Safe24option

4 stars based on 64 reviews

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For a list of alternative brokers, and full comparison reviews, visit our brokers page. How safe is Safe24Option. 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. This is yet another Spot Option white label. 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. 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. 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.

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.

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. 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. 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? This broker is not recommended. This broker is either not regulated or generates a large number of complaints.

Alternatively, these are our Top 3 brokers based on Ratings: