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Sycamore Options has been a welcome addition to the online brokerage for the big reason that it invited the American traders. The broker came up with a simple policy. Our readers expressed their concerns about the fewer number of reviews on the brokers inviting the U.S citizens. So here we are!
Sycamore Options is based on SpotOption. The platform is fairly simple. The website is decent and the navigation is fairly easy. There is nothing too complicated. For all those looking for some fuss-free trading experience, this broker could be the choice.
Before making any decision, it is important to have a careful look at the Sycamore Options scam alerts. Before that, let’s have a look at the basic information about the company operating this platform.
Sycamore Options Review Summary
Cost: $250+
Recommended: No (See Our Top Ranked Legit Program Here)
Rating: 0/100
Summary: Sycamore Options is another scam binary options broker that shares association with TraderXP, another known scam in the industry. It’s safe to say that Sycamore Options should definitely be avoided & if you happen to have already lost money to Sycamore Options then do keep reading to see how you can get it back.
Quick Navigation
Our review of Sycamore Options is likely to become quite lengthy as we like to conduct thorough investigations into brokers like this so to make things easier for you we’ve put together some links below that you can use to quickly navigate through each of the different sections.
- Sycamore Options Background
- Is Sycamore Options Regulated?
- Sycamore Options Complaints
- Sycamore Options Withdrawal
- Is Sycamore Options a Scam?
- Our Verdict on Sycamore Options
- Lost Money To Sycamore Options? Get It Back!
- A Better (And Safer) Way To Make Good Money!
Sycamore Options Background
Sycamore Options was introduced in 2013 by Sycamore Options Ltd. and the platform was operated from Bucharest, Romania.
- Email. Customer_care@Sycamoreoptions.com
- Phone. +44 203 355 0067
This broker required a minimum initial deposit of $200. The website is simple and the design straightaway suggested that it was based on SpotOption. Sycamore Options features OptionBuilder, Up/Down, and 60-Sec, and One-Touch. The broker offers 30 stocks, 7 commodities, 15 currencies, and 25 international indices.
The indices available with Sycamore Options represent the world’s major economies from Europe, U.S, Middle East, Asia, South America, and Russia. Depositing money is super-easy and this is the obvious case with most of the brokers because the account managers want you to deposit more and more money. Withdrawals are tricky though. We’ll get onto that in just a moment.
Is Sycamore Options Regulated?
Sycamore Options is NOT regulated. The broker is operating from Romania but we don’t find its name registered with CySEC or any other regulatory authority. We knew it straight away. The very first time we visited their website, we simply recalled another possible scam with the brand name TraderXP. We soon realized that Sycamore Options and TraderXP are the two sides of the same coin. The websites are identical and there is nothing much different between their policies. Even then web content is identical, just the brand names are replaced.
Sycamore Options Complaints
Sycamore Options is linked with another scam broker, TraderXP (that disappeared in 2014). The broker offers nothing significant other than inviting the U.S traders (Only for stocks, not Binary Options).
The withdrawal policy is frustrating. The website suggests that the withdrawal will be processed 40 days after a deposit. This is not the first withdrawal, you’ll have to wait for 40 days for all withdrawals. This is arguably the most frustrating withdrawal policy we’ve ever come across.
Sycamore Options, just like TraderXP, is involved in affiliate marketing promotions. It is not a good sign because the link with Get-Rich-Quick schemes is suggestive of a big scam. We have no reason to trust such trading platforms that are involved in promoting other malicious products and systems.
The support team behaved more like sales staff. They were pushy and irritating. They never knew about your problems and concerns, instead, their objective was to convince you into further deposits.
Sycamore Options Withdrawal
After making a deposit, you had to wait for 40 days before submitting your withdrawal request. Sycamore Options mentioned on the website that there was no fee for the withdrawal processing. The reality was different though! The broker charged $35 for each withdrawal. $5,000 was the monthly withdrawal limit.
The clients had never been happy with the withdrawal processing because it often resulted in pending and denied transactions. The website content talked something but actually, it used to do something opposite to frustrate the traders.
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Is Sycamore Options a Scam?
Oh Yes, Sycamore Options scam alerts are true. The broker has followed the footsteps of its sister website TraderXP. Sycamore Options is yet another disappointing story, especially for the U.S based traders. The broker has its links with Get-Rich-Quick schemes like the Bitcoins Wealth scam.
The website misleads the visitors by making false claims. The reality is hidden and is only revealed when the traders don’t really expect it to hit with such a force, for instance when the traders realize that there is a $35 withdrawal fee. All these things point to one truth that Sycamore Options is one of the most terrible platforms you must avoid.
Our Verdict on Sycamore Options
We DO NOT recommend Sycamore Options or any other platform which advertises an opportunity of making big money in a few days. Such programs never tell you about the risk factor. They show you the lush green fields but hide from you the deep ditches covered by the green grass.
These platforms try to play with your psychology. Obviously, we all love making money and there is nothing wrong with that but we all need to be realistic. It is important to check and evaluate each and every factor rather than getting deceived by these lucrative advertisements.
Lost Money To Sycamore Options? Get It Back!
Since publishing this review we have come across some alarming reviews about Sycamore Options on several 3rd party websites which suggest that many people might have been scammed by Sycamore Options. They have just a 1 star rating on most sites & they have received a lot of complaints about people losing money.
So if you have come here because you feel you have been scammed by Sycamore Options yourself then you should check out our free money reclaim guide which shows you what you can do to get your money back.
The guide is entirely free & it has helped thousands of people to date to successfully reclaim their funds from the hands of scammers & we are confident that it will be able to help you too.
You can get access to the guide by clicking here.
A Better (And Safer) Way To Make Good Money
Here at Stopping Scammers we don’t recommend binary options trading in general because we’ve never seen so much as a single person manage to generate consistent profits from it.
In fact we actually believe that binary options trading as a whole is a big scam… But don’t worry, there are still plenty of legitimate (and better) ways that you can make good money online.
In fact there is one particular opportunity that we have come across which has stood out from all of the rest & has received the crown of our number 1 recommendation for working from home.
You can get access to our number 1 recommendation by clicking the link below:
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