Scam Brokers

33option

Summary

33option is a Europe based binary options broker. This firm is based in Cyprus and is licensed and regulated by the CySEC since 2013. They offer to trade on the TechFinancials binaries platform. This company is operated by B.O Tradefinancials ltd. They are backed by their sister company TechFinancials which is a market leader in providing trading technology and is listed on the London stock exchange AIM market. Optionfairbinsry which is a broker brand is also handled by them. Our review will give you more clarity on the nature of the firm and the benefits and liabilities of investing with them.

THIS BROKER ISN'T LICENSED

33Option Scam Review

33option: A review – Authentic or a Scam?

33option is a Europe based binary options broker. This firm is based in Cyprus and is licensed and regulated by the CySEC since 2013. They offer to trade on the TechFinancials binaries platform. This company is operated by B.O Tradefinancials ltd. They are backed by their sister company TechFinancials which is a market leader in providing trading technology and is listed on the London stock exchange AIM market. Optionfairbinsry which is a broker brand is also handled by them. Our review will give you more clarity on the nature of the firm and the benefits and liabilities of investing with them.

COMPANY DETAILS:

As mentioned above the 33 binary firm does its trading using the TechFinancials binaries platform. Also, the company provides the customers access to an educational centre to educate themselves on the basics of binary options which they can use to optimize their trading strategies. The broker also offers an online webinarstrading glossary and many other services.

FUNDS SECURITY:

For better security measures, Cypriot financial watchdog has applied a certain set of rules and regulations to the license holders.

For e.g. B.O tradefinancials ltd was fined EUR 138,000 by the CySEC as a contingent liability for certain regulatory breaches in the preliminary results for the year 2015.

Also, it is required by the CySEC for the brokers to hold a minimum balance of €730 so as to prove their financial standing. They are asked to report their transactions regularly. Also, each of the CIFs is the member of the investor compensation fund which aims to cover investment losses of a maximum 20,000 EUR per person if the broker becomes insolvent.

Additionally, all the companies regulated by the Cypriot financial watchdog can operate freely in all the EU member nations as CySEC is a part of the European MiFID regulations.

TRADING ACCOUNTS:

33option unlike most of the binary options brokers doesn’t provide multiple type accounts to the clients. They offer a single type of account only. This has disadvantages that the clients cannot choose between different types of accounts but is advantageous in the respect that all clients are treated equally. Also, they don’t offer demo accounts.

TRADE CONDITIONS:

  • Minimum initial deposit of $250 is required by the client which is a standard for all binary options markets.
  • The trading options available are high/low, one touch, boundary, 60-second trades.
  • The assets that can be traded are stocks, currencies, commodities and indices. The expiry time offered is 60 seconds to long term.
  • The min amount that can be invested in a single option is $25 which is much higher than several other brokerages. For e.g. one can place a trade with just $1 with Grand Capital.
  • 33options provides a very good payout to investors with the highest payout % reaching 85%. In comparison, Grand Capital offers 86% payout.
  • 33options also provides a percentage of refund of the invested amount if the option expires ‘out of money’. Typically 0%-10% refunds are offered. For e.g. on an investment of 100$, 0$ – 15$ will be refunded.

TRADING PLATFORM:

We already know that 33option uses TechFinancials which was developed by its sister company. This trading platform, which is entirely web-based, is one of the leading platforms available in binary trading. Apart from the typical options, 33option’s platform also features early closure which is a great risk management tool. This tool enables the clients to cancel the executed trades within a 3-second window that follows the execution. However, the cancellation attempts are limited to 3 per day

Also, signals are delivered by 33options directly to the clients’ email. Although many brokers feel this as a positive incorporation, signals are usually incorporated in the trading platform by many binary options brokers. This method is deemed more useful.  

BONUSES:

33binary, unlike most binary brokers, doesn’t offer trading bonuses. This, however, can be hardly viewed as disadvantageous as most brokers have set up high trading volume requirements as a prerequisite to withdraw profits from the bonus funds. This multiplies the risk of binary trading. This is in line with the CySEC’s advice that the brokers should avoid the practice of offering bonuses in December 2016.

METHODS OF PAYMENT:

33options provides various methods for payment to the investors. These include Credit/debit cards, Bank wires, Skrill, Neteller, Giropay, Astropay, Webmoney, Qiwi, cashU, Sofort and Ideal. Also, one free withdrawal is offered to the clients. Additional withdrawals are subjected to a withdrawal fee of 30 USD, EUR, GBP or any other local currency equivalent. Withdrawal requests are usually processed on the very same day or the next day if the request is made after the business hours.

CONCLUSION:

In conclusion, the 33options broker offers many advantages such as it is a regulated broker, the high payout %, the wide range of trade-able assets and the use of the TradeFinancials platform.

However, they also don’t offer any choice of trading accounts or demo accounts. They don’t offer copy trading options or bonuses. See how scam works, here.

THIS BROKER ISN'T LICENSED

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