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Option94 Review - is it scam or safe?

Option94 Review - is option94.com scam or good binary options broker?

RATING: 1 / 0 REVIEWS Option94
Option94 is not regulated. We cannot guarantee your money is safe.

Investment plans

 

Trading account  Min. deposit Profit
Basic Daily  $2 000 2.50% daily
Masic monthly  $20 000  55% monthly

 

Option94 is allegedly a company providing an amazing investment opportunity. The broker has not presented its offer very clearly, but seems to provide binary options via the above investment plans, plus a few more.

 

If you are wondering whether it is a good idea to try out some of Option94’s investment plans and generate some extra passive income, make sure you read this review first. We have major concerns regarding this company.

 

 

Option94 Advantages

 

High profits promised

The major emphasis on the Option94’s website is the promise of spectacular returns. The basic monthly investment plan will allegedly bring you a 55% profit. If you have invested $20 000, which is the minimum, that makes a good $11 000 per month. Not bad, right?

 

However, it remains largely unclear how exactly are these profits generated, before being distributed among Option94’s clients, which, by the way, are allegedly amounting to more than 50k.

 

 

Option94 Disadvantages

 

Not regulated, despite the claims

Option94 is allegedly a brand of LunoForex Pty Ltd., an Australian company, which, according to the information on the broker’s website is duly licensed by the Australian Securities and Investments Commission (ASIC). They have even uploaded the license on the website, however our check in the ASIC’s website has returned no results.

 

 

We also googled the company name and it seems that it is only present on Option94’s website. This basically means that the broker is operating illegally and anonymously, so potential clients have no assurance for the security of their funds, nor any governmental agency to turn to in case they have legitimate complaints.

 

More false claims

The broker makes a lot of false claims, other than the one we discussed above. For example, Option94 claims to have over 52,245 registered members, although the domain was registered a month ago.

 

Click on the image to zoom in.

 

 

 

Furthermore, in an attempt to appear trustworthy, Option94 claims that clients’ funds are kept in segregated accounts at ICC Intercertus Capital Limited – a company, regulated by CySEC. This is quite odd as Option94 has no affiliation with the above company that operates forex brokerage EverFX.

 

Promised returns too good to be true

As we have mentioned, this broker promises skyrocketing returns. The minimum monthly profit promised by Option94 is 55%, and the maximum is over 70%, and Option94 provides no description of the trading strategy they apply, nor any historical performance.  We even don’t know what platform it uses.

 

 

A general rule in any form of investment is that greater returns always come with a higher level of risk, and the website of this broker mentions nothing about it. There isn’t even a general risk warning. For example, forex brokers licensed in Europe are obliged to include such warning on their websites, as well as some statistics on the percentage of clients making losses. Actually, the latter reveal that clients of regulated brokers lose 70% – 80% of their investment.

 

That being said, a monthly profit of more than 70% is too good to be true and incline us to think that Option94 high-yield investment program (HYIP), popular type of Ponzi scheme.  

 

Very high initial investment required, limited payment methods

The minimum investment required by Option94 is $2 000, which is a lot of money. Most forex and binary option brokers require $100 - $250 as a start. Besides, the accepted payment methods are only Bitcoin, Skrill, and Perfect Money. 

 

 

Conclusion

 

Option94 presents itself as an ASIC-licensed investment service provider and promises spectacular returns, but our research on the matter revealed that broker is not regulated and not to be trusted. Furthermore, we suspect that Option94 is actually an investment scam, and more specifically a high-yield investment program (HYIP).

 

To make sure you will not fall victim to scammers such as Option94, you have to follow one simple rule: always choose well-regulated brokers to invest with and check whether they are licensed in the registers of the respective authorities.

 

In case you are searching for a good broker licensed to operate in Australia, check out the below link.

 

 

>> Find the best forex brokers licensed by ASIC <<

 

 

To sum up our review on Option94:

 

Pros Cons
High profits promised Not regulated, despite the claims
  More false claims
  Promised returns too good to be true
  Very high investment required

 

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Traders` reviews for Option94

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