WM option is a binary options brokerage we’ve been testing here at binary today for the past few months. The broker uses the spot option platform and does a good job at simplifying the trading process.
Today I’ll be providing a full review including my experiences and giving the binary today readers an area to air any grievances they may have.
Your Rating: [ratings id=”33563″]
WM option review
My first impressions of the WM Option broker are positive. The brokerage is using the spot option version 2 trading platform which is very simple and straightforward. There’s nothing overly special about this broker as their focus is on reliability and service. The returns are good and there are no strange extra fees or trading conditions to worry about.
I have very few complaints about this binary options broker, the only negative aspect I see is that they don’t go above and beyond. They are using a very common platform and don’t seem to differentiate themselves from other binary options brokers. This isn’t a major issue.
The WM Option offices are displayed on every page: Omni Global Solutions SRL Bucharest, Third sector, 17 BABA NOVAC street, ground floor, Bl. G13 ,2ND entrance, Ground Floor , suite 45, District 3 , Romania. The brokerage was founded in mid-2015 and has a very positive reputation online. I believe that this broker is an up and comer and while I may not recommended today I believe that we should keep this on our radar moving forward.
Video Review
The WM option trading platform provides traders with candlestick charts which allows traders to better analyze the markets within the platform. It’s common for traders to do most of their analysis in meta-trader 4 but the charts in this brokerage allow for traders to do some analysis inside the platform, which is a nice option to have. Their platform also provides a strategy advisor which provides predictions based on common binary options technical indicators. I prefer traders do this work on their own as I don’t feel like any binary options broker utilizes indicators properly.
The brokerage does include an Academy section where they keep all their educational materials. Here there are live webinars as well as a system that allows traders to receive live trading signals. I’ve not tested the WM option signals and I usually don’t ever use binary options broker signals so I won’t say that this is a must have feature.
They offer a variety of trading accounts starting at $250 and going all the way up to $50,000. There are quite a few options here but no matter what your level of trading, you can start with this brokerage.
I don’t believe that I will be recommending WM option over the top rated binary options brokers here at binary today but I do believe we should keep them in mind for the future. I think that this brokerage shows a lot of potential but I would like to see if they are able to sustain their clean reputation over a longer period of time. If you have anything you would like to add to this review please leave your comments or questions below the article now. Thanks for coming to binary today and have a wonderful start to your weekend.
the old name was OptionsXO then they changed there name to wmoption.com then to primecfds.com and the new name is wisebanc.com they are Scam from Israel ! they try to operate like a real company but they are Scamartists ! (let you trade with your real Money on Fake Demo accounts etc…) they to all that you pay in more and more… and they are helping you to loss all, or never pay out !
go the to Police and make a complaint this is important !! if there are more Complaints then its better, this is what you can do, dont be shy at that ! google for times of israel optionsxo then you will find the Story with there Boss Orion Service EOOD (old Company Toro Media)
there are a lots of other named Scams who OptionsXO is behind it ! they doing Money washing and money laudering and finance terrorism !
O. M. G. I feel sick l hv just joined WMOption they pressured me to hand over $7,000 and he took it without the correct Doccuments. I sent an email stateing l was crying and screaming that l was a pensioner they kept on saying to me it will OK. I thank you for this info and I’ll be going to the Bank.
Call your credit card company and ask to do a charge back
Hello Victoria,
Did you manage to get your funds back from these fraudsters?
First, let me respond by saying that Christian Molina has been busy on many sites with an almost duplicate post on each one; however, there is no such name on our payroll, nor has there ever been – fake or otherwise.
Second: a return of 70% is quite standard for simple options throughout the industry. Mr Molina does not say anything about the 400% return on other types of options – also standard throughout the industry: the higher your risk, the higher the return; and that is true in hedge funds, trust funds and any kind of financial investment. And yes, brokers everywhere are remunerated based on their performance – as are sales people in clothing stores and what-have-you.
Perhaps Mr. Molina works for another firm and gets paid to slander the competition; I doubt very much that he has spent much time in ANY firm, given that he allows himself to advise clients on investments after a 5-day course (perhaps explaining why he feels it necessary to use a pseudonym here and elsewhere). The vast majority of our desk-heads are actually experienced day traders with a formal education in either economics or business administration. In fact, we are quite proud of WM, which has recently attained regulatory status in Oceania and is actively engaged in receiving the same in other regions!
The vagueness of Mr. Molina’s statements even reach so far as his mentioning of the “Chargeback” procedure – one that only exists by law in the US and one which requires a substantiated complaint. This most certainly would not apply to an investment made on our platform, on the New York Stock Exchange, or even at your neighborhood bet shop.
