PlusOption was an unlicensed Forex broker, owned and operated by Redfield Markets ltd., located at: 78 York Street, London, England W1H1DP.
Contact phone numbers are; United Kingdom: +44 203 807 0195 and South Africa: +27 10 446 9012. Email address is firstname.lastname@example.org.
You can read more about broker complaints, see here.
Scam Trading Software
WARNING! You will lose your money with a scam trading software, read why.
See popular automated trading software, look here.
PlusOption offers clients the popular and user friendly Spot5 CFD trading software. Like other brokers offering SpotOption, traders can trade CFD’s on Forex, Stocks, Indices and Crypto Currencies. Investing in Bitcoin is becoming popular in 2017, and there are now many automated trading systems that are claiming to be the holy grail for trading.
With CFD trading, the risks are very high, and in many cases, the investor can lose more money than they invested. Traders interested in a bonus from Plus Option will be asked to deposit at least $500. Bonus money is something that many traders do not fully understand because you must have trading volume in order to withdraw your money, and this leads to complaints, read more here.
We see that PlusOption offers 3 account types, the minimum deposit for Mini accounts is $250.
When the scam broker investigator reviews a Forex or Bitcoin broker to see if the broker is a scam broker or a legitimate broker, we check the European regulator CySEC (Cyprus) to see if they have a license. Investors usually choose a licensed broker so that they will not have issues, and they can be sure they funds are protected.
PlusOption is not a licensed broker.
Traders looking for a licensed broker can view a full list of licensed broker here.
Warning from ASIC
“ASIC urges all investors considering trading in binary options to check they are dealing with an entity that holds an Australian financial services licence.”