Beware! PremiumOptionFXPro is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
When we first laid eyes on PremiumOptionFXPro we knew that moment that we would be reviewing one very shady broker. And so it was, and as a result we have provided a very informative review that will talk about the true nature of the company. Make sure that not to invest before you finish the review, and after that you will see that nothing can be gained from doing so!
Once we registered, we had the ability to chose one of two account types. One offered trading and the other Bitcoin mining. Speaking of the registration process, it was easy and quite fast, meaning that anyone can do it.
In the user area, we found that neither FX trading was possible, nor Bitcoin mining. There was no trading software, nor was there a dedicated BTC mining area. So the broker lies.
Without a software, PremiumOptionFXPro is not really a broker because it does not allow trading. While the information on the website is completely fake and misleading, offering deceptive information that is not applicable!
PREMIUMOPTIONFXPRO REGULATION AND SAFETY OF FUNDS
PremiumOptionFXPro reveals that it is registered in the United Kingdom. This is a serious statement that bears with it unimaginable responsibility, and that is why we believe that the firm has lied about this.
The most crucial thing to understand is that a UK address immediately entails a UK based regulation, as issued by the FCA. But there is no such thing to be found anywhere. Neither the broker nor the regulator itself claims that PremiumOptionFXPro is legit. So, the broker is not allowed to offer FX services in the UK, and if it does it will get busted soon enough.
And that is all the legal details we have. PremiumOptionFXPro is completely unlicensed, and a risk to all! Any invested capital will be lost, while personal details given away are not safe!
If you are investing in an unregulated broker better not invest at all; at least in the latter occasion you will not be ensnared in an investment scam that will not only take your money but will greatly waste your time and energy. Better yet, if you have the will to invest, and either are skilled at it or want to expand your knowledge, there is no better way to go than any of the European, UK, US, or Australian brokers we have compiled for you. These are all regulated, and so are up to industry standards, but are also limited in the amount of freedom they can have by some of the top regulators!
PREMIUMOPTIONFXPRO TRADING SOFTWARE
Let’s return to the promises made by PremiumOptionFXPro.
First of all, the trading software. Instead of one in the user area, the firm has included a couple of third party charts, which serve no purpose at all!
Moreover, there was no virtual BTC mining apparatus anywhere, meaning that another promise gets the back hand.
Then there is the website, that not only promoted binary options trading, but also investment packages. Nothing of this sort exists in the user area, and so the broker lies again. We don’t think we have ever seen a broker deliver so many fake promises before!
PREMIUMOPTIONFXPRO DEPOSIT/WITHDRAW METHODS AND FEES
In the user area, we find only a single BTC wallet made available for depositing in. The client is also encouraged to contact support in case she wishes to change the depositing method, but this will only lead to further solicitation. We don’t believe that there are other payment methods. Not to mention that the investment is made directly into a shady and untraceable Bitcoin address, where there is no minimum deposit, i.e clients can put as low as a dollar!
In the withdrawal section, we are told that the available payment methods are a bank transfer and a Bitcoin wallet. But, there is no real guarantee that PremiumOptionFXPro will allow its users to withdraw. Considering its legal status, we think that it will hold on to all the user’s funds!
There are no mentions of fees or other commissions for services or otherwise, but with scammer and unregulated brokers this lack of information can mean that the broker has simply chosen not to disclose the charges, not that they do not exist. So make sure not to invest in PremiumOptionFXPro, not only to avoid having your funds stolen, but also evade any hidden commissions!
HOW DOES THE SCAM WORK
Scams have surprisingly little evolved over the past decades since their inception. It’s basically the same principle being rendered through different sites and by a plethora of different agents.
The core remains the same. The broker tries to grab the client’s attention either by advertising false profit gains, or by directly contacting the user, who is the vastness of the internet let his guard down at some point and either provided an email or a phone number to some now forgotten source.
Should the user get contacted (or fall for the ads) he or she will be shown to the website of the investment fraud and promptly be pushed to invest, either by sweet talking representatives of the scam, or by the account manager which is also the one that keeps the whole thing in check.
The ultimate goal is to compel the user to invest once, and after that the trap is fully shut. The client already lost money, and any further investments are a bonus to the broker. All withdrawals will not be available, and even if the broker seems to be keeping a straight face, it’s all part of the scheme.
Sometimes the users will get a small teasing taste of profit, just so they are motivated to invest more. But after that one time is when most clients realize that something is wrong.
WHAT TO DO IF SCAMMED
The best thing to do is to file for a charge back with your credit or debit card provider, provided that you had previously invested via them. MasterCard and VISA have a chargeback period of 540 days, so its relatively easy to get reimbursed, and that’s why fewer and fewer scammer brokers are offering card payments.
An easier way to lose money is through wire investments. The only advise we can give you is to contact the bank as soon as the money has been lost (or when you realize you have been played). That and to change your bank account password and user name!
We come to the favorite investment methods of unlicensed brokers – crypto wallets. These are untraceable, and thus once a payment goes through it’s finished! There is no real way of getting one’s money back.
Also do not trust recovery agent or agencies promising to get your money back. These will fee you a hefty sum in return for their services, but as soon as you pay them they will disappear!