Is BeeOptions a Scam?


Overview

Currently, we are not able to deem BeeOptions as a safe binary options broker. We highly advise you to proceed with a trustworthy and reliable broker. For a more reputable binary options broker, choose from the list of other safe and highly reviewed brokers.

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BeeOptions Evaluation

BeeOptions is a binary options broker that launched back in 2013, so they are relatively still new to the binary options industry. They are owned by UKTVM Ltd., located at 37a Chippenham Mews, London, W9 2AN, United Kingdom with phone number +44-203-695-0389 (United Kingdom) and e-mail: support@beeoptions.com. We have found that BeeOptions is not regulated by any financial authority, thus we cannot list a license number.

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BeeOptions uses the popular platform SpotOption. We found that the overall functionality is average and it still needs improvement. The platform itself is a bit congested causing navigation confusion and should be a bit more organized to come close to other great software. Furthermore, when you open an account you’ll receive a free eBook, which provides information about the website. One of the problems with their eBook is that there isn’t enough beneficial insight regarding trading or analyzing charts.

Overall, there are no special features or distinct perks with BeeOptions. Everything they have has been done by other brokers. When opting to get the most out of your investment and ensuring an exceptional trading experience, it’s better to go with a regulated broker that has more unique services to offer you.

BeeOptions Complaints

Our online and forum searches have concluded that feelings regarding BeeOptions are very diverse. There were enough comments to understand that some traders enjoyed this broker’s services and didn’t mind the fuzzy platform. On the other hand, there were many others expressing that BeeOptions scammed them of their investment.

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The majority of complaints were provided by interested traders who took advantage of the Demo Account, stating that their trades had gone well in “demo” mode, but in “real” mode, it was a disaster. There are brokers who do optimize their demo performance to lure in potential accounts. We do not want to say that BeeOptions does this, but comments do point in this direction.

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BeeOptions Bonus

Our team acts as what you call “mystery shoppers” in order to find out the real truth on how brokers perform their services. We contacted one of their Live Chat representatives to inquire about their bonus policy and we found out that if a trader deposits $150, they’re entitled bonus is $50. More over, a deposit of $1,000 receives a bonus of only 25%. We found that these numbers weren’t the best we’ve come across, especially knowing that the stake is 30 times the deposit, plus the bonus, which we found it too high. You should know that you cannot withdraw your deposit until your reach that trading volume.

BeeOptions also continuously pushes its traders to take on other promotions like 250% or an Apple product, but a certain amount of minimum trades are required. We have found that their bonus policies aren’t very clear, and that many traders complain about not understanding the Terms and Conditions, resulting in never being able to withdrawal their money.

 BeeOptions Withdrawal Process

According to the BeeOptions website, it claims that withdrawals are conducted within 3 days and then a trader will receive their earnings to their account. The minimum withdrawal for credit cards is $20 and for a bank transfer it is $100. This broker offers only one free withdrawal transaction per month while all other extra withdrawals will experience a surcharge of $20 for credit cards and $30 for bank transfers.

The withdrawal process takes longer than the broker claims, averaging up to 14 days for earnings to be received. We tried contacting their customer support in order to inquire about the delay, but reaching a representative was very challenging. We find that their customer support isn’t always available to assist in complications. Also be aware, that if you accept the bonus terms, you will not be able to withdraw your funds until you meet their trading volume.

 Is BeeOptions a Scam?

BeeOptions is accused of its platform being mediocre, but thus far, it doesn’t point in the direction of a total scam. Since they’ve only been operating since 2013, we do advise a word of caution because such non reputable brokers can shut down pretty quickly. It’s suggested that traders take an extra step and also do some research to find out if BeeOptions is ideal as a broker. We weren’t not able to uncover a substantial amount of data regarding them, so trusting them 100% is not something we advise.

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 BeeOptions Trading Platform

riskThe BeeOptions trading platform is average; nothing special about it. Their minimum deposit amount lines up with the requirements of most brokers, and in order to begin using their platform you are required to fund your account with $250. As soon as you complete this, you will receive their eBook that includes information about their software.

As mentioned, there isn’t anything eye opening about the information included in the eBook, so traders aren’t given any additional insights to better their experience. Moreover, although their market news data is up to date, it’s only an overview of what already happened. So once again, there is nothing special in their features as soon as you open an account.

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Pros
  • Popular SpotOptions Platform
Cons
  • Unattractive Bonus Percentages
  • Unavailable Customer Support
  • Not Regulated