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OptionField Review - is it scam or safe?

OptionField Review - is optionfield.com scam or good binary options broker?

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

Trading Accounts & Conditions

 

Account type Minimum deposit  Min./Max. bet size Payout %
Classic $100 $5/ $2 000 Up to 79%
Pro $2 000 $10/ $5 000 Up to 84%
Elite $10 000 $100/ $10 000 Up to 84%

 

OptionField is an offshore broker that offers trading in forex and binary options on the MetaTrader 4 platform. It provides the above account types to binary options trades, while its forex offer is not that clear.

 

Binary options are Over the Counter (OTC) derivative financial instruments which enable traders to invest a fixed amount of funds and receive a predetermined return on investment depending on the price movement of an underlying asset within a predetermined time-frame. They are considered as a very risky type of financial instrument and are therefore banned in many jurisdictions.

 

 

OptionField Advantages:

 

MT4 allegedly supported

A few brokers actually use the MetaTrader 4 fr binary options trading, so this is surely an advantage for OptionField. This industry-leading piece of software, developed by fin-tech MetaQuotes is still the favourite of many traders for its ease of use, speed, top-tier charting, with a lot of indicators and customization options. Besides, there are wide range of automated trading systems developed for it, which one can use for free, buy at the MQL marketplace or create by himself.

 

However, we could not get OptionField’s MT4 going for some reason, and even if we could we would not recommend dealing with an offshore broker.

 

 

>> Better MT4 brokers <<

 

 

Many trading instruments, including cryptocurrencies

OptionField offers trading in various assets, including forex, commodities, stocks, indices, and several cryptocurrencies. The latter are extremely popular in recent years and a number of forex and binary options brokers have added Bitcoin and other digital assets to their product portfolios. However, only a few of those companies are well-regulated.

 

 

>> Licensed Bitcoin forex brokers <<

 

Wide range of payment methods

Clients of OptionField are able to deposit and supposedly withdraw via credit/debit, bank wire transfer, Neteller, PayPal, Qiwi, POLi, OKPay, China UnionPay, Astropay, Skrill, Entropay, and Upaycard. Bitcoin is also accepted.

 

 

OptionField Disadvantages:

 

Registered offshore

This broker is owned and operated by OptionField Ltd., a company registered in St. Vincent and the Grenadines (SVG). SVG is a popular offshore destination for forex and binary options brokers, as taxes and legal requirements are very lax. The problem for clients of such a companies is that there is no guarantee they will ever get to withdraw any money from their accounts.  Besides, the binary options providers are mostly referred to as scams.

 

Because of this and the gambling nature of binary options bets ESMA has banned binary options altogether (as of July 2, 2018) and will most likely expand the initial three-month prohibition till the end of the year.

 

WebTrader platform too simple

As regards the other platform offered by this broker, WebTrader, this is a simple web trading interface devoid of any advanced tools and analytics. Here is a screenshot:

 

 

Withdrawal fees

According to the information on the broker’s website withdrawals are charged with a fee of 1 % for credit cards and wire transfers.

 

 

Conclusion

 

The offer of OptionField might seem attractive to some traders, as it claims to support the good old MT4 platform and offers a number of promotions, such as Crypto Cashback, on-deposit bonuses, and a referral program. Anyway, we would not recommend investing with this broker, as it isn’t regulated. Many of those offshore forex and binary options brokers run elaborate scams, designed to steal money out of gullible investors.

 

To sum up the essentials regarding OptionField :

 

Pros Cons
MT4 allegedly supported Registered offshore
Many trading instruments, including cryptocurrencies WebTrader platform too simple
Wide range of payment methods, as well as bonuses Withdrawal fees

 

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Traders` reviews for OptionField

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