Optionfield Review – 5 things you should know about Optionfield.com

Optionfield Review – 5 things you should know about Optionfield.com

Beware! Optionfield is an offshore broker! Your investment may be at risk.

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ОptionField is a brokerage, situated in St. Vincent and the Grenadines, which offers binary options trading with payouts of up to 85%. It is owned and operated by Optionfield Limited. Potential clients have at their disposal the MetaTrader4 trading platform and a diverse range of trading products.  The required minim deposit comes at $100.

Optionfield regulation & safety of funds

Optionfield is among the more interesting brokers we have come across. It utilizes the MetaTrader 4 trading platform and also provides traders with the binary options MT4 extension which is the first we have seen so far. However, we must say that the brokerage is located in St. Vincent and the Grenadines, and as such – does not fall under any regulatory oversight.

Prestigious regulatory agencies, such as the UK’s FCA and CySec, require compliance with a number of strict rules that give significant assurance for the security of the clients funds. 

The segregation of accounts is among the rules which are especially important in the trading world, because it drastically lowers the risk of possible commingling.

Another is the participation in a compensatory scheme by which the client’s losses will be covered in the unlikely case the broker goes bankrupt or attempts to swindle traders.

Optionfield deposit/withdrawal methods and fees

Potential clients of the brokerage have a wide range of payment methods before them. They may deposit or withdraw via Visa, MasterCard, bank/wire transfer, Neteller, Skrill, Entropay, Bitcoin and Upaycard. There is also stated quite clearly on the website that there is a withdrawal fee of 1 per cent for credit cards and wire transfers. Traders should take notice that there are a number of safet-checks they may try with the brokerage, instead of trusting it at face-value. Firstly, they must always invest only the required minimum deposit, so that there is certainty about the legitimacy of the brokerage, before risking a bigger amount. Afterwards, they may also try to withdraw a small amount in order to check for any unexpected fees or delays. If they do – traders may rest assured that they’re dealing with a scammer.

How does the scam work?

One of the best trust-creators in the trading business is the regulatory status of a brokerage. It distills confidence and almost completely removes the risk that the brokerage might be a scam. Nevertheless, we may not always rely on regulation and traders should be informed about the ways of scamming:

Almost certainly you have had pop-up ads waving “quick money” at your face while browsing the internet many times. One day, curiosity gets the better of you and a nice-looking website such as Bitcoin Trader or Crypto inner Circle shows up asking you to register. After sharing your personal information, a call from a broker will undoubtedly come, a broker with a once-in-a-lifetime opportunity for you. After a few minutes of him gabbing about it , you decide to deposit some $200-250. And just like that – the scammer snatches a nice $50 commission from the initial deposit.

However, brokers are surely aware they can get more out of you. They redirect you to the “retention” where next in line scammers begin working you into putting even more. After making the mistake of investing even further, you’ll begin wanting to get out of this and withdraw what is left of your account.

Now comes the “recovery” part of the scam. After stating that you wish to withdraw your money, the scammer will begin pleading with you to wait it out, six months at the most. What they aim at is barring you from filing a chargeback with your bank. If six months expire, that option is closed and your money is gone for good.

What to do if scammed?

We wish no trader has to consider such circumstances, however, in the dire case you are scammed – it is much better knowing what available options you have in front of you:

You may contact your bank or credit card provider and file a chargeback, but only within six months of the initial deposit, as was noted above.

If, however, you have provided the broker with your credit card details, immediately cancel your credit card.

If you have given information regarding your online banking pass – you should switch it asap!

Beware of potential calls from self-described “recovery agencies”! They prey on scammed and vulnerable traders who are desperate and ready at anything to somehow recover their losses. They will say that in exchange for an up-front payment, you will get your money back, but no such thing will occur!

Rich Snippet Data
Review Date
Reviewed Broker
Optionfield
Broker Rating
1.91star1stargraygraygray

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6 Comments

  1. Optionfield Rep

    Hi, everyone. I am representing Optionfield.com and would first like to thank theforexreview.com for their review.

    Just a few clarifications so that the information here is accurate and useful to Binary traders out there.

