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72Option claims to be a top broker that allegedly provide a variety of option types to investors, enabling them to trade binary options with ease…
They even claim to have over 125,000 people trading with them & state that you can practice for free… But is it really a legit binary options brokerage? Or is 72Option a scam that will just end up parting you with your cash?
Thankfully you’ve landed in the right place to find out because in this 72Option review we are going to be uncovering the truth & determining whether or not they are really a legit brokerage to trade via (and whether or not they are allowing withdrawals).
Here at Stopping Scammers we always do thorough investigations which means as a result our reviews often get very detailed, so to make things easier for you we have put together this quick navigation section. If you have come here looking for some specific information then all you need to do is click one of the links below & you will be immediately taken to that exact section of the review.
- 72Option Background
- Is 72Option Regulated?
- 72Option Complaints
- 72Option Withdrawal
- Is 72Option a Scam?
- Our Verdict on 72Option
- Get Your Money Back From 72Option
- A Better And Safer Way To Make Money
72Option is owned and operated by a company named Epic Ventures LTD which appears to based out of Bulgaria.
Their official office address Ivan Dimov Nenov 7, Sofia, Bulgaria 1360, however despite being based in Bulgaria their contact number which is +27 10 594 3775 actually routes through to South Africa.
They offer the ability for members to trade binary options via their platform but alongside that they also offer Forex and CFD trading.
The types of binary options available for trading via 72Option are High/Low, Pairs, Long Term, 60 Second, 5 Minutes Options, One Touch, Ladder and Limits.
They launched in around 2016, but didn’t gain full traction until around 2017 – when visits to their website actually “went off the scale”. This rings alarms bells with us because they went from around 20,000 visits to their website per month in early 2017, to over 100,000 visits just one month later – which suggests people may be “rushing” to 72Options to empty their accounts (after hearing some bad news).
Some people might just see those statistics as company growth, and whilst it’s certainly possible, we believe that going from 20,000 visits to 100,000 in just a period of 30 days is very suspicious to say the least.
Another potential explanation for the sudden surge in visitor numbers could have been a partnership with an unscrupulous trading system, like the Britcoin System for example.
Such fake systems launch and funnel huge numbers of people through to brokers in return for commissions by tricking the people into thinking that they’ll be able to generate automated profits.
That could certainly be an explanation for 72Option’s sudden growth but either way it still remains suspicious in our opinion.
Is 72Option Regulated?
Whenever you’re looking into any sort of investment scheme or brokerage you should always first check to see if the company holds the relevant licenses for the country that it is operating in (or to).
Without a proper license it means the company is operating illegally & therefore it is likely to be a scam company.
The regulators include bodies like the FCA in United Kingdom or the FSB in South Africa.
However upon our research & searching the official registrars we could not find any license for 72Option which means 72Option appears to be unlicensed and unregulated.
We strongly advise against getting involved with an unregulated broker as doing so is almost like you are asking for trouble. The way we see it is that if they were legit, they would have a license.
So no license & no regulation rings alarm bells for sure – and the only reason we can ever imagine a company would not hold a license is because they were unable to obtain one… Which means as far as we’re concerned that their practices are not legit – or at least not to regulatory standards.
This means that they could essentially just disappear with your money, and that’s why we always advise steering clear of any company that does not hold the relevant license.
We looked around the web for complaints about the 72Option brokerage and we were shocked at what we found as there were many, many complaints about this brokerage.
Lot’s of members complained about pressure tactics being used to get them to deposit more money but most members complained that after profiting they were then blocked from making any withdrawals & as a result were prevented from accessing their money.
There are also several other complaints about the legitimacy of the platform because people have claimed that money has disappeared from their account.
This doesn’t entirely surprise us though because after finding out that they were operating without a license we had immediately suspected that something suspicious might have been going on.
It looks like it could potentially be a rogue operation & that they are just tricking people into handing over their cash. The whole binary options trading thing could just be a front, however members are only left to discover that the hard way when they finally go to make a withdrawal.
We’ve seen this tactic time & time again, and sadly it’s very convincing. Members think that they are really trading, however in reality they are just essentially playing a video game as there is no real trading actually going on, the brokers are just faking it to trick the members into depositing more by making it seem like they are successfully profiting.
Then, when members finally come to withdraw their funds they’re left to find that their withdrawal requests gets ignored or point blank refused – and that’s when they find out it’s all been a scam.
Many members appear to have reported withdrawal problems with 72Option and have come to find that they have been blocked form accessing their funds.
It seems that 72Option is ignoring or sometimes even point blank refusing withdrawal requests which means people cannot access their money, and it is leaving many people to believe they have been scammed.
It is a common trick of a scam binary options broker to fake profits to make it seem like you are earning but then later block withdrawals & this looks to be the case with 72Option.
We never recommend getting involved with a company that doesn’t hold a regulatory license for this very reason, but if you do ever decide to get involved with a company you should always make regular withdrawals and never leave any substantial amount of money build up inside of your account because that’s exactly what the scam binary options brokers prey on.
Is 72Option a Scam?
In our opinion yes, 72Option is a scam because there have been many complaints about 72Option blocking withdrawals which means it looks like they are simply parting people with their hard earned cash.
Also, they do not hold any license for the countries that they are operating in which means they are actually operating illegally and that is also another common trait of a binary options scam.
On top of that though we believe binary options itself is actually a scam because it is extremely risky & we have never, ever seen anybody make consistent profits from binary options.
On the surface it looks easy to profit from but in reality we believe binary options is just a way for scam brokers to part people with their cash. It is essentially just gambling however it works in the brokers favour & that’s why most people lose money.
Binary options trading is ultimately very dangerous & that is why it has now completely been banned in many countries around the world.
Our Verdict On 72Option
Also it is worth pointing out that 72Options offer binary options trading & we do not recommend binary options trading at all because it is very risky.
Ultimately we believe that if you sign up to 72Option that you will end up losing money rather than making it so we do not advise joining because we believe there are better & safer ways to make money.
Plus like we mentioned at the start of this review 72Option appears to be unlicensed and we NEVER recommend an unlicensed broker because the risk that they will take your money is far too great.
Nearly all unlicensed brokers turn out to be scams sooner or later, so we definitely do not recommend joining if you haven’t done so already.
Get Your Money Back From 72Option
Has 72Option blocked your withdrawals & stopped you from getting access to your money? We have heard a lot of complaints about 72Option doing this unfortunately, but you can get your money back.
Our free money reclaim guide which you can access here shows you exactly the steps you need to take to get your money back from 72Options and the guide is proven to work.
To date it has helped thousands of people retrieve their money back from scam brokers & so if you have lost money to 72Options then we highly recommend you get the guide & follow the steps yourself.
A Better And Safer Way To Make Money
If you had not yet joined 72Option but were looking for a way to make money & want a safer way to make good money online without the risk of being scammed then you should check out our number 1 recommendation.
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