Finally, in financial trading in general, the cost of acquiring and retaining a client is such that it cannot be viable unless that client is prepared to invest a minimal amount in order to cover that cost. Generally speaking, an investor who does not have the personal responsibility of researching his asset before investing in it is one who we are quite simply not interested in. Just as one would employ a lawyer to read a home purchase contract, just as one would not buy a new car without examining its specs of a used one without taking it to a garage to check for oil leaks – we at WM are not interested in gamblers but in informed investors
Perhaps, Mr. Molina thought to make a quick buck and due to his own ineptitude – failed.
Media Relations
WMOption
Stay away from WMOption (now PrimeCDF’s).
I have been trying to get my money out since the 04/04/17, I’ve sent many emails and they have rang me twice, the first time was a few days ago, I answered but they hung up almost straight away and never rang back, then again today, the phone rang for 5 seconds so I didn’t get a chance to answer, I think they are going to cancel the withdrawal and say they tried to contact me. I’m not sure if I will ever get my money, but I will keep trying.
WMOption has a far from hassle free withdrawal, their website states it will take up to 3 business days to process and approve the withdrawal and then up to 5 business days to see it in your account, not true. The email you receive confirming that they have received the request also states that it has to be approved by your account manager, he never calls or if he does he will only try and stop you from taking your money.
I have now attempted to withdraw money 3 times, the first two times it took over 5 business days and many many emails for the account manager to contact me, when he did he was very pushy and talked me out of withdrawing my money, the same thing happened the second time as well. This is my third attempt and I will not be talked out of it again but it is now 9 days after I submitted my withdrawal and I still have not heard from anyone.
I’m trying to get $8000USD and they just refuse to contact me. I have sent many many emails again and several live chats, all I get is “The senior account manager will contact you when he has time”.
I agree with Christian, they are scammers, they will intentionally lose your money so you can’t try and withdraw it. It happened to me, I have now lost $12,000USD and they tried to lose my $5000USD recently on oil but it didn’t work and I ended up winning $3250USD.
Stay away from this company.
Mark, what is your contact email?
I also lost a lot of money to this scam
I’m not a fan of broadcasting things like this at all however WMOption do not appear to have a managing director, manager or supervisor that I can speak to.
Over the course of the past 2 months I have received numerous phone calls from this company explaining that I have shown an interest, this is definitely not the case. During the first phone call I requested they delete my contact details and I was informed I will be removed from their database. Within a week I received another call from them explaining I had shown an interest and how do I wish to proceed. Again I explained that I’m not interested in the slightest and had already requested for them to not call again.
Now ever week since the first call I have been contacted by them, each time the customer service representative doesn’t seem to care about removing my details despite me explaining that it is harassment. During one call I was told by the representative that he will continue to call me over and over just to annoy me. Now I’ve never worked for such a company, but have been in a number of customer service based roles and in any of them would have been sacked immediately for speaking like this to somebody who has requested no call backs several times.
As I have been unable to speak to a manager, I posted a comment on their social media page explaining my situation and that I would simply like to have my details removed from their call centre and any other database due to my complete lack of interest. Despite a member of staff from WMOption explaining that my details again will be removed, I still receive calls on a weekly basis, with each rep being as rude as the previous when I tell them what has happened. Then after going to post another comment to say I’ve been called again, it appears as though I have been stopped from posting anything further, but the calls still keep coming.
First of all, if anybody has any information on who to contact at WMOption to put a stop to the calls and rudeness I receive on a weekly basis, that would be very helpful. And secondly, if anybody else is in the same boat as myself or has experienced the same level of harassment and hostility from this company or any other in the past, advice on how you approached the situation after this stage would be greatly appreciated.
Thank you,
Adam
As a guy who worked at the company for a coulpe of months I can tell you that this company is a 100 percent scam .
The “senior brokers” like I was are just kids in there 20s.
We had a short 5 days cours when they teach us how to scam people out of there money and very little about the financial world.
We got a commission for every cline deposit and our Goel was bascily to “burn” a client meaning making him loose all of his money so he all deposit more .thats how we got paid.
The company claims to be setet in Singapore or the UK but it’s really located in the state of Israel in Shankar st 5 in Israel the company claims to be WM option or WM prime but it’s registerd under the name “Toro media”.
All of the “financial analyst “”senior brokers” are given a stage fake name and are not using there real name on the phone .
I left this job after because I couldn’t take it on my self to ruin people’s life any more
If you where a victim to this company you can go to your bank (even now) and just dispute the transaction you made to the company with this information I wrote down the bank should be able to give you your money back. It’s called a “charge back”
Thanks for sharing Christian.
Hi christian,
My broker karen miller which you said was a fake name asked me to trade 4x and the expiry date would be end of february.
But before that i was trying to withraw the money. Is she trying to make lose my money? What could be the possible scenarios for this. What to do if I lose my money. She was the one who assisted me while trading.
yes she is trying to have you lose your money most of the banks will get your money back you have to call the bank and dispute the transaction
or just send the company an email saying that your know that there real name is toro media and not wm option and that they are located at shankar st 5 herzelia Israel and not in London
if they will not send you your money the bank will.
