BigOption Review – Good Broker or Scam

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BigOption Review

BigOption

Reason to avoid: Offshore License

Listed Date: November 30, 2020

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Beware BigOption is an Offshore-Licensed Broker. It is NOT SAFE to trade.

Company name:

Wirestech Limited (BigOption).

Registration Address/ License:

Marshall Islands. Broker with Offshore License and No Regulation.

Wirestech Limited is the company that claims to be based in the Marshall Islands and run trading brand BigOptionwhile that offers binary options trading, as well as other derivatives investment opportunity.

In fact, Marshall Islands is an offshore zone attracting various firms that for the reason or another escape from the serious regulation or compliance to international service providing. However, in the case of the financial investment or trading firms, the company should be a very respected entity, as the statistics show that the majority of non-authorized firms never recovered the sums of investors investments. Therefore, we always advise avoiding offshore or companies with no license as there are too many frauds around.

In the case of the Wirestech Limited (BigOption), the broker also has appeared in the supervisory authorities of Ontario and British Columbia back in 2020 with the subject of a warning to the investors. While the European authorities warned potential clients and resident about the company offering too, meaning the firms was blacklisted almost by every regulatory entity.

“The Financial Services and Markets Authority (FSMA) warns the public against the activities of Wirestech Limited, trading under the name BigOption, a company that offers highly risky investment instruments in Belgium without complying with Belgian financial legislation.”

At the glance appearing various companies that propose potentially high incomes with ease and convenience, yet the trader should check first if the broker complies with the financial legislation in order to avoid frauds. Therefore, we also advise choosing among the firms with authorization status that been received from the major regulators from around the world.

72Option Broker Review

With binary options trading experiencing one of its most important growth periods, brokers and trading platforms are coming into the market in numbers never seen before. Reviewing them is perhaps the best way to separate the wheat from the chaff. 72Option is a fairly new binary options broker that has been very visible in recent months. As a trader, you will find this broker has an exciting new platform to trade from. The broker has a wide asset index like IQ Option has as well as an enhanced customized service policy. It looks like a professional service. Test also the Option Robot for automated trading!

Features of 72Option Trading Software

This broker uses the SpotOption trading platform. It is one of the most popular trading platforms among all the best binary options brokers in binary options. This platform offers a wide variety of trading options giving traders a wide choice of options that they can trade with at any time. SpotOption supports many of the leasing brokers and it’s no surprise to see that it’s attracting new brokers as well. With SpotOption, traders are assured of a smooth trading experience especially with all the improvements made in recent updates.

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Payouts

The payout that a broker offers traders is a crucial factor when looking at the worthiness of a broker. People trade in binary options for the return on investment; all other features are supposed to complement these returns. 72Option offers a maximum payout of 85% per trade. This payout is not standard for all trades. Some assets will have a larger payout than others. As a trader, you may want to look for the assets that suit you and your trading strategy.

72option main page

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How to Make Money with Binary Option Robot

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Claim your free binary option robot, get started with three easy steps:

  • Name of Robot
  • Min. Investment
  • Min. Deposit
  • Rating
  • 1. Your Binary Option Robot will analyse the market and decide, which asset (currencies, indices, commodities and stocks), is right to trade at that point in time.

    2. The Binary Option Robot Will Predict the Price Movement

    Your robot will assess a wide-range of factors, and then make a prediction on how the assets price will move, saying: Call (up) if it believes the price will rise and Put (down), if it believes the price will fall.

    3. Decide on how much you want to Invest

    Then you need to decide how much you want to invest in the commodity and when that investment will expire.

    4. Collect your Earnings

    Finally, you collect your earnings (the good part!)

    TABLE OF CONTENT

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    Customer support

    Traders in binary options are increasingly viewing the level and professionalism of a broker’s client support as one of the main features to look out for when they are selecting a broker. 72Option seems to have a good customer support system. The staff helping you out are knowledgeable and helpful. They also respond quite efficiently especially when you are seeking assistance through the live chat feature. We can only hope that the standards don’t drop as time goes on. With this broker, traders have the option of contacting the helpdesk via live chat, email or telephone. For email queries, the response is usually within one or two days. Currently you can obtain help if you use any of the following languages: English, Italian, German and Chinese. With the expansion of binary options across the globe, 72Option will have no choice but to expand on these languages.

