Trusted Options Forex Broker provides real users with * positive reviews, 1 neutral reviews and * exposure review!
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Trusted Options says its best payout can reach up to 95%, which is too good to be true. They just want to use this to lure you in their traps. I only experienced losses on this platform. And my failure here is a warning, guys.
Summary: Trusted Options has garnered a mixed reputation, with numerous reviews highlighting its potential for high returns through binary options trading. However, significant concerns regarding its regulatory status and user experiences suggest that caution is warranted for potential investors.
Note: It is crucial to emphasize that the presence of different entities operating across various jurisdictions can significantly impact the legitimacy of a broker. Therefore, we have employed a comprehensive approach to ensure fairness and accuracy in this review.
| Category | Rating (Out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 5 |
| Trading Experience | 2 |
| Trustworthiness | 1 |
| User Experience | 3 |
How We Rated the Broker: Our ratings are based on a combination of user feedback, expert opinions, and factual data regarding the broker's operations.
Founded in 2021 and headquartered in Saint Vincent and the Grenadines, Trusted Options positions itself as a binary options trading platform. It claims to offer high returns, with potential payouts reaching up to 95% on trades. The broker operates using the MetaTrader 4 platform, which is popular among traders for its analytical tools and user-friendly interface. However, Trusted Options lacks regulation from recognized authorities, which raises concerns about the safety of client funds and the overall credibility of the broker.
Regulatory Status: Trusted Options operates under the auspices of the International Financial Market Relations Regulation Center (IFMRRC), a body that lacks credibility in the financial industry. The Financial Services Authority (FSA) of Saint Vincent and the Grenadines does not regulate forex activities, rendering the broker's claims of legitimacy dubious at best. According to multiple sources, including BrokersView, the absence of regulatory oversight poses a significant risk to investors.
Deposit/Withdrawal Methods: Trusted Options accepts deposits primarily in cryptocurrencies, which can be a red flag for potential scams, as these transactions are often irreversible and hard to trace. The minimum deposit requirement is set at $50, which is relatively low compared to many legitimate brokers. However, clients face stringent conditions when attempting to withdraw funds, particularly if they have accepted bonuses, which often come with high turnover requirements.
Bonuses/Promotions: The broker offers a 50% deposit bonus, which may initially seem attractive. However, this bonus is tied to stringent withdrawal conditions, requiring clients to achieve a 300% profit before they can access their funds. This tactic is commonly employed by fraudulent brokers to keep clients' money locked in, making it difficult to withdraw.
Asset Classes Available: Trusted Options claims to provide access to various asset classes, including forex, cryptocurrencies, commodities, stocks, and indices. However, the lack of transparency regarding these offerings and the absence of a reliable trading platform raises questions about the actual trading experience.
Costs: The broker does not disclose specific costs associated with trading, such as spreads or commissions, which is a common practice among unregulated brokers. This lack of transparency can lead to unexpected costs for traders, further complicating their trading experience.
Leverage: The leverage offered by Trusted Options is not clearly stated, which is another concern for potential traders. Typically, binary options trading does not involve leverage, but the lack of clear information can mislead clients into believing they are engaging in a more traditional trading environment.
Restricted Regions: Trusted Options claims not to accept clients from specific regions, particularly the United States, yet continues to offer binary options trading, which is banned in many jurisdictions due to its high-risk nature.
Customer Service Languages: The broker provides customer support primarily in English and Spanish. While the support has been noted as responsive, the overall trustworthiness of the broker casts doubt on the quality of assistance clients may receive.
Account Conditions (3/10): The account conditions are lacking transparency, with limited information provided on fees and terms of service. The minimum deposit is relatively low, but withdrawal conditions are stringent and potentially exploitative.
Tools and Resources (4/10): While the platform uses MetaTrader 4, the actual trading experience is marred by issues of transparency and potential manipulation. Users have reported difficulties in accessing the full range of trading tools.
Customer Service and Support (5/10): Customer service appears to be responsive, but the overall trust in the broker diminishes the effectiveness of this support.
Trading Experience (2/10): The trading experience is hindered by the unregulated nature of the broker and the potential for manipulation of trading outcomes. Many users have expressed dissatisfaction with their ability to withdraw funds.
Trustworthiness (1/10): Given the lack of regulation and the numerous red flags associated with the broker, its trustworthiness is severely compromised.
User Experience (3/10): User experiences vary, with some reporting quick withdrawals and responsive support, while others highlight significant challenges in accessing their funds.
In summary, the Trusted Options review highlights a broker that presents numerous risks for potential investors. While there are claims of high returns and a user-friendly interface, the lack of regulation, transparency issues, and stringent withdrawal conditions suggest that caution is warranted. Potential traders should consider these factors carefully before engaging with Trusted Options, as the risks may far outweigh the potential rewards.
For anyone considering using Trusted Options, it is advisable to conduct thorough research and consider alternative brokers with established regulatory frameworks and positive user feedback.
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