CloseOption is a widespread binary options brokerage. Despite the regulatory ban, the company runs its business from the US to Europe.
Our detailed CloseOption review should reveal some truths about the brand. Read carefully and learn how to keep your money safe.
CloseOption is a Georgian-based binary options brokerage. As such, the company should have a license from the National Bank of Georgia. As a matter of fact, they claim to have one, even providing us with a license number.
Upon checking the website of the said bank, we found no traces of Organic Tech LLC, an owner of the brokerage, or the CloseOption regulation number. The web search shows 0 results for both, implying that the firm trades unregulated.
If you have information about CloseOption that could be brought to regulatory attention, please share it with us.
CloseOption is a Georgian-based binary options broker without a license. The company was banned in the US due to illegal activities.
The CFTC added closeoption.com to their red list, warning investors to stay away.
Our research of the broker site shows that the majority of victims come from the following countries:
You’ll find only one CloseOption trading platform, which is disappointing. It’s an oversimplified WebTrader, without a single special function. You can place a call or put positions, and that’s about it.
You’d get so much more with third-party software such as MT4, MT5, or cTrader. Besides advanced functionalities, each of these platforms provides a higher level of fund safety. Millions of users prove you can trust any of them over a lackluster web-based platform that can be used only via a mobile web browser.
This broker offers binary options trading and some Forex assets. While it’s unclear whether you can trade binary options on any asset other than currency pairs, we know nothing more. There are no fees, commissions, or leverage.
Getting into the unknown with an unlicensed broker is pretty risky. That’s how people usually lose their hard-earned money.
Well, there are no CloseOption account types per se. This firm has decided to go with a single account, requiring a minimum deposit of $5. According to the website, you can invest $5, but a minimum trading size is $1.
However, we found mentions of Diamond and the VIP account without any specifications. It says you can get more perks by upgrading, but we haven’t seen a list of these. All in all, sounds like a lure to extort more money from you.
Yes, you can use a CloseOption Demo account. You can try different trading strategies and see if binary options are the type of trading you’re looking for. It’s probably the only benefit of this investment firm.
Note that scam brokers often display their better side while offering a risk-free account. Once you deposit the real money, you will begin to understand all the bad sides of trading with a fraudulent firm.
Bonuses, promotions, and other incentives are banned by all major regulators. Since CloseOption already showed us it doesn’t care about any regulatory regime, no wonder they offer a bundle.
When registering an account, you can get an additional $10 to trade. Currently, there’s an active promotion for 44% of your deposit being credited into your account. At the time of writing, the promotion was valid for another 12 days.
However, the link leading to bonus T&C is inactive, while standard Terms and Conditions don’t specify what happens when you accept bonuses. Usually, you cannot withdraw your profit for a certain period or until you reach an impossible rollover.
Let’s take a look at viable payment options:
It’s unknown why the firm only accepts one credit card brand but not the other major one – Visa card. However, note that if you transfer money via crypto, you cannot request a chargeback, and tracing your funds becomes more challenging.
According to reviews we found, CloseOption withdrawals are nearly impossible, so stay on alert.
CloseOption is a binary options brokerage firm offering this investment type despite a regulatory ban. If you’re one of the scam victims, don’t beat yourself too hard.
In fact, you can book a free consultation with our chargeback experts and CipherTrace crypto analysts, and we’ll look into your case thoroughly. It’s not all lost. Contact us today!
CloseOption is not a regulated trading brokerage. If you find yourself unable to get a withdrawal, contact us, and we might be able to help.
No, CloseOption provides lackluster browser-based software with no special features.
The minimum deposit with CloseOption broker is $5.
CloseOption is not a regulated trading brokerage. If you find yourself unable to get a withdrawal, contact us, and we might be able to help.
No, CloseOption provides lackluster browser-based software with no special features.
The minimum deposit with CloseOption broker is $5.
The post CloseOption Review – A Binary Options Broker Without a License appeared first on Global Fraud Protection.
