1primeoptions Review: 1primeoptions.com Stay Away

1primeoptions is a company that allows individuals to trade binary options online. The company prides itself on providing one of the most powerful platforms. They claim that the platform allows users to secure their future. Additionally, they claim that trading on the platform is as easy as one click.

This company seems to target the Spanish audience. This is because the website’s default language is Spanish. However, there is an option to use English on the website. The website allows traders to invest in the world’s most important assets.

This company promises a lot to clients. This is despite the company being around for less than a year. Moreover, this company has a lot of red flags. They cannot deliver a safe trading environment to anyone.

On the surface, they seem like a legitimate company. However, a deeper dive reveals a lack of transparency. That is why investors need to do enough research before investing in a company. There are many companies like this one. They are in the market for people’s money.

Nonetheless, there are legitimate forex trading companies that exist in the market. Such companies will provide you with a safe environment to safeguard and grow your investment.

1primeoptions Review

The information on the 1primeoptions website is very shallow. The company does a poor job of informing their clients what they get. They do not even tell the clients the kind of software they will be using.

They only promise clients one-click executions. Additionally, they promise clients the ability to trade from anywhere at any time. However, this is not special. Most companies offer such services. This is an industry-standard. This does not look like a platform operated by professionals.

The only good thing they provide to clients is an economic calendar. This allows clients to stay up to date with financial developments around the world. Consequently, they can make informed price predictions.

However, this is also not helpful to all clients. The information presented here is exclusively in Spanish. There is no way to translate it into English. Therefore, the information is not useful to non-Spanish speakers.

Further, there is nothing on the platform for novice traders. They do not provide any training material to get them oriented to trading. Moreover, there are no tutorials on how to use the platform.

This company has a lot to do before they can gain the trust of traders. Seasoned traders will take one look and seek services elsewhere.

Account Types

This platform does not provide clients with a lot of options. There are only two account types on the website. These include the demo or trial account and the real account.

The demo account provides clients with $10,000 virtual money to trade on a demo account. With this balance, you can make trades similar to the real market. You can practice and test your knowledge before diving into trading. Most importantly, this account allows you to experience the trading experience on the platform.

The real account is the only live account on the 1primeoptions platform. This account allows users to generate an income through trades. However, the company tells clients they can earn up to 90% returns.

This is only a marketing strategy. The company cannot promise you the performance of your own trades. Trading requires a lot of knowledge and experience. Additionally, it requires perfect execution.

To operate the real account, users have to be over 18years. Additionally, they need to perform a KYC process. Further, they need to deposit at least $10. There are no perks depending on the deposit amount. All users enjoy the same trading conditions.

1primeoptions Deposit and Withdrawals

When we look at the deposit method, we encounter another red flag. This company only accepts deposits through Bitcoin. This is a major problem. This is because users cannot make chargebacks once they send the funds to the company. Additionally, it is impossible to trace the funds.

This means that you can quickly lose your money. The founders may decide to take off with investors’ funds. This is a recipe for disaster.  The company promises to process transactions within one to two hours.

On the other hand, they process withdrawals within 24 to 48 business hours. Additionally, you have to perform a KYC process to withdraw funds. This seems unnecessary and may delay the process. It can be inconvenient in the case of an emergency.

Founders and Physical Location

It is always advisable to know the people running a company. This will give you insight into what to expect from them. Otherwise, you may end up investing with people with shady backgrounds.

Unfortunately, 1primeoptions does not introduce us to the people behind the operations. The founders chose to remain anonymous. This is common with companies that run fraudulent operations. They hide their identities to ensure no one tracks them down.

There is no reason a legitimate company would hide the identities of the founders. Moreover, introducing the founders would help boost the trust of clients.

Additionally, the company provides a shady physical address. They list the company’s address as First Floor, First St Vincent Bank Ltd. Building, James St. Kingstown, St. Vincent and the Grenadines.

This location is very popular with scam companies. This is because it has very lax laws. Anyone can register a company without ever stepping on the Islands. Therefore, we cannot trust this address.

1primeoptions Regulation and Fund Safety

The regulatory status of the company also poses a cause for concern. The company provides no evidence that they are a regulated entity. This means that they are free to do what they like. Regulatory bodies keep companies in check. They ensure that companies do not run criminal operations.

Moreover, they ensure that companies do not put investors’ funds at risk. It is a bad idea to invest with unregulated companies. They can easily take off with your hard-earned money. You should always ensure you invest in regulated companies. Check for licenses from bodies such as FCA, NFA, or CySEC.

This company further puts clients’ funds at risk. There is no evidence of systems protection from hackers. Therefore, hackers can easily penetrate the defenses and steal your money. Additionally, they can steal your personally identifiable data.

Overall, the disadvantages outweigh the advantages. This company spells bad news. There are just too many ways you can lose your money. Moreover, this company does not provide a lot of perks.

Final Verdict

1primeoptions is not a trustworthy company. It contains a lot of red flags that no one should ignore. The company lacks regulation from a relevant body. Therefore, they cannot assure users of their funds’ safety.

Further, the company lacks transparency. They fail to reveal who is behind the operations. There are many risks in investing with mysterious people on the Internet. On top of that, they are operating from a very shady location.

Even worse, they only support Bitcoin deposits. This means that users can track or recover their funds. Under such conditions, it is easier to get scammed than it is to make any money. This is not a legitimate company.

Nonetheless, there are companies that will give you better services. They have been around for longer and operate with full transparency. Only use the best forex trading company in the market. They will give you a trading platform without compromising on your funds’ safety.

 

Tags: 1primeoptions Review, 1primeoptions.com Scam Review