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setoption.com Broker Review
Our Overall Rating
On 30 April 2015 the company setoption.com received a warning from the Swiss FINMA for conducting unauthorised financial activities. It was published that Setoption.com is not allowed to offer investment services without the required authorisation. As it carries a high level of risk and can result in the loss of all your funds.
Setoption.com is a binary options broker founded in 2012 and located at av. Industrielle 14, 1227 Carouge, Switzerland, Tel: +44 20 3514 0881. The SetOption broker offers a variety of lucrative features to it’s clients, however these features vary depending on the type of trading account that a client chooses to open.
The company offers various assets including currency pairs, stocks, commodities and indices. It is acomparatively new broker and does not have an established reputation, due to which many traders faced a lot of problems and reported them as a scam broker. Plus the company’s websites does not seem to be tailored to traders’ needs – it is currently unreachable.
Complaints reported by the traders include:
- Deposits and Withdrawals – One of the biggest concerns with Setoption is their transparency when it comes to withdrawing and depositing money, their guidelines are not clear and due to which many traders are unable to make good trading decisions.
- Customer Support – The broker is unable to provide proper customer support to its clients because most of the time their agents are unavailable. Sources indicate that setoption.com is shut down and inaccessible.
- Withdrawal Policy –The system seems to be a secret and covered for the most part which explains why traders will not choose to do business with this broker. There has been much difficulty in the withdrawal of money.
Address av. Industrielle 14, 1227 Carouge, Switzerland
Setoption considered itself to be a highly innovate global binary options trading platform with international coverage and expert financial advisors.
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