OptionWeb Broker Review
OptionWeb was launched in 2012 but fully became an operating company in 2013. It is owned by the Cyprus company named Lionsman Capital Markets, and is licensed and regulated by the CySEC, under the Cypriot government.
Although there are a vast amount of companies that have a CySEC license, there are still concerns regarding safety when opting to open an account with such a broker. OptionWeb operates a trading platform made by SpotOption, but the validity of the regulation is not crystal clear as it could be if the broker had developed their own interface.
You shouldn’t solely select a broker based on the technical aspect of a broker being regulated, but in accordance to its entire reputation that is has in the online trading community. Our team has found that OptionWeb is still has rumors buzzing around of being a scam and we have discovered that complaints are not uncommon. Read our 100% honest review about OptionWeb and find out if they are really a safe broker.
OptionWeb has put a lot of effort into building an enticing website and offering plenty of promotions to attract clientele. They inform their traders about managing their risk and also have documentation to back up their legitimacy. Unfortunately, there are still concerns about OptionWeb participating in fraudulent activities and negative feedback can be found floating around social networks.
OptionWeb claims to be appropriate for pro traders and for newbies just starting out. After careful analysis, we have found that an investment that rewards users with very high payouts for short-term options is very risky. Naive traders are not aware of this and feel as they have been cheated when they lose their money to these types of trades. Surely OptionWeb, could do a better job informing new accounts much better instead of allowing them to risk their initial investment. Traders that are relatively new to binary options trading, also feel that the platform is not as simplistic to provide a seamless experience.
Scam-Rank feels as though OptionWeb is promoting false promises to new traders and that the platform is not beginner friendly as the site claims. This has caused this broker’s reputation to go downhill as more new traders complain that they are being taken advantage of. Since OptionWeb has raised a high degree of speculation, thus we strongly suggest you proceed with caution and choose more professional brokers to invest with.
Is OptionWeb Reliable?
Before initially opting to go with a binary options broker, interested traders must ensure their own security. Online trading has opened the gates to many brokers entering the market, in which have traders questioning a broker’s credibility. OptionWeb proves to be regulated and operated by Lionsman Capital Markets, under a license number 175/12. They are authorized by the Cyprus Securities Exchange Commission and other European regulative bodies, as well as the UK’s FCA.
Although they flash their regulation all over the web, we have come across a few inconsistencies regarding their reliability in payouts that they promote. It can be reported that their payouts keep changing, which is a major concern. When payouts keep fluctuating (especially lowering), it doesn’t allow you to accurately apply confident aspects of the most fundamental trading strategies. OptionWeb markets an 85% payout rate on their site, but sadly they provide something much less.
We are not saying that OptionWeb is a scam due to the fact their actual return per trade percentage is lower, but we know for a fact binary options trading does offer high payouts. There are certainly much better brokers for you to invest your money with.
OptionWeb Assets & Software Platform
The OptionWeb trading platform claims to be one of the easiest platforms available to traders. The interface has a similar set up that resembles other broker platforms on the market, which means that if a trader already has some experience, there is no need to learn anything new. Unfortunately new traders get lost on the interface after being marketed that it’s “perfect” for them as well.
Although there are online educational resources for improved decision making, the material is far too complex to understand. New users complain that the reports they are provided are for financial and economic professionals; not for new binary options traders.
This broker offers 70+ assets to its traders such as currency pairs, stocks, indices and commodities. Moreover, there are trading options including High/Low, Long-Term, One-Touch and Pair Options. OptionWeb promotes more Short-Term options that have expiration times of 30 seconds to 24 hours. Although short term contracts offer high returns, this is not for beginners. New accounts are pitched that this option is a great way to go, which is very wrong on their end. Hence the complaints of many losing their investment. Is it really a new traders fault? Scam-Rank thinks not!
In order to begin, you need to initially register on the OptionWeb site, which is free to open an account. After that, you have to deposit the minimum amount to begin trading, which is 200 USD or EUR, but make sure you choose the correct currency when you register as you are not able change the currency later on. Be careful, as we have found complaints that OptionWeb did not inform its users this important detail and resulted in many complications and difficulty withdrawing funds
OptionWeb accepts various payment methods: Credit or debit card, bank transfers and online payment services like Skrill and Neteller. Additionally, when you are ready to withdraw money from your account, you can receive your earnings following their procedure.
Our team at Scam-Rank can not deem 100% that OptionWeb is another scam, but we highly advise a word of caution. Although they are regulated and licensed, you should do your own due diligence and not depend only on hearsay. A company’s reputation is major key factor when seeking a broker and you need to get a well-rounded perspective. Although OptionWeb markets its self quite strongly, you must be wary when opening an account as their intentions can seem manipulative. This is also the not the easiest platform solution for beginner traders as everything is explained in advanced terminology which has lead to cause many trading failure to others who have tried this broker.
We suggest you check out more reliable and honest brokers that can offer you much higher satisfaction in your overall trading experience.
- Regulated and Licensed
- Not For Beginner Traders
- Complicated Platform
- Only 30 Assets To Trade