Hi christian. What or how to tell the bank about the situation. I really dont know what to do when i call them. I already emailed wm option. But still dont have reply.
Just go to the bank and tell them you were a victim to a scam and you will like to disput the transactions to am options you need to go to your bank
Halp me
How to contact you?
cheers
March 3, 2017 at 5:39 pm
Hi Christian, how can I find proof that WM option is in fact toro media? They are currently trying to take £3500 from my bank account, total scammers! It’s heartbreaking that this is happening to good people that haven’t got a lot of money, I have informed my bank already but I need as much information as possible , I would really appreciate your help, thank you
Contact you bank at the fraud department and ask for directions to file a chargeback urgently.
Hi all friends! We are in same boat. I just agreed last two days with usd5000. After reading their withdraw condition,I felt worry as I need to reveal all my details same happened to Helen. I respond their email to withdraw back. Anything happen to your husband account Hellen.
I joined the company ten days ago and my account manager phoned and told me to send rica documents and bank card copy.i then sent everything and he never phoned until i sent a complaint and he phoned me and asked me if i have 7000US dollar and i told him i dont have and he told me that he will trade with me on Monday and today its Thursday and i never heard from him since then.I requested the company to find someone who can assist me in trading,since im new in binary and nothing happened.When i do the live chat and asking about the problem and im told that they phoned me and i tell them there is no record of them on my cellphone.Now im trading by myself and i only want to get the 30US dollars which they will charge for my withdrawal.I dont recommend this company to anyone Ive gone through hell with it.I regret the day their agent called me and convinced me to join.
they’re scam, i can’t get my own money back and they tried to withdraw $1000.00 out of my account without my permission, i was lucky my bank stopped it.
I was trying to sign up for rookie couple of hours ago but I guess my bank can’t use international that need me to approach my bank to open my account so that I can use outside Malaysia.
After trying really and dint go through I decided to find their website to read about this WMopt and to know if it’s really true or just a scam as we all know nowadays scam is everywhere..and I found and read comments and think me twice..anybody could tell me if I still need to sign up or not.thank u
Hi John
Its been a month since I joined WM Option. So far I am not in winning side.
They recently offer me a bonus please suggest me should I accept this bonus or not?
They claiming that if my funds reached up to £3000.00 then I can make any trade and I wont loose my funds. It doesn’t matter my trade goes towaeds loosing side.
Need your help or if anybody else have this kind of experience please let me know.
Many Thanks
Unfortunately I have followed your review on this broker. If you like I could send you all the proven details and find out what for experience I am getting.It was the designed one in order to start with the Snapcash software, after several calls I finally got understood that I will only deposit the minimun required and never more just to try the Snapcash. I realised that Snapcash is not for me because after 2 days and 9 trades I saw the low results and having so bad experience with, I decided to close the account sending a signed letter, wich explains that my expectations were others than the result with the software. So far and after 3 weeks of calls to rhe support and having to answer again and again to the account managers and supervisors, they still have my money, the account is still open and probably if I do not used they will charge me with the costs? Lets see, so far the withdrawall is not showed in the account and the support still answered that needs the accord of the manager, I am wondering if they will keep on trying to get more money from me! The answer is NOT but their behave does not match to your report, am I right?
Sorry to hear that Claudio.
I understand your frustration Claudio as I too went through the same process and finally after persisting for 2 months I finally had my funds returned and my account closed but they still insist on calling me until I had to put a block on their number. I must admit though, even though they were frustrating to deal with I never found them rude or abusive like others I have dealt with under the CYSEC regulations.
Please stay extra clear of Optionbit. They are the worst of the scammers and have actually manipulated people and their accounts to blatantly steal from them, me included. All the best to you.
Hello! how were you able to get your money in two months?
My manager appears to be offline. And doesnt want to reply at all. Who can I contact in order for them to continue processing the withdrawal.
You can go to the bank and disput the transaction
Hi christian. I just read this just now. Huhu i tried already traded with my broker, till the end of the month. What do you think will happen because she ask me to trade 4 times then until less money left. Im waiting till 28 of to see what happens. :(
Did you get your money back, it’s been 2 weeks for me and I think I’ve been scammed, please let me know if you got your money back
My husband signed up for a Rookie account and then decided to opt out. He has had to provide copies of credit cards, drivers license and a utility bill. They stresses that the bill had to be less than 6 months old, ensure credit cards are signed and resolution is good. After sending a copy of a bill they requested it be resent ensuring edges were visible and the resolution was good. They said these were international law requirements but I’m worried about identity theft especially since they needed edges and good resolution. What do you think?
Hello helen.
Sorry to hear your experience. I’m new to this wmoptions and ive just done my requirements and i didnt have good resolution on them…they then called me and told me we have recieved you documents and they have been accepted. Still unsure of whether to continue with them after reading all these reviews….
Thanks
Hi Vanessa,
I have also just signed up and waiting for a call from someone with the same detail requirements.
So how has it gone for you thus far??