    1. We do not offer Forex, only Binary Options. Our quotes do not have any spread -> there is only one price which is the Mid = (Bid + Ask)/2
    2. The minimum deposit is 100 USD/EUR/GBP, however crypto-currency deposits (which are among the most used by our clients), you can deposit as little as 5 USD/EUR/GBP.
    3. Optionfield Limited is registered in Saint Vincent and the Grenadines, where you rightly noticed that Binary Options are not subject to regulation. Nevertheless, we know that regulation is very important for traders and that is why we plan to apply for a license later this year. We just want to see what will happen in Europe first with regards to ESMA – as you know there is currently a ban on EU brokers of offering Binaries to retail traders and ESMA are to reevaluate their ban in a few months.
    4. The withdrawal fee is 1% for all withdrawal methods (crypto-currency, http://www.UPayCard.com, bank transfer), however it is capped at 20 currency units (e.g. a withdrawal of 20 000 EUR, would be charged 20 EUR withdrawal fee).
    5. We do not have any Sales, Retention, Recovery, etc. call agents. In fact, we never call clients or prospects, unless they request a Customer service agent to call and help with a particular support request.
    6. We never request any card, bank account or any financial information. Clients can only deposit by themselves and only after their account has been verified with an ID and address document.

    On a side note, we also have a free monthly MT4 Binary Options Demo contest.

    Again, thank you for your review and we hope clients will come and rate our services here. It is always good to have feedback from people who have used our services.

    Cheers, if you have any questions, you can always write here or contact our Support team.

  2. I have actually tried them for a few months now. All is good, had several withdrawals processed within minutes. Their support is helpful.

  3. Optionfield Rep

    Hi, guys. We hope you are doing well.

    Just a quick update on what’s ongoing currently at Optionfield. This month we are having a free Binary Options Demo contest with a prize pool of 2000 USD to be split among the first 3 winners. We are also running a 5% profit boost program which gives you 5% trading rebates on all your April winning trades. For more information, please visit our website or contact our Support team.

    Cheers!

  4. Optionfield Rep

    Hi, everyone. We hope you are having a great summer (or winter if you are in the southern hemisphere :)). I just want to provide you with the latest developments at Optionfield.

    1. We’ve increased our payouts and you can now enjoy up to 93% payouts on our Pro and Elite accounts, as well as higher payouts on the Classic account.
    2. We’ve introduced Skrill and Neteller for deposits and withdrawals.
    3. Apart from the MetaTrader 4 platform, we now give you access to trading binary options also on our WebTrader which doesn’t need any installations, as well as on our iOS and Android apps so you don’t miss a trade wherever you are.

    As usual, our free monthly Binary Options Demo contest is ongoing and this month the prize pool is 2000 USD. All you need to do is just practice on your Demo and we’ll show you how you measure against all the other demo traders on our platform. It’s a good chance to make some money while you test your strategy or just practice on your demo.

    If you have any questions, don’t hesitate to contact our Support team at [email protected] or join our Livechat on http://www.Optionfield.com.

    Kind Regards,
    the Optionfield Team

  5. Hi, everyone. I hope you are having a nice November and are warming up for the upcoming holidays.

    Just a few updates on the new things happening at Optionfield, which I am excited to share with you!

    We have launched our best promotion we’ve ever made for a Pro account – only by the end of November, you can get a Pro account with a minimal deposit of just 350 USD/EUR/GBP (depending on the currency of your trading account) instead of the standard requirement of 2000. With a Pro account, you are getting higher payouts (up to 93%), more relaxed trading limits and withdrawals free of charge once a week. You can check out the payouts comparison between our regular Classic account and the Pro account on https://optionfield.com/binary-options-payouts/ and the comparison between our different account types on https://optionfield.com/account-types/. You are getting up to 93% payouts with 82% lower deposit requirement.

    We’ve also introduced a new payment option for deposits and withdrawals – Uphold.com. It’s a very popular payment services provider where you can get your account registered and verified in about 3 minutes (their verification process is automated) and you can fund your account via bank card or bank transfer (depending on your region). You can hold any of 23 fiat currencies among other assets such as crypto-currencies or precious metals. They process withdrawals via bank transfer and bank card (depending on your region).

    I hope you’ll be able to take advantage of our Pro account offer. It’s really the best one we’ve ever made. You can find more information and sign up for it on https://optionfield.com/promotions/black-friday-2019/.

    If you have any questions, don’t hesitate to contact our Support team at [email protected] or join our Livechat on http://www.Optionfield.com.

    Kind Regards,
    the Optionfield Team

  6. Dear option field,
    Please kind explain how your affiliate works. Then do you offer revenue sharing, if yes, explain.
    Thanks

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