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365 FX Options Review - is it scam or safe?

365 FX Options Review - is 365fxoptions.com scam or good forex broker?

RATING: 1 / 1 REVIEWS ForexBrokerz 365 FX Options
365 FX Options is an offshore broker. Your money is not safe.

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Trading Accounts and Conditions

 

Investment plan  Min. deposit  Leverage Spread/ Payout
Standard  N/A N/A N/A

 

 

365 FX Options presents itself as financial provider specializing in Forex/CFDs and Binary Options trading. Unfortunately, they haven’t disclosed any trading conditions, so we can’t comment on those. Considering that the broker is not regulated, trading costs don’t matter much anyway. Read on to see all you need to know about 365 FX Options prior to investing any money.

 

 

365 FX Options Advantages

 

We usually try to list any possible advantages a broker might offer its clients, but here with 365 FX Options we have no choice but to leave this section empty.

 

 

365 FX Options Disadvantages

 

No financial regulation

 

Click on the image to view larger.

 

As was mentioned above, 365 FX Options’ website isn’t very informative, but in the Terms of Use we read that the broker is owned and operated by Iqoption Ltd. We aren’t sure whether this is true, nor whether this broker is related to former binary options broker IQ Option, or they are just a clone firm. Nonetheless, the company is registered in the Seychelles, a famous offshore zone, so it’s pretty obvious 365 FX Options is not regulated.

 

This means that the broker’s clients are subjected to all kind of risks, the most common of which is that they will never get to withdraw any funds. Furthermore, there may be commingling which means that the broker may commingle together the finances of the firm and the money of clients.

 

Zero clarity on trading conditions

Another worrisome sigh regarding 365 FX Options is that the broker’s website has not disclosed any trading specifics, such as the spreads (or payouts in binary options trading), leverage provided, minimum investment required, etc. It is also unclear what platform does the broker use, if any at all.

 

Furthermore, 365 FX Options does not offer free demo accounts, so we can safely conclude that it’s not transparent at all regarding the nature of the services provided and the pricing.

 

We always view the lack of information as huge negative, but having in mind the regulatory status of the brokerage, it is no surprising it is missing. We would advise clients to always be as informed as possible before deciding to trade with a brokerage. 

 

No real trading platform

So, we opened a real account with 365 FX Options (without depositing any money) in order to get some more information on its offer. As a result, we got access to this:

 

 

Click to zoom in.

 

 

As you can see from the above image, this is not a real trading platform, but only a dashboard to propel the illusion. This inclines us to suspect that 365 FX Options doesn’t have any trading platform whatsoever, and only aims at receiving deposits from clients that are unaware of its ill-minded intentions.

 

That said, most forex traders prefer the good old MetaTrader4 (MT4) platform, which offers some top-notch functionalities, such as the great charting and the automated trading bots simply known as Expert Advisors or simply EAs.

 

 

>> Check out the best MT4 brokers <<

 

 

 

Conclusion

 

365 FX Options is an unregulated brokerage that is anything but transparent regarding its services and pricing. Overall, it seems like one of the many fraudsters on the financial market, so our advice is – stay away.

 

As usual, our best advice in such cases is to recommend dealing only with duly authorized brokerages, in order to minimize the risk of foul play. We like to give as examples those authorized to operate in EU countries like the UK and Cyprus, where the governmental agencies have a set of requirements for financial services providers and see to their compliance. These requirements aim at protecting the interests and the money invested by the clients of such providers, as well as fostering the overall stability on the financial market.

 

 

>> Wanna trade with a broker regulated in Cyprus? <<

 

 

To sum up the above:

 

Pros Cons
Not any significant No legit license
  Zero clarity on trading conditions
  No real trading platform

 

Latest news about 365 FX Options
No news about 365 FX Options . Check back later.
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Traders` reviews for 365 FX Options

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Deposit/Withdraw

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Customer service

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Summary

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