BigOption Review

Is BigOption Scam or Legit Broker?

BigOption is not a legit broker as it does not hold any serious license. As a general rule, we recommend avoiding offshore and non-regulated entities as traders who invest in non-regulated firms often cannot recover funds invested or gains received. Thus, we strongly advise against responding to any suspicious offering in regard to trading of financial investments and choosing only among the regulated entities.

• In fact, the Marshall Islands is an offshore zone attracting various firms that for one reason or another escape from serious regulation or compliance to international service providing. However, in the case of financial investment or trading firms, the company should be a very respected entity, as the statistics show that the majority of non-authorized firms never recovered the sums of investors' investments. Therefore, we always advise avoiding offshore or companies with no license as there are too many frauds around.

What is BigOption?

Wirestech Limited is a company that claims to be based in the Marshall Islands and run the trading brand BigOption which offers binary options trading (Check Regulated Binary Options Trading), as well as other derivatives investment opportunity.

• In the case of Wirestech Limited (BigOption), the broker also has appeared in the supervisory authorities of Ontario and British Columbia back in 2016 with the subject of a warning to the investors. While the European authorities warned potential clients and residents about the company offering too, meaning the firm was blacklisted almost by every regulatory entity.

Ontario Securities Commission Warning

“The Financial Services and Markets Authority (FSMA) warns the public against the activities of Wirestech Limited, trading under the name BigOption, a company that offers highly risky investment instruments in Belgium without complying with Belgian financial legislation.”

FMSA, Belgium. March 2017.

BigOption Review Conclusion

We recommend traders sign in with only trustworthy brokers with tight regulations. Therefore, we also advise choosing among the firms with authorization status that have been received from the major regulators from around the world. Check our reviews on regulated brokers like LegacyFX, Eightcap, or FXCC.

BigOption Update

Based on our research, the BigOption website is inactive. This means the broker has muted its trading offering and does not operate. However, we recommend avoiding and staying alert in case of any proposals.