BigOption Review Scam Complaint
BigOption Review – An Introduction
BigOption is an unlicensed binary options broker owned by Time Line Group. The broker has been established in 2011 and it is headquartered in UK. BigOption has its operational office located in Gibraltar. As per the information, this brokerage company is owned by the Silver Services Ltd. The broker offers around twenty risk free trades that are used to be one good advantage with this broker, but this good thing has soon tarnished with increase in consumer complaints about financial mismanagement against them.
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About the BigOption:
BigOption provides their clients the SpotOption trading platform, the platform that is used by more than 80% binary options brokers. The broker has standard Binary Options, Speed Trading, Ladder Options, 30 & 60 seconds options, along with Pairs Options, Weekly and Monthly options. Their platform also allows you to trade Forex and CFDs, along with the ProFollow feature for copy trading. The returns for EUR/USD options are 81%. The broker guarantees its clients comparatively good profits, some free bonuses and 24 hours withdrawals. SpotOption is the platform where BigOptions used to operate, but now they have upgraded their platform to the Gen 2.
Another feature that distinguishes the authenticity of the broker is withdrawal. That being said, withdrawal is not an easy factor especially when things are all online. One will have to request for their withdrawal and wait for it to be processed accorfingly, after that it might take 1-2 weeks for the funds to reach their account. This feature has to work easy so that the client feels secure with their funds but according to various reviews this process of BigOption is clumsy. The broker even does not provide any demo trading account to test its services. Instead, they provide a risk free trading account that is claimed to have no risk of losing the money. However, the number of such risk free trades in case of unregulated brokers is false and not like demo trading account where you can trade any time as much as you want.
Is BigOption legit or scam?
BigOption is a scam broker as it is also blacklisted and issued a warning from different financial regulators. Like Canada’s BCSC has warned Wirestech Ltd, then OSC has also warned. It is red-listed by USA’s CFTC due to lack of registration with the commission. Anguilla’s FSC has warned BigOption and their former owner Big Market Ltd. Hence, it is not advisable to invest with this broker.