Is Option Rally a scam broker?
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OptionRally is operated and owned by Optionrally Financial Services and is located in Cyprus. Optionrally was founded in 2011. Being in this business for so long they have a good binary options experience. OptionRally.eu is regulated by CySEC and their license number is 220/13. They started their operations from Zurich Switzerland. Later on, they shifted to Nicosia Cyprus. They are maintaining satellite offices in UK, Europe, Middle East and Australia. It is better to deal with the regulated company as in most of the online scam unregulated companies are involved.
OptionRally was firstly owned by Tifozi Investments and later on by TCM Investments Ltd. TCM is now replaced by Option Rally Financial Services.
They have worked hard and have focused on making their trading process, support and quality of educational material are better than what you find in these with newer wave of brokers. They have one of the best educational materials which comprise videos, daily and weekly market analysis, and have a comprehensive glossary.
They use SpotOption platform where all the information is easily available and the site is well organized. Features offered are one touch, 60 seconds, option builder, and binary Meta. The assets have become easier to chose from and now have more feel and look of a professional trading environment.
Account types are not displayed anymore and you will have to talk to the company representative for exact information. But that information will only be made available to you once you open an account. The bonus percentage differs with each account. It starts from 15 percent for a mini account to 25 percent for VIP account along with few extra bonuses thrown in every now and then. And to withdraw your bonus amount your trading volume should be 50 times and that too only in 150 days. The FAQ section is very limited and misses out on many important points. It is available in seven languages.
Option Rally is a scam broker as there are a lot of complaints about the withdrawal process. It has been fined on several fronts by CySEC. They are not acting honestly, fairly and in a professional way in relation to their bonus T&C. Information on their website is misleading, not fair and clear.
They have also been warned by British Virgin Islands Financial Services Commission. They are operating without license and regulation in the Islands.
International Financial Services Commission of Belize (IFSC) says that due to non-compliance with some conditions Option Rally is no longer licensed.
Deposit and withdrawal methods available are bank wire transfer, credit cards (American Express, Visa, and MasterCard), CashU, Knet ATM cards, and MoneyBookers.
There are many complaints on the internet regarding the way Option Rally scam closes the account. Whenever an account shows a profit it is closed and the reason usually given is “use of abusive trading”. The review page is full of angry customers and as suggested they can file their complaints with CySEC if they have been mistreated or misinformed.
Some reviews also talk of Option Rally using high-pressure tactics for depositing more and more amount. This has become a nuisance for their present customers and if not controlled it will have an effect on its potential customers.
Because of their bonus policy, there are a lot of withdrawal issues and few customers feel that they manipulate prices which seem in the company favor. These are just a few allegations against the company.
Being regulated Option Rally is a scam broker and you can see a huge pile of reviews and complaints against them. The site is presently not working. If you have been a fraud or scam victim of any type you can contact MyChargeBack to retrieve your money from fraudsters.