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Flip-Options Review - is it scam or safe?

Flip-Options review - Is flip-options.com scam or good forex broker?

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

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Flip-Options claims to be a regulated, award wining forex, CFD and binary options broker, offering both fiat and crypto currencies with a choice of three account types, leverage of up to 1:100 and a web based trading platform.

 

Account type Min. deposit Max. leverage Spreads/ Payout
Bronze Account $300

1:100

n/a
Silver Account $1000 1:100 n/a
Gold Account $3000 1:100 n/a

 

As it turned out however, Flip-Options is based offshore and their license claim turned out to be more than dubious. Before depositing any funds with Flip-Options be sure to read the following paragraphs.

 

Flip-Options Advantages:

 

Usually in this section we try to list any possible advantages a broker might offer its clients. In the case of Flip-Options however we were not been able to come up with anything worth mentioning.

 

Flip-Options Disadvantages: 

 

Offshore broker, falsely claims to have a license

 

Flip-Options says to be owned by Finance Group Corp, which we are told is based on Vanuatu, but operated by another offshore company - Cent Projects Ltd., supposedly based on the Seychelles. And they say that Finance Group Corp is licensed in Vanuatu.

 

Not that a Vanuatu license is worth more than he piece of paper it is printed on – offshore regulators like the Vanuatu Financial Services Commission (VFSC) simply lack the capacity to oversee internationally operating brokers - and yet we made the effort an checked the VFSC registers, but were unable to find  Finance Group Corp there. See for yourself:

 

 

So basically we have an offshore broker, which falsely claims to have an offshore license. This is not serious.

 

Otherwise, bear in mind that proper regulation – a license issued by a well known and well respected financial watchdog like the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) or the Australian Securities and Investments Comnission (ASIC) – is the single factor that can guarantee the safety of your funds. So our base advice here is to trade only with properly licensed brokers. 

 

Here you may check our list of brokers regulated by the FCA in the UK, where your funds will even be protected by a client compensation fund, covering up to 85 000 GBP of your trading capital:

 

>>FCA Regulated Forex Brokers<<

 

No real trading platform 

 

When we completed our registration, we were transferred to the client area, where instead of a trading platform we were offered some strange kind of a dashboard without an option to make a trade. Besides, the charts that were provided were taken directly form TradingView – an independent, third party, social network for traders and investors, which allows users to create and share technical analysis and advanced trading strategies on their interactive charts. 

 

 

So basically Flip-Options does not offer a trading platform, which is a clear sign that what we have here is a scam website.

 

Legit brokers on the other hand offer proven and reliable trading solutions like the MetaTrader4 – a professional platform preferred by experienced and beginner traders alike. MT4 features well over 50 integrated market indicators and customizable trading bots, with the help of which one can easily run automated trading sessions. And the platform comes with a fine pack of advanced charting tools as well so here you may also check our list of brokers, supporting the MetaTrader4:

 

>>MT4 Brokers<<

 

Unusual withdraw conditions and fees

 

Flip-Options says they will charge you 20% on each withdrawal if you have not met some minimum trade volume requirement. No legit broker will ever charge a fee like this. See for yourself:

 

 

Also, Flip-Options is charging a 10USD dormant fee after just 30 days of inactivity and this is also unusual. 

 

Trading bonuses

 

This is also typical of scam brokers. Trading bonuses are invariably linked to some additional withdraw conditions, like some minimum trade volume requirement, which quite too often scammers use as a pretext to cancel your withdraw requests. It is not a surprise why trading bonuses are forbidden on regulated markets like the European Union and the UK altogether.

 

High minimum deposit requirement

 

Flip-Options wants an initial deposit of at least 300 USD, while with most brokers you will be able to open a trading account with about 250 USD.  And with some well known names like FBS and IG you can start trading with just 5 USD or even less.

 

Conclusion:

 

Depositing your funds with unregulated, offshore websites like Flip-Options is a recipe to get scammed. And Flip-Options, which does not have a functional trading platform, deliberately tries to mislead its customers that they have a license – this is a clear indication that we are dealing with scammers. Once again, when choosing a broker make sure it is licensed and authorized by a reliable financial regulator like the FCA in the UK, CySEC in Cyprus or ASIC in Australia.

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Traders` reviews for Flip-Options

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