OptionExpert.net is a website created to trade binary options. The reviews about the optionexpert.net platform are quite diverse: someone considers this to be real money, someone the next online scam, a hype, someone even regards it as a financial pyramid. But we will understand in more detail.
The main characteristics of the resource
The main platform features listed on optionexpert.net include:
- OptionExpert.net offers up to 88 percent profit on each transaction, an exclusive approach to each trader, a comprehensive educational program, and quick withdrawals.
- The site is developed in two languages.
- The minimum deposit is 11,200 rubles. The minimum transaction amount is about 560 rubles.
- The maximum withdrawal amount is 280,000 rubles.
- There is a bonus system to attract new traders.
- Withdrawal of funds - 3 business days. For one withdrawal, 3% of the commission from the withdrawn funds is paid. The first time this is done for free. You cannot withdraw funds without paying a deposit.
- The program allocates 4 types of traders depending on the amount of the deposit.
- There are free demo accounts for about 28,000 rubles where you can try the broker program.
- A simple platform for trading, which provides: the name of the asset, 3 types of time expiration (30, 60 and 120 seconds or minutes, it is not clear), the amount of the bet, percentage of winning, 2 buttons (decrease or increase).
This is what the broker offers, but is it really so? Next, we will analyze the real picture based on reviews about OptionExpert.net and analysis of their site.
4 types of traders
On the OptionExpert.net platform, there are 4 types of traders who have different rights:
- Micro. This status is given immediately after registration. In fact, with this status you can only try your hand with a demo account. The deposit is not replenished, which means that bonuses, training videos, manager’s account, economic calendar and withdrawal are not available.
- Mini. This status will appear after replenishment of the deposit by 11 100 - 28 000 rubles. In this case, bonuses up to 50% on deposit, one risk-free transaction up to 25%, signals for a month, economic calendar and withdrawal of funds are available. The application for withdrawal of funds is processed up to 48 hours.
- Standard. It will appear if you replenish the deposit by 28 100 - 55 900 rubles. Access to 100% deposit bonuses, bonus codes, one risk-free transaction up to 50% of the deposit, "Manager" personal account, economic calendar, free webinars, training videos, alerts, daily analytics, market review, fundamental and technical analysis. Withdrawals are made within 24 hours, and once a month you can withdraw free of charge.
- Premium To obtain this status, you will have to replenish the deposit by 56,000 - 280,200 rubles. Among other things, there will be open access to two leading analysts, communication with the manager at any time, access to VIP webinars. The withdrawal request is processed within 12 hours.
Thus, the more a deposit is made, the more accesses and bonuses are opened for traders.
License
By going to the OptionExpert.net website in the License section, you can see that the platform is owned by Hottrade Investments Ltd, a document was issued by the Cyprus Securities and Exchange Commission CySEC. The license itself is located at https://optionexpert.net/_page/license. Reviews question the availability and validity of the license.
This is easy to verify. If you drive into the search on the CySEC website the license number or company name, then information about the license and Hottrade Investments Ltd cannot be found on the website. This means that the license information is invalid and the license itself is invalid.
In addition, the CySEC website has a list of unapproved domains that are not regulated and do not belong to the commission. Optionexpert.net got to this list. After this fact alone, the credibility of the broker should completely disappear.
Hottrade investments ltd
If you search the web for information about Hottrade Investments Ltd., you can stumble upon a few more similar sites belonging to this company. These are Option101.net and MyWinOption, they were created before OptionExpert.net and still exist.
They can be called OptionExpert.net doubles, the same conditions, the same types of traders, bonuses, etc. Reviews about them are sharply negative, many call these companies fraudsters.
Terms and conditions of OptionExpert.net
You should carefully read the terms and conditions of the platform, as well as reviews on the evaluation of the site OptionExpert.net. There are some interesting points in the rules:
- A concept such as collateral is introduced - money that must be invested in a company, not counting profit, loss and withdrawn funds. The company has all rights and powers in relation to such a pledge.
- The company is not responsible for the information provided on the website published by the broker and other persons. And all information must be verified by the client in reliable sources. A really strange point is that the company encourages it not to believe.
- Withdrawals may be prohibited. If a trader has made a deposit of 200-10000 dollars, then he must complete more than 50 transactions. This broker explains that the platform was created for trading and the trader is obliged to work out a deposit by completing 50 or more transactions. By the way, they promise a conclusion within 7 days. Indeed, some brokers establish mandatory transactions, but only for working out bonuses, but not for working out a deposit.
As you can see from the information presented, having carefully read only the usual rules and conditions, you can understand that something with this broker is not clean.
