Is OptionTime a Scam?

The Full Spread on OptionTime!

If you’re about to trade binary options online, you should bear in mind that not every broker is credible, licensed or regulated. There are several factors to consider before you register and deposit at a binary trading platform. OptionTime is synonymous with security, quality and customer satisfaction even though it’s a fairly new online brokerage. It fits the bill in terms of licensing and regulation, and it certainly goes above and beyond in terms of user friendliness and its interactive trading interface. This in-depth review will scrutinise every major aspect of OptionTime, and present the facts for you.

The minimum deposit is really low, and traders with $200 can open a real-money trading account. The minimum investment amount stands at $10, with no maximum listed. In terms of returns, OptionTime is on par with the best of them with max returns of 80%. Traders begin with the OptionTime premium account, and this also offers access to a wealth of learning tools for an enhanced trading experience. Bonuses are available to traders in the region of $250, with additional perks such as account managers, mobile apps, multimedia library access, risk management tools and the like.

OptionTime offers traders a cash bonus, but this bonus comes with turn requirements. This means you will be required to trade a volume between 20-30 times the size of your bonus before you’re able to withdraw your funds. The company does this to protect itself from traders who would otherwise simply withdraw the bonus cash without trading. By simply offering a bonus with conditions attached to it, this company cannot be considered a scam broker. Clients have access to all the information needed to make an informed decision about trading at OptionTime.

The Regulatory Framework

OptionTime operates within a fully regulated legal framework, as stipulated by CySEC. Safecap Investments Ltd (Cyprus) manages the trading platform at OptionTime and you can read more about it in our OptionTime review. This company is highly regarded in the binary options world, and enjoys the patronage of traders everywhere. The Cyprus Securities and Exchange Commission (CySEC) is widely considered the gold standard when it comes to regulation of binary options platforms. This European licensing authority enjoys widespread acceptance throughout Europe. OptionTime is also affiliated with the FSA in the UK, the FSB in South Africa and other regulators around the world. With the licensing and regulation taking care of, traders should also look out for things like banking. Security remains the #1 concern for anyone using online sites where money changes hands.

Fortunately, OptionTime takes security seriously. Verification is required to validate ID and certain documents will need to be submitted to that effect. As you might expect from a credible online trading site, a wide range of payment options is accepted including Skrill, bank wire, credit cards and WebMoney. In line with CySEC requirements, OptionTime is mandated to maintain separate accounts for traders and the company. This is done to ensure that insolvency or judgments against the company will not affect the trader’s balance.

This fact alone is as important as licensing, since it eases traders concerns about any forms of misconduct on the part of Safecap Investments Ltd. However it should be borne in mind that this regulation only pertains to accounts that are held in the European Union. If for any reason Safecap Investments Ltd decides to deposit client funds outside of the EU, the regulation does not apply. This is covered in the terms and conditions of the company.

Customer Support

Like all credible binary options companies, OptionTime goes the whole 9 yards to make it easy for traders to get in touch with representatives from the company. Efficiency is the order of the day, and account managers are assigned to clients to get them up and running. Telephone support is available across 20 different countries, with many toll-free numbers available too. The browser-based platform is intuitive, but support reps can be contacted with any queries they may have.

A distinction has to be made between legitimate feedback and sour grapes. For example many traders who have lost money with binary options trading routinely blame the binary options trading platform. This is why it is especially important to read the terms and conditions associated with things like welcome bonus packages. It should also be remembered that options trading is inherently risky, and loss of all of your capital is a real possibility. With this in mind, the right strategy can be adopted to minimise your overall level of risk while maximising your potential gains.

In Summary

Whatever company you decide to go with, it is important to understand that options trading is risky. You can mitigate your overall level of risk by selecting a binary trading platform that is regulated, credible and respected by other traders. OptionTime is still a young company, and not too much information is available about it. It is regulated, but we have discussed how certain brokers can get around the issue of accountability by holding your account outside of the EU. The bonus program is generous, and in line with what other brokers are offering to their clients. On paper, and in practice, OptionTime is not a scam.

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