Option FM – Another Binary Options Scam? Review Uncovers The Truth

Today we are going to review another seemingly impressive broker that emerged in 2014 and managed to make a mark in a few months. Option FM managed to attract clients from all over the world thanks to its extensive team of financial professionals from various regions…

Option FM Broker Website Screenshot

Option FM quickly became one of the most promising brokers and it was mainly due to the provision of exceptional customer support. The broker managed to achieve higher rankings for a brief period of time.

Our readers have shown interest in this broker so we came up with the idea of a review to help our readers make the most suitable conclusion. Option FM scam complaints haven’t been frequent but still, you need to consider each and every important factor before making a decision. Let’s begin with the brief history!

Option FM Review Summary

Cost: $250+

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

Rating: 0/100

Summary: Option FM has now closed its doors however it did indeed prove to be just yet another binary options scam so it’s safe to say that we are glad to see that it has now closed down. If however you happen to have already lost money to Option FM then continue reading our review here to see how you can get it back.

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Option FM Background

B.O. Technologies Ltd. introduced Option FM in 2014 and the broker is operated by Option Financial Markets.

  • London Office Address is 788 Finchley Road, London, UK.

The broker is based on SpotOption. It offers up to 91% return. The platform offers approximately 200 assets. In addition, the Demo account is available for orientation purpose. Unfortunately, US citizens are NOT entertained.

The good news is that the minimum trade is as low as $1. This is what beginners have been waiting for. It serves the beginners with more freedom of experimentation.

The website doesn’t offer a separate education section or academy for the beginners. But it compensates for this deficiency with its timely and reliable market news. The updates contain global news, rumors, predictions, and announcements. This section is arguably the best news section we’ve ever come across. That’s definitely a huge plus. We love their market updates for the fact that they really carry significant value. Almost all of the brokers (unregulated) come up with below average updates that are not even published in a timely manner.

The clients are also happy with the updates they receive. The reason is that these updates come from experienced professionals known for their expertise.

Another good sign is that contacting the account manager is super easy with Option FM. The managers are selected carefully based on their experience in investment analysis, Binary Options brokerage, and hedge funds platforms.

Then comes the automated trading for those who don’t have enough time to frequently check the updates before placing a suitable trade. It uses Binary Options Robot, you can set it up whenever you want.

Is Option FM Regulated?

Option FM is NOT regulated. Though various sources propagate CySEC regulation, the truth is that this broker isn’t regulated anywhere in the world.

Ontario Securities Commission (Canada) issued a public warning against Option FM on 18-12-2014. The warning included both firms, i.e. Option Financial Markets as well as B. O. Technologies Ltd.

Option FM Complaints

We didn’t find many complaints about this broker. The fact is that different brokers came up with a similar name with minor changes, for instance, OptionsFM, Options FM, OptionFM etc. These variations have been for a definite reason, which is to make full use of a popular brand name. This is why reviews are mixed.

Option FM didn’t manage to acquire a license. The lack of regulation resulted in a decrease in its popularity to the extent that it had to quit. Today, the domain has been converted into a simple news website that contains updates from the global financial market. The broker is no more active.

Option FM Withdrawal

Option FM facilitated its clients with the conventional withdrawal procedure. Wire Transfer and Credit Cards are a couple of methods you could choose from. $80 was the lower bar for the minimum withdrawal. The broker didn’t charge a fee for withdrawal processing. But in the case of a wire transfer, the cost depended on the selected bank.

Is Option FM a Scam?

We didn’t find any serious complaints to confirm Option FM scam possibility. We are convinced that the broker closed its services due to the inability to comply with the legal requirements. In addition, it didn’t have much success in the long run. The number of visitors kept decreasing and the website was taken down. The administration decided to quit well in time rather than waiting for the possible public warnings from the regulatory authorities.

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Our Verdict on Option FM

Thumbs Down

Option FM was a bit more than an average broker but unfortunately, it didn’t manage to stay for a long time. The warning from the Canadian regulators triggered the alarm. The competition was tough because scores of Binary Options brokers emerged between 2014 and 2015. Most of them had been unregulated.

People started to take the legal status more seriously. No matter how transparent a broker is, regulation has become increasingly critical. And it is a good sign. We all need to discourage unregulated financial service providers. There is no need to take risks when you have to option to trade with the legitimate regulated brokers.

Get Your Money Back From Option FM

Have you lost money to Option FM? Are Option FM blocking withdrawals? We’ve heard the rumours about this happening & so as a result we want to share you with our free money reclaim guide.

If you have lost money to a scam online then our free guide will show you step-by-step exactly what you need to do to get it back & it has helped thousands of people to date so we know it can help you too.

Therefore if you have lost money to Option FM don’t let them get away with it, access our free guide & fight back against the scammers to reclaim the money that is rightfully yours.

You can get access to the guide for free by clicking here.

A Much Better Way To Legitimately Make Money

Here at Stopping Scammers we hate binary options trading – in fact we believe the whole thing is just a big scam in itself, so it’s safe to say that we don’t recommend it – but there are alternative (better) ways to make money.

We have actually come across many different ways to make money online whilst carrying out our investigations, but there has been 1 in particular that has stood out from all of the rest.

In fact the particular opportunity we are about to share with you is so good that we actually decided to give it the official name of our number 1 recommendation for working from home.

So you can get access to our number 1 recommendation (for free) by clicking the link below:

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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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