RBOptions is an unregulated broker owned and operated by Zulutoys Limited which is headquartered in the Marshall Islands. The number given is 1-647-846-8231 and there are dozens of numbers for local service representatives in countries around the planet. Clearing services are provided by RB Secured Processing Limited located at 22 Wenlock Road, N1 7GU London, England. Zulutoys Limited is also registered under a virtual address in UK, the company number and address is: 09872729, office 3.11, nwms center 3rd floor, 31 southampton row london england wc1b 5hj.
Update 2017: I no longer find any phone numbers, just different email addresses. Customer service’s email is: firstname.lastname@example.org. Further, we fear RBOptions is closing down – find out more below!
Is RBOptions a Scam?
RBOptions is not regulated and also warned against by multiple authorities worldwide. They lack transparency regarding who they are because I could not find any information on them on their website and I had to refer to Google in order to identify Zulutoys LTD as the owner of RBOptions. Their virtual UK address was the only thing I found and that doesn’t mean anything. Furthermore, there are no phone numbers published under “contact us” – only email addresses. They are neither regulated nor allowed to operate in locations they claim to be operating from such as South Africa, Australia, Canada and Sweden which have actually issued warnings against RBOptions. Another sign of scam is the false advertisement mentioning that Yahoo Finance says good things about them which is complete nonsense. All I could find was regulatory warnings, rip off reports and scam alerts. To further strengthen why you should avoid this broker, we also checked their traffic. They have lost more than 5 times their traffic since last year and there was a sharp decline during recent months Jan/Feb 2017 which could mean only one thing – they are ceasing all operations for one reason or another.
Editor’s Note – Why Does RBOptions Suck in 50 Words
The biggest “issue” I have with RBOptions is that they are not regulated, despite being in the business for several years. Moving on to education, although I enjoy the A to Z video lessons, I see that the rest of the education center needs to get “spiced up”. It’s just a few lines in plain boring text. Under construction perhaps? Update 2017: RBOptions sucks because they are warned by so many regulators and now they are closing down.
Why Doesn’t RBOptions Suck in 50 Words
RBOptions used to have a fair reputation as a broker even though they were not regulated yet. It seems they had made some good attempts to help traders reach success. They offered unlimited demo accounts with no strings attached, training and signals for their VIP clients, education, webinars and more. What I really liked was that withdrawals were processed and approved during 3 business days – even for non-VIP members. Too many brokers like to drag this process out as long as possible. For VIP members with larger deposits on the other hand, withdrawals were processed within 24 hours!
Update 2017: RBOptions seems to have ceased their operations. I can’t find the live chat nor the company info. The daily market review was last updated in July 2016, just a month or two before they lost their traffic which is now extremely low! It is best to avoid trading with RBOptions.
Should I Open an Account with RBOptions
RBOptions uses the SpotOption platform which is one of the top platform providers. The platform looks nice, just like any other SpotOption platform so nothing special about it but they have recently added the SpotFollow copy trading option and spot forex. You can choose among, Binary Options trading, Pairs, long term, short term and one touch options.
The expiries vary anywhere from 30 to 60 seconds, 5 10 and 15 minute, daily weekly monthly and even up to 1 year! And if you’ve made a mistake or you simply don’t believe a trade will finish in the money, you can use the “Cancel a trade” feature. However, beware that canceling more than 20% of your trades is considered abuse and any profits will be renounced. Other than trading in pairs and the cancellation feature, the standard account holder can receive a 25% bonus, 3 day withdrawals and the unlimited demo account. RBOptions offers free withdrawals twice per calendar month to Credit Cards for everyone!
Since we did the first review the minimum deposit has been lowered to 250$/€ (from 500) which is now normal. And as I mentioned above, this will give you access to an unlimited demo account and all the features of the platform. Taking a look at their terms and conditions, they seem transparent when it comes to providing information in all areas. As an example, the bonus terms require a turnover of only 20 times the deposit + bonus which is very low considering most brokers set the limit to 40x or 50x times the deposit. However, you cannot withdraw your deposit until the volume is reached, which is clearly stated under the bonus policy.
