The broker Ivory Option is functional from Bulgaria. It provides three trading accounts and offers to trade on forex pairs, stocks, commodities, and indices. The minimum deposit required is acceptable however trading conditions like leverages and spreads are missing from the website presentation. Nonetheless, the broker is unregulated with other serious problems. All of them will be critically analysed in this Ivory Option review. Please pay close attention to every detail given below and read the full Ivory Option review here.
About Ivory Option:
The provided three accounts are namely Novice, Individual, and Executive. The initial deposit required for basic Novice account is $250. This initial deposit is according to the current market situation and traders will not be offended by it. The trading assets include 12 currency pairs, 7 commodities, 20 indices and 19 stocks. However, cryptocurrencies are not offered. The broker Ivory Option’s ownership belongs to Arya Group Ltd situated in Bulgaria. It also claims to have offices in counties like the United Kingdom, and South Africa.
Nevertheless, the brokers operating from the European Union must be regulated by any of the financial regulated like CySEC, FCA, FINMA and others. However, we could not find Ivory Option’s registry at any of the regulators. And it is the first warning.
Furthermore, the local financial body of the United Kingdom the Financial Conduct Authority issued a warning against it. Besides, the Australian Securities and Investment Commission red-flagged Ivory Options. Now we can say that the broker is a potential scam broker.
The critical trading aspects like spreads and leverages are missing from the official website and non-informative brokers always raised as scam brokers. It also provides trading bonuses to its customers. So, what’s wrong in it? The answer is everything. The broker tries to attract as many traders as they can via such bonuses however these bonuses could not be withdrawn until the specific trading volume is achieved. Also, these trading volumes are far from reach and traders lose their investments as well. Considering these many authentic trading markets have banned trading bonuses. The payment at Ivory Option can be done via two traditional methods viz cards and bank transfer. The electronic wallets are not provided and it may turn against the broker. The broker Ivory Option does not support trading on MetaTrader trading terminal.
Is Ivory Option scam or legit?
The broker claims to be functional from Bulgaria however does not have a valid licence and regulation. Trading conditions are unknown and it raises several questions. MetaTrader is not offered to its clients. Therefore, we say that it is a potential scam broker 2020.