IvoryOption Broker Review

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IvoryOption

Broker Name: IvoryOption
Platform: SpotOption
Founded: 2020
Bonus: 100%
Return/Refund: 70-85%/ 0%
No. Of Assets: 65
Regulated: No
Demo Account: No
Minimum Deposit: 250
US Traders: Not Accepted

IvoryOption Review

IvoryOption is owned by Arya Group LTD registered at the virtual office: Landmark Building, 14 Tsar Osvoboditel Blvd., 6th Floor, 1000 Sofia Bulgaria. They are still not regulated. You can contact them on email at: [email protected] or call them on this number: (+44)203-608-6720. There are more call centers in other countries available. The platform is SpotOption, and the broker is not regulated.

Is Ivory Option a Scam?

Ivory Option could be a scam. They have a number of bad complaints, but those complaints are very old and since then the broker has been trying to improve its reputation. One thing to take note of is that it works hand in hand with the signal service VIP binary, a third party signal service that is not trusted by us. The thing to keep in mind is that a shady signal service doesn’t make IvoryOption a scam, it just raises questions about the sincerity of their efforts to become trusted.

The scariest part about this broker is in their terms and conditions and I quote the following lines from their site; “Whenever the Client transfers funds to the Company, those funds belong to the Company and will be treated by it as its own…” and “The Client will not have a proprietary claim over money transferred to the Company, and the Company can deal with it in its own right”. Translation; your money is theirs once you’ve made a deposit and there’s nothing you can do about it! Ivory Option… more like I worry option!!

Another quick search led me to an article on mirror.co.uk where the author describes how a profitable trader was denied access to his money which was over $30K. Bottom line, there are dozens of SpotOption brokers better than this one, so why bother?

Update 2020: The statement above from the terms and conditions are no longer there which is good but IvoryOption uses the famous “bonus-lock” to keep you from withdrawing. This is not in line with how regulated and good brokers treat their clients. Looking at their traffic, they have lost around 60-70% of their “normal” traffic since regulators began cracking down on the off-shore, unregulated brokers. There was a slight spike several months ago but then it dropped again.

Editor’s Note – Why Does Ivory Option Suck in 50 Words

My biggest issue with Ivory Option is that they are not being monitored and regulated by any authorities. This is a big drawback and things get even worse when you Google “Patryn Limited” which owns Ivory Option. They have a bad reputation and there are loads of complaints against them. The good news is that all the complaints are about a year old, back before the broker made efforts to improve service, reliability and trustworthiness. Update 2020: The latest negative complaint arrived 2 hours before writing this review and unfortunately, it isn’t looking any better than before.

Why Doesn’t IvoryOption Suck in 50 Words

Their live chat was actually available even during a Sunday. Having access to live support is always appreciated. They answered my questions rather quickly and didn’t try to talk me into depositing or asking for my phone number. Update 2020: No live chat when we tried on a Saturday but it’s okay because they have mentioned their working hours under “contact us” and it’s clear they don’t work on weekends.

Should I Open an Account with IvoryOption?

They have had some trouble with reputation but over the past year they have made great strides to improve their operation. They are using an older interface but the trading is still good. They support short term, long term, pairs, One Touch, Ladders and SpotFollow (copy trading) with a large asset list and SpotOption comprehensive array of expiry.

Moving on to the website itself. Education materials have been greatly improved in terms of, videos and articles but that really doesn’t matter. You go to a broker to trade, you go to an educational website like ThatSucks.com (former BinaryOptionsThatSuck.com) to learn how to trade. Regardless, the Super Trader TV is a library of videos on every topic of interest to a new trader and includes recordings of webinars and live daily updates on the market.

Update 2020: IvoryOption is under new management and overall there were less complaints. Although, notice that we mentioned they have lost around 70% of their traffic too, so it makes sense that with loss of clients there is fewer complaints. Reading their terms and conditions, the awful bonus terms locking your deposits is still there and the firm is not regulated.

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IvoryOption Complaints

I mentioned in the beginning that the latest complaint came in just a couple hours before writing this review. I found it on ripoffreport.com and it’s about a client being unable to withdraw his funds due to a bonus lock he was not told about by his account manager. Regulated and trusted brokers do not use such methods and with the new development from CySec, bonuses are banned and withdrawals need to be processed within 24 hours. So why risk trading with a broker that locks your money in a sneaky way?

IvoryOption Regulatory Announcements and Warnings

23.03.2020: FSMA in Belgium warns against Arya Group Ltd and IvoryOption for operating unlawfully within Belgium. Source: FSMA.be

13.12.2020: CySec publishes a list of unauthorized domains and websites which includes IvoryOption.com. Source: CySec.gov

15.11.2020: Canada’s MSC warns against Ayra Group Ltd and IvoryOption for being unauthorized to offer financial services in the region. Source: Mbsecurities.ca

Ivory Option Ratings

User Friendliness 18/20

The SpotOption platform itself is user friendly and live chat is readily available (during bank days only), with what appears to be real people. They have also enhanced their education services with Super Trader TV, a series of videos that explain the platform, the tool, and the basics of strategy, analysis, risk management and other topics of interest to new traders.

