How Safe Is Safe24Option.com

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How Safe Is Safe24Option.com?

How safe is Safe24Option.com? I’m not to sure, from what I can tell there are some serious red flags you should be aware of. Of course I’m also sure that as an astute binary options trader you wouldn’t fall for some wannabe broker trying to piggy back off of a good broker’s name. If you don’t know what I’m talking about there is a well known and reputable broker called 24Options.com that has no connection to the broker in question here today. I first became aware of Safe24Options when researching a potential signal service provider scam and was shocked to find out that it was in cahoots with the SSP.

Safe24Options Binary Options Platform

This is yet another Spot Option white label. If you don’t know what Spot Option is it is a binary options platform provider that is used by more than 50% of the current on line binary options market. It is one of the best platforms out there, I like it. The thing is though, using a good platform does not mean the broker is any good. The trade screen is super easy to use and displays three assets at one time. Traders can choose between a variety of options types including call/put, OptionBuilder, One Touch, 60 Seconds and the Open Platform.

The Call/put is the standard in binary trading and is known as up/down or high/low on other platforms. The OptionBuilder is a SpotOption feature that allows traders to customize the payout and risk levels for each option. One touch options require only one close above the target level and 60 second options are binary options for ultra short term trading. The Open Platform is a larger chart screen where traders can get a more in depth look at assets they are trading. It is possible to trade directly from the Open Platform.

The asset index is extensive but not as good as most of the top brokers. There are only about 3 dozen stocks, a dozen or so currency pairs, most of the global stock indices and 5 commodities listed. Deposits are super easy, of course, and can be made by credit card, wire transfer and a handful of online wallets. Withdrawals may be another matter. According to the brokers terms of use once documentation is processed it will take up to 10 business days (two weeks) for a withdrawal to process. According to the complaints I have been reading it may take a lot longer and you may not even get your money back.

The bonus is only one of the scams I think this broker is trying to pull off. At first glance the bonus may seem like it’s on the up and up but I wouldn’t count on it. Bonuses are offered on a client by client basis and come with a trading minimum of 30 times each dollar of bonus. There is nothing mentioned of the original deposit so this is a good thing when compared to other bonus offers. The scammy part is that you cannot make any withdrawal once you have accepted a bonus, period. Usually you can withdraw your deposit and forfeit the bonus, this broker specifically says you can not forfeit the bonus or make a withdrawal before the minimum is met.

The other scam I uncovered was the signal service provider Binaryoptions-live-signals.com. This is a supposedly free SSP that provides signals on forex binary options for 60 second trading. The service provides signals during preset global trading sessions that are centered on the openings of the international trading markets. The catch is that the only free part of the signal is the 3 day free trail. You can use any broker you want for the trial but in order to get the full service you have to sign up and deposit with the trusted broker which just happens to be Safe24Options.com. Not only that, to truly get everything the SSP has to offer you must deposit at least $20,000. When I first discovered this SSP I thought it was merely an affiliate scam, I was more than shocked to find out that it was actually being run by the broker itself. I learned this when reading the complaints about withdrawals, the broker’s representatives defended their withdrawal procedures and did not deny their ownership of the signal service.

Safe24Optoins.com Is Not Very Safe

This broker is not very safe. Although based on a well respected platform it does not inspire much confidence in me. As a white label broker it is nothing more than a copy of a much better broker and a pale one at that. Adding to that the potential scams being perpetrated by it only makes me want to say farther away. The use of the SSP to lure innocent traders to blow their money on 60 second options makes me suspicious of their motivations. If the signals are good, and really meant to enhance the lives and experiences of the traders, then why must they hide it behind the screen of another web site?

Safe24option

Safe24Option are no longer trading. For a list of alternative brokers, and full comparison reviews, visit our brokers page.

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How safe is Safe24Option.com? I’m not to sure, from what I can tell there are some serious red flags you should be aware of. Of course I’m also sure that as an astute binary options trader you wouldn’t fall for some wannabe broker trying to piggy back off of a good broker’s name. If you don’t know what I’m talking about there is a well known and reputable broker called 24Options.com that has no connection to the broker in question here today. I first became aware of Safe24Options when researching a potential signal service provider scam and was shocked to find out that it was in cahoots with the SSP.

