Is Vault Options a scam broker?
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Vault Options is an Israeli web-based company that offers binary options trading. It has never been designated as a contract market and is neither registered nor regulated.
There is an ever-increasing popularity of binary options trading. This has led to the birth of several online brokers. Binary Options trading was open for general public in 2008. Vault Options is one of the veterans in the market and has provided dependable and reliable services to its global customers in its initial stage.
Vault Options website is based on the basic values of accessibility and usability. The website is very simple and elegantly designed and is more focused on providing vital information about the broker and options trading in particular in an easy navigational fashion. It has a well-defined layout, menus, and links.
Once the doors for binary options were open to general public Vault Options introduced radical changes, and changed the whole scenario and concept of trading. An options trading is speculative in nature and involves calculated risk. And this is where online scam takes place. The trading platform used by Vault Options is Spot Option which is easy to use for a newbie as well as complex enough to keep more experienced traders satisfied. It is completely online and can be accessed from anywhere, by any trader once he completes a free registration process. There are trading tools, asset index, live data feed, and live financial news on the platform. Once a trader login he can view money management features, account balance, and other relevant stock exchange details that are useful while trading in binary options.
Vault Options accepts USD and EUR as trading currency for deposits, minimum being 100. The currency once selected during registration process cannot be changed later on. One can use a credit card or Western Union or wire transfer. For those depositing through credit card the maximum deposit allowed is 5000 and those who use Western Union then the maximum is 10000. Cards which are accepted are Visa, Delta, MasterCard, Diners, Visa Electron, Maestro, and Solo.
Assets on offer are 33 stocks, 7 commodities, 11 currency pairs, and 28 indices.
There is a buzz on the internet about Vault Options is a scam broker. But clear evidence of scam is not available. They lack transparency and in their contact us page there are only three contact numbers and no address. Though at the bottom of their home page there is an address it is not mentioned whether it is their headquarters address or office address. Even 777 Binary and GT Options have the same address. It raises a suspicion, are they same company or they are the different one sharing the same building. There are many internet scams going on in the market and one should be aware of it.
On the internet and in different forms and community sites there are many complaints regarding withdrawal of money. There is also news of Vault Options staff threatening a trader who requested for withdrawal of his funds, that is very unprofessional behavior on company’s part.