Are you keen to take the plunge into binary options trading? However, if you are keen to get success, then it is essential that you opt for the best binary broker. Well, the problem is that many brokers create a lot of hype but have little to offer.
One such broker is Winoptions. If you plan to sign up with this broker, then we suggest that you think again.
The most important thing to look for when signing up with a binary broker is regulation. Now, we checked out the website of Winoptions, and we came across the fact that it is not yet regulated.
The risk factor is always there when you go for a broker that is not regulated.
Winoptions does offer bonuses, but there is a catch. The bonus sounds like a very tempting offer. However, you have to make massive deposits to get hold of the bonus. For example, you have to make a minimum deposit of about $350 to get a bonus of about 60%.
If you are willing to deposit about $500, then you can look forward to a bonus of about 70%.
Now, when we looked through the promotion section of Winoptions, we realized that they do offer risk-free trades. To avail the risk free trades, you have to make a minimum deposit of about $200, and the platform promises that you will get risk free trades worth $88.
Before getting carried away by this offer, you need to know that Winoptions has not specified the number of risk-free trades that you will be able to win. This incomplete information should be enough to make you a bit apprehensive.
If you look through the FAQ section, it does not address any technical queries. The text is generalized and may not answer any explicit questions. Again the About us section misses out on essential information about the founder of the website.
The truth is that all these information matters at the end of the day and you cannot invest your trust blindly in a platform.
We attempted to sign up with the platform, and we were diverted to a new page with the name uTrader. The biggest question that came to our mind at this point of time is that it appears it seems that Winoptions operates with the name uTrader as well.
Any legitimate broker does not operate under two different names.
The website of Winoptions does not explicitly mention any link to open up a demo account although the website does claim to be offering a demo.
If you do not want your investment to go waste, then you should not make a compromise on the credibility of the trading platform. One thing is quite clear from the above-mentioned information, and that is Winoptions may not be the best choice when it comes to selecting binary options trading brokers. Go for a better alternative.