    Banking

    For security and verification purposes, you will need to send some ID verification documents for the deposit and first withdrawal. The best thing to do, is to send the documents straight away to avoid delays in future deposits and withdrawals. If you want to make a deposit, you can use any of the following accepted cards: Delta, MasterCard, Visa and Maestro. Bank wire transfers are also accepted. Net Wallets are not accepted by 72Option. The minimum initial deposit with this broker is $250. For withdrawals, the broker restricts traders to a minimum of $100 if you wish to withdraw using bank wire transfer, or $500 if you want to withdraw by credit or debit card. Withdrawals here take a little longer to be processed; five to seven business days. This quite a long period considering most brokers are aiming for a one or two day wait for withdrawals.

    Bonuses

    All brokers in binary options give bonuses to traders. 72Option give a signup bonus. It is given to all traders who make a deposit into their new trading account. The percentage of the deposit that you will receive as a bonus will depend on the amount that you posted as your deposit. For large deposits, $10,000 or more, the bonus will be 100%. There is also a refer-a-friend bonus of $100 every time a trader you have introduced to 72Option brokers opens a trading account.

    While bonuses are good and give the trader an extra amount to trade with, they almost always come with stringent conditions. For 72Option, you must trade the amount equivalent to your deposit at least 30 times before you are able to withdraw your profits from trading these bonuses. It is good to study the terms and conditions regarding bonuses so you can decide if you want to accept them or opt out.

    72option trading system

    Four Different Option Types

    Call and Put Options

    This is the basic binary options trading option. It involves a simple prediction, whether the price of an asset will rise or fall within a specific time frame. Here, a trader will buy a “call” option if they predict that the price of a specific asset will rise. If they predict that the specific asset’s price will fall, they will buy a “put” option. The trader will then select the time period in which they think the price will have changed to their prediction. This is the expiry time. A stake in monetary terms will be put forth for this trade. The trade matures when this time expires and the trader either wins a return or loses his entire investment.

    One Touch

    This is an option with very high returns, 72Option offers payouts as high as 720%. This makes it the one option that commands the highest earnings per trade. The reason why this payout is so high is that the chances of being ‘in the money’ with this trade is significantly lower than in the “call” or “put” options.

    60 Seconds

    This option is different from the “call” or “put” option in that the trader is required to select the specifics of the asset, the amount and then the direction of the price. It has a predetermined expiry time of 60 seconds hence the name. It is very popular with traders because it is specific, it is quick and it is quite simple.

    Option Builder

    Here, traders have the privilege of determining their own ratios for profit and loss. It is a little more complicated but experienced traders like it because they can assume full control over their trades and their execution.

    The Range of Expiry Periods

    72Option also provides a total 10 expiry periods within which traders can base their trades on. These periods are:

    • 30 seconds
    • 60 seconds
    • 90 seconds
    • 2 minutes
    • 5 minutes
    • 15 minutes
    • 30 minutes
    • 45 minutes
    • 1 hour
    • End Of Day

    72option profits

    Mobile App

    With more and more people using mobile devices for their internet access for business and personal matters, it is inevitable that modern binary option brokers have applications that enable traders access to their accounts via smartphones. 72Option have developed their own app which is available on iOS and Android platforms. With these apps, traders have full access to their trading accounts including receiving option signals, selecting expiry periods and executing trades. Traders all over the world will have real time info on mobile devices and they can now trade wherever they are and at whatever time they want.

    Account Opening at 72Option

    Opening a trading account has never been easier in binary options. With the 72Option broker, you will have your account up and running within minutes. On the first page there is a form that you need to fill out with your contact details. You will then customize your account by defining aspects such as the currency that you will use to trade, and the options you will use for making deposits and withdrawals. You will also make your minimum deposit which in this case is set at a minimum of $250.

    Free Account

    72Option is free to trade with. To make trades with this broker, you need an account. What will not be needed from you is a fee to open the account. Apart from the initial deposit, which is your money anyway, you will not be asked to part with any more money to open, maintain or update your account.

