Global Option Scam Shut Down – Review Uncovers Its Link With EZTrader

Today we have decided to review another veteran online trading platform that started its journey back in 2010. Global Option marks the beginning of online brokerage offering binary options…

Global Option Broker Website Screenshot

The platform featured most of the basic trading options. The platform was mainly popular among the beginners. Global Option also served with the Trader Insight Tool that was much appreciated by the newbies.

Does the association with the EZTrader platform add to the reliability of this platform? What should you know about the Global Option scam complaints? How did this broker manage to make a mark in the industry and how did the sister websites perform? We’ll try our best to answer these important questions.

Global Option Review Summary

Cost: $250+

Recommended: No (See Our Top Ranked Legit Program Here)

Rating: 0/100

Summary: Initially Global Option looked like a legitimate binary options broker however many were sceptical due to its links with EZTrader & as a result few traded with Global Option despite it being licensed. Either way Global Option ended up shutting down after regulatory action was taken against its sister company. Looks like after all this way just another broker with scam intentions.

Quick Navigation

We have put together an in-depth review of Global Option however if you have just came here looking for some specific information then you can use the links below to quickly navigate through each of the sections of the review.

 

Global Option Background

WGM Services Ltd. introduced Global Option in 2010. This is the same owner that operated EZTrader. This broker, like its sister website, focused more on advertising and promotional content.

The platform facilitated commodities, stocks, currencies, and indices but there was a contradiction in the advertised number of assets and the actual number of assets presented on the website.

Just like EZTrader, Global Option was also extremely simple and in doing so, the administration ignored various updated features. This is what frustrated the experienced traders.

The website lacked a well-organized asset list. We never found any charts on their website. Overall, the website lacked professionalism. The Live News feed was ignored in the beginning but the issue was fixed in after 2012. The daily market review had never been impressive. The FAQ section was frustrating initially but was then revised after a couple of years.

Is Global Option Regulated?

Global Option was regulated by CySEC as WGM Services Ltd. acquired the license in 2013. But the company had to suffer from various fines for violating the legal requirements. In addition, the company’s management went through various conflicts.

WGM Services Ltd. managed to win sponsorships from various international Football Clubs from Germany, Italy, and the UK. But things still did not recover and the company had to withdraw from its trading platforms.

Global Option Complaints

Global Option was much like its sister website, EZTrader in a sense that both of these platforms acted like a social network instead of a trading service. The administration did well to organize Global Option website but even then it was far from a professional binary options broker. It offered fewer assets. It had nothing valuable for the experienced traders. The FAQ section was pathetic in the beginning. It was a list of questions, as you clicked on a question, the page was redirected to the answer. Then you had to return to the FAQ page, click on another question that once again redirected you to the new page.

Global Option scam alerts began to increase in number after the website suffered from a significant fall in the number of visitors. Unfortunately, this CySEC regulated broker faced the same fate as of EZTrader. The parent company suffered from internal ownership conflict that led to the ultimate demise.

Global Option Withdrawal

Global Option didn’t explain its withdrawal policy in a clear way. It was confusing. For instance, it mentioned eWallets but we never found the name of even a single virtual card. On the other hand, no minimum withdrawal limit was mentioned. The website talked about the withdrawal fee but it never stated the amount. The processing of the withdrawal (wire transfer) required from at least 3 business days to 5 business days.

Is Global Option a Scam?

Global Option scam rumors are mainly based on myths. The broker had been no different than EZTrader. These platforms had to shut down for the internal conflicts in VGM Services Ltd. The regulatory authorities imposed fines for violating the terms. Even the license was suspended in 2014 but was quickly restored.

We never found serious complaints or warnings against Global Option. The broker had to close its services for different reasons. There had never been anything malicious about its practices.

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Our Verdict on Global Option

Thumbs Down

In the beginning, Global Option failed to impress because the website was too basic to believe. With the passage of time, some changes gave it a professional look. The layout was improved, the design was updated, and the FAQ section was revised.

The broker was fairly good for the newbies. Unfortunately, the experienced traders failed to appreciate the service. The broker is no more in the business. It is a shame to see a regulated broker having to shut down but anything is possible when it comes to online binary options brokerage.

Get Your Money Back From Global Option

It has since come to our attention that a few people have reported having lost money to Global Option, we’re not sure why, but if you have found yourself scammed by Global Option then you need to check out our free money reclaim guide.

Our guide has helped thousands of people to date & it shows you the exact steps that can enable you to reclaim your lost funds from the hands of scammers.

So if you have for some reason found yourself scammed by Global Option then you should definitely check out our guide and once again you can get access to it for free by clicking here.

A Better (And Safer) Way To Make Good Money

Here at Stopping Scammers we really don’t like binary options trading, not even with the regulated brokers, because we believe that binary options trading in itself is actually just a scam.

It’s very risky & most people who trade it just end up losing money… In fact we’ve never seen anybody make sustainable profits from binary options trading, so we believe it’s bad news.

But don’t fear, because are there some VERY good legitimate ways that you can make money. One of them though has stood out to us from all of the others & as a result we’ve given the crown of our number 1 recommendation for working from home.

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About the Author:
Hi, I'm Dale, the founder of Stopping Scammers. I fell victim to an online scam many years ago & I launched this website, as a result, to protect others from making the same mistake. I now earn a living working online after discovering a legitimate method called affiliate marketing & I aim to share what I've learned to help others to do the same. You can report a scam here or you can see the legitimate methods for earning online here. I truly hope you find this website helpful.

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