OptionWeb Review 2023 – Why You Should Avoid OptionWeb
OptionWeb Review 2023 – Why You Should Avoid OptionWeb

OptionWeb broker has a shady history. Since its first registration in 2012, they were trading under the name Lionsman Capital Markets Ltd. Further along the way, the ownership was transferred to Spot Capital Markets Ltd. Even though both were from Cyprus and regulated by CySEC, they renounced the license.

Is this broker now safe, you can find in this OptionWeb review.

In addition to the above, we strongly advise you not to invest in Victoria Coins, Roi Republic and Trade Capital Markets fraudulent brokers.

Broker status: Unregulated Broker
Regulated by: No regulation (CySEC renounced)
Scammers Websites: Optionweb.com
Blacklisted as a Scam by: MSC (Manitoba Securities Commission)
Owned by: Spot Capital Markets Limited
Headquarters Country: Cyprus
Foundation year: 2012
Supported Platforms: Proprietary platform
Minimum Deposit: $200
Cryptocurrencies: No
Types of Assets: Forex, Commodities, Indices, Shares
Maximum Leverage: N/A
Free Demo Account: Yes
Accepts US clients: Yes

OptionWeb Is Not a Regulated Broker?

OptionWeb trading company ownership was suspicious at best. Both entities were issued a big fine by CySEC. One in 2017 and the other one in 2018, after the transfer of ownership to the current one. The broker was violating the rules of Investment Services and Activities and Regulated Markets Act. Therefore, they decided to voluntarily renounce their license.

That means that traders have lost all protection provided by CySEC as regulator. There are no guarantees for anything that this broker claims. Besides, their website became dysfunctional since then. Practically unusable. To sum it up, the OptionWeb scam broker doesn’t have the authorization to offer trading services since 2019. However, that doesn’t mean they won’t rise back again in a different form.

Even though CySEC is a trusted regulator, they lack some reliability as some Tier 1 regulators, for instance, FCA, BaFin and ASIC. Important to mention that the OptionWeb broker didn’t have any of these licenses through their career.

OptionWeb broker renounced their license. They offer widely banned binary options trading through a shady website and trading platform. There’s a warning from Canadian financial institutions.

Financial Watchdogs’ Cautions

OptionWeb Warning From Canadian Securities Administrators

On top of all, Canadian financial institution has issued a warning against this broker. After numerous reports from their citizens, they decided to collectively raise awareness about this binary options scam.

That statement exists since 2015 and it took almost 4 years to completely shut down the business. That’s why reviews are important to keep traders safe.

OptionWeb Software – Platform Comparison

The broker advertises on its poorly designed website an OptionWeb platform. It’s a proprietary platform with a download option for desktop and mobile devices.

However, the such platform is not reliable as third-party ones like MetaTrader for instance. If you take a look at their platform description you will quickly realize that their company lacks some maintenance.

OptionWeb’s Trading Assets and Instruments

The broker missed one very important instrument group – cryptos. But they have available other 4 major classes:

  • Forex                        CAD/EUR, USD/GBP, AUD/SGD
  • Commodities            natural gas, crude oil, palladium
  • Indices                      S&P 500, AU 200, BE 20
  • Shares                      Amazon, Tesla, Facebook

OptionWeb Countries Of Service

As we can see they were operating worldwide. But mainly scamming traders from:

  • United States
  • Germany
  • Italy
  • France

In fact, many of these countries have very strict rules and don’t like scammers. It’s a wonder how this company existed for so long without any warnings against them.

What Are The Different OptionWeb Account Types?

OptionWeb Account Types

With this fairly catastrophic website, it’s now even hard to find some information. Luckily, we encrypted it and found that they offer 6 different account types. Those are:

  • Started         200 EUR
  • Standard       1.000 EUR
  • Silver            3.000 EUR
  • Gold             10.000 EUR
  • Platinum       50.000 EUR
  • Diamonds     250.000 EUR

However, the only benefit that trader gets from the bigger deposit is a faster withdrawal processing time and more training options.

Can a Trader Use a Demo Account?

On the brokers’ website, there is no information about a demo account. It wouldn’t be the first time we see such a thing.

Especially when a broker is trying to hide some flaws and discrepancies. Therefore, if you want to test their services out you will need to risk some funds.

Terms of Service for OptionWeb 

As for the funding methods the broker accepts:

  • Bank cards
  • Wire transfers
  • Skrill
  • Neteller

Another key point is withdrawal approval. It takes up to 5 business days to process a withdrawal request. That means enough time to find a reason not to approve it.

Leverage, Spreads and Fees

Since this is not regular trading, you can’t expect here leverage and spread. In fact, that would be another irregularity with this broker for sure.

Even though the broker claims not to charge any fees for inactivity, deposits and withdrawals. On the other hand, they may charge various trading activity fees that are not disclosed.

Scammed by an OptionWeb Broker? – We Want To Hear Your Story.

Generally speaking, the only way to raise awareness about suspicious trading activity is by sharing our side of the coin. Let us know what was your case with the OptionWeb broker.

Our specialized fund recovery team can advise you on any further step. If you think you were scammed, you are at the right place. We can start your chargeback process already today.

What Is the Chargeback Procedure?

In general, a chargeback is a simple and safe procedure for professionals to get back the money that was fraudulently taken. In the first 540 days upon card transaction cardholder or merchant can start the process.

Don’t let this swindler get away with your hard-earned money. Our team is at your disposal. No worries, the first consultation is free of charge. Get in touch now.

What Is OptionWeb?

This is a binary options trading company that operates since 2012 mostly in Europe.

Is OptionWeb a Scam Broker?

 Yes. They were fined multiple times by their regulator and they renounced their license.

Is OptionWeb Available in the United States or the UK?

They didn’t provide services to UK traders, but they did to the US.

Does OptionWeb Offer a Demo Account?

As per the broker’s website, they don’t offer a demo account option.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!
However, if you're here because you suspect that your investment isn't in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

Comment link copied