Optionante is an unregulated binary options broker who gained a lot of traction on the web in the early 2018. They feature a web based trading platform and offer payouts as high as 90% on select assets.
There are CFD and other leveraged instruments available on this broker, but before you proceed with them make sure to check their spreads as it can make or break your account. Binary options was one of the most loved products in the trading industry in the early 2015. However, a lot of retail clients were scammed by offshore brokers which tainted the whole sector and now, it is the kind of trading which is banned in most countries.
Ofcourse, there are a few regulated providers of binary options, but they do not give high payouts and usually have a long time horizon for the trades. As traders, it is our duty to make sure we do everything in our power to ensure the safety of our funds and as far as this broker is considered, continue reading the article to understand more about their business model.
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Legal Status and Support Team
As many people lost a big chunk of their money to scammers pretending to be binary options brokers, the law enforcement agencies took drastic action on the sector. As a result, unless an individual is considered as a sophisticated investor who has put up significant upfront capital, brokers are not supposed to give him or her access to high risk investment products.
Though strict guidelines were given, only the reputable and established brokers follow the rules and unfortunately, a vast majority of offshore brokers just don’t care about them. Optionante is not under the radar of any regulatory authority which means as far as security of the funds are considered, they are not reliable or accountable in any way.
While it is true that they showcase a registration number on their platform, do not mistake it as a sign of credibility. In case of a market meltdown or in the event that the broker goes bankrupt, all of the clients will be left empty handed which without doubts is an unacceptable treatment.
Moving on to the customer care aspect, the communication between the clients is done via email and phone. Sadly, their business hours are not mentioned and due to the lack of feedback and data, we can’t comment on anything about them.
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Optionante Trading Platform and Leverage
Optionante offers its clients a web based interface which is extremely light and doesn’t need any kind of downloads to get started. Basically, anyone with an active internet connection can get started with them within a few minutes. If you are a newbie trader, then you are going to like the functionalities present.
On the flip side, if you are an experienced trader, then chances are you will not be able to import all your custom indicators and templates which will be frustrating to say the least. They claim to offer leveraged instruments such as forex and CFDs. However, we didn’t find much information about it and given the lack of transparency and data, we couldn’t justify opening an account with them.
So, for any reason if you want to use this broker, then make sure you understand the leverage ratios before you pull the trigger. Moving on to charting, they seem to have all the basic tools present. Nonetheless, compared to other standard solutions like Ctrader and MetaTrader, the default interface does not offer a lot of customization.
Optionante has been around for nearly 2 years at the time of writing this review. If they did establish a loyal following, there should have been a trial of client feedback. Oddly enough, we couldn’t find a single testimonial about them. Clearly, the lack of data is concerning and it means way less people than anticipated are actually using the brokerage platform.
If you google “Optionante”, then most probably you are going to see some exaggerated reviews along with their social service accomplishments. In the end, we wouldn’t be inclined towards giving them the benefit of the doubt regardless of what they say.
Domain and Website Data
To give our readers the most detailed perspective, we did a thorough website inspection and according to the data provided by whois and alexa services, there are a few contradictions. For starters, the domain age of this website is only less than 50 days and their web popularity is very low compared to most brokers.
Using their website statistics, we are sure that they haven’t conducted any kind of paid marketing campaigns and the content on their platform is also scarce. Moreover, the details of the registrants are kept confidential and the amount of uncertainty and mysteriousness surrounding the firm is very disturbing to say the least.
Deposit and Withdrawals
The minimum deposit amount to get started with this broker is $10 and the minimum withdrawal amount is $2. Optionante supports Skrill, Neteller, Bitcoin, wire transfers and credit cards. However, keep in mind that clients should deposit using cards or e-wallets which are linked to their name only or else it is going to be considered as void. Depending on the payment method, there might be fees associated with withdrawals.
So, if you want to know the exact percentages, then you need to contact the support team to get the information. Processing time for withdrawals is said to be around 3 days and to apply for it, clients should verify their profile by submitting government issued documents.
Optionante Review Conclusion
At the end of the day, the question you need to ask yourself is – Is Optionante a Scam? To that, there is no straight answer. It is undeniable that most of their traits are concerning and the lack of transparency displayed is just something which is unacceptable. They don’t offer anything which is unique in the industry.
Moreover, there is no factor which adds credibility to their platform or their claims made regarding profitability. So, stick with regulated brokers only in order to ensure fair treatment and security of your trading capital. Unregulated brokers might have all the bells and whistles, but ultimately when things get chaotic, the end loser will always be the clients.