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Trusted Options Review
Trusted Options fall short of trust and our expectations of genuine brokers. To begin with, the broker is providing unpopular services, indicating that it disregards laws.
Trusted Options is an unregulated binary options broker that feigns legitimacy. In binary options trading, investors wager on whether a financial asset will increase or decline over a specified length of time. If right, they will receive some returns; if incorrect, they will lose everything they invested. However, expenses on each trade make it virtually impossible to be a long-term winner. Worse still, most binary options brokers actively manipulate prices to accelerate your loss of money so you can make additional deposits.
The possibility of defrauding consumers with binary options has attracted a lot of rogue brokers. They look viable, but as soon as you make your initial deposit, they stop communicating with you. For this reason, you must ensure that the broker you are working with is a trustworthy crypto company.
An active challenge is that investors are unaware that trading binary options is not comparable to trading stocks or currencies. Actually, it has more to do with gambling than commerce. Nearly every trader who uses binary options will ultimately lose money over time. To facilitate your research into this broker, we have shared several tips offs we found about the broker, confirming that it is a con.
Options Trading LLC operates Trusted Options’s website. The broker presents itself as a promising investment platform and offers appealing conditions, including quick funding, funds safety, data protection, and 95 % payouts. The broker allegedly provides a user-oriented trading platform.
Besides claiming it is the leading broker trusted for safe trading and withdrawals, it boasts a clientele base of over 1.7 million traders. We also detect a high yield investment program (HYIP) element as the broker claims to have over $876565 payouts. Always treat brokers promising too-good-to-be-true returns with contempt.
Interestingly, the same website provides contradicting figures regarding customer numbers and total payouts. If a broker is as credible as it claims, it does not need to use these statistics to prove itself. Instead, customers’ perception of it(reputation)should be enough to sell it.
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Trusted Options address is Suite 305, Griffith Corporate Centre, Kingstown, St Vincent & The Grenadines, VC0100. Binary options investors can contact the broker at +1 (888) 901-5028 or email@example.com. Although providing these details is a transparent gesture, you should not entertain the idea of reaching out.
For one, this is a phony broker, and you should thus not entrust it with personal details. Again, contacting the broker is handing them the perfect tools to pester you with endless calls further to manipulate you. Suppose a broker is overpromising, like Trusted Options. In that case, there is a good chance it is dishonest and not worth your attention.
Deposit & Withdrawal Policy
This company offers multiple ways to deposit money, but they are all tied to different crypto tokens. Being forced to pay a broker in cryptocurrency is typically a scam indicator, as it makes it more convenient for the broker to steal from you. The convenience is that such deposits are not subject to chargebacks.
The minimum deposit requirement for a Trusted Options account is $50. This amount is relatively high, considering that reliable brokers typically offer $10 micro-accounts. Being a fraudulent broker, Trusted Options wants to get as much as possible from you.
Withdrawing bonuses that Trusted Options offers are subject to some extortionate clauses. For instance, withdrawals must meet a particular turnover requirement, which is 300% for accounts that have received a bonus. That is a ridiculously high amount aimed at limiting access to your cash. The broker’s extremely high turnover requirements clearly warn you not to partner with this broker.
Trusted Options Trading Conditions
Before addressing the trading conditions, it is important to clarify that the trading terms with binary brokers slightly differ slightly from those with CFD providers. The payout, which is the percentage of the bid you win, replaces spreads and leverage. According to Trusted Options, its payout is 95%. However, as previously stated, such enormous sums are typically utilized as an enticement to lure additional customers, as it is improbable to win these bets.
Regarding the applicable fee, Trusted Options levies a $10 service fee for accounts that do not have at least one trade in a month. Additionally, dormant accounts attract a 20% withdrawal fee. Investors who do not transact for twelve months automatically lose their balance. The broker awards a referral fee of 10% of the deposits the referral makes with an additional $100 commission to a referrer.
Trusted Options Licensure & Regulation
Most financial watchdogs worldwide have expressed disapproval of binary options trading strategy, with some explicitly banning the practice in their jurisdictions. You should seriously consider the stakes when an investment venture has been in the spotlight for all the wrong reasons.
Trusted Options purports to be under the IFMRRC’s regulation. This is laughable because this is a shady agency with questionable credibility. Moreover, the broker operating in SVG should be an alarm. This country is among those notorious for having lax oversight, making them the perfect den for illicit brokers. Moreover, SVG harbors rogue brokers and protects them from international prosecutions.
When the broker swindles you or goes bankrupt, you can be sure you will not get your money back. Also, you cannot press charges against the broker because of obvious jurisdictional barriers. To avoid finding yourself in such a predicament, only invest with reputable, regulated brokers.
Trusted Options avails of comprehensive trading software. Regardless of the chart tools and timeframes available, you should not trust this broker. Binary options brokers are notorious for manipulating trading platforms to make it hard for you to win bets.
Suffice it to say you should only trust trading platforms genuine brokers provide. Such platforms will give you a competitive experience and are free from manipulations. Dealing with Trusted Options beats the logic since the broker works against your investment goals.
Customer reviews offer a good starting point in inquiring about a broker’s reputation. However, you should be careful in basing your final decision on reviews as they may not be entirely accurate. This is especially true if a broker has a referral program that motivates users to mislead you to get the referral commission.
Be that as it may, you should not overlook customer reviews, especially if they are damning ones. In our analysis, we came across a complaint by a customer claiming that Trusted Options blocked them from accessing their funds. Such a complaint is an outright disclaimer against dealing with the broker. Do not take chances, as you might end up like the aggrieved users.
Contrary to its name, Trusted Options falls short of trust and our expectations of genuine brokers. To begin with, the broker is providing unpopular services, indicating that it disregards laws. Moreover, the broker operates in a country known for its lack of forex regulation, implying that it is unregulated.
Once you notice that a broker is unregulated, you should not wait for further evidence that it has ill motives. You should instantly cease further engagement if you have ongoing ones. While we still don’t recommend trading in binary options, if you have to, at least ensure that you are dealing with a trustworthy crypto company.