Is Option888 Scam or Legit Broker?

Option888 has been suspected as a scam broker. The information the broker provides on its website on its location and regulation is quite confusing. Research shows, that  Option888 simply does not have and license, thus being an unreliable broker for investments. 

About Option888
🗺️ Registered inRepublic of Samoa
🗺️ Type of LicenseNo License
🛡️ Is Option888 safe to tradeNo
🗺️ Recommended LicensesFCA in UK 🇬🇧 & ASIC in Australia 🇦🇺
🖥 Alternative BrokerFP Markets - licensed by ASIC in Australia

What is Option888?

At Option888 is a trading name and brand used by Capital Force Ltd, with its stated location in the Republic of Samoa. The broker stated their combination of a modern, user-friendly platform with the latest advancements in online technology, to give our users a fast, responsive and accurate trading experience with guaranteed execution and accurate times. Moreover, Option888 mentions its run of offices worldwide including offices in London, Sweden, Malta, Germany, Holland, Spain, and France, while the broker has managed to become the largest Forex broker (Read BDSwiss review, which is one of the largest trading companies) serving Europe, Oceania, and the Middle East.

  • However let us check closer the states of Option888, what is first that the company writes its ownership and operation by Celestial Trading Ltd, that is licensed and regulated by the Montenegro security exchange commission. While the payments provided via credit cards are processed Celtic Pay Ltd, located in the United Kingdom. That is a quite confusing information, as addresses of incorporation, alleged regulation and payment providers are different. Also, in fact, Montenegro does not establish strict regulation to a Forex business, therefore the Option888 is rather simple non-regulated broker (Find the fake forex brokers list by link) than the one they wish to be.
  • In addition, the broker was banned and warned by Europe at authority as they are not authorized to offer their business. 

    “Option888 is not entitled to provide investment services or banking services in Austria that require a license. The provider is therefore neither permitted to trade on a commercial basis on its own account or on behalf of others (Art. 1 para. 1 no. 7 BWG), nor to provide commercial portfolio management

    FMA, Austria. November 2017.

Option888 Review

Option888 Review Conclusion

In conclusion, you better avoid Option888 and choose among the brokers that are regulated, while their promises are overseen by the authorities. There are many brokers to choose from, thus select from ASIC Regulated brokers or similar entities (Read about ASIC Regulated GO Markets & Axitrader).

Option888 Update 

Based on our research, the Option888 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. 

No news available.

Leave a Reply

Your email address will not be published. Required fields are marked *