Is Max Options a Scam?
We have made a research of MaxOptionsand found out that they do not rate highly and there is no significant data about them. As an alternative we have selected our Top Safe Binary Brokers along with detailed reviews for safe and secure trading.
Since we haven’t gathered enough information yet, we cannot confirm that MaxOptions is safe. You can Proceed to Safety OR Choose one of the Is-Scam approved and safe Binary Options Brokers:
MaxOptions is in the binary options industry since 2012. Their slogan is “Minimum Time, Maximum Profits!” but this statement is not proved to be true – based on the traders’ negative feedback over the Internet. Their trading platform is available only in English. You can choose among 70 different assets.
Max Options is a broker based in Switzerland. MaxOptions has not managed to become regulated for many years. This broker does not offer any bonuses and promotions to the new traders. Our team did not find enough information to confirm that this broker is scam but we still doubt their legitimacy and we recommend you to choose another approved system.
MaxOptions Account Types
Our investigation shows that there is not much of a choice when it comes to opening an account with Max Options. It is a brokerage with very limited opportunities. Even though we do not recommend it, here is the list of accounts you can start with if you decide to join Max Options:
- Mini Account – requires a minimum deposit of $250. It is recommended by Max Options for newbie investors.
- Silver Account – starts from a deposit of $5,000. Max Options suggest it as suitable for people who want to gain knowledge and experience and become experts.
- Gold Account – the initial investment should be minimum $10,000. It is offered for people with a lot of experience, who consider themselves professionals.
- Islamic Account – created for the followers of the Islamic faith, this is an interest-free account.
We tried to evaluate the quality of the offered features that come with every type of account. The results show that the opportunities provided by Max Options are average and are not helpful for the traders. There are much better brokers you can find in the industry, there is no need for you to satisfy yourself with poor quality and lack of diversity.
We also discovered a contradiction on the website, regarding the minimum deposit required to start trading with MaxOptions. In the FAQ section of the brokerage it is clearly stated that the minimum required deposit is $300. This is a misleading factor that has pushed away a lot of potential clients.
Max Options – Tech Problem & Complaints
We tried to learn more about the assets offered for trading by MaxOptions. What we stumbled upon was the complete lack of a list, summarizing all available assets. Except for their number, we do not know which asset type dominates the Max Options trading platform.
In the course of our investigation, we also uncovered a number of different complaints regarding withdrawal procedures and customer support. They are both in a poor condition which is another factor that throws off traders. In our practice we have discovered brokers which are more reliable than Max Options. Thus, our advice is that you consider one of them as your trading partner, because MaxOptions does not seem like a profitable opportunity.
Max Options do not offer a demo account to their traders. This is a big drawback because a demo account gives the opportunity to traders to see all trading features of the platform and to find out for themselves if this broker is suitable for them.
MaxOptions Deposit & Withdrawal
The minimum deposit at MaxOptions Broker is $250 which is a high one compared to other brokerage firms in the industry. We came across some complaints regarding the withdrawal procedure and the time for its processing. The withdrawals made by credit card may take up to 10 business days and for Bank wire – 5-9 working days. There is a service fee of $25 for wire transfers.
ConclusionAfter detailed investigation our team concluded that there are better choices than MaxOptions. We cannot confirm that this binary options broker is a scam, but our research revealed enough traders’ complaints to not make us feel safe trading with MaxOptions.
We recommend you to Proceed to Safety and avoid scams by choosing High-Rated and Trusted Brokers on Is-Scam.com.