The availability of trading platforms, software, and robots have played an impressive role in the remarkable progress being experienced in this sector. The increase in numbers of brokers and robots has made the process of looking for a trusted broker a hard task. To make it easier for you, our reviews of these sites only recommend those we are certain are 100% legit. TorOption is a brokerage firm which was created in 2016 and offers a BO, CFD and Bitcoin trading platform. The company is operated by Smart Choice Zone LP that is based in Scotland.
Further, this brokerage firm uses the SoftOption Trading Platform and offers vast educational trading resources that can help you. Customers using the broker have 8 trading options, with each created to fit the different levels of experience. The firm does not have a TorOption demo account, and as such, traders cannot test the options before using them. There are 4 trading accounts on offer, including Mini, Standard, Executive, and VIP.
The Mini is the lowest tier with a minimum deposit of $350, while VIP is the highest tier with a minimum deposit of $50,000. As for the Standard and Executive tiers, the minimum deposit is $10,000 and $25,000 respectively. Read on in this TorOption review to find out if this broker is reliable and recommended.
Find the best trading platform. You capital is at risk when trading. Be careful.
Is TorOption A Scam? Is TorOption Regulated?
Binary Options, Forex, cryptocurrencies and stock brokers have become numerous on the internet. This makes it harder to find a reputable legit broker, particularly for beginners. Based on our research on TorOption, we would point out that this broker is not regulated. This alone raises a red flag, as if a broker is transparent in its dealings, the first step it would take is to be regulated. This company also does not offer a demo account for customers. Any legitimate broker will give its traders the option of a demo account, so they can use it to get accustomized with the options on the site. The other red flag is that there are multiple complaints online about this broker. While negative comments are always written more than positive ones on review sites, the number of complaints is alarming. The negative feedback far outweighs positive feedback, creating the impression that the broker cannot be trusted. While this is by no means firm proof of a TorOption scam, we would advise you to steer clear of this broker. Instead, check out plenty of reviews for those that are regulated and suit your personal trading preferences.
Alternatives To TorOption
The fact that TorOption is not licensed and regulated raises valid questions about its legitimacy. To avoid risking your money, you can choose from a huge range of other options. 24Option is among the oldest brokerage firms and is managed by Rodeler Ltd, which operates under the regulation of Cyprus Securities Exchange Commission. This is one of the most trusted online sites that you can trade with. Another broker worth a mention is eToro. We have a comprehensive eToro review Review, along with many others. These have helpful information about the brokers, including its trading assets, regulators, software, products, and much more.