Not approved broker by binaryoptionsthatsuck.com
7.0
  • InsideOption

  • Bonus: Up to 100%
  • Options Payout: 78-84%
  • Rating: 7.0 / 10
Broker Name: InsideOption
Platform: SpotOption
Founded: 2015
Bonus: Up to 100%
Return/Refund: 78-84%/0%
No. Of Assests: 120+
Regulated:   No
Demo Account: No
Minimum Deposit: 500
US Traders:   Not Accepted

InsideOption Review

Update 1/11/2016 – InsideOption Shuts Down Operation

 Editor’s Note – Why does InsideOption Suck in 50 Words

InsideOption suck because they are skirting the edges of regulation. The broker will lead you to believe they are based in Europe, London even, but are in fact registered in Anguila with payments processed through Mauritius, two off-shore banking havens. In the end I don’t care where they are registered, just in their operations. If they are legit, they’re legit but hiding where the headquarters is located does not inspire a lot of confidence.

 

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Why InsideOption Might Not Suck

They might not suck because they might be legit. However, if you noticed, I used the word “might” twice so whether or not they don’t suck is still very questionable. Even if they don’t, suck that is, they are just one more spot option broker and not the best one at that.

 

 

Full Review Of InsideOption – Outside of the Option

InsideOption is a binary options broker owned by The Masters Associaton, LTD. They list a “satellite” office in London as their first address although the company is chartered in Anguila. This broker is not CySEC regulated and not currently under the umbrella of the UK FCA. The broker is built on the SpotOption platform and includes many of the available features.

 

SpotOption is one of the leading platforms, particularly in terms of white label platforms, and is just about the only thing going for InsideOption. To touch base, the platform supports standard digital binary options with short, medium and long term expiry. There are also One Touch, Pairs and Ladders. One touch options require the price of your asset to touch a set strike price only once and are trading in off-hours. The Pairs are like forex pairs instead of matching two currencies it is two stocks, or two commodities, such as Apple/Google and Gold/Silver. The Ladders are my favorite, they trade in the 0-100 style, come with set strikes and have the highest potential pay-outs.

 

SpotOption has recently added CFD/Forex and copy trading to its platform, InsideOption has taken advantage of it. The forex and CFD are simple spot positions, just like with standard forex but with less leverage. The copy trading, called SpotFollow on this broker, is the same thing as iFollow, copy trading powered by ZuluTrade’s powerful algorithm. It’s a good platform for copy trading, but can be found on better brokers.

 

 

Is InsideOption A Scam?

I think only the people inside InsideOption know the truth of that but the signs for scam are good. The broker is very new, usually a sign that there won’t be a lot of comments, but not in this case. InsideOption has proven, based on the comments we get here in the forum, that is at least not trustworthy if not a scam. The main complaints are shady signals, failure to release funds and lack of proper contact with/from the service department.

 

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InsideOption Ratings

User Friendly – 15/20

This broker is based on the leading SpotOption platform so is easy to use and comes with a wide array of assets, options and expiry. There are also plenty of tools for traders as well as educational material which typically help give a broker a good rating in this category. InsideOption falls short though because they don’t back it up with good customer service.

 

Number Of Assets And Expiry – 20/20

I had to give this broker a 20/20 for assets and expiry because it is a SpotOption based broker. It’s not SpotOptions fault that InsideOption is shady, they just happened to get chosen, possibly because they are so good. The Asset list is one of the longest in the industry, expiry range from 30 seconds to 6 months with dozens of choices in between.

 

Customer Service, Support and Effective Return10/20

InsideOption has great customer service when your money is on the way in, but that disappears when you want to get money out. The broker has a litany of complaints including failure to pay profits, failure to honor withdrawals and failure to return contact requests.

 

Deposits, Payout and Bonus – 13/20

This broker scores low in this category because of the complaints. I would have given them a higher rating, because you can withdraw to MoneyBookers in only 4 days, but if you can’t get a withdrawal to start what’s the point? Not to mention the fact that minimum deposit is very high at $500. Payouts are standard for SpotOption, in the range of 81% depending on asset, time of day, market motion etc. Bonuses are also available and come with a minimum of 25X bonus PLUS deposit. Most brokers are only requiring you to clear the minimum on the bonus these days.

 

Website Extra’s – 12/20

There are a lot of extra’s on this broker when compared to the average run of binary options brokers. When compared with the average run of SpotOption brokers there is nothing new here you can’t get anywhere else, with a well known and perhaps regulated broker.

 

 

InsideOption Overall Ratings = 70/100

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