Is BigOption a Scam?


Overview

Currently, we are not able to deem BigOption 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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BigOption Broker Review

BigOption is a binary options broker that has strived to achieve a big name for itself. Their helpful and experienced financial experts are ready to assist and educate any new trader – at least this is their motto. There are many reviews that have confirmed BigOption as a dependable broker for trading binary options because of their unique trading platform, high profit returns and welcome bonuses. Their popularity especially jumped due to new comers being offered 20 risk free trades.

Unfortunately, all the above positive points mentioned do not make up for mass number of customer complaints. Worldwide traders have reported that their money was mismanaged and it was reinvested without their approval.

BigOption Trading

The minimum investment needed to begin trading is $250 and you are able to receive a 20% sign up bonus. This is referred to under their Micro account, but if you deposit more than $500 you can opt for a 50% bonus as per their Basic Account. There is also a Gold account which requires a $2,501 deposit, earning you a 75% sign up bonus. Additionally, traders than deposit more than $10,000 can receive a 100% bonus. More advanced trainers can inquire about the VIP account if they have over $50,000 to deposit. VIP members also get their own account manager. Trading binary options with BigOption requires the trader to decide Yes or No, otherwise referred to a Call or Put, in respect to trading for a specified value.

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Is BigOption Safe?

This broker is not regulated and is known as a blacklisted broker, and they are cautioned by authorities. BigOption is operated by Big Markets MU, and due to it being blacklisted, their virtual address keeps changing. There have been a number of authorities who have handed out warnings to this company and the complaints from traders are growing. Since their reputation is growing as a scam binary options broker, they have had to change their registered address twice!

In little words, take your money and run the other way. The website, platform and perks look promising, but BigOption does not have a clean reputation.

BigOption Platform

BigOption offers a web-based trading platform that provides various options such as One Touch, Double Up, Sell Early and a few more. Their platform includes usual data charts, as well as the capability to apply other traders’ strategies.

Additionally, you can make use of their trading robot to make trades for you and contact customer support for trading advice. The BigOption platform is also mobile and table friendly for users on the go. Furthermore, there are educational materials and tutorials you can use to help you trading skills. There are multiple languages that can be applied to the platform such as French, German, English, Turkish and Arabic.

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Is BigOption a Scam?

Many investors dream about making money by trading successfully. Due to the high demand for binary options trading, there are brokers who are taking advantage of traders and deceiving them due to all the interaction being done online, rather than in-person. Big scandals have been assumed regarding clients’ money about it being reinvested by BigOption without their approval. BigOption continues to deny these allegations and say that it was decision that their financial managers deemed vital for the client. As mentioned before, this broker has been blacklisted and the registered address has changed twice. Despite their denial in such accusations, our team encourages you to do your own investigation prior to opening an account with this broker.

More over, a huge number of clients are unsatisfied with the company’s explanation and strongly consider BigOption a scam. Although solid proof is not possible right now to deem this company a 100% scam, you should be cautious. We encourage you to seek a more reputable binary options broker to keep your money out of harms way.

BigOption Withdrawal

BigOption claims that its withdrawal process is transparent and clear for its customers. They further state to provide their clients with the option to withdrawal earnings the same day or upon the trader’s request using payment methods such as credit card, wire transfer, and so on. According to the broker, a trader only has to submit a withdrawal request online or ask their account manager to conduct the transaction.

The controversial feedback given by clients regarding the withdrawal process leaves us puzzled. It is difficult to advise fellow traders to sign up with BigOption due to the big number of complaints we are finding. It is also reported that BigOption is constantly changing their rules for withdrawing earnings and does not inform its clients appropriately.

Final Word

riskWe are unable to deem this BigOption as a safe and reliable broker for your investment. It is understandable that BigOption attracts much attention due to its various promotions and attractive website, but keep guard. Their minimum deposit of $250 aligns with the requirements of most brokers in order to begin using their platform y. As soon as you complete this, you will get access to their educational materials and customer support.

As mentioned,  this binary options broker does raise some alerts due the vast amount of complains and negative reviews we have found. Problems with withdrawals, constant policy changes and reinvestment of customer money are just some of the complaints. We strongly encourage you to do your research regarding this broker. There is speculation of it being a scam, although BigOption denies any of the fraudulent activities we just listed. When it comes to your safety, it’s preferable you opt for a more trusted and dependable broker. 

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Pros
  • Educational Materials
  • Various Account Levels
Cons
  • Not Regulated Nor Licensed
  • Company Blacklisted
  • Withdrawal Complaints
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