First of all, this broker is an unregulated broker and we always advise to using regulated brokers only. BloomBex Options is a broker offering trading in binary options. Established back in 2009, it has been around for a long time and was actually one of the first brokers to enter the online market. It supports the well known and reliable SpotOption trading platform, which is constantly being improved.
That means it’s user-friendly, stable, and easy for customers to use. It also provides a mobile app for Android and iPhone, which offers all the same options as the desktop version. This broker provides a huge scope of tradable assets, covering everything from Forex to oil and gold, with special features that include Rollover and Double Up options. The Rollover tool can extend the expiry of a trade until you are sure of a good outcome, and the Double Up option can create a further trade with favourable trade conditions.
Trading One Touch options are available at weekends, giving you the opportunity of investing in an underlying asset at a predetermined value. The platform also enables you to make short-term trades in 30, 60, and 120 second expires, make multiple predictions on the same asset, and trade in pairs. These tools are embraced by customers as they allow more space to make a healthy profit. They also offer a broad range of benefits including a personal account manager, free daily market analysis, a variety of trading tools and a 30% bonus. Read on it this BloomBex review to see if there are any pitfalls.
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Is BloomBex A Scam? Is BloomBex Regulated?
Owned by BloomBex Limited, the company is located in the Commonwealth of Dominica. Their website is available in 10 languages including Arabic and Turkish, and they are one of the very few brokers accepting PayPal as a deposit option. They are not regulated by CySEC or the FCA in the UK. The company has been blacklisted by some national and international regulators, fueling speculation of a BloomBex scam.
For instance, the Ontario Securities Commission (OSC) issued a warning in 2017 about the company for unauthorized options trading in Canada. They offer multiple options, together with risk-free trades that have much better terms and bigger upper limits than the majority of other brokers. Though, you should only trade with regulated brokers. It’s always important to bear in mind that not many brokers can provide perfect solutions for all the different investor requirements. For this reason, it is a great idea to read some reviews about the broker first to ensure that it meets your needs.
Some of the solutions are prepared with specific customers of geographical areas in mind. However, most of them are intuitive, and there is a section with educational materials and tools and 24/7 customer support.
Alternatives To BloomBex
Binary options are growing in popularity, so the possibility of stumbling upon a scam is far greater today. It is imperative that you choose a trusted broker who works for their customers. This can be quite a complicated process with so many platforms, features, and terms to consider. Using our review directory can help you to speed up the process and compare options easily.
You can also refer to the latest IBD’s sixth annual Best Online Brokers to check out their rankings from the responses of thousands of readers. If you decide that BloomBex is not for you, then Olymp Trade, IQ Option and Ayrex are among the top ten options.