365BinaryOption is owned by Fintech Software Inc via Oproserv Limited. Registered on the following address: 2 Old Brompton Road, South Kensington in UK London SW7 3DQ. This is a not regulated broker. Their telephone number is listed as 44 20 3670 1522. They can also be contacted through live chat and email at [email protected] They offer their services in the UK, Australia, Ireland and South Africa where regulators say they are not welcome. Fintech Software Inc is a Vanuatu registered and headquartered company and subject to a very limited regulation. Their registered office is at Trust Company Complex, Ajeltake Road, Majuru, The Marshall Islands MH96960.
Is 365BinaryOption a Scam?
365BinaryOption is a good looking broker built on the Techfinancials platform. It works hard to look legit but based on the complaints I would cannot confirm that 365BinaryOptions is not a scam. Why? Because they use all the same old tricks to get your money and then keep you from getting it back, even if you win your trades and show a profit. Traffic is still fairly strong with this broker, so far I think there are better options.
Editor’s Note – Why Does 365BinaryOption Suck in 50 Words
This broker sucks because they aren’t regulated, they are openly operating in countries where I know regulators do not want them and they don’t get good comments. This is not the broker you are looking for, move along, move along.
Why Doesn’t 365BinaryOption Suck in 50 Words
365BinaryOption is powered by Techfinancials, a good platform provider that offers a vast variety of expiry choices. The broker also offers a high payout percentage and VIP account holders can get even higher payouts. This means you need to win less trades in order to remain profitable.
Should I Open An Account With 365BinaryOption?
What’s with all the obsession with 360/365? This makes me want to turn, not 360 degrees but 180 and leave okay, enough with the name bashing. Perhaps it’s hard to be creative when it comes to finding decent names, let’s see how they do as a broker.
The platform is Techfinancials which offers many different expiry choices as well as a huge asset index. It also allows clients to close their positions early in order to secure profits or cut their losses short. Overall the platform looks nice and there is a comprehensive education center worth checking out. There are several VIP accounts available which offer higher payouts and special lessons where you learn more about binary options trading through your account manager. If you want to know more about this platform I suggest you check out 24Option instead.
Check out our Recommended Binary Options Brokers
This broker gets a few complaints. The range is vast with one recurring theme, you can’t get your money out. It might be a bonus, it might be a signal service, it might be an account manager but whatever the reason your money will be lost to bad trades, tied up with bonuses or just not delivered to your account after you ask for withdrawal.
365BinaryOption Regulatory Warnings And Announcements
The Australian Securities & Investments Commission (ASIC) has added Oproserv Limited to their warning list, saying that “ASIC advises this company could be involved in a scam”. They also mention that the business has made unsolicited calls or sent emails about investing, or financial advice. The warning was issued through their consumer website, MoneySmart. Source: ASIC Warning
The bonus at 365BinaryOption is standard for a scam broker. You get a first-time cash match up to 100%, depending on your deposit size, with a turnover volume of 40X. The kicker is that if your bonus is more than $4,999 your turnover goes up to 60X and if it is more than $9,999 it goes up to 80X. OUTRAGEOUS! Once taken no withdrawals can be made until the turnover is met without canceling the bonus and any profits derived forthwith.
Based on the comments you won’t get your withdrawals but anyway, this is how it is supposed to work. You have to request in writing to their finance department and then they will approve it. At that point, up to 3 days after they receive your request, it will be transferred by wire or credit card, no other methods, to your account. It takes up to 10 business days for that.
User Friendliness 15/20
The Techfinancials platform is user-friendly and there is a full education center loaded with videos for more help regarding many subjects. On the downside, the platform is only available in English.
No. of Assets and Expiry Time 17/20
There are 25 indices, 11 commodities, 31 currencies (including Bitcoin/USD) and 50 stocks that add up a total of 117 assets. Expiry times are; short term as in 60, 120 and 300 seconds. The regular high/low expiries are from every 5 minutes and up till end of day, week and month. Touch and boundary options are also available.
Commissions, Support and Effective Return 13/20
The payouts are fairly high and you can receive higher payouts but that requires a higher deposit.Chat is available but unfortunately requires sharing your name and email address first.
Deposit, Payment and Bonus 10/20
There are not that many options available for deposits and withdrawals, except credit card and wire transfer. Bonuses are cleared once a volume of 40 times the bonus has been generated. However, if your bonus size is above $ 4999 and $ 9999 you need to generate 60 or 80 times the given bonus amount!
Website Extra’s 13/20
The education center offers many informative videos that don’t require a sign up to watch.
365BinaryOption Overall Rating: 65/100