Safe24Options Binary Options Platform

This is yet another Spot Option white label. If you don’t know what Spot Option is it is a binary options platform provider that is used by more than 50% of the current on line binary options market. It is one of the best platforms out there, I like it. The thing is though, using a good platform does not mean the broker is any good. The trade screen is super easy to use and displays three assets at one time. Traders can choose between a variety of options types including call/put, OptionBuilder, One Touch, 60 Seconds and the Open Platform.

The Call/put is the standard in binary trading and is known as up/down or high/low on other platforms. The OptionBuilder is a SpotOption feature that allows traders to customize the payout and risk levels for each option. One touch options require only one close above the target level and 60 second options are binary options for ultra short term trading. The Open Platform is a larger chart screen where traders can get a more in depth look at assets they are trading. It is possible to trade directly from the Open Platform.

The asset index is extensive but not as good as most of the top brokers. There are only about 3 dozen stocks, a dozen or so currency pairs, most of the global stock indices and 5 commodities listed. Deposits are super easy, of course, and can be made by credit card, wire transfer and a handful of online wallets. Withdrawals may be another matter. According to the brokers terms of use once documentation is processed it will take up to 10 business days (two weeks) for a withdrawal to process. According to the complaints I have been reading it may take a lot longer and you may not even get your money back.

The bonus is only one of the scams I think this broker is trying to pull off. At first glance the bonus may seem like it’s on the up and up but I wouldn’t count on it. Bonuses are offered on a client by client basis and come with a trading minimum of 30 times each dollar of bonus. There is nothing mentioned of the original deposit so this is a good thing when compared to other bonus offers. The scammy part is that you cannot make any withdrawal once you have accepted a bonus, period. Usually you can withdraw your deposit and forfeit the bonus, this broker specifically says you can not forfeit the bonus or make a withdrawal before the minimum is met.

The other scam I uncovered was the signal service provider Binaryoptions-live-signals.com. This is a supposedly free SSP that provides signals on forex binary options for 60 second trading. The service provides signals during preset global trading sessions that are centered on the openings of the international trading markets. The catch is that the only free part of the signal is the 3 day free trail. You can use any broker you want for the trial but in order to get the full service you have to sign up and deposit with the trusted broker which just happens to be Safe24Options.com. Not only that, to truly get everything the SSP has to offer you must deposit at least $20,000. When I first discovered this SSP I thought it was merely an affiliate scam, I was more than shocked to find out that it was actually being run by the broker itself. I learned this when reading the complaints about withdrawals, the broker’s representatives defended their withdrawal procedures and did not deny their ownership of the signal service.

Safe24Optoins.com Is Not Very Safe

This broker is not very safe. Although based on a well respected platform it does not inspire much confidence in me. As a white label broker it is nothing more than a copy of a much better broker and a pale one at that. Adding to that the potential scams being perpetrated by it only makes me want to say farther away. The use of the SSP to lure innocent traders to blow their money on 60 second options makes me suspicious of their motivations. If the signals are good, and really meant to enhance the lives and experiences of the traders, then why must they hide it behind the screen of another web site?

Safe24Options

Broker Name: Safe24Options
Platform: SpotOption
Founded: 2020
Bonus: 75
Return/Refund: 68-75%/0-10%
No. Of Assets: 57
Regulated: No
Demo Account: No
Minimum Deposit: 200
US Traders: Accepted

Safe24Options Review

Warning – Safe24Options is No Longer Available.

Editor’s Note – Why does Safe24Options Suck in 50 Words?

“We focus on who really counts. You.” The serial killer of binary options slogans strikes again and the lack of imagination has found a home with Safe24Options. I have nothing against the slogan itself but the fact that it’s being used by so many brokers made it become a monument of their “We don’t care about you traders” attitude. If they don’t bother to find a personalized slogan, why would I think they care about my money?

Why Safe24Options doesn’t Suck?

This broker uses the SpotOption platform and that is one of the few advantages we can find. The platform is user friendly, has fast execution and all commonly used features are laid out in an intuitive manner. Other than that, it’s hard to find reasons to choose this broker over another.

Safe24Options Full Review – Is it Safe to Say It’s Safe?

Reviewing this broker feels like déjà-vu all over again. Except some colors, there’s not much difference between Safe24Options and the majority of brokers who use the SpotOption platform. The slogan is the same, the website layout and even the Demo video are very similar. A view of the platform is available in the middle of the main page and on the right side they show live news feed and a brief explanation of the easy steps towards placing a binary trade. Nothing fancy or spectacular.

