Bad Brokers

TORoption Review

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TORoption is an unlicensed Forex & Crypto CFD broker. This Broker is Out of Business!

For complaints and withdrawal problems, read this.

TORoption Review

TORoption started out as a Binary Options broker that offered their day traders the simple and easy to use SpotOption trading platform. In December 2017, that discontinued offering binary options offering and moved to focusing on on CFD trading. They are now using the Proftit trading platform.

With all the interest in Bitcoin and Crypto Currency, their trading platform has listed underlying assets of Bitcoin, Litecoin, Dash and all major crosses associated with bitcoin. In total, there is available over 100 products for trading, including popular Forex pairs, Commodities, Market Indexes and Stocks. When checking the spread on BTC/USD, we noticed it was $400 wide. Leverage was either 1:2 or 1:3. Minimum deposit for a trading account at TOR is the standard $250.

It is difficult to discern if this broker is still active as their social media accounts have not been updated since 2017.

TorOption Brokers Trading Platform
TorOption Brokers Trading Platform

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Trading Bonus Money

We see that they are offering new traders who deposit $250 a 10% trading bonus.

If you are interested in taking advantage of the bonus, it is important for you to read and understand their terms and conditions, or you will have complaints. They require you to make trades in excess of 20 times your deposit plus bonus amount, before you can withdraw your money.

Is TorOption a Legit Broker?

No, TORoption is not a licensed broker.

They are owned by Smart Choice Pro Ltd, they are located at: Trust Company Complex, Ajeltake Road Ajeltake Island, Majuro Marshall Islands MH 96960. Their phone number is +44 203 519 2667, and their email address is [email protected]. Official website was TorOption.com and is now at: https://www.toroption.co.

Scam Broker Investigator researches and compares CFD brokers to determine if they are scams or real brokers, by checking for a local brokers license. The best brokers get their license from the FCA in the United Kingdom, or from ASIC in Australia.

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Have you been trading binary options at TORoption? Please share your feedback with other traders in the comment section below.