- A risky selection
- Offered assets are quite limited
- Fancy features not appropriate for new traders
- Limited returns
Are you eager to make it big in your trading career? If yes, then you need to make your trading decisions with immense wisdom. The problem at the moment is that the trading world is flooded with trading brokers but most of the brokers are not reliable.
This is why it is essential that you make your trading decisions with immense wisdom. We decided to identify the key brokers that are not reliable so that you do not end up wasting your valuable investment.
We came across GMOption. This broker was founded way back in 2016. Now, the biggest issue with GMOption is that it is not regulated. This can be quite discomforting for a trader. The deposit is about $250 to open up an account with GMOption. However, the risk is greater than perks when you decide to opt for this trading platform.
This platform offers more than 100 assets, but the truth is that this figure is far less in comparison to the assets offered by other brokers.
GMOption offers a feature by the name of Trade idea generator. However, you should not be carried away by the fancy name of this feature. Now, the way this feature works is that it scans the signals from the charts depending on Bollinger Bands, Moving Average or RSI.
This feature may help a seasoned trader, but it may not prove to be useful for a new trader. The reason is that the new traders may not be left in the scanning the chart for signals so there are chances that a new trader might end up making a mistake.
The biggest incentive of a reputed platform is that it caters to the needs of the new and seasoned traders alike. It offers features that can be beneficial for all types of traders. However, this is not the case with GMOption.
GMOption offers a return of about 73% to 76% which is less in comparison to the returns that are offered by other platforms. This is yet another drawback of this platform.
It seems that GMOption does not offer live chat support as well. This is a major drawback because if you do not have access to the support team, then they will not be able to resolve your trading issues when you feel the need.
It is a common quote that discretion is a better part of valour. GMOption does not seem to be an attractive offer for a trader. This is why it is essential that you should not be enticed to opt for this trading platform.
Go for trading platforms that offer potential growth so that you can look forward to success in your trading career. You should indulge in detailed correspondence with the support team so that you do not have any ambiguity when selecting the platform of your choice.
Avoid GMOption and go for a reputed option to get the best results.