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OptioNow offered the promising SpotOption Gen2 that is something bigger than the Normal Binary Contracts. The platform facilitated with Ladder options, CFDs, Pairs, and Long-Term Options in addition to the conventional trading options…
OptioNow didn’t receive much attention because it couldn’t offer a sufficient number of assets. The introduction of SpotOption Gen2 certainly turned the tables in favor of this new trading platform. With the upgraded platform, the broker managed to offer over 120 assets.
What went wrong with this broker? Was it the case of serious OptioNow scam warnings? How did the broker perform and what were the most highlighted features? If you want to know the answers then you’re on the right page.
If you came here looking for some specific information on OptioNow then you can use the quick navigation links below to quickly jump straight to whatever it is that you are looking to find.
- OptioNow Background
- Is OptioNow Regulated?
- OptioNow Complaints
- OptioNow Withdrawal
- Is OptioNow a Scam?
- Our Verdict on OptioNow
- Get Your Money Back From OptioNow
- A Much Better Way To Make Money
Zluti Marketing Ltd. owned and operated OptioNow. The broker was based in Anguilla but the website contained phone numbers of various offices in different regions. Unfortunately, the website is no longer available.
A few financial professionals joined hands to establish OptioNow. The mission and vision statements on the website were focused on the provision of transparent, reliable, and legitimate trading services. Honesty was taken as the core value but it couldn’t stand by its promises.
The website didn’t feature anything innovative. It was much like most of the unregulated brokers. The only notable feature was the SpotOption Gen2 platform.
The website was available in Arabic, Russian and English. OptioNow offered 24/7 customer support. But the support methods was nothing more than the phone call. It didn’t offer online chat. The support process was also a bit delaying. It required the submission of ticker via email containing your contact details. With no Live Chat, most of the traders were often annoyed.
Is OptioNow Regulated?
OptioNow was neither regulated by CySEC nor by any other regulatory authority. This is why the traders found it hard to trust this platform. Though SpotOption Gen2 did attract traffic to their website there was nothing else to convince the visitors. The absence of Live Chat was also a huge concern for the traders.
When the website was operational, we once tried to test this platform. We were extremely surprised to see – while creating a new account – that the credentials were already registered with the platform and it didn’t let us create a new account. It was extremely confusing because this type of thing never happened before. We never visited the website before so how could our credentials be registered?
Later we successfully managed to solve the mystery. We actually had an account with 4XP and we realized that OptioNow extracted our information from that platform. So we could conclude that there was a close link between these two brokers. They might have been operated by the same team or else 4XP might have been selling or leaking its clients’ information. Whatever was the case, it was extremely unethical.
OptioNow also advertised that their platform offered a free demo account. Upon investigation, we again realized that our demo account was already functional with $10k virtual funds.
Traders also complained about the withdrawal policy. The website had a minimum limit of $100 for a withdrawal. In addition, the broker charged $35 for withdrawal processing. This amount is insane because the fee applied to all withdrawal methods including Credit Cards.
You first had to present your identification documents. After the approval, you could submit the withdrawal request. It took a few days to approve. After that, you could either use Credit Card or Wire Transfer for the processing. The processing required no less than 7 business days and it could keep you waiting for as long as 10 business days.
You could not withdraw less than $100 and it was an expensive process because the broker imposed a $35 fee for a withdrawal (even via Credit Card).
The withdrawal policy was extremely disappointing and discouraging. This is perhaps the worst policy we have ever come across.
Is OptioNow a Scam?
OptioNow scam complaints emerged as soon as the broker escaped and vanished. The website went down without a prior notice. The clients could withdraw their funds. People lost 1000s of dollars and had nothing to do after everything was lost. What could have been done? No regulation, no transparency, and on top of that, high service charges! These things are the characteristics of the financial service that is always trying to snatch your money.
Our Verdict on OptioNow
OptioNow is yet another a shattering and discouraging story. A bunch of such brokers has contributed to the notorious nature of the online Binary Options Trading. They are unpredictable, unreliable, and completely unethical. These are the stories that led to the ever increasing propaganda against Binary Options trading.
Thanks to some highly transparent and duly regulated brokers, the industry is still doing well. If you are also interested in online trading, you need to first educate yourself about the ins and outs, the risks involved, and the selection of the most reliable brokers.
Get Your Money Back From OptioNow
Have you found yourself scammed by OptioNow? Sadly it would not surprise us based on the complaints that we have been coming across since initially publishing this review, however the good news is that you have landed in the right place.
The reason we say you have landed in the right place is because we have put together a free money reclaim guide which shows you exactly how you can get your money back from a binary options scam.
The guide is step-by-step & to date it has helped thousands of people to successfully recover their lost funds from binary options broker so it is safe to say that it is proven to work.
Therefore if you have lost money to OptioNow brokers then we highly recommend you check it out. You can get access to it 100% free by clicking here now.
A Much Better Way To Make Money
As we mentioned above in this review we do not recommend trading with OptioNow & to be honest we do not recommend binary options trading in general because it is far too risky, and there are much better ways to make money online.
Whilst carrying out our investigations here at Stopping Scammers we’ve come across MANY legitimate opportunities to safely make good money online – however there has been 1 opportunity in particular which has stood out from all of the rest.
As a result we have named this opportunity our number 1 recommendation for working from home & if you are interested in it then you can get access to it for free by clicking the link below: