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Trueoptions24 Review - is it scam or safe?

Trueoptions24 review - Is trueoptions24.com scam or good forex broker?

RATING: 1 / 0 REVIEWS Trueoptions24
Trueoptions24 is not regulated. We cannot guarantee your money is safe.

Trueoptions24 is a binary options broker that claims to be regulated by the Financial Conduct Authority (FCA) in the UK, as well as the financial authorities in the US. That, however is not true, so if you are thinking about opening an account t with them be sure to read this review first.

 

Account type Min. deposit Max. leverage Spreads
Basic Account $ 500 n/a n/a
Standard Account $ 1000 n/a n/a
Professional Account $ 5000 n/a n/a
Ultimate Account $ 10 000 n/a n/a

 

Trueoptions24 Advantages:

 

Some crypto binaries available

 

To be hones, it was really hard to find a single positive point about Trueoptions24. There is no information about the trading conditions, they offer, on their web site, and there is no demo account available to check how things look on their platform. Actually, we were not even given access to the platform. 

 

But let us think positive just for a while. It turns out Trueoptions24 offer some crypto binaries with coins including Bitcoin, Ethereum, Bitcoin Cash, Litecoin and Dogecoin. What other trading instruments  Trueoptions24 offers, we can only guess. 

 

Besides, if you like the idea of trading crypto assets, here you may check our list of brokers trading with Bitcoin CFDs:

 

>>Bitcoin Forex Brokers<<

 

Trueoptions24 Disadvantages:

 

Trueoptions24 falsely claims to be regulated in the UK and the US

 

We do not know even where to start. First, we are not even sure, if we can call Trueoptions24 a broker  – the web site is completely anonymous and we are not told the name of the company, behind it. 

 

Second, Trueoptions24 do claim to be regulated by the Financial Conduct Authority (FCA) in the UK and the U.S. Securities and Exchange Commission (SEC).

 

 

Neither of those claims is true. After we diligently checked the FCA registers, we were not able to find  Trueoptions24 there. And as about the claimed US license – SEC does not issue forex licenses, but  instead all US brokers are required to be members of the National Futures Association (NFA).

 

Actually, being a member of NFA is a privilege only a few brokers can afford. Among other requirements NFA obliges all  its members to hold at all times a minimum operational capital of at least 20 000 000 USD. 

 

Needles to say Trueoptions24 is not a NFA member and has no right to offer its services to customers in the US or any other regulated markets like the European Union, where the European Securities and Markets Authority (ESMA) banned all binary options bets in early July 2018. 

 

As always in such cases we strongly advise you to choose only form brokers, regulated by respectable financial authorities such as the FCA in the UK, NFA in the US, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC). Remember that this is the only way to feel safe about your investment on the retail forex market.

 

And besides, here you may check our list of FCA regulated brokers:

 

>>FCA Regulated Forex Brokers<<

 

Trueoptions24 promises returns of up to 1500%

 

If someone promises you rocket high returns with a minimum investment you can be sure it is a scam. See for yourself:

 

 

No information about maximum payout and other trading conditions

 

As we noted, we were not able to find any information about the trading conditions on Trueoptions24 website. Just have in mind that with binary options brokers, the maximum payout is considered attractive, only if it is above 85%. And besides, you can always check our list of forex and CFD brokers, offering tighter spreads:

 

>> Lowest spread forex brokers<<

 

Excessive minimum deposit requirement

 

The minimum deposit requirement with Trueoptions24 is 500 USD and that is twice higher than the average initial investment required by most brokers. And besides, some well established names like FBS and IG do not have a minimum deposit requirement at all.

 

No access to the trading platform

 

When we tried to access Trueoptions24 trading platform we were offered just some charts by Trading View and that was all. See for yourself:

 

 

Besides, most legit brokers support reliable trading solutions like the MetaTrader4, so here you may check our list of MT4 brokers:

 

>>MT4 Brokers<<

 

Various bonuses linked unusual withdraw conditions

 

Of course, Trueoptions24 offers a welcoming bonus, and if you refer a friend you will get an additional bonus. 

 

Have in mind, however, that all such bonuses come with some special withdraw conditions attached, which too often prove rather challenging to fulfill. And besides the practice to offered trading bonuses is altogether banned throughout Europe, precisely because it is used quite often to mislead investors. 

 

Conclusion:

 

Trueoptions24 deliberately tries to mislead its clients, that it is regulated both in the UK and the US. On top of that the website, as we noted, is completely anonymous. All of that makes us believe Trueoptions24 is nothing more than a scam, which we strongly advise you to avoid.

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Traders` reviews for Trueoptions24

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