Is OptioNow a Scam?

Last updated: February 20, 2017

Summary

Read 100% Expert and Full Review of OptioNow.
Can You Get Risk Free Trades and 100% Bonus?
Minimum Deposit & Complaints – See More Below!

Read Full Review

Details

Broker OptioNow
Official Website URL www.optionow.com
Address 201 Rogers Office Building, Edwin Wallace Rey Drive, George Hill, Anguilla
Support Number +44 203 5192704
Support Types Live Chat, Phone, Contact Form, E-mail
Minimum 1st Deposit $250
Minimum Trade Amount $250
Payout 80%
Free Demo Account Open FREE Demo
Account Types Micro, Standart, Premium, VIP Gold, VIP Platinum, Elite
Deposit & Withdrawal Methods Credit/Debit Cards, Bank Wire
Number of Assets 60+
Account Currency USD, EUR
Overall Score 4/10

Full Review

OptioNow is a relatively new broker that has been getting more and more attention nowadays. We have also received many scam investigation requests about so we decided to go ahead and take a look for ourselves.

From what we could see, things look pretty standard. They use the Spotoption platform, which is not a bad thing, but also it isn’t anything innovative or something that gives them competitive advantage compared to the other brokers. What is interesting is that they have Bitcoin trading, which is something not all binary options brokers have.
With OptioNow the minimum initial deposit is $250 which again is pretty standard. You can trade the following binary option types — PUT/CALL, Long term, 60 seconds, One touch, Ladder and Pairs (for example: Gold vs. Silver). Which is bordering on the industry’s average.

In simple words, OptioNow is plain mediocre as a broker and if you are a more advanced trader, it is very likely that they will not be able to cater to all of your trading needs.

OptioNow Withdrawals

The minimum withdrawal one can make is $100. The funds you want to withdrawal will be sent back to the original source you have deposited in, if this is not possible, OptioNow will send your money to your bank account.

The procedure is pretty standard when it comes to the papers you need to provide the broker with—a copy of ID, copy of a credit card and a copy of a utility bill.

Nothing so far bothered us, except for the $35 fee you need to pay each time you want to withdraw your money, which is unacceptable. Most brokers, and we are talking about good, professional brokers with years of experience, usually throw in a free transaction a month or so. And even if they do charge money for withdrawals it usually no more than $30, which in most cases are only charged for wire transfer fees.

In addition to this, we noticed that the payment methods are very limited, they only support these Credit/Debit cards: Visa, MasterCard, Maestro and Diners, and their second payment method is bank wire.

optionow trading platfroms

OptioNow Complaints

We have found comments on the internet about OptioNow, but as we like to remind readers, you can never be too sure if they are trustworthy or not. However, we found complaints about almost everything that makes a good broker into one. The ones we saw the most times were concerning platform freezes, bad customer service and non-disclosed fees.

We feel like there are enough thriving brokers out there who could offer their clients better conditions.

Is OptioNow Legit?

OptioNow is not a CySEC regulated broker, which does not necessarily mean that they are a scam, but it also does not help them in any way! Being a regulated broker gives traders a certain sense of security they cannot otherwise get by relying on someone’s good word or good Internet score.

We found statements on the Internet, saying that OptioNow may not be legit.

OptioNow Bonuses

If bonuses is what you are looking for, OptioNow is not half bad. They offer a 100% bonus now, so if you wish to have a double your investment trading account, go right ahead. The conditions are very standard when it comes to their bonuses. If you do not want to be tied up with OptioNow’s terms and conditions, you can decline the bonus.

OptioNow Review

At Is-Scam we touch upon the main specifics that make clients worry in the security of their funds when choosing a broker, such as withdrawal procedure, customer support, regulation, etc. Another important thing to keep in mind is what account types the broker offers. Currently OptioNow offers 5 types of accounts:

  • Bronze account – with deposits between $400 – $1,000
  • Silver account – with deposits between $1,000 – $5,000
  • Gold account – with deposits between $5,000 – $10,000
  • Platinum account – with deposits between $10,000 – $100,000
  • Elite account – with deposits above $100,000

Each account type has different benefits and features, such as: webinars, daily signals, account manager, trainings, etc.

It’s important to note that you can also start trading with only $250, without having to open a bronze account.

We noticed that the only ways to contact the broker is by phone or email/contact form. There is only one phone number listed on their website. Also there is no live chat, which can be inconvenient if you want to get a quick answer fast.

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