72 Option Forex Broker

72 Option Forex Broker - Complete Information Guide

1. Broker Overview

　　72 Option, established in 2015, is a binary options trading platform owned and operated by Epic Ventures Ltd. The company is headquartered in Sofia, Bulgaria, and primarily serves retail clients interested in trading binary options and Forex. Since its inception, 72 Option has aimed to provide a user-friendly trading experience and has garnered attention for its diverse trading options.

　　The company has evolved significantly since its launch, with a notable increase in user registrations and trading volume, particularly in 2017. This growth trajectory has positioned 72 Option as a recognizable name in the binary options market. However, it is essential to note that the broker has faced numerous complaints regarding its operations, particularly concerning withdrawal issues, which have raised concerns about its legitimacy and regulatory compliance.

　　As a private entity, 72 Option focuses on providing services directly to retail traders, offering a range of trading instruments, including Forex and various binary options. The broker's business model primarily revolves around facilitating trades for individual investors, making it accessible to a broad audience.

2. Regulatory and Compliance Information

　　72 Option operates without oversight from any recognized regulatory authority, which raises significant concerns regarding its legitimacy. The broker has been flagged by several regulatory bodies, including the Securities and Futures Commission (SFC), for operating without a license. The absence of a regulatory framework means that client funds may not be adequately protected, and traders may face challenges in recovering their investments.

　　The broker does not provide specific regulatory numbers or licenses, further emphasizing its unregulated status. This lack of oversight is compounded by reports of clients experiencing difficulties in withdrawing funds, leading to allegations of fraudulent practices.

　　72 Option claims to implement a Know Your Customer (KYC) policy and Anti-Money Laundering (AML) measures; however, the effectiveness of these measures is questionable given the complaints from users. The lack of participation in investor compensation schemes also heightens the risk for clients, as there are no safety nets in place should the broker default.

3. Trading Products and Services

　　72 Option offers a variety of trading products, primarily focusing on binary options and Forex trading. The broker provides access to numerous currency pairs, including major, minor, and exotic pairs, catering to a wide range of trading strategies.

　　In addition to Forex, 72 Option offers Contracts for Difference (CFDs) on various asset classes, including indices, commodities, stocks, and cryptocurrencies. The availability of these products allows traders to diversify their portfolios and engage in different types of market speculation.

　　The broker's product offerings are updated periodically, with new instruments introduced to meet the evolving demands of traders. However, specific details regarding the frequency of these updates have not been disclosed.

　　72 Option primarily serves retail clients but also offers services that may appeal to institutional clients, although details about institutional offerings are limited. Additionally, the broker does not provide white-label solutions or asset management services, focusing instead on direct trading for individual investors.

4. Trading Platform and Technology

　　72 Option utilizes a web-based trading platform, which allows users to access their accounts without the need for software downloads. The platform supports various binary options types, including high/low, pairs, long-term, 60-second, and one-touch options, providing flexibility for different trading styles.

　　While there is no mention of support for MetaTrader 4 or 5, the broker's proprietary platform is designed to be user-friendly, catering to both novice and experienced traders. The platform's features include real-time market data, customizable charts, and a range of technical analysis tools.

　　Mobile trading is facilitated through a dedicated application compatible with both iOS and Android devices, allowing traders to manage their accounts on the go. This mobile platform provides essential functionalities, including trade execution and market monitoring.

　　72 Option operates on an execution model that is not explicitly defined in the available information; however, it is suggested that the broker may employ market-making techniques. The technical infrastructure supporting the platform is not detailed, leaving questions about server locations and reliability.

　　API access and automated trading capabilities are not mentioned, indicating that traders may have limited options for algorithmic trading or custom integrations.

5. Account Types and Trading Conditions

　　72 Option offers a standard trading account with a minimum deposit requirement of $250. The trading conditions include competitive spreads, although specific figures are not disclosed. The broker does not charge commissions on trades, which may appeal to cost-conscious traders.

　　For advanced traders, there is no mention of VIP or professional account types, indicating that all clients may operate under similar conditions. Special account types, such as Islamic accounts, are not provided, limiting options for traders who require Sharia-compliant services.

　　72 Option does not offer a demo account, which may deter novice traders who wish to practice before committing real funds. The leverage offered varies by product, with maximum limits typically reaching up to 1:500, allowing traders to amplify their positions significantly.

　　The minimum trade size is not specified, but the broker generally promotes low-cost trading options. Overnight fees, or swap rates, are not explicitly outlined, leaving traders to inquire directly with the broker for detailed information.

6. Fund Management

　　72 Option supports multiple deposit methods, including bank wire transfers, credit cards, and electronic wallets. The minimum deposit requirement varies depending on the account type, with a standard account starting at $250.

　　Deposit processing times are generally quick, with transactions typically completed within a few hours. However, specific fees associated with deposits are not disclosed, and traders are encouraged to check the broker's website for the latest information.

　　Withdrawal methods include bank transfers and credit card transactions, with minimum withdrawal amounts set at $100 for credit card transactions and $500 for bank wire transfers. The processing time for withdrawals can take up to 5-7 business days, and traders have reported issues with delayed or denied withdrawal requests.

　　72 Option's withdrawal fee structure is not clearly defined, leading to potential confusion for clients regarding the costs associated with accessing their funds. This lack of transparency can be a significant drawback for traders considering this broker.

7. Customer Support and Educational Resources

　　72 Option provides customer support through various channels, including telephone, email, and online chat. The availability of support is not explicitly stated, but traders can typically expect assistance during standard business hours.

　　Multilingual support is offered, with representatives available in English, German, Italian, and Chinese, catering to a diverse client base. However, the quality and responsiveness of customer support have received mixed reviews from users.

　　The broker offers limited educational resources, with no specific mention of webinars, tutorials, or eBooks. Market analysis services, including daily reports and news updates, are also not highlighted, indicating a lack of comprehensive educational support for traders.

　　Basic trading tools, such as calculators and economic calendars, may be available, but specific details are not provided. This limited offering may hinder traders, particularly those new to the market, from developing their skills and strategies effectively.

8. Regional Coverage and Restrictions

　　72 Option primarily serves clients in various regions, although specific markets are not explicitly listed. The broker's operations appear to be global, with a focus on regions where binary options trading is permitted.

　　The broker has offices in Bulgaria, but details about regional offices in other countries are not provided. Certain countries may be restricted from accessing 72 Option's services, particularly those with strict regulations against binary options trading.

　　Countries that are not accepted include the United States and several others where financial regulations prohibit such trading activities. Special restrictions may apply based on local laws, and traders are advised to verify their eligibility before opening an account.

　　In conclusion, while 72 Option presents itself as a binary options trading platform with a range of offerings, the lack of regulation and numerous complaints regarding withdrawal issues significantly raise concerns about its reliability and safety as a broker. Potential clients should exercise caution and conduct thorough research before engaging with this broker.