Is CloseOption Scam or Legit Broker?

CloseOption is not a secure Forex broker since it does not hold a license from any worldwide serious Forex authority. Meaning the broker is suspected of being a fraud company since it was not checked for its compliance before establishment, was never monitored in terms of its safety, and simply may operate the business in any way it wishes.

About CloseOption
🗺️ Registered inGeorgia
🗺️ Type of LicenseNo License
🛡️ Is CloseOption safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

What is CloseOption?

CloseOption is a trading name and brand item that belong to the Organic Tech LLC Company incorporated in Georgia and provides access to trade mainly Binary Options and additionally Forex instruments. Even though the company operates under the permission and authorization of the National Bank of Georgia, the institution, however, is not specialized in the regulation of online trading or Forex offerings. 

There are not too many reviews or feedback about the company, which can be the reason that the company is relatively young and small, thus didn’t gain its highest popularity and potential reliability. The broker also tries to attract clients through small deposit requirements and performs regular contests and campaigns to award traders. Overall, it is hard to estimate or evaluate how exactly the company will treat its clients, is it a real scam or just another company in the rows of Binary Options?

  • The serious regulatory body sets numerous rules that are necessary for the broker and are turned with the purpose to protect the client at every stage of trading. Apart from the adequacy of capital requirements, and participation in schemes in unlikely events, as well as the operational standards, the serious authority constantly monitors how exactly the company operates and can find if something goes wrong.
  •  In addition, generally Binary trading is an extremely risky business that requires the highest level of accuracy while trading. Therefore, since the CloseOption broker delivers a relatively competitive offering to the client, it’s non-regulated as well the highest-risk investment environment revolves not the best solution.

CloseOptions

 

Overall CloseOption Ranking 

Because of the regulation and safety issues, we found during our research of CloseOption, we do not rank positively CloseOption, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

  • CloseOption Overall Ranking is 2 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.
RankingCloseOptionBDSwissHFM
Our Ranking⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐
Is Broker safe? NoYesYes
AdvantagesNoneCurrency TradeTrading Instruments

CloseOption Alternative Brokers

During our research, we found that CloseOption has a lot of issues, mainly in respect of its safety and customer care. Thus, here are much better Alternatives to CloseOption with tight regulations and great trading conditions. We select Good Brokers and trustworthy options for your comparison below: 

  • HFM – Good for Currency trading
  • FP Markets – Good for CopyTrading
  • FXTM – Good for Beginners

Deposit & Withdrawal

CloseOption offers global payment options to serve its members best and let them pay with the most trusted and secure payment methods. Traders may choose among the following methods: Bank wire transfers, Visa and Mastercard payment cards, plus Skrill, Neteller, bitcoin, CRYPTOPayments, etc.

  • It takes up to 30 minutes for a payment in bitcoin or other cryptocurrencies to be reflected in the CloseOption account
  • Deposits through other methods are instant
  • It takes three (3) business days for the withdrawal requests to be processed

CloseOption Review Conclusion

Our recommendation would be negative towards trading with CloseOption, as we always advise traders to sign only with reputable and reliable companies that are regulated by the world’s respected authorities. Check our list of Regulated Forex Brokers and choose the one that suits particular needs. We advise trading with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as BDSwiss and FBS.

  • Overall ranking and experience for CloseOption is Negative

No news available.

4 responses to “CloseOption”

  1. Closeoption.com is a trusted company. They pay withdrawals very fast, and their weekly contest is a unique opportunity to win cash prizes. Their approval process may seem odd at first glimpse, but all in all, it is an honest company.

  2. I beg to differ. I have been a trader with the platform for over 2 years and I can say CloseOption.com is an honest broker offering legit service. Over the course of time deposits and withdrawals have been processed smoothly. The customer service is good, always responds timely. Trusted Broker if you ask me.

  3. Closeoption, honest and very professional broker !
    I have been using closeoption for about 5 years. I believe he is a unique, honest and very professional broker. Possibility of real trading, demos and weekly contests that offer excellent and multiple earning opportunities.
    Cash gifts that can be withdrawn or used for trading.
    Withdrawals are safe and fast in several ways.
    Support is always available and ready to help.
    I am learning to trade and intend to continue using this platform with great enthusiasm

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