de | cn | ru

FlexiOptions Review - is it scam or safe?

FlexiOptions Review - is flexioptions.com scam or good forex broker?

RATING: 1 / 0 REVIEWS FlexiOptions
FlexiOptions is not regulated. We cannot guarantee your money is safe.

FlexiOptions is a binary options broker, based in Slovakia. Since July 2018, however, the sale of binary options was banned on the European market altogether, so basically FlexiOptions does not have a legal right to target European customers.

 

Trading account  Min. deposit Max. leverage Max. payout
Starter Account $500 n/a 81%
Basic Account $2500 n/a n/a
Pro Account $5000 n/a n/a

 

FlexiOptions Advantages:

 

A good variety of underlying assets

 

Supposedly, with FlexiOptions you will be able to chose from over 250 underlying assets including stocks, commodities, indices and currencies. Unfortunately we were not able to immediately open a demo account and verify this, and yet we will give them the credit. No crypto assets are mentioned, however, so here you may also check our list of brokers, trading with bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

FlexiOptions Disadvantages:

 

No license

 

There are two problems with the FlexiOptions legal status. First, apart from a contact address in Slovakia, there is no other corporate information on the broker's website. We are not even sure what is the name of the company that runs the broker. 

 

The other issue is the fact that FlexiOptions is not licensed. As we already noted the sale of binary options was altogether banned on the European market since July 2018 and that means FlexiOptions operations on the European market are in practice illegal. 

 

And besides, trading with unregulated brokers has always been associated with an extremely high risk of getting scammed. So here we will suggest that you tray a broker regulated by a well known, financial authority such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC).

 

Here you may also check our list of brokers, regulated in the UK, since a FCA license actually requires the broker to insure your trading funds for up to 85 000 GBP – money that will be payed back to you in the unlikely case your broker files for bankruptcy:

 

>>FCA Regulated Forex Brokers<<

 

Trading bonuses

 

We do no like trading bonuses for one simple reason – they always come with some additional withdraw conditions as for example a minimum trade volume requirement, which too often scammers use as a pretext to cancel your withdraw requests. With FlexiOptions you will receive a trading bonus with your deposit and then you will not be allowed to withdraw until you trade your account at least 30 times.

 

MetaTrader4 not supported

 

This is another negative point. FlexiOptions offers a web based, binary options platform, which is in noway comparable to the industry standard – the MetaTrader4.

 

FlexiOptions platform

 

MT4 has been around for more than 15 years and is definitely the most widely used trading platform on the market. It is light and reliable, and features more than 6o customizable market indicators, as well as trading robots with which you can run algorithmic trading sessions. Besides, the platform has versatile charting tools, so here you may also check our list of brokers, offering MT4:

 

>>MT4 Brokers<<

 

Excessive minimum deposit requirement

 

As an initial investment FlexiOptions wants you to deposit at least 500 USD and that is about twice higher than the minimum deposit requirement with most brokers. Besides, with some big, popular brands like FBS and IG you will be able to start trading with as little as 5 USD or so.

 

Low payout

 

The payout for the benchmark EURUSD pair at FlexiOptions is set at 81% and we find that unattractive. The payout is considered good only above 85%. Still, here you may also check our list of forex brokers, offering tighter spreads:

 

 >> Lowest spread forex brokers<<

 

Skrill not accepted as payment method

 

FlexiOptions says to accept payments with major credit or debit cards like VISA, MasterCard and American Express, wire transfers and PayPal. They do not accept payments with Skrill, however, and that is notable especially since the money transfer company announced its new anti -scam rules, according which its services are available only to brokers with legit licenses. As we already noted, FlexiOptions is not a licensed broker.

 

Conclusion:

 

We understand that since the sale of binary options was banned in Europe, the brokers that provide the service remain with few options to get a license. Still, we can not recommend a virtually anonymous, unregulated broker like FlexiOptions, so our best advise as usual is to trade only with legit brokers, properly licensed and authorized by well known financial watchdogs such as the FCA in the UK, CySEC in Cyprus and ASIC in Australia.

 
Latest news about FlexiOptions
No news about FlexiOptions. Check back later.
Broker Country Regulation Platform Min Deposit Review
US CFTC, NFA MT4, Web,
in-house
$50 Review Website
US NFA, CFTC MT4 $250 Review Website
Cyprus, UK, Mauritius CySec, FCA, FSC MT4, MT5, Web $10 Review Website
Australia ASIC MT4, MT5,
IRESSTrader
$100 Review Website
Cyprus, Australia CySec, ASIC MT4, MT5 $5 Review Website
UK, Australia, South Africa FCA, ASIC, FSCA MT4, Trading
Station,
NinjaTrader
$50 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB MT4, MT5, FxPro
Markets,
cTrader
$100 Review Website
Cyprus CySEC MT4, MT5, Web $1 Review Website
Belize IFSC MT4, MT5 $100 Review Website
Cyprus, UK, South Africa, UAE CySec, FCA, FSCA, DFSA MT4, MT5, Web $5 Review Website
Cyprus, UK CySEC, FCA MT4, MT5 $1 Review Website
UK FCA MT5 $5 Review Website
UK FCA MT4, Web, MT4
for Mac
$100 Review Website
Australia, UK ASIC, FCA MT4, MT5,
cTrader
$200 Review Website
UK, Cyprus, Dubai FCA, CySEC, DFSA MT4, MT5, Web,
PrimeTrader
$100 Review Website

Traders` reviews for FlexiOptions

Spread

Pros

Cons

 

 

Slippage

Pros

Cons

 

 

Requotes

Pros

Cons

 

 

Price feed

Pros

Cons

 

 

Platform

Pros

Cons

 

 

Deposit/Withdraw

Pros

Cons

 

 

Customer service

Pros

Cons

 

 

Summary

Pros

Cons

 

 

de | cn | ru