ZXMarkets Forex Broker

365 FX Options Broker - Comprehensive Information Guide

1. Company Overview

　　365 FX Options, previously known as 365 Binary Option, operates under the ownership of IQ Option Ltd and is registered in the Seychelles, a well-known offshore jurisdiction. The firm has established itself in the online trading arena by offering forex and binary options trading services. However, it is important to note that the broker lacks a valid regulatory license, which raises significant concerns regarding its legitimacy and the safety of client funds.

　　The company primarily targets retail traders, providing access to various financial instruments, including forex, CFDs, and binary options. Despite its claims of having a professional team specializing in different financial domains, the lack of transparency regarding its operations and trading conditions has led to skepticism among potential clients.

　　Since its inception, 365 FX Options has undergone several changes in its business model, transitioning from binary options to forex trading in response to regulatory pressures. This shift indicates a need to adapt to the evolving financial landscape while attempting to maintain a diverse product offering. The broker's operations are primarily focused on providing trading services to individual clients, although there is little information available about institutional services or partnerships.

　　The parent company, Fintech Software Inc., has its registered address in the Marshall Islands, further complicating the regulatory picture. The business model employed by 365 FX Options primarily revolves around retail trading, catering to individual investors looking to engage in forex and binary options trading.

2. Regulatory and Compliance Information

　　The 365 FX Options broker operates without regulation from any reputable financial authority. This absence of oversight is a significant red flag for potential investors. The company claims to have offices in various locations, including New Zealand, Singapore, and South Africa, but no valid licenses from local regulatory bodies such as the Financial Conduct Authority (FCA) in the UK or the Australian Securities and Investments Commission (ASIC) have been obtained.

• Regulatory Bodies: None
• Regulatory Numbers: Not applicable
• License Validity and Scope: No regulatory license
• Legal Entities in Different Regions: Primarily registered in Seychelles
• Client Fund Segregation Policy: Not provided
• Investor Compensation Fund Participation: Not applicable
• KYC and AML Compliance Measures: Limited information available

　　The lack of a regulatory framework means that clients are exposed to high risks, including the potential for fraud and the inability to recover funds in the event of insolvency. The absence of KYC (Know Your Customer) and AML (Anti-Money Laundering) policies further exacerbates these risks, as there are no measures in place to verify the identities of clients or to prevent illicit activities.

3. Trading Products and Services

　　The 365 FX Options broker offers a range of trading products, primarily focusing on forex and binary options. However, specific details regarding the trading conditions, such as spreads, leverage, and minimum deposit requirements, are not transparently disclosed on their website.

• Forex Currency Pairs: The broker claims to offer a selection of approximately 30 currency pairs, including major pairs such as EUR/USD, GBP/USD, and USD/JPY.
• CFD Product Categories: 365 FX Options provides CFDs on commodities, indices, stocks, and cryptocurrencies, although the exact number of available instruments is not specified.
• Unique or Special Products: The broker's primary focus remains on forex and binary options, with no mention of unique trading products or specialized offerings.
• Product Update Frequency: There is no information available regarding the frequency of product updates or the introduction of new instruments.
• Retail Trading Services: The broker primarily caters to retail traders, providing access to its trading platform.
• Institutional Client Services: No information is provided regarding services for institutional clients.
• White Label Solutions: There is no indication that the broker offers white label solutions or asset management services.

　　The lack of clarity regarding trading products and conditions poses significant challenges for potential clients seeking to understand the offerings of 365 FX Options.

4. Trading Platforms and Technology

　　The 365 FX Options broker utilizes a proprietary web-based trading platform that bears resemblance to traditional binary options trading platforms. This platform lacks many of the advanced features commonly found in industry-standard platforms like MetaTrader 4 (MT4) or MetaTrader 5 (MT5).

