BossCapital is a relatively new binary options brokers which has been operating since 2014 and which offers binary options on commodity futures such as Gold, Platinum, Corn, Coffee, Sugar and many more. They also offer Forex traders 60 second, 2-minute, and 5-minute options on major and exotic currency pairs. In order to begin trading on the platform, you’ll need an initial deposit of $200. The company was formerly owned by Cheshire Capital Ltd before it was taken over by Melnic Group Ltd in 2017. The main advantages of the platform are its user-friendly interface and highly accessible design, its straightforward trading process, and the educational resources it provides for its traders. It also offers a lot of choice for its customers, as there are just under 200 assets available for trade. Their customer care team is multilingual and can assist customers in more than 10 languages, and their website is suitable for both beginners and experienced traders. This is all very positive and seems to show that this platform is a great option for binary options traders. However, no BossCapital review would be complete without addressing concerns about scams and licensing issues – we’ll take a look at this in the next section.
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Is BossCapital A Scam? Is BossCapital Regulated?
BossCapital is not a licensed broker and certain regulatory agencies warn traders against using unregulated platforms such as this. Indeed, these concerns may be justified, as many traders have voiced complaints against them or claim to be victims of a BossCapital Scam. It’s difficult to verify the authenticity of complaints such as these. However, it has gained a negative reputation for offering poor advice on investments, causing issues with withdrawals, and having technical issues on the platform. Another common complaint that seems to come up a lot is in regards to the bonus money. Customers complain that this bonus money is locked in, and can’t be withdrawn until the customer trades 40 times the value of the bonus. These customers feel that the brokers misrepresent the bonus by failing to mention the withdrawal limitations during initial conversations, and then subsequently use it as leverage. The brokers are also accused of making false guarantees to coerce customers into depositing more money and making trades which lose. However, it’s always worth bearing in mind that customers are more likely to share negative experiences than positive ones. Therefore, these complaints might not be representative of the platform as a whole, if you want to take the risk.
Alternatives To BossCapital
Traders can no longer take advantage of this platform as BossCapital has currently ceased trading from their website. However, there are plenty of other brokers on the market. Our recommended alternatives are IQ Option, Markets.com review, and Nadex.