BMB Option Review
A fairly new binary options broker claims their business model is a success for their clients. I speak of BMB Option, which stands for Benedict Morris Binary Option.
I have decided to review the Benedict Morris Binary Option system. I will tell you about this broker. I will examine BMB’s terms and conditions. I will also explain if BMB Option offers a demo account and mobile binary options trading. Last, I will give my opinion if Benedict Morris Binary Option is a scam.Visit Website
- The highly accepted Spot Option platform
- Great bonuses
- Still quite new and untested
- Not licensed or regulated
Deposit & Withdrawal Methods
- Company:Log Capital Trading Ltd
- Platform:Spot Option
- Minimum Deposit:$500
- Minimum Withdrawal:$100
- Minimum Trade:$5
- Demo Credits:With Deposit
- High/Low, Pairs, One Touch, Ladder, Forex
- 30 sec, 60 sec, 90 sec, 2 min, 5 min, 15 min, 30 min, 45 min, 1 hour, End Of Day
- iPhone, iPad, Android
About BMB Option
BMB Option is otherwise known as Benedict Morris Binary Options. Owned and operated by Log Capital Trading Ltd in the Commonwealth of Dominica, BMB offers a highly responsive and popular binary options trading platform for investors. Traders can trade in stocks, commodities, currencies and indices using one touch, 60 second, long term, ladder and other binary options trading methods.
Benedict Morris Binary Options says that their goal is to make trading more profitable and easy for investors worldwide.
BMB Option History
Log Capital Trading Ltd contracted with Spot Capital Markets Ltd in May of 2014 to utilize their patented, and popular Spot Options trading platform. Upon signing the contract, BMB Option was put live on the internet. Using a highly professional system, Benedict Morris Binary Options prides themselves on the wide range of assets they offer, the binary trading educational material they provide and their 24/7 customer service.
BMB Option Terms And Conditions
I decided to examine the BMB terms and conditions. As an investor, I suggest you read the terms completely before creating an account with any binary options broker. These are some, but not all of the terms and conditions I found at the BMB Options website:
- Only clients 18 or older are accepted
- You must send the company a photocopy of your valid passport, driver’s license, or national identification card, a utility bill or bank statement from the last two months with your address clearly shown, and A photocopy of the front of the credit card which you used to make your deposit
- Accounts not used for 6 months are considered dormant; dormant accounts will be charged $25 for every 6 months they are dormant
- The website follows laws of the United Kingdom
- Automatic trading software is not allowed
Like I said earlier, these are just a few of the terms and conditions. Before agreeing to an account, read them completely.
BMB Option Withdrawal and Bonus Terms and Conditions
As long as you submitted the documents listed in the terms above, withdrawals are no issue with BMB Option. The minimum withdrawal amount is $100 and will be given back in the same form the deposit was made. The trader just simply fills out and sends BMB a withdrawal request, and the team will process it quickly. Normally, this is within 5 working days.
BMB Option does offer some great bonuses. The stipulation to withdraw after receiving a bonus is: you must trade in volume 20 times the bonus amount within 6 months of receiving the bonus. So, if you received a $100 bonus, you must make trades amounting to $2,000 within 6 months from the reception of the bonus. Because of this policy, you should keep this in mind before accepting any bonuses.
BMB Option Demo Account
Depending on the account a person signs up for (the smallest is a deposit of $500), the trader can use a BMB demo account for a certain amount of time to familiarize themselves with the trading platform. Along with this, BMB Option also offers their clients a wide range of binary options trading educational materials.
BMB Option On Mobile
BMB Option does have a mobile trading application. Traders using mobile devices can have trading signals delivered through the BMB Option application which is available at the Google Playstore or the Apple App Store.
BMB Option Scam Watch
I am impressed with the professional appearance of the BMB Option website. From everything I see, the owners at Log Capital Trading Ltd have created a system that is transparent and highly user friendly. I have not discovered any complaints against BMB Option as of yet. Being less than 1 year old, BMB Option has not been tested, so we would appreciate any comments from traders who have used Benedict Morris Binary Option.
Keep in mind that BMB Option is not yet licensed or regulated, so if you deposit money in their system, you do not have a “fall back” organization to go to. It is my understanding that BMB Option has filed for licensing, and from everything I see, I believe they will have no problems getting licensed. No, I do not think BMB Option is a scam.