Bonus system
Earnings site OptionExpert.net all built on a bonus system. Only bonuses broker attracts new customers. But if you carefully study the entire program of bonuses, that is, information for reflection:
- Bonuses can be 100% of the deposit. Unprecedented generosity from a broker. If this were true, the broker would go broke long ago.
- Bonuses can be accrued only with a deposit of 28,000-114,000 rubles. (500-2000 dollars).
- To withdraw funds, it is necessary to complete 50 transactions within 30 calendar days from the moment of opening the account, the initial deposit should be 500-2000 dollars. If the amount on deposit exceeded 284,000 rubles. (5000 dollars), then you still need to deposit 500-2000 dollars into a real account.
From the reviews about https://optionexpert.net, people are more concerned about the bonus program itself, rather than making money on binary options.
Types of Fraud
Negative reviews of OptionExpert.net say that the platform uses several methods of fraud:
- Representatives of OptionExpert.net offer to earn money on job search sites or social groups. They give bonus codes that can be entered on the platform and receive funds for trading. Trading is almost always a plus. But to withdraw funds, you need to deposit money in the amount of 11,300 rubles. (200 dollars). Then it turns out that you can withdraw only by having a deposit of 28,000 rubles. (500 dollars). After that, something will not work out, since access to the output will not open.
- An offer of cooperation with a trader who is looking for partners. The trader explains the reason for finding a partner by the lack of time for trading. And he offers his username and password on the broker's website with an existing account, in exchange for a percentage of profit. The account, of course, is constantly growing, but in order to withdraw funds, you must again lay your own.
- A letter of earnings arrives in the mail. For example, a certain Ivanov works as a programmer and can easily generate bonus codes on the OptionExpert.net website. But since there are rules by which it is impossible for one person to enter a lot of bonuses, he offers you to register and enter his codes, receiving money into your account with the condition that you transfer 50% of the earnings to Ivanov. You enter the codes, the profit grows, but in order to withdraw, of course, you must deposit your 11,300 rubles. ($ 200), and then another and another.
Real reviews
In real reviews of OptionExpert.net, people note:
- The inconvenience of the platform itself. It is very simple, there are no necessary functions for successful trading, there are no tools for analysis: candlestick chart, indicators. You can only make deals.
- The demo account is one of the smallest, only 28,000 rubles. (500 dollars).
- Persistence of managers who require to replenish deposits.
- Too much advertising, which often indicates a broker's dishonesty.
- There is no training information that is important for beginners. Such information is present with all trusted brokers.
- A young company that has been on the market since August 2017.
- When replenishing the deposit, bonuses are automatically credited so that it is impossible to withdraw money.
- It is in many blacklisted brokers.
Positive reviews
On the Internet there are a large number of positive reviews about the site https://optionexpert.net, which talk about the reality of high incomes, quick withdrawals and an excellent platform for earning. But such reviews should be called into question.
Many are written as carbon copies, no one wants to provide screenshots of the withdrawal of money for confirmation. Trading on the platform itself is not discussed, only the introduction of bonus codes and withdrawals. Although in the first place, this is a binary options broker, which is not mentioned in the reviews. You do not need to trust such reviews about https://optionexpert.net.
conclusions
Can I trust OptionExpert.net? From the reviews about the platform, a careful analysis of the site and the information provided by the broker, we can conclude that this broker, whom you can’t even call him, is only a fraudulent site. And all the positive reviews are bought or written by the company representatives themselves. Do not invest in this company.
How to distinguish scammers from real binary options brokers?
From the above information, the site’s ratings and the reviews about OptionExpert.net, several conclusions can be drawn that distinguish a real broker from a scammer:
- License. Each binary options broker must have a license issued by the regulator, the validity of which can be verified. If the regulator is not familiar or the validity of the license cannot be verified, you should refuse such a broker.
- Youth sites and brokers. It is harder for young brokers to check, since there are no truthful reviews, no experience, the trader cannot know how the broker will behave. Preference should be given to trusted brokers. Of course, this is not an axiom. There are brokers who have long been on the market, nevertheless they become unscrupulous. And, on the contrary, the young show themselves on the good side.
- Ease of site and platform for trading. Often, scammers do not try to bring their sites in proper condition: there is no training information, there are no programs for market analysis, the site itself does not have full information about trading with a broker.
- Reviews Before making a deposit, you need to read real reviews about the broker. It is best to read reviews on special forums and trust those who have long been in this field.
- Advertising. The more advertising, the more wary you need to treat the broker.
- An invitation to trade through spam, messages that come to e-mails, if you are not subscribed to the newsletter, cold calls.
- Risk-free. Trading binary options is always risky. If someone says the opposite, they are definitely scammers.