MergeOption (mergeopt.com) is a binary options websites that claims to have “more than 10 years of quality experience in financial services.” They seem to be based in the US. Can you trust them? Or might they be just another binary options scam? This MergeOption review will answer all your questions about this brokerage.
Contact Information and Who is Behind MergeOption?
The published address is 50 N. Laura Street Suite 3400, Jacksonville, FL. 32202 USA.
Their telephone number is +195436100326.
Support email: firstname.lastname@example.org
There’s also a contact form.
Support is available Mon – Fri between 10:00 and 18:00. In a different place they say they “are available 24/7 via phone or email.” In still another place they write that they are available on weekdays from 9am to 6pm and on Saturdays from 10 to 4. Confused? We are too!
They also claim to have a UK office at 42 Upper Berkeley St, Marylebone,
London W1H 5QL, UK. Telephone: +442033899326.
Both of their telephone numbers were reported as belonging to a fake website.
The company name seems to be Merge Option Ltd.
The site doesn’t appear to contain a Terms of Service, Conditions and Privacy pages.
The domain mergeopt.com is registered with ICANN under James Caanary from 21 McCarville Street Charlottetown, Toronto, Prince Edward Island, C1E 2A6, CA. His telephone number is +19025698412. Email can be seen in the below image.
The site was created on June, 2017. Less than two months ago, contrary to claims of being around for more than 10 years. Remember this when you read this next part about regulation.
Merge Option claims to be “a leading binary options broker, established in 2006 as a pioneer in the field of binary options. Fully regulated by the Cyprus Securities and Exchange Commission (CySec) and governed by the European MiFID regulations, Merge Option is the biggest online financial trading website.”
This sentence alone indicates the whole MergeOption operation is a fraud. As we’ve seen, the site was created in 2017. Also, the claims about being regulated are false.
Elsewhere they write that “MERGE OPTION is regulated by the Cyprus Securities and Exchange Commission with CIF license number 3405/16, licensed by the Financial Services Board (FSB) of United States with FSP No. 910612. The company is also registered with the Financial Conduct Authority of the UK with number 709572 and has an established branch in the UK. MERGE OPTION is regulated by the International Financial Services Commission of Belize with License numbers IFSC/60/341/TS and IFSC/60/341/APM. and Financial Commission.”
Wow! Regulated worldwide binary options broker! Really? That’s the dream… Unfortunately, these are all lies. To take just a couple of examples, CySEC license numbers have 5 digits, while MergeOption claim that their license number is 3405/16. Might be a type you’re probably wondering? So we checked all license numbers ending with “/16”. We even searched for the company name. Nothing. They are NOT regulated by CySEC.
They are also not regulated in the US like they claim. No traditional binary options brokers are allowed to operate in the US. Only CFTC regulated exchanges, such as Nadex, are legally allowed to sell futures to US clients. Besides what’s the US FSB? We’re aware of a South African regulatory agency known as FSB. In the US, the regulator is the CFTC. Clearly another big lie.
We won’t bother to check the other claims of being regulated. They lied twice, there’s no reason to assume they will be honest with their other claims…
World Trade Insurance
The person who asked us to investigate MergeOption told us he received an email that he invested with them and started auto trading based on some inputs received from a regulatory organization called World Trade Insurance (worldtinsurance.com). They asserted that “mergeopt.com is regulated and legal for binary option trades platform activity though its has not been officially publicize on investor review but our confirmation proves it will be publicize on the next broker review by the governing body, So they are licences for long/shot term option trade platform. We are confident that meregopt.com has been in compliance with this very important policy with no record of bridging trading terms and we appreciate their compliance with trading directive. Our recent traders questionnaire revealed that majority regulated brokers has bridged the trade governing terms and mergeopt.com is not listed on the complaint record or reported by any trader. Please consider this letter as our official declaration of policy to reaffirm mergeopt.com as a regulated, trusted and secure trading platform to invest.”
We never heard of a regulatory agency called World Trade Insurance, so we had to look into this obviously. We found that the World Trade Insurance claims to be a “leading exchange and insurance firm, offering binary options and spreads. Regulated by the CFTC, the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC) and Central Bank.”
