Are rumors about a TopOption scam true?
Is this binary options company a fraud, or can you earn money with this broker?
If you want to profit from binary options trading but are unsure whether TopOption is a reliable broker and a serious firm, read this article and find out the truth about this firm’s reputation.
To better understand why TopOption might not be the most trusted binary options broker, you must first learn what the leading, professional brokers of this industry offer their clients.
OptionBit for example, offers advanced tools that are absent from TopOption. This binary broker, the second largest and perhaps most experienced globally, created the most innovative free signals tool, Algobit, with which to take advantage of the most profitable market opportunities. This signals software has the ability to detect trades by using sophisticated algorithms. Known for its high bonuses, seriousness and professionalism, OptionBit also offers you one of the largest asset lists with which to create a winning investment portfolio:
Banc de Binary is the best example of a company that provides you with a real advantage for your trading success. Besides offering multiple educational tools, a huge welcome cash bonus and the highest payouts in the market, it gives you the most qualified team of professional investment advisors, who make sure you receive ample help with your trading techniques. An excellent choice for your profit-making efforts:
Although TopOption also offers a one-on-one training service, it cannot be compared to the one created by Banc de Binary, a company that has set the bar for personal online trading tutorials. Traders have reported a huge increase in the accuracy level of their predictions after using Banc de Binary’s financial advice.
What is TopOption?
TopOption is a recently formed, somewhat inexperienced binary options company. It’s actually a white label firm, leasing the SpotOption trading platform. This broker began offering its services only a few months ago by launching a very complete and impressive site. So who is behind this hefty investment?
TopOption is owned by Safecap Investments, a financial firm based in Cyprus. Although it presents itself as a fully regulated binary options company, TopOption is actually using the status given to Safecap as a result of its ownership of Markets.com, a large Forex and CFD’s site.
Moreover, Cyprus is currently facing a huge financial crisis and its banking institutions have had to be bailed out by foreign funding. This is hardly the type of government you would like to have as a guarantee to your investment’s safety.
Is TopOption Legit?
Although it is a relatively new company, TopOption is not a scam, nor does it have a site that is murky about the risks of binary trading. Therefore, the fraud accusations this broker might face are not comparable to those pointed at Cedar Finance.
And though the regulation given by the Cyprus Security Exchange Commission is not a very strong warranty, it still shows an attempt at providing customers with some sense of assurance. That is why, comparatively, TopOption has had its name involved in scam rumors much less than most brokers, and that is a good sign.
While it is not a scam, how does TopOption compare to other brokers? The answer is that it is still far from being able to compete with the customer service and professional investment advice provided by the top brokers in the binary field.
The TopOption Site
Offered in ten different languages, this binary broker has invested in creating a dynamic and visually interesting site, focused on a message of reliability and trading education.
In terms of content, the site itself is simple and straightforward, without much innovation to offer. With payouts in the average-to-low market levels, the TopOption platform doesn’t have too much appeal.
The trading environment itself is standard SpotOption software, which enables you to choose stocks, commodities, indices and currencies, as well as pairing currencies and predicting which will out-perform the other. In most cases you get no return at all for out-of-the-money predictions.
All in all, as far as the site goes TopOption shows enough transparency and provides enough information so as to not be suspected of being a scam. This is a step in the right direction which will hopefully be maintained.
TopOption Market Share
In the few months it has been online, TopOption has been able to make an impact in the Italian market. This country has imposed strict rules to binary options brokers, and the Italian government has launched a campaign to alert citizens of scam risks related to the binary field.
With many major companies being black-listed by the authorities, TopOption was able to seize the opportunity and gain some much needed space in this major European country.
Investing heavily in expanding within the continent, TopOption has also seen some success in France and Spain, and is nowadays attempting to enter the sought after German market. In regards to English speaking countries, the presence of this broker is so far meaningless.
TopOption Scam – Summary
- TopOption is a recently launched binary options company
- Owned by a major Forex site, it has been able to expand fairly fast in this market
- Nonetheless, TopOption still lacks the experience needed to become an optimal destination for your funds
- Scam allegations against TopOption have been scarce, due to the site stressing the risks of binary trading sufficiently well
- Although not a fraud, it is still too early to know if TopOption will become a meaningful force in the binary field
- Meanwhile, you should give preference to more reliable binary brokers and protect your investment