    Training

    To be a good trader, you must keep making an effort to improve yourself in terms of information, strategies, updates, interpretation of signals and the execution of trades. 72Option makes this possible by preparing and disseminating among the traders, information that is reliable, timely and helpful. Traders can use the available resources to improve themselves so that they can be more profitable in the binary options market.

    With 72Option, there are direct training sessions with professional traders, market analysts, and other experts in binary options. These sessions are to help traders gain skills and knowledge. This training is especially essential for beginners. It will help them find their footing in the confusing world that binary options can be. There are also live webinars where traders are invited to learn about general information on binary options and how to make it work with 72Option brokers.

    All traders are allocated a personal account manager. Their work is cut out for them, especially with beginners who want to learn as quickly as possible so that they can start trading seriously.

    The Asset Index at 72Option

    72Option has more than 120 different assets that traders can trade with. It will be up to the trader to find out which assets work out best for them. The beauty of a wide asset index is the freedom to choose which asset to trade with at any time. The assets are in the main indices, the most profitable commodities, currencies and the main global stocks.

    Strategy Advisor

    To succeed in binary options, traders need to use a wide range of trading strategies. Some of them they will formulate for themselves as their experience in binary options expands. Others will be provided by the broker. 72Option has a strategy adviser in their system. It is a series of charts and graphs that help the trader determine the best strategies for all trades that they make. Taking advantage of this tool is good for the traders because it is based on live charts in the financial markets.

    Signals

    Trades will not be successful if they are not backed up by great signals. This means that your broker must be able to generate the best signals. 72Option has been found to have an accuracy of 70% to 75%. This is not the best in the market but it is impressive all the same. Although the broker does not prevent any trader from engaging an independent signal provider, if they think it will be beneficial to them, traders here will be unlikely to need to engage the services of independent signal providers.

    Support for Beginners

    As is the case everywhere, experience will help you make higher profits than someone who is not experienced. For beginners, it may seem a little rough in the beginning. This broker welcomes beginners with open arms. This is because they realize that a well natured novice turns into a very good trader, with time. The training facilities this broker has are modern and streamlined to meet the demands of the modern binary options trader. The presence of an account manager solves a lot of problems for the new trader. This is because they hold the hand of a new trader and guides them to experience and profitability.

    Conclusion

    72Option looks like it will be a good binary options trader in time. Being new, the signs are there, but they are not conclusive enough to declare it a great broker that you should make your investments with. This broker should be given more time so that they can prove themselves in this competitive market. The fact that they do not have a demo account is a little off-putting, especially for beginners. A dummy account to make their baby moves with before they move to make real money trades is a big drawcard for a novice.

    What you should do now is to opt for Binary Option Robot as your broker. This is because they are experienced, reliable and have a good track record of having a good return on investment for traders who have opted to use them as their broker. With a trading system that is already successful in the binary options market, you will not go wrong with Binary Option Robot.

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    IQ OPTION Review 2020

    Last updated: October 8th, 2020

    Is IQ OPTION a scam OR one of the best trading platforms in the world ?

    Table of Contents

    Don’t sign up before you read this IQ OPTION review

    Me and my colleague have performed a thorough IQ OPTION review, without the broker knowing it of course.

    Here is our true experience!

    • Forex + FX Options + Binary Options+ Crypto
    • Min. deposit only $10
    • Large community of traders who interact
    • Very user friendly trading platform
    • Easy to use
    • Good customer support
    • Demo account free
    • Many local payment options for your country
    • Islamic account available
    • No VPS
    • No MT4/MT5
    • Slightly more expensive
    • Not accepting USA traders
    • No Bonuses

    Broker’s Rating:

    **Your capital might be at risk.

    Details about this broker:

    ✅ Visit broker
    ✅ Name of company IQ OPTION
    ✅ Trading platforms + Forex Trading Platform
    + Binary Options Trading
    + Cryptocurrencies Trading
    + CFD on Stocks, Stock Indices
    ✅ Forex pairs available 22 currency pairs available !!
    ✅ Minimum first deposit $10
    ✅ Max. leverage 1000:1
    30:1 for E.U. clients
    ✅ Languages available English, German, Espanol, French, Indonesian, Italian, Portuguese, Swedish, Thai, Chinesse .
    ✅ Max payout if winning for binary option trades 92%*

