We have made a short review of BeeOptions and found out that they scored lower than other brokers. As an alternative we have selected the Top Binary Brokers along with unbiased reviews of their safety and trading features.
In this case we cannot recommend BeeOptions and cannot guarantee that this brokers will meet your needs and the alternative for our traders is to Proceed to SafetyProceed to Safety OR to choose a trustworthy broker from the table:
Top 3 Brokers January 2017
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BeeOptions Broker Review
BeeOptions has been in the market since May, 2013. Their owners are UKTVM Ltd, whose offices are located in 37a Chippenham Mews, London, W9 2AN, United Kingdom.
When looking for a binary options broker, we always suggest you to check whether they are regulated or not. This is because regulated brokers are the ones which we encourage you to go for, as they are not scam brokers mostly. This, however, does not imply that any broker that is not regulated is a scam.
In case of BeeOptions, we can see that they are not regulated by CySEC yet.
Is BeeOptions a Scam?
As already mentioned BeeOptions is neither CySEC nor EU regulated – being located in the UK, the company has not yet been able to gain any regulation from any financial regulatory body. So you must keep that in mind before opening up your account with this broker.
This does not mean that the company is scam by default, but you should be cautious. We always prefer that the broker is regulated and that there is no potential of getting scammed from them. But if you still want to go with a broker because of their lucrative offers and bonuses, you must always check their terms and conditions carefully and then plan your strategies or you can choose a broker that is approved from Top10BinarySignals.com
BeeOptions Withdrawal Methods
The withdrawal limit for BeeOptions is $20 or GBP/EUR. This means that you need to have this much amount in your trading account as a balance to withdraw your funds from your account. While this might be a good thing for the traders that the withdrawal limits are low, you must also check the medium through which this withdrawal amount is valid.
In this case, you can only withdraw $20 if you are withdrawing into your credit card. When you are withdrawing via wire transfer you have to have 100 USD/GBP/EUR in your account. They give 1 free withdrawal every month. The additional charges are 30 EUR/USD/GBP for wire transfer and 20 USD/EUR/GBP over credit cards.
There is a catch here: you will not get to receive your trade funds if you have not cleared your bonus requirements. This means that you need to reach your trade volume equal to the bonus amount to request for your withdrawals – which will reach you within 14 days of your request. We think 14 days is a bit too long for receiving your payments, since the other binary options brokers are delivering much faster.
BeeOptions Demo Account
The demo account at BeeOptions is not a free one. You will have to deposit a minimum amount and open your trading account to get access to access the demo feature. Also, simply opening your account does not give you immediate access to the demo feature you will have to contact your account manager once you have made the deposit, so that your demo account is activated.
BeeOptions Promotions and Bonuses
The company gives a chance to win a luxurious watch on deposits of $2500. On deposits of $500, you get 2 absolutely risk-free trades.
Many traders often rush when they see a good promotional offer, but this should not be done without reading the terms and conditions of the bonuses because there are many clauses on the offers which we overlook. Traders who are given a bonus by BeeOptions may not be able to withdraw their funds unless they trade the bonus amount x 30 times. This can cause withdrawal problems with BeeOptions.
With the initial deposit of $250 you will be eligible for a bonus up to 100% and this keeps increasing 125%, 150% and so on, as you upgrade your membership with BeeOptions. So the bonuses offered are neither too high nor too low.
We have found several complaints against this broker on the traders’ forums. But we cannot say for sure if they have not been written by the broker’s competitor. This is why we continue to search deeper. Anyway, most of the complaints have been against the withdrawals. The best thing to do is to read their terms and conditions fully or to choose a more reliable broker.