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SpotOption has attracted thousands of traders and this platform enabled scores of brokers to kick-start impressively and same held true for UKOptions, yet another broker based on the reliable SpotOption platform…
UKOption offered a long list of assets including forex pairs, indices, and over 100 stocks. The platform facilitated the clients with various options starting from 60-sec and up to 5-minutes. Extended options started from an hour and went up to 6 months. It offered from 70% to 85% payout.
Did this broker really help traders to gain some profit? Or is UKOption a scam that just disappeared like dozens of others? Let’s have a look at some important facts about another broker that is no more available.
UKOptions Review Summary
Cost: $250+
Recommended: No (See Our Top Ranked Legit Program Here)
Rating: 0/100
Summary: UKOptions was one of the biggest binary options scams around & whilst it’s name suggested it was operated from within the UK, this was never true – but sadly it still tricked many people into trading with them. The company has since closed its doors & now no longer accepts new traders (which is a good thing) but if you have already lost money to them then keep reading to see how you can recover it.
Quick Navigation
We took an in-depth look into UKOptions & as a result this review will likely become quite detailed as we uncover all of the information… So to make things easier for you we’ve put together some quick navigation links below which you can use to jump straight to the specific information that you came here looking for.
- UKOptions Background
- Is UKOptions Regulated?
- UKOptions Complaints
- UKOptions Withdrawal
- Is UKOptions a Scam?
- Our Verdict on UKOptions
- Get Your Money Back From UKOptions
- A Much Better Way To Make Money
UKOptions Background
Smartech Ltd. owned and operated UKOptions and the website mentioned the following contact information:
- Cedar Hill Crest Villa, St. Vincent and Grenadines.
- Phone. +44 203 695 3300 (London)
- +27 21 300 9800 (South Africa)
Some traders claim that the ownership of UKOptions was later shifted to WorldWideTech Ltd. and the platform was changed from SpotOption to Spot2. We could not any reliable evidence to second the claim.
Considering the number of assets offered by UKOptions, it could be true that the broker was using Spot2 because it is an advanced version of SpotOption and it offers more assets as compared to the original version.
Is UKOptions Regulated?
UKOptions was NOT regulated. It just managed to attract traders by offering the SpotOption platform with more assets than any of the brokers we’ve reviewed. The prefix ‘UK’ also played a psychological trick.
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The fact is that the platform was not even regulated by any government or private authority. Sometimes the names have enough power to carry the potential clients away from what they should have been considering. Obviously, the traders failed to consider the importance of the legal status of the broker. They simply got carried away by the name and the added number of assets. We really don’t see anything significant about UKOptions that could have attracted traders. It is all about using high-end marketing tactics which directly affected the client’s thought process.
UKOptions Complaints
UKOptions is a classic example of impressive affiliate marketing. The broker encouraged its existing client’s to bring in more traders to earn affiliate commission. This broker focused on upselling. The clients claim that the representatives sometimes gambled with their money by investing 100% of the funds available in their accounts. On top of that, they never consulted the trader before making such a big move.
In addition, the clients also argue that the reps continued to make calls to pressurize for further deposits. UKOptions processed the withdrawal only when it was the case of initial capital because the Credit Card easily facilitated the cash-back. One trader claims that his GBP500 withdrawal request is pending for the last 6 months.
UKOptions Withdrawal
Whether or not UKOptions processed the withdrawal, they did however state some basic terms to complete the formality. The broker entertained Credit Card, e-wallets, and Wire Transfer in this regard. You could withdraw via Skrill, CashU, Neteller, without having to pay any fee. The broker charged $25 for a processing withdrawal via wire transfer. $100 was the minimum withdrawal when trading with UKOptions.
Is UKOptions a Scam?
Yes indeed! UKOptions scam is a typical broker’s story that emerged with exceptional marketing tactics, used affiliate marketing, and upselling strategies, brought in hundreds of traders, and then decided to reveal its true colors. We have also found that VisionBinary is also linked with UKOptions. It is possible that the same scam artist has been supervising these platforms.
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Our Verdict on UKOptions
We Do NOT recommend UKOptions, VisionBinary or any other broker that is trying to convince the clients to bring in more traders. Some brokers play the same trick in a different way by holding the trader’s money while urging him to deposit more. The trader looks for another investor and this is how the platform grows. UKOptions used affiliate marketing tactics by promising commissions against successful referrals.
The whole concept revolves around the psychological gameplay. These scammers manipulate the investor’s quest for quick and big returns. This is a huge weakness that leads an investor to the grave ditch. It becomes virtually impossible to get your money back. All you can do is to forget what’s gone and protect what you have with you.
Get Your Money Back From UKOptions
Did you already fall victim to the UKOptions scam prior to coming to this review? We’re obviously very sorry to hear about that, but the good news is that you’ve landed in the right place as we can help you get it back.
Here at Stopping Scammers we’ve exposed MANY scam binary options brokers & frankly we got sick of them taking peoples hard earned cash & getting away with it, so we put together a free money reclaim guide.
Our guide shows you – and other victims of binary options scams exactly how they can reclaim their lost funds & it is laid out in a very easy to follow step-by-step format.
So if you have lost money to UKOptions we highly recommend you check it out as it has helped thousands of people to date to successfully reclaim their lost funds from binary scams.
You can get access to the guide for free by clicking here.
A Much Better Way To Make Money
We hate binary options trading here at Stopping Scammers & we hate binary options brokers even more – but the good news is that there are still many other ways you can make money online.
After carrying out literally hundreds of investigations into different make money online systems we have come across a whole bunch that actually worked… However there has been 1 in particular that has stood out from all of the rest.
This 1 particular opportunity we came across was so good that we actually gave it the crown of our number 1 recommendation for working from home – and you can access it for free by clicking the link below:
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