Secured Options Review

Based in the Marshall Islands, Secured Options is a binary option broker which is currently not regulated and licensed anywhere. This is obviously a major issue as far as we’re concerned. From the point of view of the trader, regulation should always be a high priority factor. The broker is apparently present in the UK and Australia as well. It can be reached through local phone numbers in these locations. Trader feedback seems to indicate that they conduct the majority of their business in these locations as well.

Reputation

Reputation-wise, Secured Options seem to have a major problem on their hands. Forums and various comment sections are filled with complaints regarding various aspects of their operation. The common denominator of all these complaints is the fact that Secured Options do not seem willing to honor their traders’ withdrawals. Allegations of fraudulent trading are also present.

Complaints

According to the majority of these complaints, Secured Options run a business they’re looking to sell as a licensed operation. Many of the people shortchanged by the broker were later surprised to find that there wasn’t any authority that they could turn to with their complaints, since there was nobody regulating the activity of this broker. Aggressive sales tactics seem to be a part of the Secured Options MO as well.

According to some traders, following their initial deposits, they were assigned account managers who would then go on and trade on their behalf. While some were actually able to trade on their own as well, others have stated that the account manager traded away all their funds, apparently on a whim. Almost everyone has complained about Secured Options account managers/brokers calling them after registration, and aggressively trying to squeeze them for more money. Some said they were pressured to take loans or to sell their houses and cars. At least one trader said that her Secured Options broker conducted 100% successful trades for her, as long as she let him believe she was going to put more money into the venture. She was even allowed to make a minor withdrawal at one point. As soon as it became obvious she wouldn’t be able to put more money into the middle, her manager’s trades suddenly turned sour and she ended up losing all her money.

Other traders said that when they made it known that they weren’t interested in putting any more money into the trading effort above the minimum deposit they had made, their Secured Options contact suddenly turned aggressive and began accusing them of money laundering.

Several reports have stated that Secured Options representatives essentially questioned their clients in regards to their financial situation.

To make matters still worse, we have first-hand knowledge of Secured Options working hand-in-hand with a number of proven auto-trading scams. Indeed, some of the above-described complaints originated from people who landed at the broker through an auto trading scam.

Secured Options Withdrawals

In order to avoid problems associated with withdrawals, traders should follow the procedures set forth at the Secured Options website. To be allowed to withdraw, traders need to have their accounts verified. This verification process has been the subject of a few complaints as well.

According to the site, in order to avoid traders abusing the services of the broker by committing financial fraud, money laundering and identity theft, clients have to submit a number of documents to verify their accounts. A government-issued photo ID has to be provided to this end, together with proof of residence, in the shape of a utility bill issued within the last 3 months. A color copy of one’s credit card has to be provided as well, showing only the first 6 and the last 4 digits.

In addition to all the above, a Declaration of Deposits has to be completed and signed electronically.

The site reserves the right to refuse service and to deny the distribution of profits to traders suspected of illegal activities, or if the activities of a trader may inflict financial damage on the operation. That there is a rather handy way out for the broker of any litigation that may arise between it and its clients.

Furthermore, according to the Terms and Conditions at the Secured Options website, withdrawals can only be requested a minimum of 30 days after the first deposit. At least one trade has to have been made during that time in the account. Withdrawals which do not fulfill these requirements are denied. Regardless of how one turns that around, it’s in essence saying that the site reserves the right to hold its traders’ money hostage for at least 30 days.

The minimum withdrawal amount has been set to $250.

Secured Options Features

Despite what you may see claimed here and there, the Secured Options platform is not some sort of cutting-edge piece of software, bristling with useful trading tools. It is a very basic SpotOption platform, available at most brokers. It does its job well, although the spreads that it uses seem quite exaggerated in some cases. The spreads are the difference between the actual market prices and the price featured by the broker.

Secured Options Trade Types

As far as trade types go, Secured Options feature a decent selection. They support 60 second options, One Touch options, Long Term options and Pairs options.

Secured Options Platform
The Platform – Secured Options

Education

The Secured Options site features a comprehensive section dedicated to the education of its clients. In order to access the fully featured version of this Education Center, one needs to have registered an account with the operation. The Center offers an eBook, a glossary of trading terms, access to a selection of webinars and a video-library, which covers everything from the basics to advanced trading strategies. The site offers free trading signals to account holders too. In fact, there have been a number of complaints regarding these trading signals too.

