RBOptions promises to provide risk-free investments to its online users. But is this binary options trading broker capable of fulfilling what it has pledged? Or is RBOptions just the next lousy scam?
Our inquiry into the matter tried to find out the most thorough and extensive data available on the web about RBOptions. The results follow below. But as this binary investment broker is still quite new, there is close to no accessible information.
More facts need to be gathered for us to recommend RBOptions as legit. Or deem it as an investment scam. Until then, we advise all our users to turn to a proven to be trusted and reliable binary trading broker. View our preferred selection of the BEST legitimate and most respectable binary options brokers and check up their full review so that you can enjoy a more safer trading experience!
Because we were not able to come up with more trustworthy data on RBOptions, we cannot confirm that investing with this binary options broker is recommendable. You can Trade with Trusted Broker OR Sign Up with one of the approved and safe Binary Options Brokers.
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RBOptions was established in Canada in 2012 and since then they have made good attempts to attract customers to their trading platform. They offer webinars, demo accounts, education and a variety of tools to their clients, but is this broker really legit? It appears that they have put in a fair amount of work to make a great impression, but when we went undercover to learn what exactly a new client experiences on their platform, we found some disturbing facts. In this honest review of RBOptions, you will get to know whether or not you should choose this broker.
Is RBOptions A Scam?
This broker has been in operation for almost 4 years now and they are still not regulated. It doesn’t make sense how this is even possible. If they were so old, they would have obtained their licenses and permits by now.
So what is it that is keeping RBOptions from becoming regulated? We really don’t know. Another thing is that when we were looking for reviews from genuine traders, we found a lot of negative comments. This basically shows that the broker has failed to meet the expectations of many traders. While it is true that a number of complaints arise as a result of misunderstanding of traders, many also arise due to the failure of the broker to help the traders achieve their financial goals.
Trading Platform, Account Types & Bonuses
The broker operates on the TechFinancials trading platform. There is no need to download and install any software since everything is entirely web based. There are about 70 assets to choose from which includes currency pairs, commodities and stocks. The different options for trading include Ladder, 60 Seconds, One Touch, Pairs and Call/Put. There are some extra features available which includes roll over, double up and early sell out. The broker claims to offer a payout of up to 88% in addition to a 10% rebate on the losses occurred during trading. But, during the testing we did not achieve results that gave payout of anything even close to 88%.
There are various levels of accounts available at RBOptions. You can choose an account type based on how much you are intending to invest with the broker.
The first type of account is the Silver Account which can be set up with a minimum deposit of $500. A sign up bonus of 25% is available with this account.
Their Gold Account can be opened with a minimum deposit of $2500 and you can qualify for a welcome bonus of 50% with this account.
The third type is the Broker Account which starts with an investment of $10,000. The welcome bonus can go as high as 80%.
Lastly, they offer a VIP Account for which you must add at least $100,000 into your account. Traders can get 100% matched bonus with this account.
Minimum Deposit and Withdrawal Procedures
Payment methods at RBOptions include major credit cards, bank transfer and Skrill. They have mentioned that the minimum deposit they accept is $250, but to open their Silver Account which is the lowest level, you must add a deposit of $500 which we think is pretty high for industry standards. The withdrawal processing times depend on the level of account you hold. If you hold the VIP account, you can get your money within 24 hours provided that you use Skrill as your withdrawal option.
For others, they have mentioned that they take up to 4 days for processing your funds. The first two withdrawals are free every month and additional withdrawals incur a fee of $30 each. A complicated verification process is also initiated before they send your money to you.
In many cases, traders have failed to receive their funds and this is one of the common reasons for their complaints. RBOptions have not outlined their withdrawal and bonus procedures clearly and when traders try to get their money, they face problems because they are told that they haven’t met the minimum trading requirements after they accepted the bonus.
The level of customer support that a broker offers can be a game changer when it comes to deciding whether to go with a broker or not. It is one of those important features that every trader must look at when choosing a broker. Unfortunately, RBOptions doesn’t offer an excellent customer support service. It is not easy to get in touch with them although they mention that they are available 24/7. Toll free numbers are available which are busy most of the time. Other means of communicating with them include email and live chat.
The RBOptions binary options trading broker is one that can not be determined conclusively as a legit or fraudulent one.
Still, there is a very fair chance that it is a scam. We were not able to find out much available data about it online, so the matter remains dubious. What we can advise traders is to opt for a binary broker that is proven to be reliable and trustworthy. There are some very solid ones.
But it would be best to not execute any trades with RBOptions. It has yet to build a reputation.