We were not able to gather enough information with BigOption so we cannot confirm that its safety is guaranteed. The information our team found about BigOption was not enough. We recommend you to choose other broker that can offer you new and better features.
Before signing up with BigOption we advise you to give it a second thought, as there are better brokers with higher score and reliability. We recommend you to Proceed to SafetyProceed to Safety OR choose one of Top10BinarySignals.com approved and safe Binary Brokers:
Top 3 Brokers January 2017
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BigOption used to operate on the SpotOption Platform, but now they have upgraded their platform to the SpotOption Gen 2. This broker has been in the industry for 4 years, they were established in 2011.
Their headquarters are located in the UK and they have an operational center located in Gibraltar. The brokerage company is owned by the Silver Services Ltd. Offering twenty risk free trades used to be a big advantage with this broker, but that reliability was soon tarnished with consumer complaints about financial mismanagement against them.
BigOption – is it a Scam?
As already mentioned, the company has been in the radar for scam alerts because of the numerous accusations from traders. It has been said to reinvest trader’s money without their consent. The management, however, denied any such claims from the traders, maintaining that it was a strategic decision taken in consideration with the terms.
We must also mention here that this broker is not regulated and may be a scam. Our advice is to choose a regulated and licensed broker.
BigOption Withdrawal Methods
Withdrawal is one of the single features which will distinguish the authenticity of the trader. That being said, withdrawal is not an easy factor when you are running your online business. You will have to request for your withdrawal and wait for it to be processed, after that it might take 1-2 weeks for the funds to reach your account. Reviews from other traders make it difficult for us to recommend BigOption withdrawal processes.
BigOption Demo Account
BigOption does not provide you a demo trading account. They provide you a risk free trading account instead, that is claimed to have no risk of losing money. However, the number of such risk free trades is limited and not like demo trading account where you can trade any time as much as you want. If you are a novice trader, this might not be the best option for you.
BigOption Promotions and Bonuses
In BigOption, you can start your trading account with $250 whereby you will be eligible for getting a welcome bonus of 20% under your Micro account. As this account type increases, so does the bonus with each type of account. So for example the Gold Type Account holders, who make an initial deposit of $2501 onwards, are eligible for a 75% bonus and so on.
Those who deposit more than $5,000 become VIP account holders and they are eligible for appointing a personal account manager. A 100% welcome bonus is given only to the Platinum account holders who deposit $10,000 or more.
As you well know you should read very carefully the Bonus Policy of BigOption because you may find disturbing sentences like this one: “To withdraw your bonus, you will be asked to perform a trading volume at least 30 times for each $1 bonus”.
We did research to find out whether the online forums have any complaints registered against this broker, and we found too many of them. It is not yet clear if those are made by the competitors of this broker or genuine traders. But very many complaints regarding their withdrawal scheme and customer services raise an alarm. Sometimes the broker does reply back, but the traders seem dissatisfied with their answers and call them a sham.