Options12 was an unlicensed scam binary options broker connected with the Forex broker Trade12, that recently opened in September 2016. Options12 is owned by Global Fin Services Limited, which is located at Tomimae 5, Tallinn 10145, Estonia.
Their phone number is: +1-888-622-3962 and their email address is email@example.com.
Scam Trading Apps
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Options12 does not allow the use of automated trading systems or robots. In their terms and conditions (section 2 f) they write;
In case the Client is found and proven to be using any robots, spiders, or other automated data entry systems, his/her account will be closed immediately without any prior notice.
This means that even if you start making money with a trading robot like 1K Daily Profit, your account will be closed!
What makes Options12 so popular is their easy to use trading software made by SpotOption. On the trading platform is over 180 different assets available for trading a variety of binary options including popular Forex Pairs, Commodities like Oil and Gold along with Stocks and Markets Indexes.
Options12 give you many types of binary options to trade including: Standard High Low, Pairs, Long Term Options, 60 second and 5 minute options, Ladder Options and CFD trading.
Their trading platform is available in multiple languages including English and Italian. The minimum deposit amount for a new accounts is $250.
Options12 is Not a Licensed Broker
The first item we check when we review a binary options brokers to find out if they are a legitimate or scam broker is a license. If a broker has a license, it should be from CySEC, ASIC, MAS or CFTC. Your country of residence determines which broker is legal for you.
Options12 does not have a license. To see an up to date list of licensed brokers, look here.
The primary reason that investors only trade at a licensed broker, is to ensure they will not have problem withdrawing their funds. On October 26th 2015, FINRA published an investor alert regarding offshore binary options brokers. Read the alert on FINRA’s website here.
Warning from ASIC Australia
“ASIC urges all investors considering trading in binary options to check they are dealing with an entity that holds an Australian financial services licence.”
Did you have a good experience trading at Options12? Please share your review in the comments below.