PlusOption Review

Is PlusOption Scam or Legit Broker?

It is not safe to trade with PlusOption as the broker does not hold any serious license. Although the broker is located in the UK, it does not hold a license from the country's top financial authority - FCA. This means, that engaging in trading with the broker might put your investments at risk. 

What is PlusOption?

PlusOption is CFD’s trading platform that offers diverse products through its user-friendly trading experience and company support. The company is located in London and claims over 23k engaged traders, numerous received awards, and a huge office team.

• However, almost every entity based in the UK related to financial investments and those firms that offer trading opportunities should be authorized by the local licensor FCA (Financial Conduct Authority). Unfortunately, this is not the case for PlusOption, therefore the company may state various benefits but the client will never know if this is true or false. The unregulated brokers most often just aim to target a maximum number of traders to make deposits, while further on the trader most probably will never see his funds again.
• That happens quite often, as the non-regulated company is overseen by none of the governmental authorities and can do whatever they think is correct. Yet, international regulators monitor the market offering and issue warning against those who seem to be scams, and PlusOption received some of them. 

“ASIC advises this company PlusOption also known as Redfield Markets could be involved in a scam. Do not deal with this business as it is unlicensed in Australia. The business listed has made unsolicited calls or sent emails about investing, financial advice, credit or loans and does not hold a current Australian Financial Services (AFS) license.”

ASIC, Australia. April 2018.

• What is more, there are many negative reviews from the PlusOption engaged traders that state their scammed experience on huge amounts.

PlusOption Review Conclusion

 In conclusion, we recommend choosing a well-regulated broker (Find top forex brokers by link) from FCA Brokers or ASIC Broker (Read ASIC regulated GO Markets review)s and not putting your own trading experience at the highest risks. Read about FCA Regulated Infinox & FXOpen.

PlusOption Update

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