Options FM scam is a widely known broker that manages to scheme an exciting investment opportunity. But, by the time the investors learn about its reality, their money vanishes.
Binary Options are very profitable when it comes to quick investment in the markets. Unfortunately, the market is pretty volatile and has uncertainty to it on an international level. But, with the help of this disorder, you can either make a fortune or lose one.
Let’s look at the broker that managed to make a mark in a few months.
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What is Option FM?
Option FM had become the fastest-growing broker in Europe and was growing. The firm had an algorithm that corrected the traders to get the possible returns in binary options trading. Also, helping the traders get many rewards changed according to the trading sizes.
B.O. Technologies Ltd. initiated Option FM in 2014. The broker, operated by Option Financial Markets, is based on SpotOption.
The platform offers around 200 assets and offers up to 91% return. They also have the option of a Demo account for orientation. The platform, however, cannot be accessed by US citizens. The minimum trade is as low as 1$, the most awaited broker for beginners. The beginners are also given more freedom for experimentation.
However, the website does not provide a different education section or academy for beginners. It compensates dearly with the deficiency with market news. There’s a section for global news, rumors, predictions, and announcements.
Their market updates carry a significant value which is quite different than that of unregulated brokers with untimely updates. Moreover, these updates come from experienced professionals who are well-known for their expertise.
The scam complaints regarding the broker are not quite outright, but before reaching any conclusion, it is safe to look at every factor before deciding. So let’s look at option FM scam or not.
Is Options FM Scam or Legit?
There are no severe complaints to confirm that Option FM is a scam. However, the broker has allegedly closed its services due to the inability to comply with the legal requirements.
It did not have success in the long run. Visitors kept decreasing, and the website was then shut down. Fortunately, the administration quit it well ahead of time before any public warnings from the regulatory authorities.
Option FM attracted clients from all over the world with its extensive team of financial experts from different regions. It became popular quickly due to its seamless customer support. The broker also managed to achieve a high ranking for a short period of time.
Option FM is not regulated. Although there are sources that propagate CySEC regulation, it is not regulated in any country. A public warning was issued by Ontario Securities Commission (Canada) against Option FM on 18-12-2014. The warning mentioned Option Financial Markets as well as B. O. Technologies Ltd.
The broker also came up with similar names by changing them very minutely: OptionsFM, Options FM, OptionFM, etc. The reason is to make full use of a famous brand name, which is why mixed reviews. Unfortunately, the broker is no longer active, and the option FM scam is legit.
How does Options FM Scam Work?
Contacting the account manager is easier with the Option FM scam. The managers have to be experienced in investment analysis, Binary Options brokerage, and hedge funds platforms.
They also offer automated trading for inventors who are busy and unable to check frequent updates before placing the suitable trade. They use Binary Options Robot; one can set it up whenever you want.
Option FM scam offers its clients the usual withdrawal procedure. Wire Transfers and Credit Cards are some of the methods you could choose from. The minimum withdrawal you can make is $80. They did not charge a fee for withdrawal processing.
Advanced Technology and Free Gifts
The online reviews of Options FM say that the company presented its traders with an expensive gift while trading, which included a free iPhone and a free MacBook. Thus, it furnishes the traders with the most advanced technology for trading.
No MetaTrader for support
It did not have any trading sessions for the budding traders or even the more experienced traders. It should assign a professional trader after each of its fresh traders it does not. A young trader needs to train to trade, and without a MetaTrader, they can’t. It leads to damages for them in the market.
Very high minimum deposits
To start an account with the Options FM, the traders would have to pay a very high minimum deposit of $250/ €250/ £250. Not refundable. The whole process would take more than 3 to 5 days, after which the traders were able to trade. Options FM automatically classified the trader’s first deposit into one of four account types according to the trader’s first deposit.
No Customer Care
The Customer Care number doesn’t pick up a single call. It was like they were busy 24X7, and when they did answer some calls, they would read the scripted answers with no peculiar solution.
What to do if you lost your money to Option FM scam?
The Options FM Scam was very hard to crack down as the company knows how to hide under a rug. However, the investigators at Financial Fund Recovery wouldn’t stop until they found it all out, and they did.
Option FM was an extraordinary broker, but it has now shut its doors, but it was just another binary options scam. The warning from Canadian regulators alerted the scam.
However, if you have lost your money to the Option FM scam, our seasoned experts can get it for you. The competition was tense as many Binary Options brokers emerged between 2014 and 2015. Unfortunately, most of those were unregulated.
People started taking legal status seriously. Regulation is critical no matter how transparent the broker is. Although it has happened for good, unregulated financial service providers need to be discouraged. You should avoid taking risks when you can trade with legitimate, regulated brokers.
Have you lost your funds to the Option FM scam? Is the broker blocking your withdrawals? Recover your money within 120 working days with our seasoned team of recovery experts.