Is 1PrimeOptions Scam or Legit Broker?

No, 1PrimeOptions is not a safe broker as it lacks a reputable license from a leading regulatory authority. The company conducts its operations under Global Options LTD and is registered in the Marshall Islands, a jurisdiction often associated with questionable practices.

  • The Forex industry in the Marshall Islands operates without robust regulatory oversight. Although brokers based in SVG might provide a range of favorable financial services, their level of supervision does not meet the stringent standards that are offered by top-tier authorities, such as ASIC, FCA, etc. Therefore, trading within an offshore jurisdiction is known as less secure. 
 
About 1PrimeOptions
🏢 Registered inThe Marshalls Islands
🗺️ Type of LicenseOffshore
🛡️ Is 1PrimeOptions safe to trade?No
🗺️ Recommended LicensesFCA in the UK 🇬🇧 and ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia
 

What is 1PrimeOptions?

1PrimeOptions was established in 2020. 1PrimeOptions operates as a broker specializing in binary options trading through its 1PrimeOptions App. Binary Option is a financial exotic derivative where the payout depends on the outcome of a “yes or no” proposition and relates to whether the price of a particular asset will go up or down below a specified amount. Binary options are considered very risky, thus they are restricted by all the world authorities.

1PrimeOptions does not stand out for its favorable features and offerings. It does not use any market-popular platforms, account options are restricted to a single account type, and altogether, it comes with a number of red flags that are listed below:

  • Lack of serious registration: 1PrimeOptions is registered in the Republic of the Marshall Islands, under business company number 118183. It is a known fact that this is an offshore jurisdiction that does not provide sufficient oversight and guidelines. Thus, 1PrimeOptions and other brokers registered in the Marshall Islands cannot be considered the best option for financial investments. Often, offshore brokers turn out to be financial scams.
  • Unfavorable trading conditions: The broker's offerings are quite limited and may not suffice for comprehensive trading needs, particularly for professional traders. Besides, this is not a good option for beginner traders either, as there are not any educational materials that could accommodate novice traders. Still, the good part is that 1PrimeOptions offers a Demo account
  • Problems with the withdrawal process: In fact, the withdrawal process is one of the most important aspects of trading to consider. Insufficient withdrawal process might lead to a lot of headaches and, of course, loss of money. Based on the feedback from real traders, the 1PrimeOptions withdrawal process is not smooth and straightforward. Many clients complain of being unable to withdraw their investments and profits.
  • Negative Reviews: Based on our research, most of the reviews on 1PrimeOptions are negative. Many traders mention the insufficient withdrawal process, lack of tools, limited account options, etc
  • At last, we always recommend signing in with a broker that offers a trustworthy and secure environment for trading. Instead of choosing an offshore broker, engage with Regulated brokers with favorable offerings and a high level of security. 

Overall 1PrimeOptions Ranking

Based on a decade of experience in the Forex trading industry, our research has unveiled notable reservations concerning 1PrimeOptions reliability and its adherence to regulatory norms. Consequently, we cannot assign a favorable ranking to 1PrimeOptions.

  • 1PrimeOptions Overall Ranking is 3 out of 10 based on our testing and compared to 500 other brokers. See Our Ranking below compared to other popular and industry-leading Brokers.

Ranking1PrimeOptionsHFMEightcap
Our Ranking⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐
Is Broker safe? NoYesYes
AdvantagesNoneTrading environmentTrading Conditions

1PrimeOptions Alternative Brokers

In light of the safety concerns associated with 1PrimeOptions, we highly advise traders to explore alternative options that provide more rigorous regulations and enhanced trading conditions. Below, is a list of reputable brokers that offer trustworthy choices and a secure trading environment for consideration:

  • FP Markets – The best selection of Educational Resources
  • Eightcap – Good Market Instruments
  • HYCM– Low Spreads and Competitive Trading Conditions

Deposits and Withdrawals

The deposits and withdrawals 1PrimeOptions handles are only in Bitcoin (BTC). The broker warns that deposits and withdrawals may fluctuate based on Bitcoin's volatility. 

  • The minimum deposit is 10$
  • As for withdrawals, when the withdrawal request is issued, one of the broker's agents contacts the client to confirm the trader's identity and confirm the wallet where the BTC will be sent.
  • The withdrawal process takes between 24 and 48 business hours from the moment the request is made. 
  • However, we urge traders to be very careful, as the broker has multiple negative reviews for insufficient withdrawals. 

Account Types

This broker offers a single live account option available for direct 1PrimeOptions Login, and the minimum deposit requirement is $10

  • The broker provides access to a 1PrimeOptions demo account, which is one of the few positive aspects of this broker. Also, traders can access $10,000 in virtual funds through the demo account and practice trading. 

1PrimeOptions Review Conclusion

Based on the information we have gathered concerning 1PrimeOptions, there are significant concerns about the broker's reliability and trustworthiness. Despite the broker's seemingly appealing features and offerings, its registration in an offshore jurisdiction (The Marshall Islands) raises substantial doubts. Additionally, the broker offers Binary options, which is considered an extremely risky offering in trading. At last, numerous complaints and negative reviews from actual traders make it clear that 1PrimeOptions is not the optimal choice for investments or trading overall.

We strongly advise seeking a broker that holds licenses from reputable authorities like FCAASIC, or CySEC. When choosing reputable brokers with a strong standing there are several noteworthy options to explore, including but not limited to BlackBull Markets, HFM, and Go Markets.

  • Overall ranking and experience for 1PrimeOptions is Negative

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