There are four trading accounts in the offerings of PlusOption. It offers a payout of up to 81% and bonuses of up to 100%. It also features a self-developed trading platform SpotOption. It offers over 150 financial assets. It also provides trading training to its clients. The broker is based in Romania and is unregulated. In this PlusOption review, we will throw light on all the aspects of this broker to give you exclusive information about it. Please stay with us.
Micro, Silver, Gold, and Diamond-like four trading account types are provided that need an initial investment of $250, $2500, $10000, and $50000 respectively. The broker was launched in 2015 and owned by ACV Operations SRL an organisation situated in Romania. However, the broker and its owner are not regulated by any of the financial regulators of the world. The unregulated brokers are scam brokers and traders must be cautious while doing business with them. The trading assets include cryptocurrencies, foreign exchange pairs, stocks, indices, and commodities. The trading can be performed on a time basis. Like a short time and long time. The expiry times are 60 sec, 90 sec, 120 sec, 180 sec, 300 sec, 1 hr, 2 hr, 4 hr, 8 hr and 2 to 7 days. The minimum first investment at PlusOption is $250. That is quite high in comparison with legitimate brokers. The broker also has capped its minimum bet size at $25. It is high and not acceptable.
The trading platform SpotOption that is the self-developed trading platform is provided by this broker. It is a good trading platform for binary trading. The broker is also involved in unethical trading practises of providing trading bonuses. These trading bonuses need an extra high trading volume to be eligible for their withdrawals. These minimum high trading volumes could not be achieved easily. Many regulated markets have already banned these trading bonuses to save traders hard earned investments.
Is PlusOption scam or legit?
The broker is Romanian and must be regulated by any of the European Union based financial watchdog. However, it is not regulated. It means it can freeze traders accounts and deny withdrawals at any time. The initial investment is high and MetaTrader is not supported. In the name of trading training, it offers useless information and causes a waste of time. Such brokers must not be trusted. Therefore, we call PlusOption a potential Australian trading scam.