Update 2017: Despite the goodies mentioned above, we cannot recommend signing up with RBOptions. They should be considered closed due to low traffic and they do not seem reliable due to so many regulatory warnings – even in places they claim to have offices in. Also, notice that the broker is not maintaining the website anymore, the daily market review page has not been updated for almost a year! I can’t find a live chat either and no phone numbers to call. These are signs of a closed broker.
Searching online, we quickly found many scam reports which are further confirmed by multiple authorities as RBOptions has been soliciting clients in various countries without authorization. You can also find them reoccurring in our “scam watch” articles but you can also find complaints below in the comment section.
RBOptions Regulatory Announcements and Warnings
27.09.2016: The Canadian OSC warns Zulutoys and RBOptions and orders them to cease operations. Source: OSC.gov.on.ca
12.07.2016: The South African FSB warns against doing business with RBOptions. Source: FSB.co.za
09.06.2016: Australian ASIC warns investors about dealing with RBOptions which also claim to have an office in Australia. Source: ASIC.gov.au
28.04.2016: Canadian Saskatchewan authority, FCAA, fines and warns Zulutoys ltd and RBOptions for solicitation of clients in the region. Source: FCAA.gov.sk.ca
18.04.2016: FSMA in Belgium warns investors from dealing with Zulutoys ltd and RBOptions. Source: FSMA.be
RBOptions offers bonuses from 25% up to 150% depending on your account. You have to generate a volume of 20 x (Bonus + Initial deposit) to meet the terms and conditions of the bonus before you can withdraw your funds. Since RBOptions allows you to cancel your trades before expiry no canceled trade can be counted as trading volume!
Withdrawals are processed within 3 business days but it could take additional 3-4 bank days before they show up in your bank account. For anyone with a VIP account; using the Money-Booker Skrill to withdraw, you are guaranteed to receive your funds within 24 hours if your request was submitted by 10am GMT. The minimum withdrawal size is 100 Dollars or Euro. You get two free withdrawals every calendar month and after that, additional withdrawals will cost 30$. RBOptions (like any other broker) requires proof of identification and residence before allowing any withdrawals because of their compliance with regulatory anti-money-laundering laws.
User Friendliness 15/20
Everything on the website and the platform is well categorized. You have easy access to support, education, market analysis and the trading platform is easy to use. The colors are nice and comfortable to look at. Edit; you can now choose one of the following languages: English, German, Arabic and Russian.
Update 2017: The daily market review is almost a year old, there is no company info and not much in terms of education.
No. of Assets and Expiry time 17/20
The asset list and expiries are really good. Assets include forex, indices, stocks and commodities with over 100 choices. There are; 41 stocks, 21 currencies, 8 commodities and 26 indices. Expiry ranges from 30 second to 6 months depending on asset being traded. This platform also supports many additional tools such as: cfd, forex, one touch and SpotFollow.
Commissions, Support and Effective Return 11/20
RBOptions does not charge the first two withdrawals of each calendar month but additional withdrawals will cost 30$. There are no fees or commissions for buying options. They claim their support is live 24/7 and offer live chat. I tried it but I never got anyone to chat with. It was during the holidays, but hey, 24/7 means even holidays! On the plus side, the support was addressing the complaining clients on various forums and websites to sort out problems. Finally, moving on to the returns. They are quite high, up to 88% and 80-85% for the major currencies. Update 2017: There no longer is a live chat available, nor is there even an offline chat for leaving messages nor any phone support! You can only email if you wish to contact RBOptions.
Deposit, Payment and Bonus 16/20
Minimum deposit is 250 Dollars which is the typical minimum amount for most brokers. You can deposit via Skrill, CC, Debit Cards and wire transfer which is a real plus. Same goes for withdrawals but using Skrill and holding a Gold Account or higher means you can withdraw within 24 hours! Bonuses require you to generate a volume of 20 times the (bonus + initial deposit) and range from 25% up to 150% depending on your VIP account.
Website Extra’s 12/20
VIP accounts, signals, webinars, one touch options and option builder are a few special services that RBOptions offers. The most important tool is the cancellation feature but you can only use it once in while without getting cut off from trading. Early closure and rollover are also avaliable, as are CFD, forex, one touch and SpotFollow trading.
RBOptions Overall Ratings : 73/100