    * max.payout in case of a winning trade ✅ Time frames to trade via binary options 30 Sec, 60 Sec, 2min, 5min ✅ Type of digital options Call/Put, Turbo ✅ 1-click trading YES ✅ Demo yes with virtual $10.000 ✅ How many instruments are available 78 (forex 22 pairs, stocks, commodities) ✅ Established 2020 ✅ Webinars / Education yes, slowly adding more and more ✅ Regulation yes regulated ✅ Account currency EURO, USD, GBP ✅ Payment methods Visa, Mastercard, Giropay, Sofort, Skrill, Neteller, Webmoney ✅ LiveChat Yes for real clients ✅ Customer support email / LiveChat (for VIP clients, direct telephone line) **Your capital might be at risk

    IQ OPTION trading instruments

    The investor initially has a choice of 79 trading instruments in the following categories: commodities

    1. foreign exchange (forex)
    2. binary options (not for EU citizens)
    3. forex options
    4. crypto currencies
    5. indices
    6. equities (stocks)

    While gold is the only one commodity and only six different stock indices are offered, the selection for the other two categories is significantly larger.

    Even if one or the other may find this selection too small, our experience has shown that the values ​​for the trade seem to have been carefully chosen. With the exception of indices, 24 hours a day trading is possible in all categories, with at least one asset from a specific sector being always available in the equities category. Thus, strategies that focus on a specific economic segment are very well possible.

    **Your capital might be at risk.

    1. FOREX TRADING

    A quick glance at the foreign exchange offer: All combinations of the majors and some other currencies such as the New Zealand dollar, the Russian ruble or the Swiss franc can be traded here. There are a total of 22 pairs are available.

    IQ OPTION offers you the opportunity to trade a total of 22 currency pairs. You have at your disposal not only the major currency pairs (EURUSD USDGBP, etc.) but also some smaller world currencies such as the New Zealand dollar, Russian ruble which can also be traded in combination with major currencies €, USD, British pounds etc.

    2. BINARY OPTIONS

    As the name of broker implies, IQ OPTION started as top notch binary options brand but has quickly turned into global trading brand (not only binary options but all kinds of trading instruments!

    You can choose between two types of trading, as is the case with binary trading:

    Put options and call options

    Traders can use put options to speculate on falling prices, and use call options to bet on rising prices. Turbo options with particularly short expiration time frames with durations of 30 and 60 seconds are also available for trading, but due to the associated high risk, they are more suitable for more experienced traders.

    Time Frames

    The following time frames are available for binary options platform:

    • 30 seconds
    • 60 second
    • 2 minutes
    • 3 minutes
    • 4 minutes
    • 5 minutes1
    • 5 minutes
    • 30 minutes
    • 60 minut es
    • 24 hours
    • 7 days
    • 30 days

    Particularly noteworthy is the fact that investors can also trade on the weekend when the regular trading venues are closed. For this, IQ Option offers OTC trading. This abbreviation stands for “over the counter” and means that trading takes place directly between the parties, ie between the broker and the investor, outside the regular stock exchange. Interesting are the regularly organized competitions in which traders can compete against other traders.

    As of 2nd July 2020 ESMA European Union has forbidden the trading of Binary Options to retail traders who are European Union citizens.

    3. FX Options from IQ OPTION

    A brand new offering that was recently added into portfolio of trading instruments.

    FX Options are basically a combination of real option trading and forex trading.

    Why is it better than binary options ?

    • there is not anymore “0 or 1” OR “earn something or loose all” principle – meaning even in case you dont guess the trade right, you will not lose the whole amount you put at stake !
    • earning potential in case your assumption was right is unlimited
    • if you think the currency pair will go up in specified time frame then you do CALL OPTION and vice versa use PUT OPTION for declining market price
    • you will not lose more than you put at stake

    4.CRYPTO CURRENCIES

    Currently (beginning of 2020) there are totally 12 different cryptocurrencies that you can trade on IQ OPTION platform:

    • Bitcoin / Bitcoin CASH
    • Ripple
    • IOTA
    • Dash
    • ETHEREUM
    • ETHEREUM Classic
    • Monero
    • OmiseGo
    • Zcash
    • Santiment

    We think they will add more and more cryptos over time, as new ones become popular. So far we think this choice is wide enough.

