The number of trading platforms and brokers online is constantly increasing, and people are always having a hard time finding out which one is legit. Obviously, no one wants to waste money on scams so, we are trying to help you find the best platform and our reviews are 100% real and trustworthy. This time we have a StartOptions Review for you to read carefully and find out how it works.
StartOptions was founded in 2010 and at first, they were managed by TradeCharge Ltd using the TradeSmarter platform. With that said, their platform was web-based, and there was no need to download any software. After a couple of years of inactivity, the site is back but with a new skin, as they like to say. The company is supposedly located in Hong Kong but, there is no way to verify this information. Also, in their Terms and Conditions, there is no information about the owning/operating company, and that raises the first red flag.
In addition, new customers have the option to open a StartOptions demo account but, again, it is not really comprehensive, and they don’t have any tutorials that would explain how it all works.
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Is StartOptions A Scam? Is StartOptions Regulated?
There is a number of CFD brokers, cryptocurrencies brokers, and Forex brokers, and it’s extremely hard to find a legitimate broker, especially for newbies. One thing is for sure, before investing your money in any of these sites, you should make a thorough research, and read as many reviews as possible to avoid wasting money and time. When it comes to StartOptions, we are not sure if they do mining, trading or both of them. We couldn’t locate the trading platform, and their definition of mining is investing in a cryptocurrency and holding for 90 days. Not true! So, they offer mining, manual trading, and cryptocurrency automated trading. You can pick between 30% trading and 70% mining or, 100% mining. M
anual trading happens on their website, and basically, you have to invest a minimum of $1000 and expect a profit. They don’t provide any information on how the profit is made. On the plus side, there are no fees on deposits and withdrawals, and according to them, every account is insured up to 100% of the initial investment. Overall, we don’t have any proof of StartOptions Scam but, they need to work on the site because everything is poorly explained and difficult to understand.
Alternatives To StartOptions
StartOptions is a questionable broker, that much we can say. First of all, they are not regulated, and every legit broker takes that first step. Also, there is no information about the location or the owning company so, that is concerning too. Although they do offer a demo account to new customers, it’s still confusing, and they need to work on it. Their website is too messy at the moment to determine if it’s a scam or not but, however, we would recommend you to take a look at other legit and reputable trading platforms. You can check 24Option, which is one of the oldest and most trusted trading platforms, or you can read this Libertex Review to find information about their software, regulators, and assets.