Broker Review: BQ Options

Today I’m looking at a new binary options broker that promises to have the latest server security technology, and a streamlined platform, BQ Options. The presentation of this brokerage is less professional than most of the brokers that I review. Many of the pages aren’t stylized correctly, and this doesn’t exactly instill me with confidence.

The broker is owned and operated by TradeFinancials Ltd, located in the Republic of Cyprus, licensed by the Cyprus Securities and Exchange Commission (License Number 216/13). To get in touch with the support team, traders can email support@bqoptions.com or phone +(44) 7418 330685.

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BQ Options Review

The main sales page for the BQ Options brokerage focuses a lot on security and support. They really want to push across the message to the average binary options trader, that they are a trustworthy brokerage that does everything they can to ensure that “all your data remain private and secured.” I do appreciate this approach, but considering how much emphasis they are putting on these factors, I do believe that they should be providing us further detail about the security and why it’s so top of the line.

Outside of the front page, the only other information about the broker is on the about us page. This page is very poorly formatted, and seems to be missing a video or image at the top left-hand side. Considering there are only 2 pages available, it is some cause for concern that one of the pages is this poorly put together.

Here they tell us that that they are one of the leading binary options brokers in the industry with the payout as high as 81%, but I’m not so sure they are as big as they claim. The main reason I say this, is just because I’ve never heard of them until today, and is very little information about them anywhere online.

Details

Type: Broker
License: CySEC
Located: Cyprus
Company: TradeFinancials Ltd.

The broker is licensed which is a plus, but there isn’t a lot of compelling information that is drawing me towards the sign up button. In going through the site a couple of times, I’m really not sure if there’s anything that differentiates them from your normal binary options broker. I would like to see more, and hear more.

Statistics

There is a strange section on the BQ Options front page labeled stats. Under this headline we are told that they currently have over 333,000 clients, over 9800 platforms and millions of completed trades. I take issue with all of these numbers, and I don’t believe them to be true.

I think that the creators of this brokerage are trying to compete with the big boys, by pretending to be one. With such a minuscule footprint online, I don’t see how this broker could have more than just 5000 clients. Yet, they claim to have over 330,000, this just doesn’t seem right.

Another number I take issue with is the platform number. Every binary options broker on the market uses one platform, so I’m not sure why this broker is claiming to use almost 10,000. Honestly, I don’t think there are more than 10 platforms available to serve the binary options market. This statistic makes the broker come across as uneducated when it comes to binary options, and that’s also quite concerning.

Conclusion

At this point in time, I can’t recommend anyone register with BQ Options. The statistics section of their webpage is something that I take major issue with. When I’m looking to sign up and invest my money with a company, I want them to be as transparent as possible. In this case, I believe that the owners of this brokerage are intentionally deceiving us in order to seem bigger than they are. There’s nothing wrong with being a small brokerage, but there is something wrong with pretending to be something that you are not.

Thank you for visiting my review, and please let me know what you think about it, and what you think about binary options in general.