The website is co-operated by Hortense Holdings Limited, the same company which co-operates 777Binary.com and also owns/operates HotOptions.com so it’s good to know who we are dealing with. But this website looks like it has been built in a hurry, with no particular interest for details or functionality. If you visit the Frequently Asked Questions section you will see what I mean: for example the question “What is the time shown on this site?” returns the mind boggling answer – “1,500 on the currency of choice in your account”… All I can say is that if you want to have some fun, you should visit their FAQ, but don’t expect to get too many useful answers. Moving on to the education part of the website, I can say I found nothing really helpful other than the regular empty talk about how easy Binary Options are and how you can profit with limited risk. They do offer Daily market analysis but the article I found was two days old so not very helpful to say the least.

Taking a step back and looking at Safe24Options, I couldn’t find anything meaningful on their website or any reason for me to open an account. Given the fact that we can choose from so many Binary Options brokers, I don’t see what the incentive is to join this particular one.

Is Safe24Options a Scam?

Trust is a very important factor when trusting a broker or anyone else with your money and trust has to be earned. But so far Safe24Options did nothing to show me they are professionals and trustworthy: the Contact Us section only provides some phone numbers, no address and all I know so far is they are co-operated by Hortense Holdings Limited. As mentioned above, this company is also involved with other binary brokers and none of those would be my first choice when opening an account… not even my 99 th choice, actually. Bottom line is: I don’t trust this binary options service provider because I have no reason to, but there is no hard evidence of a Scam except a multitude of alarming complaints.

Safe24Options Complaints

Above I said there is no hard, clear evidence of a scam… but the Internet is full of complaints. People say they were scammed for $15K, $20K and even hundreds of thousands of dollars. To be honest, I can’t imagine how naïve you have to be to keep hundreds of thousands in an account with a shady broker, but people complain on Scambook.com and ForexPeaceArmy.com about being scammed by Safe24Options.com. Indeed, there is no hard evidence of scam –like a finalized lawsuit or a judge’s decision – but are you willing to risk your money when so many people say they got scammed?

Safe24Options Bonus

According to their Live Chat operator, for a deposit of $1,000 you will receive a 50% bonus and for a deposit of $5,000 you will receive 75%. However, this is not found anywhere in their Terms & Conditions so it could be changed when and as they wish. For every dollar you received as a bonus you will have to reach a turnover of 30 dollars and you will not be able to withdraw any money until you reach that volume.

Safe24Options Withdrawal

A withdrawal request is processed usually within 3 business days and it takes additional 3 to 5 business days for the money to reach your account. Credit Card withdrawals are free of charge and wire transfers come with a $25 fee. Withdrawals can be made only after fulfilling the Bonus requirements.

Safe24Options Extras

As much as I try, I cannot find anything that could be considered an extra. Everything is plain, boring and seen before.

Safe24Options Ratings

User Friendly 15/20

SpotOption’s platform is easy to use and provides all the functionality needed for trading Binary Options, but the website is not well structured and the FAQ section is confusing. Also, the available languages are just 2: English and Spanish.

Number of assets and expiry times 15/20

Their Asset Index contains 16 stocks, 13 Currency pairs, 6 Commodities and 22 Indices and the expiry times range from 60 seconds to 30 minutes, hourly and longer like end of month. One Touch feature is available as well.

Commissions, Support and Effective return 15/20

There are no fees to open an account and Credit Card withdrawals are free of charge but a wire transfer comes with an additional $25 fee. Their Live Chat is not very polite and they answer almost any question with another question. The effective return can be as high as 75% and refund for Out of the Money trades can go as high as 10%.

Deposit, Payment and Bonus 13/20

Deposits can be made via Credit/Debit Cards, wire transfer and CashU, with the minimum deposit being $200. For withdrawals the client will use the same method he/she used to deposit so if you deposit with a Credit Card, you will have to withdraw to the same card. All bonus information was received from their Live Chat representatives, as mentioned above in the Bonus section of this review. The trading volume needed to withdraw is too big (30 times the bonus) and all your investments are tied to the platform until you reach that volume.

Website Extras 5/20

As mentioned before, nothing can be considered extra, hence the zero rating.

Safe24options Overall Ratings: 63/100

Best Binary Options Brokers 2020:
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    Binarium

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    Binomo

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