MyBOption promises profitable opportunities and trading satisfaction to its traders. But is this broker a Big Scam or Not?

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It is no coincidence that this broker comes with so low rank on Google Trends graph and is not recommended by many traders. This is the reason why we doubt that you will make the right choice if you choose to open an account with MyBOption.

There are traders who are not satisfied with the services of MyBOption so we suggest you to Proceed to Safety OR to choose from the Top Safety Brokers, listed in the table below:

TOP 3 SAFE BROKERS

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MyBoption Review

MyBoption is a recently launched binary options broker. They are owned by New Step Ltd which is based in Marshall Islands and their trading platform is managed by Call Creations Ltd, a company that is based in the UK. A quick glance through their website may make you feel that they are a trustworthy and reliable broker. They have managed to design their website in a very professional manner, but when you take a closer look, you will be able to find out the real truth about this newly established broker. Whether you have come across this broker or not, the onus is on us to review them and bring out the facts to ordinary traders.

So now let’s find out if MyBoption is a scam or not.

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Is MyBoption A Scam?

Without any doubt, MyBoption is a scam broker and there are many reasons for this. The number one reason is that they are not a regulated broker. They are not licensed by a financial regulatory authority such as CySEC. There aren’t any positive reviews online that prove that they are a safe broker. In fact, there are some complaints and negative reviews on the web.

The broker claim that they are becoming very popular among traders, there is no truth to it. It will be better if you avoid using this broker and their services because you will risk losing your investements with them.

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Trading Platform

MyBoption doesn’t operate on a third party trading platform. They have developed their own that is definitely failed to meet the expectations of traders. There is nothing about MyBoption’s trading platform that makes them stand out. they also don’t offer a vast selection of assets. They choice of assets is very limited and so are the trading options and instruments.

Account Types and Bonuses

Traders can choose between three types of accounts at MyBoption. The first is the Standard Account where a minimum deposit of $500 is required. Then they offer a Premium Trading Account where a deposit of $1000 must be made. Lastly, they offer Platinum Trading Account which can be set up with an initial investment of $5000. The bonuses you qualify for depends on the type of account you have. They come in the form of welcome bonuses, daily market reviews, trading sessions, trading signals, etc.

Deposit and Withdrawal Procedures

The deposit and withdrawal methods offered by MyBoption include Mastercard, Visa Electron, Visa, Mastercard Debit, China Union Pay, Diners Club International, American Express, bank transfer and some online payment methods such as Moneybookers, Webmoney, EuTeller, Poli, Ukash, Boleto, etc. The minimum deposit amount is $500 which is too high.

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However, there are no details provided about the withdrawal requirements. They have not mentioned what the minimum withdrawal amount is and what requirements you must fulfil before you can request a withdrawal. This is because they don’t really wish to process your withdrawals if you make money with them. Suspended and locked accounts are some of the problems that you are likely to face if you make a request for a withdrawal.

Customer Support Services

If you need any help or assistance, you can give the broker a call on their phone number, send them an email or complete the contact form on their website. There is no instant means of communication available so traders will have to wait to get their problems addressed.

But we really doubt that they have a dedicated team to respond to your messages. Since they are an untrustworthy broker, you cannot expect them to resolve your problems. So it is better that you keep away from them. With reliable and regulated brokers available on the market, you shouldn’t have any problems finding one that will meet your trading requirements.


Conclusion

During our full investigation we checked all the services and features that MyBOption provides its traders. We outlined the most important information about MyBOption in this review and the general conclusion is that there are more reliable brokers than MyBOption with better reputation and higher overall score. Although there is no hard evidence that MyBOption is scam, we can neither confirm its safety nor legitimacy.

We strongly advise you to Proceed to Safety – with the highest reputation binary options broker, which was selected on the basis of the best performance results during our independent testing.

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