Option Xpress might sound like a familiar name to many of the people involved with online trading because there are a few similar named brands that use the slight variations of the root keyword and they are all targeting the English speaking audience. In today’s article the platform we are going to expose is a confirmed scam and that fact that they are looting the public in a notorious fashion is undeniable.
They do feature few unique traits, but in the end the exaggerated profit claims they peddle is a dead giveaway and along with that their licenses are all fake as well. Binary options and cryptocurrency trading is frowned by retail investors because of the risk they carry and while the majority of the people do love the volatility they possess, it is hard to take advantage of them in the long run.
Moreover, the number of altcoins hitting the markets on a regular basis is increasing and as some of them are too illiquid, people are getting stuck with positions they are not pleased with. So, do not let the hot aspects of the sector blind you and unless you have a clear approach in mind, do not gamble with your money. Remember, the market is a machine that rewards a certain skill set and it will certainly punish if you are not well prepared.
Licenses and Support Information
This firm is said to be located in Florida. Note that as they have not provided any kind of physical location, it is impossible to verify their claim and that suspicious behaviour is without a doubt a red flag in our books. On their homepage, they boast about their regulatory status and claim to be under the radar of the CFTC.
All the firms currently monitored by the CFTC are reputable for the most part and they all have to hold on to certain standards if they want to continue serving the United States’s citizens. Moreover, the firms under the watch of the authority mentioned above will always feature a fair environment and their main goal is to enable the clients to access the markets in the most cost effective manner.
This platform is not listed or recognised by CFTC and as such, everything about them is not only questionable, but also can be categorised as criminal activity. Bluffing about their nature and using the names of big authorities are something only a fraudulent platform would do and it clearly proves that the crooks are one step ahead of the crowd.
If you notice the contact details provided by them closely, it won’t take long to find the missing pieces in the equation. Their main priority is to protect their anonymity which is why they are mainly using the emails to communicate? If you try to contact them, then know that getting a reply would be a herculean task and unless you are depositing with them, do not expect any response from their side. As you can already tell, the things are highly unprofessional with them and it tells us a lot about their character.
- Address – Not Mentioned
- Phone – +1 (970) 579-0139
- Email – support@Option-xpress.com
Option Xpress Investment Plans
There are 4 types of investment plans available on their platform. All of the schemes showcase incredible returns, but they have a lot of hidden loopholes in them. For example, the maturity period of any plan is not revealed in advance and we did not get any response from the support team about this specific query either. Moving on to the other aspects of the investment plans, there is no information about the kind of charting platform provided by them.
They state that they process the withdrawals instantly. However, as there is no user feedback about them yet, it is impossible to believe their words blindly. The profits promised by them is dependent upon the initial seed amount, but in general it ranges between 100% to 200%. To make 200% even on an annual basis is something that no investment bank can do consistently and clearly anyone that says otherwise does not have any touch with the reality of the situation.
Moreover, we could not find any supporting evidence either. Given every single thing about them, no rational person would believe the numbers they portray and you shouldn’t either. Making money via trading any asset requires a certain level of skill and understanding.
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In other words, it is all about the statistical edge you have over the participants. This firm does not talk about the mathematical model it employs or any of the metrics or indicators it uses. So, on what basis can you trust them? Isn’t it clear that they are just transferring money from gullible investors to their bank accounts using the name of the financial sector?
How do they generate Cash flow?
No one in the customer’s side has the faintest idea about their real cash flow source. It might be from the commissions or by taking the opposite side of the binary options positions. However, the thing you need to notice is the amount of conflict of interest present in both the scenarios. They clearly cannot sustain for long if their clients make money and that is a bad business model.
Not to mention, their firm records and financial statements are not revealed or audited by any third parties. Moving on to the investment schemes, it is impossible to yield returns like they advertise and that is a fact that no one can argue against. Clearly, they must be using the ponzi structure to finance the earlier clients and it is just a matter of time before the whole thing comes down crashing.
People that entered into the scheme in the initial stages may partially receive some money, but more than 70% of the clients will be forced to walk away with nothing. Due to the reasons mentioned above, it is safe for everyone to stay away from them. After all, a shortcut to wealth is something that has a very short longevity in the real world, right?
Binary options, Leverage and Spreads
On their platform, they clearly mention that they offer high risk binary options though they are based in Florida. Technically speaking, for any firm to offer high risk trading instruments to the public, they need to have proper licenses or else it is considered as criminal activity. Nadex is the best binary options exchange in the United States and there aren’t any other single platforms that can match it in the region.
If you come across any entity that claims to offer the same range of instruments and they aren’t regulated, then do not bother to look into it because sooner or later it will turn into nothing more than a hustle. The explanation about other products on this website is also not clear and the key details for some reason are missing. For example, the leverage offered by them is unknown and the list of available pairs is also missing.
On top of all the irregularities even the spreads are kept mysterious as well. Leverage and spreads are important to determine before placing any kind of market orders. Anyone that thinks these ratios do not matter is guaranteed to have a short longevity period in the market. Trading is a complicated yet simple journey and it has a lot of variables. While some may be more important than others, it is best to know them all before venturing into it.
Option Xpress Testimonials
We found 4 testimonials on this website wherein all of the comments handpicked by them were positive. Apparently, their entire user base is happy with the platform and all of the clients are in profits. Social proof is an important element for every online based business. However, things are always as simple as they look and the scammers will always try to find some loopholes along the way.
Nowadays, every fake platform out there is creating false narratives in the form of manufactured comments and some of them even hire offshore entities to do the job for them. If you are investing with any platform that has been around for less than 12 months, the risk factor is way too high. To avoid falling for the online hustle, we suggest you to always start out with the minimum amount possible and then scale up if you actually see any meaningful returns.
As far as the comments featured on this website goes, know that it is not from real users and it is nothing more than manipulative content at it’s best. It does not matter which search engine you use, there just isn’t an actual forum or social media platform section dedicated for this firm and it clearly implies that they have zero reputation. Lack of data and social proof is the ultimate sign to prove that this platform is not worthy of your time and as such, do not waste your time or money on them.
Is Option Xpress a Confirmed Scam?
Obviously, yes. Option Xpress is a fraudulent platform that is trying to pose like an institutional authority. Their narratives might encourage newbies and convince them to invest via their services. However, the end consumers will never make money with them and on top of the losses, they will be compromising their confidential information as well. All the offshore entities are known to sell client’s data and this one is highly likely to do the same.
They do not offer demo accounts of free trials. There is no such thing as evidence offered by them and ultimately, they do not even have the basic decency to reply to the queries. Lastly, the creators are without any doubts conducting illegal activities and if caught, they will spend a lot of years behind bars.
Though the chances of the crooks getting caught are slim, do not let it stop you from reporting to the relevant authorities. Also, if you have lost money to them, then get in touch with us for a free consultation and we will show you the best legal options applicable to your case.
Verdict
Option Xpress is a scam broker and a ponzi type fraud that is taking money from the public using imaginary stories around the actual markets. They have no connection with any of the liquidity providers. The information available isn’t enough to justify any action and the amount of risk present is way too high. Their domain age is also not working in their favor and given their other traits, it goes without saying that they are not the ones to get tangled with.
So, do not give into any of their manipulative strategies or lucrative investment claims and for your own safety, deal with licensed exchanges only. The number of choices available are many and even though they charge a bit extra in terms of fees or other associated costs, the amount spent will always be worth it.
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