Why OptioNante Sucks In 50 Words
The first thing that pops up is the low number of trading assets: 3. It’s a mystery how a broker can survive with only 3 assets and who would sign up to trade such a limited asset basket. Apart from these 3 assets, OptioNante also offers a few currency pairs (fiat) such as EUR/USD, GBP/USD, USD/JPY, and more but all of them show 0.0% payout, which can mean only 2 things: either you cannot trade them or you will get zero USD back even if you win the trade.
Why OptioNante Doesn’t Suck In 50 Words
The payout for Bitcoin / USD is 90%, which is huge. The other two crypto pairs have a payout of 75%, which is also high because a lot of brokers offer 40% – 60% for this asset class. Other than this, OptioNante is a low-tier broker.
Is OptioNante A Scam?
The articles were praising their trading features, most of which we couldn’t find during our visit on their platform. One article mentioned that OptioNante donated 10,000 masks to Singapore, but no additional information was given. Also, there’s no way of actually checking the veracity of the claim because the article did not identify the institution where the masks were delivered. Did they just drop the masks at Singapore’s city limits? Or maybe it’s just an article written to make them look good, without roots in real facts.
The bottom line is: we cannot say for certain whether OptioNante is a scam or not but we certainly recommend you stay away from all brokers without proper regulation and even more so, stay away from brokers who don’t have T&Cs and don’t show the name of the owning company.
Should I Open An Account With OptioNante?
OptioNante is an unregulated broker launched in 2018 that offers binary options trading on 3 cryptocurrencies: Bitcoin, Ethereum, and EOS, all paired against the US Dollar. The owning company is unspecified and the Terms and Condition document is missing. The company is apparently located in St. Vincent and the Grenadines.
Considering a large number of regulated and trustworthy brokers, we don’t see a single reason why you would risk your money with a broker who is as transparent as a brick. The trading platform itself is clunky, with very few features and apparently, it was built in-house because we haven’t seen it before (it certainly isn’t a recognizable “face”). There is no possibility of adding any type of technical indicator but you can switch between area, line, bar, and candle chart if that’s of any help.
The trading itself is limited to binary options, although they have a small disclaimer on the home page that informs that binary options and CFD are available on the site. We couldn’t locate said CFD trading or any other information about it so we must assume it doesn’t exist. Also, one of the online articles we mentioned earlier reads: “The real excitement lies in the launch of a product that will guarantee a specific amount of profit to be gained, thanks to investments made by special VIPs”. In online trading, there is no guaranteed profit and that’s a fact. Anyone saying otherwise, either doesn’t know what they are talking about or they are lying and trying to lure people in.
As for account structure: there isn’t any. The minimum deposit is not specified, the minimum withdrawal is not specified and the methods are not specified, although they claim to “support hundreds of deposit and withdrawal options, including Ethereum”. All we could find was a page where we could enter our credit card details to make a payment. Obviously, we didn’t.
As for education material: there isn’t any. But this is a broker that writes on the home page: “Winning You are too easy to win and too easy to win” and “Click DOWN to see the curve up and UP down. It’s too easy?” These are just a few examples; the website is full of such “gems”, so I wouldn’t trust anything they would want to teach me anyway.
So, should you open an account with OptioNante? You tell us. After reading thus far, do you really think OptioNante is a good choice? Or maybe you could find better brokers?
Although we cannot verify their address, OptioNante lists this contact information: 2nd floor, Plutus.pro, Stoney Ground Road, 5Q6C+8G, Kingstown, St. Vincent, and the Grenadines, registration no 22874 IBC 2018. They can be contacted at email [email protected], [email protected], and a few other similar email addresses.
Apart from the few marketing articles mentioned above, there is absolutely no information about this broker online. Nobody is talking about them and nobody is complaining. According to the website they launched in 2018 so if that’s true, they’ve had enough time to gather clients who could then provide feedback. But seeing zero feedback could mean 2 things: either they were launched after 2018 or people are simply not interested and nobody is trading with this broker.
There is no info about the processing time, methods, or minimum amounts required for withdrawal. In fact, the whole Withdraw tab is empty. You click on it and you get an empty page. Support was unreachable and the Terms and Conditions document is missing. Bottom line: zero info about withdrawals. Use caution!
Huge payouts for Bitcoin binary options. Cool, but will I be able to withdraw anything from this broker? Also, just 3 tradable assets??? That’s an extra too!
OptioNante Overall Ratings
User Friendliness 13/20
The website is available in only 3 languages (English, Chinese and Japanese). Information is poorly organized and they have serious problems using the English language; also the site stays mainly in English even if you switch language. The trading platform is overly simplistic but that doesn’t make it user-friendly; also, it lacks even basic features. Mobile platforms are not available. It is unclear whether U.S. clients are accepted or not.
Number Of Assets And Expiry Time 7/20
The broker offers binary options on 3 cryptocurrency pairs: BTC/USD, ETH/USD, and EOS/USD. They list a few fiat currency pairs but the payout for all of them is Zero, which means they are non-tradable (unless you want to lose the invested sum whether you win or lose the trade).
The expiry times are 1, 2, and 3 minutes for the Short Term options and 5, 10, and 15 minutes for the Long Term options. It’s almost a joke to call 15-minute options Long Term, but apparently, that’s what OptioNante calls them.
Commissions, Support And Effective Return 11/20
OptioNante doesn’t specify any of the commissions they charge. It would be wise to ask for written information from them, in case you want to open an account with this broker. Live chat support is not available (the chat button exists but nothing happens when you click on it). They list a few contact emails and they have a support ticket system.
Returns are high: 90% for BTC/USD and 75% for ETH/USD and EOS/USD. All the fiat currency pairs they list (EUR/USD, USD/JPY, etc.) have a 0.0% payout. This means that if you invest $100 and you “win” the trade (you predict the direction correctly), you will get back $0.0. Not a good deal in my book!
Deposit, Payment And Bonus 10/20
There is no info about minimum deposit and although they say they support hundreds of payment methods, the only one available is a credit card. As for withdrawals, the entire page is missing and we couldn’t find any information whatsoever. OptioNante doesn’t offer a Bonus or at least they do not talk about it.
OptioNante Extras 10/20
The 90% payout for BTC/USD is very high for the industry but on the other hand, we’ve never seen a broker with only 3 tradable assets and no information about key features. Also, we’ve never seen a broker with a 0.0% payout!
OptioNante Ratings: 51/100