Whenever Scam-Rank targets a broker it is usually for two reasons. Either there’s a lot of negative noise in the trading community, or a lot of Traders are migrating to a particular broker and we are curious to see why. WMOption is on the rise and their traders are painting a pretty picture, but are they as good as people are saying?
WMOption Trading Platform
A quick glance at the platform itself is sufficient to be impressed with how things are put together at WMOption. The presentation is professional; the navigation logical and thoughtful, and everything runs pretty smooth giving an excellent first impression. There are various links to the resources available, including some amazing educational articles that are updated regularly. The WMOption site is about as good as we’ve ever seen, which strongly indicates that the team behind the scenes are professionals.
WMOption made a good choice to use the Spot Option platform which is recognized by most traders as one of the best online trading platforms available today. The platform itself is very user-friendly, easy to navigate, and full of tools and extras for both beginner traders and those of you with experience that require a little more. The strategy adviser feature uses technical indicators that make price prediction easier than ever, and the spot follow feature allows traders to easily follow the trades of the more experienced traders. WMOption provides informative and up-to-date charts with candlestick and line options.
WMOption – Is It a Safe Broker?
So as can be seen, a lot is going on at WMOption that makes for interesting reading and paints a clear picture of what’s on offer. The company was established in 2012, and since then no major movements have occurred. Ownership has not changed, company names have not been switched, and the office is the same since the start. This is a strong indicator of legitimacy, since less reputable brokers tend to stay on the move to avoid lawsuits. There are no outstanding warrants against WMOption. In addition, the platform is PSI approved and SSL certified which is also a good sign. One excellent way to confirm if a broker deserves your money is to check and see if your funding is in a segregated account. The best brokers comply with AML (Anti-Money Laundering) rules and the way they do this is to separate their client’s funds from their own. With WMOption, your funds are safely separated from the broker’s, which means you won’t have a problem, even if the broker does.
Every broker firm will have complaints. Those traders making profit mostly sit in silence, too busy working on growing their portfolio. Those who took the wrong position and lost money tend to vent their anger online, some preferring to point fingers rather than face their own failing. This is normal, so you need to filter out the rare and unusual and look for commonalties. If there’s a trend to the complaints then you’d be wise to pay attention. WMOptions complaints can be found, but they center mostly on customer service. Rudeness was the most common complaint, but most of those comment are quite old, so it seems the guilty employees have likely been replaced. There are zero comments suggesting trading platform manipulation or the withholding of funds, and (oddly) nobody seems to be talking about prices, so we can only assume they have been consistently good since the beginning.
WMOption Account Types
WMOption went with the standard $250 to open a Rookie Account. Next up is the Basic Account starting with a minimum deposit of $1000, then Silver Account at $5000, Gold Account at $25,000, and finally VIP Account at $100,000. Welcome bonuses vary from a very high 35% on initial deposit for the Rookie, to an irresistible 100% for the more serious traders opening a VIP account. The volume requirement is only 30X, which beats the industry standard of 40X.
WMOption Tools & Trading
The asset library is average making the top 60 available from the big four groups. The option types available cover High/Low, Pairs, One Touch, Ladder, Forex, with expirees ranging from the now rare 30 sec, 60 sec, 90 sec, 2 min, 5 min, 15 min, 30 min, 45 min, 1 hour and End Of Day. So it’s safe to say there’s plenty of variety and flexibility at WMOption.
The educational tools are open to anyone with an active and funded account, and cover a broad variety of options with a good selection of materials available to help get traders up and running. The WMOption guide which is easily downloaded can be read on mobile devices or desktop and covers every topic of trading, and best of all it is specific to the WMOption trading platform. There’s also an active blog that’s free to access for clients and covers news and new strategies and gives the traders a voice.
There are several ways to get in touch with WMOption. The hotline is available 24 hours a day, speaking several languages, and demonstrating genuine knowledge of their product and the current market conditions. The WMOption mobile app is top of the line with fast executions and a full selection of charts, reports, and other tools to let the mobile trader act while the iron is hot. We tested both the iOS and Android versions of the app alike, finding both to be performing bug-free with full functionality.
The Final Conclusion
WMOption is a binary options broker that has perhaps less resources than some, but what they do offer they do well. They are lacking a demo account which is often preferred by the newbies, but we assume since the trading platform is extremely easy to master it has very little value for most people. The platform performed well for us, and there were no freezing or lagging problems during trade executions. Their prices are average in the range of upper 80s and lower 90s for the larger investments. Assets are, in truth, more than you’ll ever need and you’ll be satisfied by the selection unless you’ve been trading for a while with one of the more obscure assets. If they add another 15-20 assets in the near future they will be toe-to-toe with the biggest brokers in the world. The expiree times are excellent and offer excitement as well as financial opportunity, but if you’re looking for a slow burning long game you’re in the wrong place. Customer service hasn’t been sighted as problematic of recent, and the few customer complaints we managed to find are very mixed indicating nothing worthy of concern.As it stands, there’s just not enough on offer for anyone that isn’t willing to invest higher amounts in more advanced accounts. We also found the minimum $25 trade amount to be way too high for some newer traders starting out. We have reviewed close to a dozen of exceptional binary options brokers that let you trader at $10 (and they’re regulated…here’s our Recommendation List). Just knowing that even the Basic Account doesn’t come with any great incentives, doesn’t really drive us to recommend them. If you’ve worked with good brokers in the past, you know that you’ll get some benefits starting out with a small investment.
It is safe to say, WMOption is not a scam, and offers a very nice package for traders of all levels. We definitely indorse WMOption to be a safe and secure broker that seems to care about their clients.
- Mobile App
- Okay Educational Resources
- 24/7 Customer Service
- No Demo Account Available
- Basic Accounts For Too Weak
- Customer Complaints Concerning
- Bonus Terms Too Steep
- No Regulation At Present