No1Options claims to be located in London, UK, and states itself to be one of the relatively new yet the best binary options trader available in the area. Their website provides us with some information about the other places they work in. Apart from all boasting that they have done on their website, there is some other information that we are going to review today.
No1Options claims to be working in Australia, Poland, Germany, Hong Kong, Norway, and New Zealand. They offer a variety of trading options such as pairs, 60-second options, 3-minute options, 5-minute options, monthly options, one-touch options, and 2-minute options. Despite working in so many countries with such an array of trading options, this company does not hold a license approved by any of the regulatory authorities. This may sound a bit skeptical but upon checking on the websites of all the regulatory authorities, we found out that No1Options is not regulated by any of them and thus it is an unregulated broker. We advise our readers to always take special care while looking for a new trader. Strict parameters are often set by the regulatory authorities in order to protect or safeguard the citizens of their country. The trade brokers who wish to trade in that specific country are legally required to apply for the license and comply with the laws set by the regulatory authorities. Suffering from the failure of which, the broker companies are not given a license.
No1Opions offer assured returns between 70% to 80%. This is much greater than what regulated trade brokers assure. The licensed brokers will never assure or promise such a huge return as the regulatory authority doesn’t allow that. The minimum deposit offered by this company is 100 dollars. Even though it is less than what most scam brokers demand, it is still high. Taking into consideration that the company does not possess a license, the minimum deposit charged is higher than what the regulatory authority allows. The website is available in a variety of languages such as English, Italian, German, Russian, Spanish, Portuguese, and French.
Is No1Options a Scam or Legit?
One of the main disadvantages that the company has is that it does not have a Demo Account. A Demo Account is one of the mandatory requirements by the regulatory authorities as it helps the customers in getting acclimatized with the trade market and the working of the company as well. Apart from the absence of a demo account, the company offers several trading account options. The Mini Account requires a minimum of 500 dollars to be activated. The Silver Account demands 2500 dollars while the Gold Account demands 5000 dollars. The bigger accounts are called Personal Banking Accounts and the VIP Accounts. The minimum deposit required for these two is 10,000 dollars and 50,000 dollars respectively. Readers must note that these amounts are unrealistic for a trading company to ask for at this stage. In conclusion, No1Options is a complete scam and, we strongly advise all our readers not to trade with this scam broker.