We ventured into our search to find this out. We have gathered that this broker rates average and has been around for quite some time in the industry. We display their low results in the graph which can be found below.
Since we are still researching about this broker, we cannot say for sure that this broker is 100% legit. In order to be sure of our traders’ satisfaction we recommend you to Proceed to SafetyProceed to Safety OR choose one from the list of Top Trustworthy Binary Option Brokers:
Top 3 Brokers January 2017
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SW1 Options Review
SW1 Options is a brand new binary options broker. They offer over one hundred assets for traders to choose from and a web based trading platform. On their website, there is also an education centre where traders can download basic learning materials or request one-on-one training. Recently, we conducted a research about SW1 Options to find out if they are reliable or not. In this review, you will learn more about this broker, their trading platform and services they offer.
Is SW1 Options a Scam?
At the moment, we cannot confirm that SW1 is a scam. This is because we don’t have sufficient information about them that proves that they are a scam broker. The broker could be legit, but they are new in the industry and they are also not licensed or regulated. This is the reason we advise traders to choose a broker that is reputable and not one that is new.
The trading platform is web based and doesn’t require download of any application. Although the broker claims on their website that the trading platform is simple and easy to use, we are not provided with any information about which platform they operate on. There isn’t much information available for traders to help them make the right decision.
Account Types and Bonuses
There are four different types of accounts that traders can sign up for. The first is the Entry Level account which can be set up with a deposit of £3,000. This type of account attracts low bonus. The second type of account is the Micro Account which can be set up with £10,000. Traders who open this type of account can qualify for medium bonus. The third is the Macro Account which can be opened with a deposit of £25,000. With this account traders get high bonus.
Then, there is the Pro Account where a deposit of £50,000 is required. Traders get a range of exclusive benefits along with a personal account manager with this type of account. In addition to these account types, SW1 Options offers a Private Placement Program which can be attained by invitation or application. Anyone who is interested in becoming a part of this program can contact their customer support team for more information.
How to Get Started?
Sign Up – to open an account, you have to complete a registration form with your name and other personal details.
Trade – you can start trading only after you have made a deposit into your account.
Withdrawal – the withdrawal procedures are mentioned on the broker’s website and once your account reaches the minimum amount that is needed to make a withdrawal, you can submit the withdrawal form and get your money.
Deposit & Withdrawal Procedures
There are a number of deposit and withdrawal methods available. Some of the major credit cards can be used to deposit and withdraw funds. These include American Express, MasterCard, Visa, MasterCard Debit, China Union, Visa Electron and many others. Bank transfer is also available in addition to electronic methods such as WebMoney, MoneyBookers, Nordea, CashU, EuTeller, Ideal, Ukash and so on. The minimum deposit amount is quite high. To open an entry level account, you need to have at least £3000. At the moment, we don’t know what the minimum withdrawal amount is. The processing time depends on a number of factors and it usually takes about 5-7 days for withdrawals to be processed. A verification process is also required to complete the process.
Customer Support Information
The customer support team at SW1 Options can be contacted via telephone and email. A contact form is also available on their website which can be filled out and submitted to their support department. Live chat service is missing and there is no way to reach their team instantly in case of any urgent problems or concerns.