We are going to review another fairly new binary options broker called Optionridge. It seems that many traders have been asking about Optionridge, and I will provide what I can find on this broker. I will examine their short history, their terms and conditions and I will tell you if they offer a demo account and mobile trading. Last, I will give you my opinion on whether Optionridge is a scam or not.Visit Website
- Many assets to trade on
- A great binary options educational library
- Not licensed or regulated
- A plethora of complaints
- Affiliated with several known automated signal robot scams
Deposit & Withdrawal Methods
- Company:Mountain Rider Ltd
- Incorporated:Marshall Islands
- Minimum Deposit:$250
- Minimum Withdrawal:$150
- Minimum Trade:
- Demo Credits:
- 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
Optionridge is a binary options broker owned and operated by Mountain Rider Ltd in the Marshall Islands. Optionridge allows traders the ability to trade in 30 second, 60 second, 2 minute and 5 minute binary options in commodities, currencies, stocks and indices.
Traders can create an account with Optionridge and deposit a minimum of $250 to start using their trading platform.
The Optionridge history is quite short. In January of 2015, Mountain Rider Ltd in the Marshall Islands created the Optionridge website and began accepting traders. All billing services are handled by Rusty Flower Ltd in Bristol, United Kingdom.They have been adding more assets consistently.
Optionridge Terms and Conditions
You can learn a lot about any binary options broker by reviewing their terms and conditions. I suggest you do so before you create an account with any broker.
I took a look at the Optionridge terms and conditions. This just a bit of what I found:
- By registering, you guarantee you are legal age.
- All transactions between you and the Company take place in Cyprus where the Company’s principal servers are located.
- The company has a right to perform background checks on any account holders.
- You agree that you will not use automated robots.
- Dormant accounts will be charged $25 annually.
This is just a small portion of the Optionridge terms and conditions. Do read them completely before creating an account.
Optionridge Withdrawal and Bonus Terms
The minimum withdrawal amount is $150. Any withdrawals below this will be charged maintenance fees. It takes 2-7 business days to process withdrawals. Otherwise, Optionridge does not tell us much more on the withdrawal process.
When I look at bonus terms, it plainly says in the terms that bonuses have their own terms and conditions, but I cannot fond bonus terms on the website anywhere. Personally, I believe it to be a bad idea to accept any type of bonuses. Terms of trading volume are normally so outrageous that it just doesn’t make good sense to accept any bonuses.
Optionridge Demo Account
In the front page of the Optionridge website, there is a mention of demo trading next to social trading, but I do not find any other location to actually start a demo account. There is the possibility that an account manager will set up a demo account for you after you have deposited money.
Optionridge on Mobile
Optionridge does offer mobile trading applications that can be attained at the Google Playstore or the Apple App store. They take pride in these applications so traders can get signals and invest while they are on the go with their tablets or smartphones.
Optionridge Scam Watch
I highly recommend that you bypass trading with Optionridge. I will not say with an absolute determination that Optionridge is a scam, but there are many signs that point in that general direction.
Optionridge is not licensed or regulated. They also have many complaints in their short time of being in business. Complaints range from no withdrawals to identification theft. I even saw one complaint where the person posted the reply from an Optionridge representative that was very unprofessional.
In the Optionridge terms and conditions, they claim their servers are in Cyprus when their headquarters are in the Marshall Islands. They say that automated signal robots are not allowed, but Optionridge is the preferred broker for several automated robot scams. And, as I always say, scammers run together.
I suggest you find a safer and more reputable binary options broker. Stay clear of Optionridge is my suggestion.