Simplexoption Review Is Simplexoption.com a scam

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Simplexoption Review: Is Simplexoption.com a scam?

Simplexoption.com Review: this is the website of a broker that offers both forex trading and binary options trading. Is Simplexoption legit or scam? Read this revealing review to find out important details about this Forex trading company.

The most vital part of our reviews is the uncovering of if a company or Forex broker is properly licensed or not. To do this, we first establish the location or region where it claims to be based. Then we check with the commission or authority regulating trade there whether it is listed among regulated companies or not.

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Simplexoption discloses that it is based in New York. This is in the United States where trading Forex is under the watch of the National Futures Association (NFA). However, the broker claims to be regulated by the Cyprus Securities and Exchange Commission (CySEC). This is misinformation that is done in a bid to mislead traders.

This is a big turn-off because trading with a Forex broker that is unlicensed poses many dangers to traders’ funds. Misappropriated funds may not be recoverable by the government as well. Unlicensed brokerages are not under any rules of traders and this puts traders in more risk than they will be in if they had chosen properly licensed ones.

Advantages of Simplexoption

The broker avoids any lag in time to get services across to clients in real-time and it is run by a team of professionals. Services are optimized and the platform allows trading from anywhere. Binary options trading is allowed along with Forex trading and financial consultancy. Traders get to make a profit when they invest in the broker’s plans.

It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

Simplexoption Trading Option

Simplexoption uses a web-based trading platform. We advise readers and traders to always look out for the MT4 or MT5 platforms. The MetaTrader platforms are commonly used because they allow the use of trading robots.

Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating systems. All can be used on desktops, Linus, Windows, iOS, and Android.

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Tools that come with these trading platforms are also found to be useful for traders. It has proven to be user-friendly as well and helps traders in analyzing the market easily.

Trading instruments offered to traders are only CFDs on cryptocurrencies. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

The maximum leverage offered to clients is not mentioned and while some may seem generous, they are not advised. Spreads are also not included on the page information.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on Simplexoption

There is no mention of the means of making deposits and withdrawals with this broker. We find this missing information discouraging because standard and legit brokers make deposits and withdrawals available via Visa, MasterCard, and Wire Transfer. Many offer e-wallets like Skrill, Neteller, UnionPay, FasaPay, and so on.

A minimum deposit of $500 is required by the broker and this is higher than the obtainable average of $100 to $250 that is common among legit brokers. We find no information on what the withdrawal charges are.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Is Simplexoption Licensed?

No. Simplexoption is not properly licensed. It false claims to be licensed by the Cyprus Securities and Exchange Commission (CySEC).

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

Support

To get in touch with the broker or a representative of the customer care, interested clients should call +441163260254 or email at [email protected]

Conclusion

Simplexoption is not properly licensed and thus we do not rate it highly. The trading conditions are not specified and trading platforms used in not encouraging. The minimum deposit requirement is quite high. Trading assets on the demo account are also different from what the broker claims on the page. If you have anything to say about this broker, do so in the comment section.

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Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

SimplexOption Review

In this review, we will describe why SimplexOption is a scam that you should avoid at all cost !

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Is SimplexOption Legit?

SimplexOption is an unregulated broker. Problem with unregulated brokers is that they are not reliable and abuse the regulations. Make sure to stay away from this broker as they are anonymous and that they can disappear any time without notice.

To make sure you are dealing with a regulated and known broker, you should be able to find easily who is the CEO of this brokerage firm, who is running it etc. Lack of information is a big red flag since you don’t know who will be dealing with YOUR MONEY. This is the reason why SimplexOption is a dangerous broker to deal with.

Are Funds Safe with SimplexOption ?

With such lack of information and SimplexOption being unregulated, funds are not safe. Security of funds is a huge problem with unregulated brokers. A red flag that we noticed is SimplexOption is withholding vital information to users.

SimplexOption could go bankrupt from one day to another since there are no banking information about this broker.

High Success Rate – Transparency & Integrity –

SimplexOption Review: our Conclusion!

SimplexOption is an unregulated broker to avoid at all cost. If you have been scammed, check out our ChargeBack process here or get a Free Consultation by a team of expert by clicking here.

SimplexOption – Is It Safe or a Scam?

Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.

SimplexOption – DO NOT TRADE WITH THIS PROVIDER

SimplexOption introduces itself as a cryptocurrency and binary options broker allegedly regulated by the Cyprus Securities and Exchange Commission. Its core goal is to offer a plethora of trading instruments in all major cryptocurrencies such as Ethereum, Bitcoin, Litecoin, Stellar, Ripple, and so much more. It even offers to allow traders to create up to three account types.

All these considered SimplexOption seems to be like a well-branded and trustworthy platform where traders can make a good and honest profit.

Try these regulated brokers if you want to start trading cryptocurrencies

Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.