• MetaTrader 4/5 Support: The broker does not support MT4 or MT5, which are widely regarded as the leading trading platforms in the industry.
• Proprietary Platform Details: The web-based platform provided by 365 FX Options is simplistic and lacks advanced charting tools and functionalities that traders typically expect.
• Web-Based Trading Platform: The platform is accessible via web browsers, but its features are limited compared to more established trading solutions.
• Mobile Applications: There is no information regarding the availability of mobile trading applications for iOS or Android devices.
• Execution Model: The execution model employed by 365 FX Options is unclear, with no indication of whether it operates as an ECN, STP, or market maker.
• Server Location and Technical Infrastructure: Details regarding server locations and the technical infrastructure supporting the trading platform are not provided.
• API Access and Automated Trading Support: There is no mention of API access or support for automated trading strategies.

　　The limitations of the trading platform may hinder traders' ability to effectively analyze markets and execute trades efficiently.

5. Account Types and Trading Conditions

　　The 365 FX Options broker offers limited information about its account types and trading conditions. Specific details regarding minimum deposits, spreads, and commissions are either not disclosed or poorly defined.

• Standard Account Conditions: Information on the standard account type, including minimum deposit requirements, spreads, and commissions, is not readily available.
• Advanced Account Types: There is no mention of VIP or professional account types that may offer enhanced trading conditions.
• Special Accounts: The broker does not appear to offer Islamic accounts or any specialized account types.
• Demo Account Policy: No information is provided regarding the availability of demo accounts for practice trading.
• Leverage Ratio Range: The leverage ratio offered by 365 FX Options is unspecified, making it difficult for traders to assess their potential risk exposure.
• Minimum Trade Size: The minimum trade size is not disclosed, leaving potential clients without crucial information for planning their trading strategies.
• Overnight Fees Policy: There is no information regarding overnight fees or swap rates applicable to trades.

　　The lack of clarity surrounding account types and trading conditions is a significant drawback for traders considering engagement with this broker.

6. Fund Management

　　The 365 FX Options broker provides limited information regarding its fund management policies, including deposit and withdrawal methods, processing times, and associated fees.

• Supported Deposit Methods: The broker accepts deposits via bank transfers, credit cards, and electronic payment systems, although specific details are not provided.
• Minimum Deposit Requirements: The minimum deposit requirements for different account types are not disclosed.
• Deposit Processing Time: The processing time for deposits is unspecified.
• Deposit Fees: There is no information available regarding any fees associated with deposits.
• Withdrawal Methods and Restrictions: The broker does not specify the withdrawal methods available or any restrictions that may apply.
• Withdrawal Processing Time: The processing time for withdrawals is not clearly stated.
• Withdrawal Fees Structure: Information regarding withdrawal fees is also lacking.

　　The ambiguity surrounding fund management policies raises concerns about the broker's transparency and reliability in handling client funds.

7. Customer Support and Educational Resources

　　The 365 FX Options broker offers limited customer support options, which may hinder traders' ability to seek assistance when needed.

• Support Channels: Contact options include phone and email, but there is no mention of online chat support or social media engagement.
• Service Hours and Time Zone Coverage: The service hours and time zone coverage for customer support are not specified.
• Multilingual Support: There is no information regarding the languages supported by the customer support team.
• Educational Resource Types: The broker does not appear to offer comprehensive educational resources, such as webinars, tutorials, or eBooks.
• Market Analysis Services: There is no mention of daily analysis, news updates, or research reports provided to clients.
• Trading Tools: The availability of trading tools, such as calculators, economic calendars, or signal services, is not specified.

　　The lack of robust customer support and educational resources may deter potential clients from engaging with the broker.

8. Regional Coverage and Restrictions

　　The 365 FX Options broker primarily serves clients from various regions, although specific information regarding its market coverage and restrictions is limited.

• Main Service Markets: The broker claims to target a global audience, but specific regions are not detailed.
• Regional Office Distribution: The company claims to have offices in multiple locations, including New Zealand, Singapore, and South Africa, but this information lacks verification.
• Countries/Regions Not Accepted: Specific countries or regions from which clients are not accepted are not disclosed.
• Special Restrictions: There are no indications of special restrictions that may apply to certain regions.

　　The unclear regional coverage and lack of transparency regarding client acceptance pose additional risks for potential traders considering 365 FX Options as their broker.

　　In conclusion, while the 365 FX Options broker offers a variety of trading products, the absence of regulation, transparency, and clear trading conditions raises significant concerns. Potential traders should exercise caution and conduct thorough research before engaging with this broker.