Want to make money trading binary options?
Have you heard about OptionPrime and wonder if it’s legit?
Diminish the risks of binary trading by choosing a reliable broker. Discover the truth about OptionPrime and understand the dangers of investing with this company.
What is OptionPrime
OptionPrime is binary trading platform service launched in August 2013. This new broker has a simple site offering no specific advantages. It does not give clients any financial guidance, investment tools, risk management advice, nor any other meaningful assistance. Does this constitute a scam?
Considering the high risk involved in trading with this financial derivative, one can immediately conclude that, at the very least, OptionPrime is not the safest or most advisable choice for your investment. Comparing it to leading brokers of the binary field, it is easy to understand why.
UBinary is one example of a serious and professional corporation offering you a safe and profitable trading experience. Besides having the best educational center complete with tutorials, videos and financial advisers, it is the fully licensed and regulated in the European Union. This is a guarantee to the safety of your investment. This binary options broker gives you a 100% cash bonus and excellent customer service:
OptionBit is another leading binary company that has so much more to offer you than OptionPrime. It gives clients one-on-one training sessions and has excellent apps for Android and Apple, allowing you to trade from wherever you are. But most importantly, it gives you free access to Algobit, the most advanced signals trading service. The Algobit software identifies market opportunities and performs trades with higher odds of success. All that is left for you to do is approve this trades and enjoy the increase in your profit levels:
TradeRush is another broker that allows you to benefit from promotions that are unavailable with OptionPrime. It offers you more than 80 instructional videos that will teach you trading strategies and risk management techniques as well as a free webinar that you can sign up to and improve your skills as an online trader:
Besides the obvious inexperience and the lack of educational tools, OptionPrime presents more problematic and questionable issues that you should be aware of before choosing where to invest.
A site that presents itself as a financial institution and suggests that you deposit your money with it has to have transparency and be very clear about its whereabouts, ownership and legal status. None of these are present in the OptionPrime site.
There is no mention as to the company’s location, the people behind this enterprise, or the legislation that governs its activities. In other words, you are incentivated to transfer monies to a site that is identifiable by no more than an email address and a phone number.
This type of lack of professionalism and murky posture surely incite rumors of a scam. Even if OptionPrime happens not to be a fraudulent firm, it gives no reason to choose it as the destination of your investment funds.
OptionPrime Trading Platform
OptionPrime is a white label company that does not posses it’s own trading platform but rather uses the platform interface leased by SpotOption, the largest platform provider globally. This is not a problem nor a cause for concern, and only limits the growth potential of OptionPrime. White label companies cannot become public and negotiable on stock markets.
OptionPrime’s asset list is reasonable and their payouts average. All this is of little importance considering the lack of reliability and scam concerns mentioned above. Nonetheless, a larger asset list provides clients with the possibility of creating a better investment portfolio.
OptionPrime caters primarily to the Brazilian and Portuguese markets, although it has some presence in Arab countries as well, most notably U.A.E. and Saudi Arabia. The site is available in six languages, including Spanish, Italian and French. Sadly, the quality of translations is very low. Another indication that this company is absolutely not a serious corporation.
OptionPrime Scam Summary
OptionPrime was launched as recently as 3 month ago. It’s obvious inexperience would be more than enough of a reason to avoid trading with this binary options broker. But more immediate risk exists. Among others:
- OptionPrime is not regulated and offers no financial assurance to investors
- OptionPrime does not offer information about the company’s legal ownership or location
- It is apparently owned by Sanigaw Ventures Limited, based Gibraltar, a territory known for its connection with online gaming
- Education tools on the site are very poor and limited
- Clients will not gain appropriate knowledge from the videos, accessible only for depositing customers
- The bonus offered by OptionPrime comes with limitations to the trader’s ability to withdraw funds
- Clients should be cautious and avoid accepting the bonus money until they clearly understand the risk involved
- OptionPrime fail to inform clients of the volatile and speculative nature of binary trading, or offer help in protecting their investment
For such reasons, it is advisable to deposit your money with reliable and professional binary brokers such as UBinary or OptionBit. Remember that selecting a good broker can make a real difference in the level of profit and the consistency of your success.