GTOptions Scam Review
We have made a research of GTOptions and 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 Forex Brokers along with detailed reviews for safe and secure trading.
Since we haven’t gathered enough information yet, we cannot confirm that GTOptions is safe. You can Proceed to Safety OR Choose one of the Is-Scam approved and safe Forex Brokers:
GT Options was created in 2011 and offers three types of accounts, each suited to the customer’s different needs: the Mini account is best used by the new trader who is just trying to get a feel of the market; the Classic account is for the serious investor and of course the Gold account suits an experienced professional who knows how to deal with the market’s turmoil. A lot of tutorials and videos are available for free on their website but for some of the advanced lessons you will have to open and fund an account.
As part of their Education material, GTOptions offers a free e-book and a Demo account; however, the Demo is only available if you deposit but it’s still better than not having a demo at all. GTOptions has recently adopted the new SpotOption 2.0 platform. Visually the platform looks appealing and the main features are easy to access.
This broker is not regulated but as we all know regulation doesn’t automatically mean you will never have problems with a broker. Even though GTOptions are not yet regulated, they are in the process and judging by the way they are conducting their business so far, they will probably get the regulation in a short period of time.
Right now everything seems fine with them but our team will keep monitoring if any special developments take place. There have been reports of particular problems concerning their service. Even with all the positive image, it is highly recommended that everyone pays special attention to the details and is very careful when approaching them until a time that proper regulation appears.
GTOptions Demo Account
GTOptions offers its customers a chance to get the feel of their service without too much involvement using their demo account service. This service allows you to experience what you may be able to achieve from their platform without having to take any risk. The service is obviously minimal though and you don’t get the full potential. The trading values are limited and the customer care isn’t very spectacular either. The platform however is still large enough to make you feel very close to the real deal.
GTOption does not provide a fairly convenient withdrawal scheme to its members and the level of access depends on the type of account the customer has. The basic level accounts have their withdrawals either completely limited or are prone to charges if their count goes above one.
The funds can be withdrawn from credit card or bank transfer which costs a steep $25. Proper authentication is also required. As far as the problems as concerned, nothing that worth mentioning has come up so far from consumer.
The Bonus can go up as high as 100% of your initial deposit but a 50% bonus is mentioned several times on the website as well. The trading volume required before a withdrawal can be made is pretty high though: (deposit + bonus) x 20. To avoid any hassle, it would be best if you didn’t accept such a high bonus, but if you do, make sure you know the terms and conditions that come with it.
The main problem that people have had with GT Options is their bonus value. While the amount of bonus they offer is extremely good, the amount of turnover required to generate this bonus is supposed to be 40 times the amount which is very difficult to achieve for most traders. In addition to that, there have been complaints in areas like withdrawal time. However, since there isn’t any sign of regulation so far, it is still highly recommended to take all the cautionary steps before diving in completely. GT Options has complaints on the internet but nothing serious or extremely worrying.
GTOptions seems to be a competitive broker with a good, user-friendly platform. Their website is translated in 7 languages, it has a lot of tutorials and well structured information, Demo accounts are available and the new SpotOption platform works well. Nevertheless, there have been certain complaints that we came across on the internet, so traders should make sure they have done the necessary research before investing with this particular broker. There is no hard evidence of a scam but we recommend that traders pay special attention to details.
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ConclusionAfter detailed investigation our team concluded that there are better choices than GTOptions. We cannot confirm that this Forex broker is a scam, but our research revealed enough traders’ complaints to not make us feel safe trading with GTOptions.
We recommend you to Proceed to Safety and avoid scams by choosing High-Rated and Trusted Brokers on Is-Scam.com.