BexOptions is a binary options broker that claims to offer its clients a safe and secure trading environment. However, there is a lot of evidence to suggest that BexOptions is a scam broker. In this review, we will take a closer look at BexOptions and its trading platform to see if it is really a safe and reliable broker.
Company Overview
BexOptions is owned and operated by BexTech LTD, a company that is registered in the Marshall Islands. The Marshall Islands is a known offshore tax haven, and it is not known who the real owners of BexTech LTD are. This lack of transparency is a red flag, and it suggests that BexOptions may not be a legitimate company.
Does BexOptions Have Any License?
You can trade all kinds of financial goods with Bex Options, which says it is a company based in the UK. You can trade in forex, cryptocurrencies, binary options, and more. But it hasn’t said anything about important trade conditions like payouts (for binary options) or goal spreads and leverage (for forex and crypto CFDs). It gets even worse: Bex Options tries to trick buyers into thinking it is a real company, but it’s not. Find out everything by reading on.
Is BexOptions Regulated By Any Authority?
No, BexOptions is not regulated by any reputable financial authority. Bex Options is a broker based in London that says it is licensed by the UK’s financial body and even gives you its company registration number. But the FCA says that this number belongs to Bex Trading Limited, a business that has nothing to do with Bex Options.
The UK’s Financial Conduct Authority (FCA) doesn’t say this directly, but Bex Options is a fake company that pretends to work under a real company that has a licence from the regulator. Scammers often use this trick to try to trick people into thinking they work for a real, licenced company.
Pros and Cons
Pros:
- None
Cons:
- Not licensed by any reputable financial regulator
- Not regulated by any reputable financial authority
- Lack of transparency
- Many negative reviews from previous traders
How Does BexOptions Reach To Their Prey?
BexOptions uses a variety of methods to reach potential customers, including:
- Online advertising
- Cold calling
- Social media marketing
- Email marketing
BexOptions also uses a variety of scams to attract new customers, such as:
- Promising unrealistic profits
- Offering bonuses and promotions
- Using fake testimonials
Technical Details
BexOptions uses a proprietary trading platform that is not available on any other website. This means that it is difficult to verify whether the trading platform is fair and honest.
Minimum Deposit:
The minimum deposit required to open an account with BexOptions is $1,000. This is a relatively high minimum deposit, and it suggests that BexOptions is targeting experienced traders.
Trading Platform:
Bex Options’ website says that it lets people trade in forex, binary options, stocks, cryptocurrencies, and even do some mining. It is said that its clients can use both of MetaQuotes’ systems, the MetaTrader4 and the MetaTrader5. These are the two best trade tools in their fields.
All of these good things about using Bex Options are, unfortunately, only possible. We were not able to check any of the broker’s claims.
Actually, this does not look like a MetaTrader platform.
Spread:
BexOptions offers a variety of spreads on its binary options trades. The spreads are generally higher than the spreads offered by other binary options brokers.
Leverages:
BexOptions offers a variety of leverages on its binary options trades. The leverages are generally higher than the leverages offered by other binary options brokers.
Packages and Products They Offer
BexOptions offers a variety of binary options packages and products. The packages and products are designed to appeal to a variety of trading styles and budgets.
Withdrawal and Deposit Method
BexOptions offers only cryptocurrency for withdrawal and deposit method.
What Do Their Previous Traders Say?
BexOptions has a very bad reputation among traders. There are many negative reviews of BexOptions online, and many traders have accused BexOptions of being a scam broker.
Summing Up- Why Should Not You Trust BexOptions
There are many reasons why you should not trust BexOptions. BexOptions is not licensed by any reputable financial regulator, and it is not regulated by any reputable financial authority. BexOptions also has a very bad reputation among traders.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have a problem with BexOptions, there is very little that you can do. BexOptions is not regulated by any reputable financial authority, so there is no one to turn to for help. You may be contact us a for a quick help. You will get a free consultation and service recommendations to help you in recovering the lost funds.
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Final Thoughts
BexOptions is a scam broker that you should avoid. There are many legitimate binary options brokers available, so there is no need to risk your money trading with BexOptions.
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