Is WMOption a Scam?
We have made a research of WMOption 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 WMOption is safe. You can Proceed to Safety OR Choose one of the Is-Scam approved and safe Forex Brokers:
There’s nothing better than spending a few hours in front of your computer screen and emerging a thousand dollars richer at the end of every day. When you step into the world of Forex trading, you would find that the choice of not only the Forex but also the Forex brokers is practically limitless. After all thorough research we have come up to the conclusion that WMOption may be a legitimate broker for beginners but it would not bring you the profits you are promised.
Is WMOption a Scam?
This Forex broker doesn’t make any exaggerated claims. But still WMOption does not give a clear picture of what you can expect with the promise of 24/5 Forex trading.
The WMOption’s trading platform leaves a lot to be desired with it’s not very user friendly interface. You first have to choose an asset which can either be Apple, Yahoo or EUR/USD. Then you can go forward with choosing a direction for your asset, the Forex being high or low.
Finally you have to make an initial investment to buy and trade with the broker. You would be able to make profits from over a hundred tradable assets as the software claims but since they have not yet been able show any real proof, it is advisable that you select another approved Forex broker to open account with.
Account Types and Bonuses
One of the reasons why we are investigating WMOption is that it offers a variety of accounts and traders are interested in the bonuses.
- The Rookie Account – is aimed specifically at the beginners and offers them a 20% Welcome bonus, daily market updates and full access to the WMOption platform.
- The Basic Account – is for the traders who have advanced in world of Forex trading. Not only would you be given access to the software, but you will also be assured of at least 10 risk free trades, about 50% of Welcome bonus and even a personal account manager.
- The Silver Account – is akin to the basic account which the difference that you would get a 75% Welcome bonus, worth 250$ of Silver Trading Signals and a personal trading session with an expert on a weekly basis.
- The Gold Account for the exclusive traders who desire personalized support while trading. The account holders get a 100% Welcome bonus but there are special requirements if you decide to withdraw your funds. They can avail the daily market review through mail, a guide to trading and even a regular trading session with an expert broker.
- The VIP Account is one of the most premier of WMOption and caters to the needs of the highly trained professional traders. This account would only be approved by a senior broker and you might need the help of one if you are interested in this account.
Though all these benefits might appear enticing, it must be considered that there is not much that separates the Rookie account from the basic one and the Silver from the Gold one. The benefits of the VIP account are not even clearly demarcated.
How to Get Started?
- Sign Up – You can sign up for free on the platform of WMOption.
- Trade – You have to make an initial deposit after which you can go ahead with the trading process.
- Withdraw – When you feel that enough profit has been accumulated, you should be able to withdraw it. Just make sure your bank can cash in the money and you will be good to go!
Deposit and Withdrawal Procedures
The Rookie account can be opened with a deposit of $200- $499, the Basic account with an investment of $500- $2499, the Silver account for $2500- $9999, the Gold account for $10000- $49999 and finally the VIP account for the investment of $50k and above. Though the withdrawal procedure is claimed to be quite fast with a segregated account, we would recommend you to be careful.
WMOption doesn’t have any mentioned customer care support details. Though there are tutorials from which you can learn, nothing can beat the one on one chat to clear your doubts. This brokerage company can be quite interesting for some of the traders but we recommend them to choose another approved and trusted Forex broker until we can confirm the safety of WMOption.
ConclusionAfter detailed investigation our team concluded that there are better choices than WMOption. 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 WMOption.
We recommend you to Proceed to Safety and avoid scams by choosing High-Rated and Trusted Brokers on Is-Scam.com.