Founded: N/A

Regulations: Not Regulated

Languages: English

Deposit Methods: Bitcoin, Skrill, Perfect Money, Neteller, MoneyGram, Western Union,and Wire Transfer

Minimum Deposit: $1

Free Demo Account: No

Number of Assets: N/A

Types of Assets: Bitcoin, Litecoin, Ethereum,. Bitcoin Cash, TRON, Ripple, Stellar and Tether

Trading Accounts and Conditions

SimplexOption introduces itself as a cryptocurrency and binary options broker allegedly regulated by the Cyprus Securities and Exchange Commission. Its core goal is to offer a plethora of trading instruments in all major cryptocurrencies such as Ethereum, Bitcoin, Litecoin, Stellar, Ripple, and so much more. It even offers to allow traders to create up to three account types.

All these considered SimplexOption seems to be like a well-branded and trustworthy platform where traders can make a good and honest profit.

As usual, we’ve taken it upon ourselves to investigate further—and our research has brought out the truth: SimplexOption is a scam under all these seemingly legitimate laurels that it has planted around itself.

So, before you explore more about trading with SimplexOption, make sure to read the review that we have prepared for you here.

SimplexOption – Advantages

We make sure that our reviews remain unbiased and fair at all times. However, we’ve already exhausted our research, and there hasn’t been a single advantage that has surfaced yet. As far as we can tell, doing business with SimplexOption is quite risky.

SimplexOption – Disadvantages

We have noted a couple of disadvantages that might dissuade traders from using this crypto-route.

Deceptive in disclosing regulatory status

As in every investigation, we set off to find out if SimplexOption has secured the very first requirement of a good trading partner: getting its licensure and adhere to regulations.

At the get-go, everything seems to check out. SimplexOption looks like it has done prior preparations before its launch: registering to be regulated by the Financial Conduct Authority (FCA), disclosing that it is based in London, and making it known that its broker has a license that’s been granted by the Cyprus Securities and Exchange Commission (CySEC).

So far so good, except that it’s a little bit unusual for the broker to be regulated by a board that operates elsewhere. So we did further digging and we found out that CySEC (duly managed by the European Union states) does not have SimplexOption registered in its list. When we checked with the FCA in the UK, the same results came through: still, no SimplexOption registered.

And so our two-step verification process has uncovered SimplexOption to be a sharp practice. Of course, it goes without saying that traders should steer clear off fraudulent brokers such as this. Without a board to regulate their actions, any kind of misappropriation in the future will be unrecoverable for everyone involved.

So, is SimplexOption legitimate or a scam? To this, we say that it definitely is, despite its attempts to throw us off its scent by listing false licenses to its name.

Plus500

Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.

AvaTrade

The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.

Unclear trading conditions

The trading conditions and their services are quite unclear to potential clients as well. They are advertised as traders in binary and forex options, but upon closer inspection, they seem to only work with cryptocurrency CFDs.

Unimpressive trading platform

Unlike other platforms that still turned out to be scams, SimplexOption does not even try to impress traders with a well-designed website. Sure, the interface is quite simple and straightforward but there are plenty of missing pieces that would establish it as a legitimate trading site.

We don’t always say that you should always choose a platform just by face-value, but this time we are. Your best bet is to use the industry-leading MetaTrader 4 or 5 as gauge at the very least—their interface is easy to follow and professional. Not to mention, the site is compatible with just about any device and operating system too.

High initial payment

Lastly, let’s not forget the unreasonably high initial payment that SimplexOption asks from their clients. At $500, this is twice the standard price that most regulated trading platforms ask.

While we’re on the topic of listing shady details about SimplexOption, let’s discuss its overly high admittance or starting fee. Opening a trade account should be at a standard $250 USD, give or take a little more. However, they should definitely not be double of its amount–this is a red flag and traders should learn to distinguish a too-good-to-be-true deal that often comes with becoming a member of platforms such as SimplexOption.

Limited trading portfolio

When you create an account with SimplexOption, your portfolio will simply revolve around a limited number of crypto pairs namely Bitcoin, Litecoin, Ethereum,. Bitcoin Cash, TRON, Ripple, Stellar, and Tether. Other CFD brokers offer more diversified options and even include forex, stocks, and others in their portfolio.

Conclusion

So, is SimplexOption a scam? To put it simply: all signs point to yes, SimplexOption is indeed a scam.

From what we have gathered, SimplexOption is not registered with theFinancial Conduct Authority (FCA) as it publicizes to be. Nor are their brokers regulated by the licensure board of Cyprus Securities and Exchange Commission (CySEC).

Privy to most forex trading scams, the regulatory bodies in the industry often warn us to only deal with brokers that can prove their legitimacy via providing licensure proof. Not only that, but you should also double-check with them if the license is indeed legitimate. The good thing about this is that Forex regulatory boards are forthcoming with the information that they provide regarding these scammers online.

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