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BigOption is a binary options broker that claims to offer a variety of trading instruments, such as forex, commodities, stocks, and indices. The broker was founded in 2008 and is registered in the Marshall Islands, an offshore jurisdiction that does not have strict financial regulations or oversight. The broker has been blacklisted by several regulatory authorities around the world, such as the Ontario Securities Commission, the British Columbia Securities Commission, and the Financial Services and Markets Authority of Belgium. These authorities have warned the public that BigOption is not authorized to provide investment services in their jurisdictions and that it may be involved in fraudulent activities.
So, is BigOption legit or a scam? Based on our research, we have found many red flags that suggest that BigOption is not a trustworthy broker and that traders should avoid it at all costs. Some of these red flags are:
- Lack of regulation: BigOption does not have a valid license from any reputable regulator, such as the FCA in the UK or the ASIC in Australia. This means that the broker is not subject to any rules or standards that protect the interests and rights of traders. It also means that traders have no recourse or compensation in case of any disputes or issues with the broker.
- Negative reviews: BigOption has received many negative reviews and complaints from traders who have used its services. Some of the common issues reported by traders are: difficulty in withdrawing funds, manipulation of prices and charts, aggressive and misleading marketing tactics, unauthorized charges on credit cards, and unresponsive customer support.
- Unrealistic promises: BigOption makes unrealistic promises and guarantees to attract new clients, such as high returns, bonuses, risk-free trades, and professional advice. However, these promises are often not fulfilled or come with hidden terms and conditions that make them impossible to achieve. For example, the broker offers a welcome bonus of up to 100% on the first deposit, but it requires traders to trade a volume of 30 times the bonus amount before they can withdraw any profits.
- Fake awards: BigOption claims to have won several awards from reputable sources, such as FX Empire and Top10BinaryOptions.net. However, these awards are either outdated or fabricated, as there is no evidence or verification of them on the websites of these sources. Moreover, these sources are not credible or independent, as they are affiliated with or sponsored by binary options brokers.
In conclusion, we do not recommend BigOption as a reliable or legit broker for binary options trading. The broker has many signs of being a scam and has been blacklisted by several regulators. Traders should be wary of any broker that operates from an offshore location, does not have a valid license, has negative reviews, makes unrealistic promises, and uses fake awards to boost its reputation. There are many other regulated and reputable brokers that offer binary options trading with better conditions and security.
What to Do If You’ve Lost Money with BigOption?
If you have been scammed by BigOption or any other broker, you’ll want to seek assistance from brokercomplaintregistry.com immediately. Our experts will consult with you and bolster your claim to help you get your money back. Brokercomplaintregistry.com is a leader in recovering your funds and will help you retrieve your funds from a broker scam.