Fortrade Broker

PowerOption Review

Effective December 10th 2014, PowerOption is Closed.

PowerOption Broker Review PowerOption is a binary options broker that launched in 2013. They are located at 306 Victoria House, Victoria,  Mahe, Seychelles. They are owned by well known AVATrade a CySEC regulated broker license #204/13, and regulated in the British Virgin Islands.

Their phone number is +1-646-335-0303, their phone number in Dubai is ‎+97-14-445-7928 and in Sydney +61 2 8310 4707. Their email address is [email protected].

The minimum deposit for new accounts at PowerOption just went up to $250.

PowerOption uses the MarketPulse platform. Their sites is available in English, German, French, Italian and Arabic. They offer customer support in English, German and Italian.

Is PowerOption a legitimate binary options broker and not a scam broker?

The most important thing we look for when reviewing a binary options broker, to determine if they are a legit broker or a scam broker is very simple. Are the licensed and regulated by CySEC in Cyprus? Do they fall under the MIFId regulatory rules in the European Union (EU)? Are they registered with the FCA in the United Kingdom?

PowerOption is licensed and regulated by both CySEC in Cyprus and financial regulator in the British Virgin Islands.

PowerOption does not allow traders from the United States. If you are a resident of the United States, read our various broker reviews listed on the right.

Like many binary option brokers, PowerOption offers bonus money to new clients. The problem we find with binary option brokers offering bonuses, is that traders do not read the fine print. This leads to withdrawal complaints and false accusations of fraud, Read more.

Here is the bonus details from their website:

• Bonuses apply to new clients that deposit a minimum of $250
• Bonuses are not valid in conjunction with any other Power Option Promotion
• Bonuses will be credited after all verification documents are verified
• In order to receive the bonus, you must execute trading volume of 30 times the bonus balance. For example: if you receive a $500 bonus, the trading volume required for the bonus to be released is $15,000 bonus volume.