CySEC, ESMA, MiFID
Prestige Option Review
In this review, we are going to examine a new binary options broker owned and operated by Lead Capital Markets Ltd in Cyprus. Prestige Option has been quite popular with traders, and we had a request to review this binary options broker. I will tell you about Prestige Option and will examine their terms and conditions. I will tell you if they offer a demo account and mobile trading. Lastly, I will give you my opinion if Prestige Option is a scam.Visit Website
- Licensed and regulated by CySEC and several others
- Popular StrategiX trading options
- High $500 minimum deposit
- Extremely high volume terms on bonuses
Deposit & Withdrawal Methods
- Company:Lead Capital Markets Ltd
- Minimum Deposit:$500
- Minimum Withdrawal:
- Minimum Trade:$10
- 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
About Prestige Option
Prestige Option is a binary options broker who utilizes the Tradesmarter Platform. Investors can trade short or long term binary options, and also have the StrategiX which offers trading in Range, Touch or No Touch and also above and below options. Prestige Option also has a signal generator called AutoChartist. This is unique and gives details on those signals.
Prestige Options is owned and operated by Lead Capital Markets Ltd who is CySEC licensed. On top of CySEC licensing, Prestige Options is also registered with REGAFI in France, CONSOB in Italy, BaFin in Germany, AFM in the Netherlands and FCA in Great Britain.
Prestige Option History
There is very little history behind Prestige Options. The Lead Capital Markets Ltd firm started Prestige Option in late 2015. They utilized the Tradesmarter platform. Lead Capital Markets was already CySEC licensed before starting Prestige Options, and they also sought and received regulation from the other Financial regulators I listed above.
Prestige Option Terms and Conditions
I decided to review the terms and conditions at the Prestige Option website. This is a partial list of what I found:
- You must be 18 years of age or older to use the Prestige Option trading platform.
- When Prestige Option provides trading recommendations, it is not to be construed as advice. It is merely there for your information.
- We reserve the right to cancel any and/or all trading positions and withhold and/or forfeit any profits incurred by the Customer on all the Customer’s trades if we consider that that the Customer has engaged in market Arbitrage.
- You must provide certain documents to deposit with Prestige Option. These will include a copy of your photo identification, a copy of a utility bill showing your name and address and a copy of the credit card used to deposit
These are just a small sample of the terms and conditions. I suggest you read them completely before signing up.
Prestige Option Withdrawal and Bonus Terms
As long as you supplied all the proper documents in the terms and conditions when you created an account with Prestige Option, withdrawals are no issue. You simply send in a withdrawal request, and it will be processed within 10 days.
I highly recommend you consider the consequences of accepting a bonus from Prestige Option. Their terms for bonuses are quite rigid. For any bonus received, you must trade a volume of 60 times the bonus amount before you can withdraw that bonus. Also, if you make a trade over 50% of your account balance, it will not count towards the volume needed to withdraw a bonus. So, if you receive a $100 bonus, you will have to $6,000 in trades. These are extreme terms for bonuses in my opinion.
Prestige Option Demo Account
Prestige Option does not offer any demo account for traders. They do however offer some great binary options trading educational resources. They offer live webinars, videos and a comprehensive ebook to educate you on binary options trading.
Prestige Option on Mobile
Prestige Option is available for traders who want to use this broker while on the go. Not only is their website mobile friendly, Prestige Option also has a trading application for mobile users, and it is available at the Google Playstore or Apple App Store.
Prestige Option Scam Watch
Prestige Option is following all the rules to be a recognized and transparent binary options broker. There is nothing I see with their system that could give the thought that it is a scam. Being CySEC licensed and regulated, your investment has protection when you utilize the Prestige Option trading platform, and what also amazes me is the steps Lead Capital Markets Ltd took in getting financial regulation in several other countries.
I believe Prestige Option is a safe and trustworthy binary options broker. Yes, their bonus terms are outrageous, but wise and experienced traders usually know that saying no to bonuses is the smartest move.
If you have traded through Prestige Option, please share your experience with our readers. Thank you.