Is OptioRally a Scam?
Is OptionRally Broker To Trust Or a Scam To Avoid?
Find Out in This 100% Detailed OptionRally Review.
Complaints, Withdrawals, Bonus Policy –
Full Scam Investigation Results – See Below!
|Address||Level 5, 7 & 8, Two Exchange Square,8 Connaught Place, Central, Hong Kong|
|Support Number||+852 39733738|
|Support Types||Live Chat, Phone, Contact Form, E-mail|
|Minimum 1st Deposit||$250|
|Minimum Trade Amount||$25|
|Free Demo Account||Open Demo|
|Account Types||Mini, Standard, Executive, VIP club, Islamic|
|Deposit & Withdrawal Methods||Credit/Debit Cards, Bank Wire, Skrill (MoneyBookers)|
|Number of Assets||60+|
|Account Currency||USD, EUR, GBP|
Alternatively see our Porter Finance SCAM Investigation
OptionRally is a new broker, created only three years ago, in 2011. Their headquarters are situated in Cyprus, like most other brokers’ and they claim to be the first binary options broker to introduce the Iphone and Android mobile binary options trading apps.
However, they are based on a regular Spotoption platform—entirely web-based and does not require any additional software downloading, which we no longer consider a competitive advantage, but an industry standard.
An upside to this broker are their education section and their asset list. As an OptionRally client you can invest in over 100 different assets which is pretty decent. Their education section is pretty thorough, you can find videos, e-books, webinars that come with a calendar so that you can choose the most convenient one for you. They also have an extensive glossary so novice traders can be well prepared for whatever comes during their trading experience.
The average payout for a winning trade is about 78% and you will get a 10% tops return if your options expires out-of-the-money. These numbers are, again, pretty much up to the industries standard, but nothing impressive.
OptionRally WithdrawalsThe minimum withdrawal amount is $100. You can do that the regular ways—bank transfer, Moneybookers, credit card withdrawal. They say it takes about 48 hours for the money to process for a credit card withdrawal, which is pretty unrealistic. Sometimes they take up to a week. A wire transfer takes about 9 business days.
Before withdrawing you need to provide OptionRally with proof if identity and address. So basically you need to give them copies of an ID or driver’s license, utility bill and credit card if you are withdrawing via credit card.
OptionRally ComplaintsWe did find some complaints online which mostly had to do with slower than promised withdrawals and “bonuses that tie you up.”
First off, the withdrawal issue we get—brokers are known to exaggerate a bit when it comes to how long it takes to process money. Every trader has had been annoyed with something like this at least once or twice. It is frustrating, yes, and most often it is the broker’s fault, but this is why you have customer support. Pester them until you get what you have bargained for!
Second, the “they tie me up with their bonuses” is something that is entirely your fault. We always advice traders to read the terms and conditions before accepting or depositing any money! Brokers are obliged to mention how many times you need to trade the bonuses amount in order to be able to withdraw it and OptionRally makes no exception.
Is OptionRally Legit?OptionRally is not a CySec regulated broker. They do have a SSL encryption, which is the bare minimum when it comes to the safety of your funds, to be honest.
OptionRally BonusesTo avoid future misunderstandings and rants, we will let you know here that when you receive your welcome bonus you need to trade its amount 30 times before being able to cash out.
That’s right, you do get welcome bonuses with OptionRally. They depend on the type of account you choose to open. The highest you can go is 30% if you open a VIP Club account. You get further bonuses for redeposit. The highest you can get is 15%, again, if you are a VIP Club account holder.
Just keep in mind that the more bonuses you get the number of trades you need to make before withdrawing it also increases! If you are not up for that, we advise you to decline the bonus.
If you do not want to be engaged with executing an insane amount of trades before getting your promised bonus you can always take advantage of OptionRally’s affiliate program. With some companies www.cashbackbinaryoptions.com you can get up to $120 cash, straight to your PayPal account.