use either of the three accounts. No member has been given information regarding acceptable minimum deposit. And this gives the broker leeway to ask for any amount. The industry has set $250 as the acceptable minimum deposit. TradeOption24 is asking for higher amounts, some members deposited over $1,000.

Contact and Support

Email is not convenient as the broker may decide to ignore them. The phone number listed is a virtual phone number which means the holder is not in the States. Another issue we have with the broker is harvesting data using their contact form. Once visitors give their email address, the broker sells it to third parties. And this is when visitors start getting promotional emails from products they didn’t subscribe to. Stay safe and give out your personal details to trusted domains.

Deposit and Withdrawal

After signing up, the broker sends an email with a bank account number where users are to deposit funds. Without information present on account funding, the broker takes advantage of the situation. The bank account number is a personal bank account where investors deposit funds. And this is the main reason why no one is able to make withdrawals.

Trading Terminal

TradeOption 24 is a brokerage firm which is using a web based platform. These include having an unstable trading platform and unclear trading tools. The broker is using insane trading methods to fool investors with their terminal. Lack of proper security features is one of the main reasons to stay away. Hackers can easily take over the platform and steal credit card information.

Security of funds with TradeOption24

Without a valid trading license, it means segregation of funds is not followed. With members depositing funds with an unknown platform, funds are far from safe. These scam brokers are the reason why no one should sign up with the platform. A compensation plan is not possible as Trade Option 24 is not participating in a compensatory scheme.

Scam or Legit TradeOption24

TradeOption24 Trading Terminal

After carefully viewing all the facts, we now know why the broker is a scam. TradeOption24 is not licensed and is blocking withdrawal requests. Mark their emails as spam and don’t deposit any funds with them. Warn any family members or friends planning to open an account with the platform. These are offshore scam brokers whose intent is to steal from anyone who signs up with the platform. Steer clear of this platform and don’t sign up with their affiliate programs.

Final Thought

To keep our readers protected, we have to add this broker to our scam blacklist. These are scam brokers who have nothing else to do than steal from investors. Stay safe and use reputable brokers who have a strong online presence.

Become aware of online trading services by reading our detailed reviews. Stay safe and we wish you a safe trading experience.

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