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Twinoption Review - is it scam or legit?

Twinoption Review - is twinoption.com scam or good forex broker?

RATING: 1.5 / 1 REVIEWS
Twinoption is an offshore broker. Your money is not safe.

RECOMMENDED FOREX BROKERS


Twinoption is an unregulated forex, CFD and binary options broker, with an office in London, UK. With them you can open Standard, Bronze, Silver, Gold or Platinum account and trade on an integrated web based trading platform.

 

Account type  Minimum deposit Maximum leverage Spread
Standard Account $5 1:1000 From 1 pip
Bronze Account $1000 N/A N/A
Silver Account $5000 N/A N/A
Gold Account $10 000 N/A N/A
Platinun Account $20 000 N/A N/A
Diamond Account $50 000 N/A N/A

Twinoption Advantages:

 

Binary options available

 

Twinoption offers trade with 27 currency pairs, spot metals and crypto currency CFDs, as well as binary options. 

 

Tight spread

  

When tested with a demo account the EURUSD spread reached 1,0 pips and no commission was taken for the trade. That is inline with what traders usually expect to see. Here you can check a list of FCA licensed brokers, that offer similar competitive spreads:

>>FCA-regulated forex brokers <<

 

Good leverage

 

Twinoption offers leverage of up to 1:1000, which gives enough room for most trading strategies. Still traders should take in mind that higher leverage implies higher risk.

 

Various Account Types

 

With Twinoption you can open an a Standard Account with an initial deposit of 5 USD, a Bronze Account with a minimum deposit of 1000 USD, a Silver Account with 5000 USD, Gold deposit with 10 000 USD, Platinun Account with 20 000 USD and a Diamond Account with 50 000 USD.  The page with the specifications for the different accounts however was not functioning so no further details about them could be provided. You can check here a list of regulated brokers that provide variety of tailored accounts for their customers.

 

Various Payment Methods 

 

With Twinoption you can deposit money with VISA/Mastercard, Skrill, Neteller, Perfect Money, OkPay, Payza, Bitcoin, PayPal and Bank Transfer.

 

Customer Support in 103 languages

 

The website is supported on 103 languages - from English and Esperanto to Swahili and Zulu.

 

Twinoption Advantages Disadvantages:

 

Lack of regulation

 

Twinoption, owned and operated by Twinoption Ltd, is not a regulated forex broker and that is a major setback for all traders who seek security for their investments. Unregulated brokers are not bound by the strict rules applied to the licensed brokers by respected financial authorities such as the Financial Conduct Authority (FCA) in the UK, CySEC in Cyprus and the Australian Securities and Investment Commission (ASIC).

 

FCA, CySEC and  ASIC guarantee the financial stability of their brokers by forcing them to keep at all times a minimum operational capital – 730 000 EURO in the case of FCA and CySEC and 1 000 000 AUD in the case of ASIC. 

 

The financial watchdogs require also all licensed brokers to keep segregated accounts for the money, invested by their clients. That guarantees traders' funds will not be spend by the broker or claimed by creditors.

 

Apart form that FCA and CySEC force their brokers to participate in compensation schemes that insure the trading capital, invested by their clients. Under the Financial Services Compensation Scheme traders with FCA licensed brokers can receive up to 50 000 GBP in case of insolvency of their broker, while with CySEC brokers the compensation can reach up to 20 000 EUR. Here is a list of CySEC regulated brokers, that provide better security for their clients.

 

Just one web -based trading platform available

 

Twinoption offers an integrated web based trading platform, which is designed to support both Forex and CFD trade and binary options. The platform however lacks the functionality of MetaTrader4 – a trading environment preferred by many investors for its intuitive interface, excellent charting capabilities, analytical tools and options to explore historic data. MetaTrader4 is famous also for its customizable, algorithmic trading software, known as Expert Advisers and designed specifically for  the platform. Here you can take a look at a list of traders offering the MetaTrader4:

 

>> Find a good MT4 broker <<

 

Conclusion 

 

Twinoption is an unregulated binary options, forex and CFD broker that offers a single web based trading platform. Spreads as tested are competitive, but investors should consider twice before trusting their money with an unlicensed broker that has not provided even a phone number in its contact details.

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Traders` reviews for Twinoption

about twinoption scam broker platform

This broker is fake , fraud , run by scammer lalan gupta . Please stay away from this scammer lalan gupta and company twinoption.
They will steal your money and never give withdrawal to you.
So please beware from this fraud company and never open any account in this broker platform otherwise you will loss your money and never receive any withdrawal from them

Kashim 05/04/2018
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