Is 72 Option a scam broker?
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72 Option is owned and operated by Epic Ventures Ltd. located in Sofia, Bulgaria. They are unlicensed binary options broker. The team at 72 Option consists of experts who are experienced in trading derivatives, forex, and stocks.
SpotOption is the trading platform on which 72 Option works. They are offering forex, binary options, and CFD’s trading. Binary options available are pairs, high/low, 60 seconds, 5 minutes long-term, one touch, limits and ladder. Smallest trade size is $5 for 60 seconds option and minimum $25 for long-term options.
Stocks of major companies of US and Europe can be traded. All major currency pairs of USD, GBP, JPY, CAD etc are available. Commodities like precious metals, oil, coffee, wheat, and sugar can be traded on this platform. Important indices like NASDAQ, NIKKEI225, S&P500, and SSE180 etc can be traded upon.
Services provided are one-on-one live trading session exclusively with professional binary options broker is available on request and they help you reach your trading goals. Market news and events are also available.
72 Option is a scam broker and often rob unsuspecting customers of their life saving mercilessly crushing their financial goal and are untruthful. The insurance given to cover lost trade is a deadly trap where an individual can go financially bankrupt. Investors cannot hope to recover their massive loss. For withdrawal of bonus, one has to trade 25 times the amount. It is like digging deeper and deeper until you cannot get out. Most of the online scam works on the same principle.
One of the authors who recently retired was seeking alternative means to gain income came across 72 Option which he thought is a good platform and signed up for EUR 250. He was directed to accounts manager. He talked in detail about his financial goals, liabilities, and timescale for fund withdrawals. He even took out a loan of EUR 20000 which he added to existing funds. He took a loan to achieve a base investment of EUR 30000+ and with skillful handling will grow to EUR 65000 over 3 months period and he will withdraw EUR 25000 to off-set his loan payment and meet his expenses for few months. His fund manager said that he (the author) should not take on margin and the lost trades will be covered by insurance. They also had a “risk-free agreement” which he thought is good for funds security, which was basically false.
A few months later the author transferred another EUR 20000 to his trading account. Then all of a sudden the author came to know his account manager left the company for a personal reason. The new manager put the author on losing trades. It was at this point in time the author realized there is something fishy with 72 Option account. 72 Option scam started unfolding right in front of the author when insurance cover jumped tremendously in just two trading sessions.72 Option is a scam broker and the above author was a classic victim of it. If you for any reason whatsoever are victim of online scam or binary options scam or crypto currency scam you can contact MyChargeBack to regain your lost amount. They will help and guide you through every step so that you can recover your money.