No. of Assets and Expiry time 18/20

Assets and expiry are top notch, this is SpotOption after all. They have dozens of forex pairs, all the major stock indices, the most commonly traded commodities and expiry for most that ranges out to 6 months.

Commissions, Support and Effective Return 14/20

For currency pairs, the highest return is 83% which is quite fair in relation to other brokers. Support was online during a weekend which is a plus and they responded to my questions without being pushy. There are no commissions.

Deposit, Payment and Bonus 14/20

The minimum deposit has been lowered from $500 to $250 for a first time deposit. Minimum withdrawal is only $100 for credit card but $500 for wires, something very important to be aware of when opening an account. Bonuses are matching to your deposit according to the live chat but on the website it says 25 up to 50%. Nevertheless, to clear the bonus you need to reach a volume of (bonus amount + deposit) times 25 which is on the high side of the industry. They also have a 200% bonus for any deposits made over the weekend.

Website Extra’s 9/20

There are a few things good enough to count as an extra, but these can also be found on most SpotOption brokers. One is SpotFollow, a copy trading service which allows you to follow others traders using IvoryOptions. Another is the Strategy Advisor tool which gives buy/sell indications based on Bollinger Bands ™ , moving averages or RSI.

Ivory Option Overall Rating: 73/100

Ivory Option Reviews

22 • Average

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Reviews 22

It is very possible for you to get back…

It is very possible for you to get back all your lost funds from the fake brokers . I can give you 100% assurance when you get in contact with Mrs Sally she will help you recovered all your lost fund. and also invest to earn $5,850 weekly. click on my profile to add her up on Gmail or WhatsApp

Don’t keep calm while your money is…

Don’t keep calm while your money is being taken away from you. Mrs Sofia Williams is the right person to help you recover all your lost funds back and also help you to earn more. Click on my profile for her email address

Morganwarren421 at gmail, com

It is one thing to have the passion to for trading in binary options, it is another thing not to fall into scam traps. And the truth is many of these trading agencies are scams. I invested my retirement wage of €70,000 with a this company. For the first few weeks, my investment constantly yielded at a rate of 14% and I was happy. Some weeks after, I tried checking my account and I couldn’t find anything. I sent countless complaints to the agency but they never responded. I even lodged a complain with the police but they said they couldn’t do anything since the broker isn’t registered.
It took the professional help of Mr Morgan who manages an investment recovery agency ,to help retrieve my money from thr scumbags after 2 months. You can reach him via email above

I can’t say much

I can’t say much, but I know am very happy because I was able to get everything back, I mean all the funds I lost to fake brokers through the help of Mr Jamescalvin , he’s indeed a life saver,ask of help from him, click on my profile for his details, he is trustworthy

It was a painful experience for me to…

It was a painful experience for me to have fallen victim of losing my money to scam brokers but all thanks mr James, I got my lost funds back and am investing with him too. Click on my profile to get his details

Do your best in getting your money or…

Do your best in getting your money or bitcoins back as it is possible. View my bio for contact.

i always thought Binary trading ain’t…

i always thought Binary trading ain’t real but a big elaborate gambling scheme. but Mr Sullivan cleared my doubts, he showed me its real but you have to know the right indices to collect and analyse that is why many lose due to their inexperience on identifying the right indices. he helped me grow my account from $1,000 to $13,800 Btc in less than a month.
If you need help, click on my bio for his detail

I came across Mrs Sofia Williams who…

I came across Mrs Sofia Williams who helped me to recover back all my lost funds and also help me to earn $6000 weekly. Click on my profile for her email address

Recovery of btc to your wallet is…

Recovery of btc to your wallet is possible. We’re tested And trusted, our clientele speaks for us.

For more on recovery check bio for more info

Being a victim of scam brokers was…

Being a victim of scam brokers was painful experience for me until I met Mrs Sofia Williams who helped me in recovering back all my lost funds. Click on my profile for her email address

Thank you so much mrs Elizabeth for…

Thank you so much mrs Elizabeth for your help and support in recovery back my lost funds. You can as well click on my profile to get her email address and her WhatsApp number

I was able to recover my lost funds…

I was able to recover my lost funds back with the help of Mrs. Sofia Leo the recovery expert, she helped me get back my money from scam brokers. Click on my Profile to get her Details.

