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Not approved broker by binaryoptionsthatsuck.com
7.1
  • No1Options

  • Bonus: up to 200%
  • Options Payout: 75-89%
  • Rating: 7.1 / 10
Broker Name: No1Options
Platform: SpotOption
Founded: 2014
Bonus: up to 200%
Return/Refund: 75-89%/0-10%
No1Options Overview
No. Of Assests: 58
Regulated:   No
Demo Account: Yes
Minimum Deposit: 500
US Traders:   Not Accepted
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No1Options Review

 Editor’s Note – Why does No1Options Suck in 50 Words

Who is No1? No one. I don’t know. Who! What? Are you regulated! Who are you? So my money is safe with you? Uh huh… Confused yet? Good, because I am “training” you and preparing you for your first contact with No One Options. Excuse me, No1. What sucks about them? What doesn’t. . .

 

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Why No1Options doesn’t Suck in 50 words

They don’t have anything special. Nothing would make me choose No1options over another broker. Same platform, same slogans We’re the best, first, biggest, most reliable bla, bla. But this is the section where I have to find something good about them. Challenge accepted! They have an Economic Calendar, a Pivot Point Calculator and a Fib Calculator. These features are useful if you are not using Meta Trader 4 or similar software but I’ll let you decide how useful.

 

 

No1Options Review – No 1’s Options

According to the website, the brokerage is owned by Shof Marketing LTD, a company we don’t know a lot about. This is not necessarily a warning sign and a quick search online didn’t return worrying results. The website itself is pretty well put together, without major glitches or broken links. The information is also easy to access and the platform used for trading is provided by Spot Option (version 2.0). No download is required and the functionality of the platform is optimal, with straightforward features. However Spot Option is the biggest provider of Binary Options software and we would expect their software to function as it does.

 

Looking for things that could set No1options apart from other brokers, I hit a wall. They offer the same service as the majority of brokers out there. Education material is provided by MTE–Media and to access most of the content you’ll need to be logged into an active account, similar to all Spot Option brokers. The variety of account types is pretty wide but in my opinion the minimum deposit for the smallest account available is too high: 500 USD. For a VIP account you will need to deposit 50,000 USD which is a lot considering that No1options in not one of the biggest and most reliable brokers available. But I could be wrong because they have two important awards: Binary Options Leader Best Website 2014 and Best Broker 2014. There’s no information about who gave them these awards, if there were other competitors or what was the criteria on which the award was… awarded. So for the time being I will assume the normal thing: they liked the look of these awards and they decided to award them to themselves. Until they offer some information I will assume these awards don’t mean anything and are just some pics on No1options’ website.

 

Having spent a few good hours on this broker’s website, I can say I have mixed feelings about them: they are not the worst, but they cannot be called leaders of the industry and I cannot give them my full trust. That has to be earned and only time all tell if they can live up to the expectations.

 

Is No1Options a Scam?

A couple of things raised my suspicion: first of all their owning company has the same office address as Magnum Options and BTG Option. This address is also shared with many other companies. Check this link to see how many: http://www.endole.co.uk/company-by-postcode/nw11-7tl. This could be unimportant but I thought I should mention it. Second, the increasing number of complaints and Guilty case over at FPA certainly suggests no1options could be a scam, or at least a warning sign for newbie traders. See complaints section below as well.

 

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No1Options Complaints

It’s very easy to search for complaints on Google! Simply type No1Options and the following words: Complaint, scam, suck, fraud, etc. Look into forums, comments, inner pages. Don’t worry, we’ve already done the research for you! When we search for no1options complaints, we’ve found a few Guilty cases over at FPA court, a few complaints against a specific account manager whom described as “charlatan” and “fraud”. These complaints raises the alarm bells, you should be aware before you go ahead and open an account here!

 

No1Options Bonus

Their bonus for first deposit goes as high as 200% for the VIP account and for the lowest account you will get a 25% bonus. We recommend to carefully assess if you want to accept such a huge bonus. The required trading volume before you can withdraw is 30 times the bonus. This is pretty average for the industry.

 

No1Options Withdrawal

Withdrawals can be conducted through the classic methods (Credit Card, Wire transfer and e-wallets) but you will need to provide personal IDs which is normal. Wire transfers will be charged a 25 USD fee and usually take up to 5-7 business days according to their website.

 

No1Options Extra

I’ve seen this feature before but I still consider it an extra for now: the Strategy Advisor. This is a little box in the lower corner of the trading platform which gives you trading advice based on RSI, Moving Average or Bollinger Bands. Its profitability or accuracy is unknown.

 

 

No1Options Ratings

User Friendly 15/20

The website is well-structured and is translated in eight languages which is satisfactory. The Spot Option platform is already known to be intuitive and user-friendly so they score good points for this category.

 

Number of assets and expiry times 18 /20

The basket of assets is composed of 12 currency pairs, 19 stocks, 7 commodities and 20 indices, more than enough for traders to find good trading opportunities. The expiry times are the usual seen on the Spot Option platform and include both fast trading (60, 90, 120, 180 sec), intermediate (15 min, 30 min, hourly) and long term (end of month, end of year). You can also find Ladder Options, Ore touch and a social feature named iFollow.

 

Commissions, Support and Effective return 14/20

There are no commissions to open an account but a 25 USD fee is charged for wire transfer withdrawals. Live Chat support wasn’t available for the entire duration of my visit, which by the way lasted from morning GMT until afternoon GMT. Effective return ranges between 75% and 89% while refunds for unsuccessful investments go up to 10%.

 

Deposit, Payment and Bonus 11/20

The minimum deposit is 500 USD which is too much in my opinion and if you want to be a VIP you’ll love to come up with 50,000 USD, which is again too high. Both deposits and withdrawals can be performed using the usual methods like Credit Cards, wire transfers and e-wallets (Skrill, Netteller, Ukash, etc.). The bonus goes up to 200% for VIP accounts and 25% for the smallest account. A trading volume of 30 times the bonus is required before withdrawals can be made.

 

No1option Extra 13/20

They don’t have many features that could be considered Extra but I have to mention the Strategy Advisor and the social wall iFollow. However, these are Spot Option features and No1option doesn’t get credit for them.

 

No1Options Overall Ratings: 71/100

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