72option is a binary options trading broker that provides the investors access to trade the underlying assets on their platform. The brainchild of Epic Ventures Ltd., 72Option claims its base of operations to be in Sofia, Bulgaria. However, the contact number provided by them traces back to South Africa which proves to be successful in raising doubts on the ground reality of their office itself. Some time behind the computer and researching about the whereabouts and credibility of this broker, we have found out that the address provided by 72option is a fake one and their real office is set in Israel. Upon, researching a bit, we have found out that as much as the company claims itself to be one of the best platforms for trading, it does not hold a regulatory license anywhere. Not acquiring a license is not only illegal but also a big red flag for the customers to not resort to this broker as it may result in their loss. Read the full 720Options review here.
Due to the abundance of binary options platforms available on the internet in the current scenario, 72Option brings up a variety of options under the types of binary trading such as high/low, long term, pairs,5 minute, 60 seconds options, ladder, limits, turbo, one-touch, etc.
The site claims to be of an easy user interface and the account is compatible with only three currencies, namely, GBP, EUR, and USD. The smallest trade option available is that of the 60 seconds and a minimum of $5 is required to initiate it. You may get excited after seeing their 100% bonus but this is only a strategy that they have cleverly planned in order to trap as many customers as they can. Upon reading the terms and conditions for an account holder, we realized that in order to get the 100% bonus we should trade at least 25 times. $250 is the requirement for a new account holder and the minimum amount needed to be invested for the long-term trading option is $20. We have also observed many customers facing a problem in withdrawing their money once the said bonus is sent to their accounts.
Upon opening an account with 72Option, they will spam you with calls under forged names and establish them as one of the experi3enced and certified brokers with the company. What follows next is the constant calls and pressurizing to invest more and more money under the excuse of the best time and opportunity. They also keep extreme caution in not disclosing the terms and conditions of risk-free trading in order to keep the users who are new to trade hooked.
72option website claims easy withdrawals at the user’s convenience. However, this claim of theirs has been proved wrong time and after. When a user files for withdrawal, they either cancel the request under the name of some technical glitches that they are facing or claim that they have already processed the transaction and it has reached the user’s bank which is not true.
Is 72Option scam or legit?
The broker in this case is an unregulated company and has cleverly constructed a web of beautiful lies and mouth-watering offers to trap the customers. We do not recommend 72Option as it is a potential trading scam in the UK, New Zealand, and Australia