For many of us who have lost our money…

For many of us who have lost our money trading binary or buying Bitcoin there is still hope for us.
I was once a victim I lost my money trading binary a total $72000, I tried all means I could, but I was scammed the more. Then I got to meet a contact on a review.
I contacted Mrs Gabriella and narrated to her how I was. She felt pity for me and promised to help me
At first when we started the process I was scared not to be fooled again. But the long run I must testify that I have received my money in full. I followed her every step and acted as she told me to. Today I’m very happy cuz I have recovered all my money and also she has me trade.
Thanks to her.you can visit my profile to get her detail she is very reliable

I came across Mrs Maltida who helped me…

I came across Mrs Maltida who helped me to recover back all my lost funds and also help me to earn $6000 weekly. Click on my profile for her email address

Don’t be ashamed of yourself

Don’t be ashamed of yourself, don’t die in silence. Check my bio for details on recovery of your lost funds ASAP

DO NOT TRUST THOS SCAMMING COMPANY!

DO NOT TRUST THOS SCAMMING COMPANY!! Unless you want to lose everything you invest!! Be warned. Wish I’d seen a review like this!

I invested with Ivory options a couple…

I invested with Ivory options a couple of years ago, one of the first things noticed was that they like to trade aggressively with your money, however my reason for putting this review is that they steal your money and then make every excuse possible that it is not their fault.
I had £10,000 in my account after a successful long term trade and decided to watch the market over a period of time. When I decided that I wanted to trade again, I only found £5000 in my account, when ivory options was asked about it they stated that I had made some very aggressive trades, I showed them through evidence of trading that this was not me and an investigation was made, they came back and told me that another company was trading on my behalf. I asked how this was possible when I gave no one permission to access my account, they did not know and they took no responsibility for the loss. Again I left the account dormant with £5000, several months later I went to trade only to find all the funds had been depleted, again I asked them about this, the same thing was stated and I pointed to the fact that their security levels where no good and they have allowed my account to be hacked twice losing me £10,000 these are the kind of things trading companies should be insured against and if they lose money from people’s accounts in unauthorized trading the money should be reimbursed, however Ivory options will not take responsibility for such things that is if you can actually get through to them. A word of advice if they tell you they are governed by the FCA or FSA of England they are lying and any money you invest you will get no returns, the individual who stated he invested and made a profit is lying through his teeth or he is a bot or someone that has worked for the company.

TBBOB

Fighting online scams since 2020

FCA warns against LS Traders and Ivory Option

Britain’s Financial Conduct Authority has warned against two unregulated binary options brokers.

The first warning is about Ivory Option, which is one of the oldest binary options brokers, but not regulated.

The broker is based in Bulgaria and it is targeting residents of Great Britain, Australia, Singapore, South Africa and New Zealand, without being authorized to do so.

The second addition to the FCA’s blacklist is LS Traders. This broker offers so called directional trading, which simply put is binary options trading.

This broker is allegedly based in Britain, but the FCA knows nothing about, except that it is not regulated.

For your trading use regulated brokers only.

Ivory Option Scam Alert

WARNING: This broker has been shut down due to numerous complaints and security issues. We strongly recommend trading with regulated and trusted brokers.

Ivory Option Scam Alert

If you go into binary options trading blindly, without ever researching your prospective broker, things can sometimes end up very badly. There are numerous companies that operate in this industry, and not all of them are honest, unfortunately. That’s why we do what we do – so that you don’t have to expose yourself and your money to any kind of danger. This Ivory Option Scam Alert is therefore meant to be a warning to all those thinking about signing up with this company. Don’t do it because it is very likely that once you deposit your money you won’t be able to get it back. Read on and see what happened to us.

Ivory Option Scam Alert | What went wrong?

Let’s get straight to the point, Ivory Option withdrawal does not work and that’s the main reason for this Ivory Option Scam Alert. You can make a deposit and the platform is fairly decent, but when it comes to withdrawals this broker simply does not deliver. Money, that is. They tell you that it may take up to 10 days (depending on the method) for you to get your money, but ever after several weeks we still got nothing. To make things worse, we had a man supposedly tasked with helping us discover good deals, but as soon as we filed a withdrawal request he started ignoring us. The rest of the support crew is no better. We were scammed, there’s no other way of putting it.

Ivory Option Long Term

Ivory Option Scam Alert | What to do?

If you have already had this kind of experience, there’s not much this Ivory Option Scam Alert can do for you in terms of getting your money back. We can, however, recommend that you go public with your story and tell other traders what happened. BinaryOptions-Forum.com is a great place for that. That way you can help other traders and you also hurt scammers because less and less money is coming their way. Other forum members may have some useful tips on how to deal with a certain situation, so you may find a way to get your money back after all, who knows. Besides, becoming a member of the forum doesn’t cost you anything, meaning you can only profit from it. Connect to other traders and you will have a much more enjoyable trading experience when you find the right broker.

Ivory Option Scam Alert | Conclusion

We’re getting close to the end of this Ivory Option Scam Alert, so we’ll repeat – do not trade with this broker because you won’t be able to withdraw any money. Also, if you have experienced a scam, don’t let it go unnoticed. Tell the other people your story both to punish the broker and to help fellow traders. This way we can make the whole binary options trading industry a better and safer place. It doesn’t cost you anything to create your own Ivory Option Scam Alert on a forum and you can sometimes even get help from other forum members. Become a part of the community now!

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