    5. COMMODITIES

    As the only commodity currently available, the precious metal gold can also be traded as a binary option.

    6. Equities and Stock Indices

    At the moment there are 49 Stocks available for trading.

    Nowadays traders have up to 79 different asset classes available from commodities, forex, indices and stocks. The only commodity currently available is only GOLD and the stock indices are only six, the choice of stocks is much wider than the other two categories.
    Stock indices are focused on London stock exchange index (FTSE 100), Frankfurt (DAX 30), Paris (CAC40) and New York (S&P500 / NASDAQ / Dow Jones). Besides many European and American stock titles, some Asian shares such as Toyota and Bank of China are available for trading. Overall we can say that the emphasis is put on stocks from banking and financial services, energy, the internet and telecom industry with which you can speculate.

    You can trade via mobile Apps, webtrader or standalone platform.

    Signup bonuses

    Unfortunately, there are currently NO bonuses offered!

    Regulation

    IQ Option Europe Ltd. is registered at Cyprus, and is regulated by CySEC. IQ Option Ltd. is registered at Seychelles, this entity is not regulated.

    How fund to your account

    In addition to the two credit card variants VISA and MasterCard, IQ Option investors also have the option of using a number of internet payment services for deposits and withdrawals. The list of available providers includes Skrill, Neteller, Webmoney, and of course WireTransfer. These services handle payments very reliably. However, no detailed information is available on the fees charged when using IQ Option service for payment services. It is therefore advisable to contact customer service on this matter in order to clarify this. Because even the general terms and conditions help in this case only conditionally, as these currently, like many other contents, are only available in English. Here, from the customer’s point of view, there is still room for improvement. Incidentally, the minimum deposit that IQ Option requires from customers is relatively modest at just $10.

    IQ OPTION demo

    There is, of course, a demo account where you can practice your trading strategies without any risk using $10.000 virtual money. You can trade all types of assets completely stress free.

    Quality of customer support

    The conclusion of IQ OPTION review

    “During this test we noticed that IQ OPTION platform and OVERALL services THEY OFFER are a step ahead compared to the competition! No wonder that they survived the big cleanup in binary options industry and now start to take their share in forex trading industry.”

    Let us explain you why.

    First of all, during our test, we noticed, that this brand puts really strong emphasis on trader’s education + on the quality and constant improvement of their trading software and last but not the least on the security of client’s funds.

    Secondly, according to what we noticed, the client verification process is in line with the strictest regulation rules. In other words, IQ OPTION is one of few brokers out of all forex brokers that we tested, where you as a trader have the feeling that they want you to trade profitably and stay with them for long term, instead of just taking your money and run away (which is usually the case with many other brokers in this industry). That’s indeed a good signal for a new trader!

    Last but not the least .. we think they have really knowledgeable customer support.

    Similar as competition, IQ OPTION is available by phone, email, and live chat. In addition, there is also a mailing contact (a little old-fashioned but you never know when you will need it). Upon calling for customer service, a responsible client support person will either immediately pick up the line and and try to resolve your issue right away OR the system will create a so called “Problem Ticket Nbr.” where you report a problem, and employees will call you back later. This is a nice service to have, because it could perhaps save you a lot of money on your phone bills.

    Broker contact details:

    IQOPTION EUROPE LTD
    Yiannis Nicolaides Business Center, Agiou Athanasiou Avenue 33, 4102, Agios Athanasios, Limassol, Cyprus
    Phone +357 25 262 010
    Email [email protected]
    LiveChat Yes for clients

    VIDEO tutorials

    RISK DISCLAIMER:

    Trading CFDs carries a high level of risk since leverage can work both to your advantage and disadvantage. 76% of retail investor accounts lose money when trading CFDs with this provider. As a result, CFDs may not be suitable for all investors because it is possible to lose all of your invested capital.

    1 COMMENT

    Great info. Lucky me I found your website by chance (stumbleupon).

  • Best Binary Options Brokers 2020:
    • Binarium
      Binarium

      The Best Binary Options Broker 2020!
      Perfect For Beginners!
      Free Demo Account!
      Free Trading Education!

    • Binomo
      Binomo

      Good choice for experienced traders!

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