Secured Options Account Types

Secured Options feature no fewer than 5 account types meant to cover a wide range of trading styles and levels. The base account type is the Standard one, which requires a minimum deposit of $250 on the part of the trader. This account type offers access to all the tradable assets. It also gives the trader an eBook and a free first withdrawal. According to the Secured Options website, the maximum payout rates attainable through this account type are 83%.

The Beginners Silver account has a minimum deposit requirement of $2,000. The advertised payout rates associated with this account are the same as the Standard account ones. In addition to what the Standard account delivers, Silver account holders also get a personal training session and access to Training Central.

The Gold account features a minimum deposit requirement of $25,000. Besides all the perks delivered by the Silver account, it gives traders a personal coach too.

The Expert Platinum account comes with unlimited free withdrawals and it has a minimum deposit requirement of $50,000. It also offers live trading sessions with an expert as well as sessions with a financial expert.

Last, we have the Diamond account, which is somewhat shrouded in mystery. The payout rates it offers are up to 89%, and it comes with a customized platform and higher trading limits. While it’s unclear how much one has to deposit to gain access to this account, from what we’ve gleaned from trader feedback, we believe this minimum is $100,000.

Secured Options Asset Selection

The tradable asset selection at Secured Options is great. All the popular (and less popular) currency pairs are covered, as are all the major indices, stocks and commodities. In every one of these categories, traders will find underlying assets they’re not likely to find anywhere else.

Secured Options Support

The Secured Options support can be reached through a variety of channels like live chat, phone and email. The support staff seems knowledgeable, although complaints have been registered in regards to this aspect of the operation as well. Apparently, support isn’t exactly helpful when it comes to withdrawals. Also, according to some traders, the Terms and Conditions put forth at the site are often disregarded by the operator.

Secured Options Specs

Broker name Secured Options
Jurisdiction Marshall Islands, site based in Bulgaria
Regulated No
Website URL securedoptions.com
Trading platform/app SpotOption
Support info@bbinary.com, email form
Trader Demographics Everyone, everywhere, except US. Focused on UK, Australia
App compatibility Android, Windows, Mac, Linux
Minimum required deposit $250
Maximum return 89%
Customer service Knowledgeable, available 24/7, some complaints
Mobile trading Yes
Bonuses None available

SecuredOptions Review Conclusion

There’s a lot of toxic vibe out there in regards to Secured Options. While the operation does look like a decent binary option destination taken at face value, there are many missing pieces to that puzzle as far as we’re concerned. First of all, their regulatory status is a major problem. We have found them to be associated with known auto trading scam schemes. The trader feedback in regards to the withdrawal services they feature, is abysmal at best. One shouldn’t forget the fact that Secured Options is built on the single market-maker business model either.

Is Secured Options a Scam?

There is no way we can state that with 100% certainty, but we have served up enough information above for you to make up your own mind about this and to reach a well-informed decision. One thing is certain: if you sign up with them, they will definitely be in touch.

If you need to file a complaint against SecuredOptions, please visit our Broker Complaint Center.

Please share your own experience with SecuredOptions by leaving a comment below this review.

Summary
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Secured Options
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13 comments

  1. I’m having the same exact problem with CToption.com where my money is held hostage and I can’t take a withdrawal since opening an account March 2016 and they still want more money. Is there anything else I can do?

  2. I recently joined UBinary over the phone with a very aggressive sales man called Alex Foster. The name could be meaningless and probably is. Within minutes I had deposited $250 and sent in my documentation and was verified almost immediately. This was on 27/10/2016. I was working on something else on the following Friday and I only got back to my trading platform on Monday the 31st of October 2016. I could see the $250.00 reflected in the balance column but there was a marked absence of a withdrawal button. I then clicked on the chat envelope and promptly got greeted by Adam. (name could be meaningless. I have seen the same person on Mike’s Trading. ) I asked Adam What procedure to follow for withdrawal and he promptly withdrew my $250.00. The chat window disappeared and nobody was reachable to find out what happened. I was ready to trade before during and after the American election and my preparation fell apart in front of my eyes. I was able to reach one person by phone a few days later who claimed to be Jack but with the same voice as Alex. He promised the money would be back in my trading account the following Monday. I waited and Monday came and went and then it was election day and then the result day and eventually the money appeared in my bank account on the 14/11/2016. I am so cross I nearly suffered a stroke. I am 65 and I do not have much money. or an alternative source of income. Today I received a call from someone at UBinary pretending nothing had happened. I might have been able to make $1000.00 or so if I was able to short gold. Water under the bridge. Their license should be suspended.