The World Trade Insurance is allegedly located in 601 West Broadway, Suite 390 Louisville, KY. Unless they belong to the United States Post Office Court House and Custom House, which we highly doubt, then this is a blatant lie.
The most interesting finding is about the owner of this site. It was registered on June 13, 2017, just 4 days before mergeopt.com was created. By whom? You guessed it:
James Caanary of 21 McCarville Street Charlottetown, Toronto, Prince Edward Island, C1E 2A6, CA…! Same exact details from the mergeopt.com WHOIS. See below:
Products and Services
Now, there’s seems to be a confusion here about the difference between binary options and Forex. On the one hand, they claim to be a leading binary options broker and to offer “Classic Binary Options from 15 minutes and Turbo Options from 60 seconds to 5 minutes.” But on the other hand, they tell you about their “Forex/ Cfds web- based trading platform” and how they are an ECN broker offering an MT4 connection, 400:1 leverage and spreads.
Wait… could this be the “Merge?” A weird merger of Forex and binary options? Or perhaps it’s just a scam done by not very intelligent people? It’s possible that their MT4 platform can be used for Forex trading, while their Web Trader has both options. As they write, “The terminal can work in Forex and Options modes separately which keeps the interface clean and simple.”
Another very strange statement that we encountered on mergeopt.com is the following:
Beginners can trade binary options with Merge Option just as well as experienced traders. The entire process is fully automated. Binary options traders are aware of their profits in advance — their main objective is to select the correct direction of the market movement. They need to choose from two directions only — up or down.
So this is not only a broker, it’s a “fully automated” system? This is another big red flag right there…
Bronze Account – Designed specifically for novice traders. Minimum deposit of $500. Includes: Exotics spread as low as 7 pips, Leverage up to 1:200, Up to 20% Deposit Bonus.
Standard Account – Minimum deposit $1,000. Comes with Exotics spread as low as 7 pips, Leverage up to 1:200, A Personal Training Coach, 40% Deposit Bonus.
Gold Account – $5,000 deposit. Includes signals, personalized support and 60% deposit bonus.
Platinum Account – $10,000 deposit. Includes a 90% bonus.
VIP Account – $50,000 deposit. Bonus is 120% of your deposit.
Admin Platform – $100,000 deposit entitles you to a 180% bonus.
As we always advise our subscribers, stay away from bonuses and managed account services! Learn why.
Other Services Offered by Merge Option
Merge Option says you can “save time and stay invested for the long term with professionally managed portfolios offered by TD Ameritrade Investment Management, LLC.”
They also appear be offering a Retirement Planning service. Merge Option claims to be able to help you set up and manage your retirement portfolio to help generate income and protect your savings. Basically, a pensioners rip off program?
Deposits and Withdrawals
Deposits (and hopefully withdrawals as well) can be done using a wire transfer, Bitcoin, Skrill, Perfect Money, Neteller, MoneyGram and Western Union.
Merge Option say they have a leading binary options educational center for both beginners and experienced traders. In their Trading Academy, they teach the “right sets of skills to make use of the different tools that enable successful trading.” The academy contains educational videos, an eBook and several articles. Topics covered include risk management, capital and portfolio management, tips for managing emotions and how to trade with right mind-set, binary options strategies, fundamental and technical analysis, how to read charts and much more.
No data is available about their popularity since the site is very new. However, a subscriber of us made the inquiry that led to writing this post. So the site is obviously getting some traffic.
At the time of writing this review, no other MergeOption reviews were available. If you have any information, positive or negative, regarding this brand, please leave a comment below and enlighten us.
MergeOption Review Conclusion
Don’t trust MergeOption. There are many indications that this is a scam, such as lying about regulation, pushing bonuses and account management services (they even target the elderly specifically in their retirement planning service.) There’s no reliable company information and the site seems to have been done in an unprofessional manner.
We were also able to discover that the domain MergeOption.com which now no longer exists was reported as fraud with the same telephone numbers provided by Merge Option.
Until we have any indication that this is a legitimate site, we must let you know that we suspect that Merge Option is a possible SCAM!
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