- Can you make use of TorOption or not?
- More about the company
- Registered and regulated?
- The platform that they are using
- Trading requirements
- Many complaints and bad reviews
- Unclear terms and conditions
- Regulators warning
TorOption is one of the forex brokers that you can make use of to start trading. They are just one of many brokers available online. Are they really safe to use, and will you be able to be successful with trading? These are all things that you should make sure about when you are considering using them. There are so many scam brokers out there, that you should really make sure that TorOption isn’t one of these scams. With all this information, you will know that they aren’t the best brokers on the market.
TorOption is a forex and bitcoin broker. This is where the first confusion comes in. Some sites are giving the address as a US broker. Some are saying that they are situated in Majuro Marshall Islands. Which one is really the truth? This is hard to find out, but because they are unregistered, it might be true that they are situated in Majuro Marshall Islands. They have opened their website in 2015.
They have a legit phone number and email address. But this doesn’t mean that they are investigating complaints that are emailed to them.
If you think that you can use TorOption without any problems, then you should think again. They are unregistered, unlicensed and unregulated. Meaning that they are actually the last broker that you should use.
One thing that you should know is that only brokers that are registered and regulated can be trusted. There are some rules and regulations that they should obey when they are registered. And, this is exactly what TorOption isn’t. And, this is why it is really important to know that they aren’t recommended for using.
Another sign that they might not be the best forex brokers to use, is the platform that they are using. MT4 is one of the best platforms and also one of the most recommended platforms to use. However, TorOption doesn’t make use of MT4.
The question now is why aren’t they using the best trader platform that they can find? Maybe because they aren’t legit and a platform like MT4 doesn’t want to be associated with them? There are many reasons why you should make sure about the platform that brokers are using. This is saying a lot about the brokers. And, TorOption isn’t making use of the most reliable and best platform on the market.
When you start using a broker, you need to make sure that you know the trading requirements that you need to meet before you can trade. Most brokers have easy to user requirements. However, TorOption doesn’t.
First of all, they don’t have a demo account that you can use first. And, the minimum deposit that you are allowed to make is $350. The minimum trade is set at $25. Something that you don’t want. You want to have the right to decide yourself what your trade amount is going to be. But, not when you are making use of TorOption. Their fees are high when you are withdrawing your money from their account.
TorOption doesn’t have a good reputation. There are many complaints about them, and really bad reviews as well. Reviews that are stating that you are going to make a mistake when you are making use of them for trading.
If you find only negative and bad reviews, then you need to realize that there might be a good reason why the reviews and complaints are only negative. And, that you might not want to make use of them for depositing such large amounts of money and trade with them.
They are claiming that they have bonusses, but you need to make double sure that you know what their terms and conditions really are. They don’t have really clear terms and conditions, and this can cause some confusion with many traders.
This is why you should really make sure that you know what they are saying in their terms and conditions. And, make sure that there isn’t any small print that might keep you from withdrawing money, or to get the bonusses. Because they are unregulated, their terms and conditions aren’t standard.
This is the most important part. What are regulators saying about TorOption? Just that they are unregulated and really not trustworthy. That you are going to make a mistake by using them as your broker when you want to trade forex or bitcoin. There are a couple of regulators warnings out about TorOption, and you should take it seriously.
When it comes to TorOption, you need to know that there are much better and more reliable brokers out there that are actually registered and regulated. It is really important to make sure that you know everything about a broker before you start trading. The one thing that we have learned about TorOption is that they aren’t regulated and not recommended. And, that it is much better to make use of another broker that is recommended by regulators.