CloseOption is an unregulated option investment brokerage that has illegally been accepting United States based day traders. Incepted on November 26th, 2015, Closeoption.com has been miraculously able to avoid detection as a shady investment brokerage and has been slowly fleecing investors out of their hard-earned cash. To learn more regarding this illicitly operating trading platform we encourage you to continue reading onward.
Close Option is structured as an online trading platform specializing in option based investing. Supporting a wide variety of underlying assets, Close Option supports currency pairs, cryptocurrencies, indices, stocks and commodities. Payouts are allegedly as high as 95% for in-the-money investments while a number of trading contests are held on a reoccurring basis to increase investor engagement.
At first glance, CloseOption appears like it would be a legitimate trading brokerage with an intuitive appearing platform. Apart from their platform lacking regulation and them illegally accepting traders from restricted demographics Close Option overall looks like a genuine brokerage for online investors.
However, it isn’t until one investigates further into CloseOption that they realize that their platform is unregulated and that their personal and financial information are at risk.
Organic Tech LLC
According to the CloseOption About Us page, closeoption.com and all its related items belong to the Organic Tech LLC company in Georgia and was allegedly registered on August 8th, 2013 under number B13080768. To add, allegedly CloseOption’s forex and option trading activities are permitted by the license with number B 2-08/3647, dated August 18th, 2017 and issued by the National Bank of Georgia.
However, when you go to search “Organic Tech” in the Georgia Corporations Division business directory, no relevant search results are generated. The only results we encounter would be two dissolved corporate entities known as Applied Organic Technologies, LLC and Organic Technologies, Inc, both of which have no relation to CloseOption.
Furthermore, CloseOption reflects the following addresses in relation to their fictitious entity Organic Tech LLC:
Avsallar, Admet Erdogan Sk,
P .K 07410
Alanya, Antayla, Turkey
Legal Office Address
Vake-saburtalo district, Al Kazvegi ave.
Closeoption.com was a privately registered domain that was created on November 26th, 2015 through the NameCheap, Inc registrar. According to SimiliarWeb, Closeoption.com reflects a global rank of 242,489 with a US rank of 52,249. Their latest market intelligence report suggests a 15.42% decrease in incoming visitor traffic while approximately 73.23% of their traffic originates from US-based day traders.
Close Option has many the same trading features that we encounter when investigating into forex brokerages. Common trading features such as stop loss, take profit, different trading styles with different expirations along with integrated charting solutions. Other features included would be a mediocre trading academy, a minimum deposit of only $5 along with the incorporation of cryptocurrencies into their platform via pair options.
Deposits & Withdrawals
CloseOption accepts a wide assortment of payment methods when it comes to registering and depositing with their brokerage. Among the supported payment methods would be PayPal, Wire Transfer, Perfect Money, WebMoney along with the following cryptocurrencies: bitcoin, dash, ethereum, litecoin, monero, ripple and ZCash.
Investors are required to verify their account prior to executing a withdrawal with one of their preferred banking methods. Once an account has been verified, withdrawals allegedly take up to 3 business days to be processed then another 2 to 7 business days to be received.
Close Option operators can be reached through live chat, their email [email protected] or their telephone number +44 203-290-2097. While it should be noted that their customer staff are not quite prompt or helpful, CloseOption can also be reached through their following social media outlets Facebook, Twitter, Google+, Instagram and YouTube.
Is CloseOption a Scam?
Close Option does not come across as a dependable investment brokerage due to their lack of regulation and licensing. To add to the untrustworthiness, CloseOption evasively portrays their corporate information with a business entity that does not appear to be active while their disclosed corporate addresses are unplottable. One last indication to verify that CloseOption is not legitimate would be how they incorporate stock images as phony testimonials.
CloseOption Review Conclusion
CloseOption is not a trustworthy or regulated brokerage that should be considered by investors wishing to day trade with a legitimate and proven platform. Misleading day traders into believing they are overseen by an active corporation, lacking regulation while using stock images to serve as fictitious user-testimonials is dishonest and just goes to show that CloseOption cannot be trusted.
Verdict: CloseOption is a SCAM!
Blacklisted Site: closeoption.com
We invite you to share any insight or experiences you may have with CloseOption in a comment below!