  3. I was with SECURED OPTION. They were terrible. I usually traded either 5-8pips ahead on the Call or reverse on the PUT. I’d place the call say 1.06264 USD/EUR then noticed my entry would be 1.062469 or 72 yet my approved confirmed entry was 64. I couldn’t for the life of me work out why that happened and it happened all the time, which meant I was entering a trade higher or lower than what it had been approved.
    They never answered my emails, messages on chat on their system.
    I had a broker call me and he credited my account with USD$250.00 again. Same thing happened it wasn’t long before I lost that money too.
    They are terrible to deal with and I would never consider going with them again.
    Do you know anything about PIOPTION. I have traded with them for a couple of months. I would have extreme consistent ITM and then following that using the same strategy I would have extreme OTM. I deposied more money now after reading this article I’m considering withdrawing my money and depositing with TOROPTION. Toroption I understand is one of the top 10 binary option companies. Can you tell me about both PIOTION & TOROPTION? Many thanks

  4. This is for Eric(Willem) Scholtz. It’s unfortunate for you having been associated SecuredOptions.I say this because they are NOT LICENSED/REGULATED.Their is no regulatory body to complain to. Being a follower of Anna Jones on facebook(The Anna and Jacob) of this website.She recently posted a message informing followers that any and all brokers assigned to an individual whom signs up with an Auto Trader will be assigned an Unlicensed/Broker….Plain and simple.Both James and Daniel do very OBJECTIVE reviews on whatever it is they cover at any given time.Also advise to follow guidelines with an unregulated broker.(Good advice)…But the bottom line is THEY SIMPLY DON’T HAVE TO PAY AND USUALLY DON’T,BECAUSE THEY DON’T HAVE TO.I have signed up with 3 autotraders but have not and will not fund any of them. All unregulated brokers.They are a persistent bunch though.Daily calls from numerous unscrupulous brokers.(Not to mention all the spam) and not the original meat in a can.Lol.I mostly let it ring through,but on occasion I’ll pick up a call and have a little fun with em’. I am by far NOT an expert but Due Diligence is so crucial. Good luck to all.Eddy.S

  5. Joined secured option 6 month back and got a decent return on my investment and their service is very professional, but the withdrawal may take one or two days. it’s okay for me. Moreover their service and trading platform is awesome which works very well and increase profits. i recommend you guys to get start your binary career with securedoptions and earn decent amount .

    1. Hi Himmel!
      I want to contact you and talk about SecuredOptions.
      Here is my skype: englishroma2008

      I am trading with them. So i would like to know how they work thanks a lot!

  6. Start working with securedoption year back and got good amount of revenue from them. they are very professional and providing great market and trade signals that help to serve trading in a very batter way. they are also offering educational portal that helps to server traders via online courses and ebooks. i must say this platform is for all of you to get start trading . enjoy

  7. Beware Secured Options scam broker.Double check the reviews because some flip flop in exchange of money. I had got scam by this one and I am trying to get my money back via charge back from my bank. There are several bad reports on this broker.

  8. Helps in strategies and trading-Secured options Review :
    For novice traders, who are just starting to trade in Binary Options, secured options is the best choice for them. It has helped me in trading by making my trading easy and convenient

  9. Hi, I’ve tried Pioption. It was the worst experience with binary options I have ever experienced! With my initial deposit they were trying to milk me for more and more. If you tell them no and say you are happy with what you have they turn aggressive and hang up! One guy, called “Dave Morris” turn so aggressive, told me “You are a Fucking bullshitter!” and hung up. Then phones me the next day as if nothing happened! And don’t try to remind them cause they don’t recall! Every time its another so-called master broker or account manager. I ended up doing my own trades making $260 profit on their platform. I did not engage for any bonuses from the start as I will never make that mistake ever again. It took me more than three months to get a withdrawal, two to be exact. They only paid back my initial deposit in total and withheld all profits I made. You can send them emails, you can try to phone them! Even their international lines don’t answer. Their online chat is always offline. Spare yourself the trouble and don’t ever engage with these fools as they will disappoint.

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