Our team of experts tested all the features and services provided by BigOption but the results were not at all satisfying. The overall score of the unbiased research showed low rating in Google Trends and a lack of data about this broker (as you can see on the graph below).
Based on the complaints and the founded comments about the broker we cannot confirm the safety of BigOption. Our advice is to choose another brokerage company from the special selection of Top Safe Binary Brokers along with full and detailed reviews if you are looking for successful trading.
We recommend you to Proceed to Safety OR Choose more reliable Binary Options Broker approved by Top10BinaryApps.com.
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BigOption is a binary options trading broker owned and managed by BigMarketUm Ltd. The broker previously operated on the SpotOption software. It has been in the trading industry for about 4 years. The user platform is easy to navigate and has features such as education center, profollow, auto traders among others. Unfortunately this broker has several clients complains about funds mismanagement and initial investments without the users’ consent.
BigOption claims to up to 85% payouts per standard trade and 74% success rate on short-term options. Though they offer trading videos and an eBook that is supposed to improve the earnings of traders, more users complain of poor services. The auto-trading robot claims to generate a win rate of more than 80%. This rate cannot be verified to know whether it is true or is just another hyped statement made up to assure clients that the platform is genuine.
Is Big Option a Scam?
This broker is not regulated which makes it a very risky platform for traders to use. Licensed brokers prevent problems associated with withdrawals and fraud. Regulatory authorities like CySEC ensure the safety of your money at all times. The fact that this broker is not regulated might be the reason for the negative user comments and reviews about how they handle people’s funds. Regulated platforms are safe and provide users with helpful features that help them increases their average returns.
Big Option Minimum Deposit & Withdrawal
New users require at least $250 to begin trading and are awarded a 20% welcome bonus that is for the micro account. The basic account requires a deposit of $501 with a bonus of 50% and $2501 for the gold account that attracts a bonus of 75% welcome bonus. The highest account is the platinum account that is activated by making a deposit of $10,001 earning a bonus of 100%. Traders should first read the terms and conditions sections before accepting a bonus payment. Most websites require a user to earn over thirty times the initial deposit amount together with the bonus before you can withdraw.
After you log in to their website, you will be required to enter your personal details such as your name, email address and password. Payments can be done by using credit and debit cards or other online platforms like Moneybookers. Withdrawals are approved only after submission of utility bill with your recent address, a copy of your identification document and finally for those who prefer to use debit or credit cards, a copy of your scanned card showing both front and back.
The minimum withdrawal that a trader can request is $250 for wire transfers but $100 via other methods. The withdrawal requests can take up to 7 business days that can be an inconvenience to many.
The software is web based and claims to be compatible with most available devices. This broker does no offer a demo trading account it instead offers a free trading account claimed to have no risks of losing money. The downside to this option is that the number of the offered risk free trades are limited unlike a demo account which can be used as many times as the user wants. Demo accounts are a very important feature for traders because they are risk free and give the trader experience on how the system works. A demo account allows users to make mistakes and learn from them through experimentation of tricks and strategies.
The 24/7 support service which allows live chats does not support multiple languages which leaves out many users whose grievances are not attended to. They promise to make you a millionaire within months so that many people can join them. They offer a mobile app that was created to allow users to access their trading accounts any time.
The app is compatible with both android and iOS and has similar features like those of the standard platform. The website supports only five languages compared to other genuine platforms that have over 21 languages. They offers different trading options such as speed trading, pairs option, 30 second, 60 seconds, ladder options, the standard binary option, weekly and monthly options. It also allows users to trade CFDs AND Forex with returns on $EUR/USD options being 81%.
BigOption has a bad reputation of account managers who invest the traders’ funds without even asking for their permission. The accounts are completely wiped out without the knowledge of the trader. When they finally log in to the account, they only find zero balance with no explanation of why the account mangers invested without consulting them first. There are numerous scam allegations against this broker that only prove that it is not safe. New users are advised to thoroughly research and find out all they can about a broker before signing up and depositing funds.
BigOption is a binary options broker that is gaining negative feedback from traders. Our team experienced customer service issues and this broker has a low overall score due to its unclear Terms and Conditions and the slow withdrawal procedures. We advise our traders to look for a regulated and respectable binary options brokerage company.
BigOption has a bonus policy and return payouts that are misleading. While BigOption might be legit we recommend you not to risk investing and consider other more reliable broker to trade with.