Is Redwood Options a Scam?
RedWood Options Scam Review – The Truth Revealed!
Is RedWood Options Legit? 100% Real Experience.
Withdrawal, Minimum Deposit & Bonuses – See Below!
|Official Website URL||www.redwoodoptions.com|
|Address||1A Arcade House, Temple Fortune, NW11 7TL, London, England|
|Support Number||0 800 520 0936|
|Support Types||Live Chat, Phone, Contact Form, E-mail|
|Minimum 1st Deposit||$200|
|Minimum Trade Amount||$5|
|Free Demo Account||Open Demo|
|Account Types||Bronze, Silver, Gold, Platinum, Diamond, Corporate|
|Deposit & Withdrawal Methods||Credit/Debit Cards, Bank Wire, CashU, Neteller|
|Number of Assets||150+|
|Account Currency||USD, EUR, GBP, CAD, JPY, RUB, AUD|
Redwood Options is a relatively new broker. It first got on our radar in around 2013. It really does not shine the brightest of them all, but the broker has been behaving for the time being. When you first click their page open, it does not strike you with anything you have not seen times before, but in all fairness, it does have some simple, pleasant traits.
Redwood Options are using the SpotOption platform, to which we all are no strangers. However, their homepage is clean and well-organized. At Is-scam.com we always appreciate it when brokers try to refrain themselves from the multimedia, maze-like clutter, they often fall victims to in a silly attempt to look more professional. It diminishes customer satisfaction and frankly, it’s plain annoying!
Kudos to Redwood Options for keeping it fresh and clean!
Redwood Options Withdrawals
The withdrawal process is really straightforward and does not stray that much from the usual. To cash your profits you will need to feed them some personal information like government issued ID or driver’s license which is still valid, of course. Copy of a bank statement or any other official document which can prove you address. And if you are using a credit card, they will need a copy of that (with covered numbers of course).
If you decide to withdrawal your money via credit card, there will be no charges. However, wire transfers are charged a $30 fee.
Redwood Options Complaints
Redwood Options is a relatively new broker so there are only a handful of complaints on the web—if we assume we can trust them, of course. After going through most of them, we saw that the majority have to do with the wire transfer withdrawal fee, which to a knowledgeable trader should not be an issue, because it is a pretty standard thing in this industry.
Redwood Options Legit
Redwood Options are not regulated by the Cyprus Securities and Exchange Commission (CySec), which is one of the most respective regulatory bodies.
The customer support from the live chat informed that they are expecting to begin the verification process with CySec in the months to come. However, she was not specific on when that process might begin, not to mention finish!
However, we did not find any complaints on the Internet of clients not having their money returned or their profits not paid in time. Also, Redwood Options have given their full address on their web-site where they can be physically approached, which leads us to believe, they are not a scam!
Redwood Options Bonuses
Redwood Options do not have a specific page with information about their bonus policy. In order to get details about that, you need to ask someone from customer support (the live chat is handy).
All in all, they have a Refer a Friend Bonus. Every time you refer a friend and they deposit a minimum of $200, you and your friend both get $50.
The welcome bonuses vary. If you put down $250, you get $50 and the bonus can go as high as 100% of your initial deposit. You have to trade thirty times in order to cash it.
However, if you want to get a bonus without having to accomplish any requirements, Redwood Options have an affiliate program. You can choose an affiliate company, like this one www.cashbackbinaryoptions.com and see how to get a cash $120 bonus into your PayPal.
Redwood Options Review
At Is-Scam we touch upon the main specifics that make clients worry in the security of their funds when choosing a broker. Naturally, in our attempt to pin point troubling areas, we omit some of the generic traits of a broker like minimum deposits and types of trading options.
For a more detailed review of any broker, feel free to visit actionbinary.com where you can find a more extensive list on what Redwood Options can do for you!