ProofOption is a binary options broker that claims to offer the most generous payouts in the industry. The company boasts of putting together a team of experts in Forex trading, risk management, derivatives, international laws, and regulation to see to it that their clients are satisfied. Proof Option takes pride in ensuring the best customer experience for trades with over 81% binary options contracts. The company is based in Park Ave, New York 10154. The company’s team of experts work on a 24/7 hour basis. As such, for any inquiries, you can reach them on email address: email@example.com and phone number 0555255234.
In this fast moving world, money is undoubtedly ruling the markets. As such, the popularity of binary options brokers has spread far and wide. This has come with its setbacks. Fraudulent brokers have spawned and continued coning people of their hard earned cash. Therefore, this article will help you establish if ProofOption broker is a scam or legit. On that account, I will highlight ProofOption’s features and why it is a possible scam broker.
If you are new in this industry, then you do not have to worry. Investing with ProofOption will see to it that you gain some trading skills from their free demo account. Other than that, their services are fully web-based. As such you do not have to download any software to start trading. The company promises that their website is user-friendly to save time.
The service is fully compatible with the top rated binary options software here at Binary Today.
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The company takes pride in investing in the latest technology that ensures their customers’ information and funds are secure. ProofOption have employed the SSL encryption technology for all card deposits and credit. The company further claims to work day and night to ensure that customers enjoy a safe trading environment and platform. As such they have SSL certificates to prove their efficient security features.
First, the broker allows both credit and wire bank transactions. The minimum amount allowed for deposits is 200 in your state currency. The maximum amount allowed for deposit is $20,000 when using credit cards and unlimited amount when transacting with banks. On the other hand, for withdrawals, the minimum amount allowed is 100 in your state currency.
Moreover, Proof Option uses swift codes in collaboration with banks during transactions. Swift code is an 8 digit code given by the bank to traders as a security feature.
In addition, the company requires a list of documents to show proof of ownership when depositing and withdrawing including:
- A copy of credit card (if used)
- Proof of address
- A photo of an ID
The company offers a $50USD referral bonus if you make three times the amount of money deposited by the referred person. The minimum amount allowed to earn from referrals is $200USD.
ProofOption, boast of dealing in the most popular currencies today. That is, AUD, USD, GBP, JPY, EUR. Therefore, no matter where you are, you can trade with this company.
So is ProofOption a Reliable Broker?
To start, please note that this review is based on the community’s opinion that is, previous users and our investigation to help you make a sound investment decision.
Firstly, the company has very low popularity. This shows that they have accumulated very few visitors over the past few years of operation. As a trader, this is a red flag since most legit brokers attract masses to their website.
Secondly, there are no testimonials of successful trading in Poofoptions website. In fact, most testimonials, according to our findings, are of people who claim to have been scammed by the platform. As a result, this raises doubts about the reliability of the company as an investment platform.
Other than that, according to Web of Trust (WOT), a web service used to rank the trustworthiness of websites, ProofOption website has an unknown trustworthiness score. This proves that the company cannot be trusted with your money.
Moreover, the company has 0 social media actions in all its social media platforms. That is, on Facebook, Stumbleupon, Google Plus, Pinterest and Twitter. ProofOption social media activity is demanding according to the named platforms. Given the popularity of binary options in the current generation, a legit binary platform is expected to be popular in Social Media.
In their withdrawal feature, the company allows cancellation of withdrawals. While else it may seem like a good feature, the company goes ahead to promote the action. They encourage one to cancel withdrawals to fund their accounts. This is a red flag; it proves that the company is interested in your money more than your trading needs. If you invest to make money, then there is no point in leaving the money in your account.
Although ProofOption is a new website and it can be excused for lack of popularity, there is still reason to questions its reliability. Therefore, having explored both sides of the broker option, the company has proved to be a potential scam. In addition, most fraudulent platforms are new in the industry. As such, there is a need to be extra watchful before investing in any broker. Although the Binary Options industry is believed to profit a good number of traders, it is not a get rich quick scheme. Therefore, investing your money is not a guarantee of profits.
ProofOption Deposit $200
Price - 55%
Ease of Use - 61%
Platform - 66%
Feedback - 41%
Support - 66%