TradeOption Forex Broker

Note: TradeOption's official website: https://www.tradeoption24.net/ is currently inaccessible normally. TradeOption is a Gibraltar registered brokerage company who provides binary options and forex trading. The company support trading on MT 4 and MT 5 platforms. However, it operates without regulation from any authorities, which is quite risky.Pros and ConsProsConsMultiple Account TypesLack of RegulationMT4/5 Trading PlatformUnavailable WebsiteHigh Minimum DepositNo Demo AccountsNo Info on CommissionsIs TradeOption Legit? TradeOption holds an FCA (Financial Conduct Authority) with license no.600548. But the license is suspected to be fake clone, such abnormal regulatory status raises doubts about its legality and credibility.Regulated CountryRegulated AuthorityRegulated EntityLicense TypeLicense NumberStatusFinancial Conduct Authority (FCA)Peter LaversAppointed Representative (AR)600548Suspicious CloneWhat Can I Trade on TradeOption? You can trade forex pairs and binary options on TradeOption.Tradable InstrumentsSupportedForex✔Commodities❌Indices❌Cryptocurrencies❌Stcoks❌Mutual Funds❌Binary Options✔Account Type (Minimum Deposit/Leverage) TradeOption offers four types of accounts, including Basic Account, Silver Account, Gold Account, and Platinum Account. The minimum deposit amount for each account is $300, $500, $1,000, and $1,500 respectively, which is higher than the requirements of most brokers. Nevertheless, it does not provide demo accounts.Account TypeMin DepositMax LeverageBasic Account$3001:400Silver Account$500Gold Account$1,000Platinum Account$1,500Trading Platform TradeOption claims to support MT4 and MT5, however, attempts to download these platforms from their site lead directly to the developer's website, MetaQuotes, which means they do not have access to MT4/5 at all.Trading PlatformSupportedAvailable DevicesMT4❌computer and mobile phoneMT5❌computer and mobile phoneDeposit and Withdrawal TradeOption only supports paying via encrypted payments, Western Union, and MoneyGram. Visa and MasterCard, as well as bank wire transfers and electronic wallets such as Skrill and Neteller, are not supported, and there is no specific information about whether handling fees are required.Customer Service You can connect to TradeOption through phone and email. They also offer 7/24 online chat.Contact OptionsDetailsPhone+1(626)790-1319Emailsupport@tradeoption24.netOnline Chat7/24Supported LanguageEnglishWebsite LanguageEnglishThe Bottom Line TradeOption offers forex pairs and binary options, along with diverse account types to choose from. However, the broker's website is currently inaccessible, with only very limited information available. In addition, they lack legal regulation. Anyway, traders are always advised to choose a legally regulated broker.FAQs Is it safe to trade with TradeOption? It is unsafe to trade with TradeOption as it is not legally regulated. What is the minimum deposit at TradeOption? The minimum deposit is $300. What is the maximum leverage offered by TradeOption? The maximum leverage is 1:400.