Is there a Prestige Option scam? Some people are still reluctant to trade binary options online, but is this reluctant attitude justified? Can you make money with Prestige Option? It is time to answer these questions.
In this article, you will learn:
With this information, you will be able to judge for yourself whether you consider Prestige Option a trustworthy broker.
The first thing many people are afraid of when they sign up with a new online broker is that this broker will steal their money. Luckily, there is no reason to fear for your money with Prestige Option.
Prestige Option is registered with several government institutions that monitor every aspect of Prestige Option’s business. Aside from the Cyprian Securities and Exchanges Commission (CySEC) that many brokers are registered with, Prestige Option has also registered with the financial control institutions of Germany (BaFin), France (Regafi.fr), Consob (Italy), AFM (Netherlands), and FCA (United Kingdom).
With that many financial control institutions monitoring Prestige Option, you can be sure that they will never do something illegal.
Additional, these government agencies are all part of the European Union, which means that they enforce the European Union’s thorough legislation on banking issues. Compared to some online businesses that claim government regulation but are really registered with a government in Central Africa that they have paid to get their seal, Prestige Option chose to register with those agencies that offer you to the most protection that you can get.
Prestige Option is offering an honest trading business without foul play. Their entire service is 100 percent trustworthy, and you can rest assured that you can get your money back at any time you want.
Verdict: No scam.
The second way Prestige Option could be trying to scam you is by offering too low payouts. If a binary options broker offers you payouts that are so low that you would have to win 90 percent of your trades to make money, your projects of earning money with this broker are merely theoretical.
Luckily, Prestige Option does not employ such tactics. With payouts for high / low options of up to 85 percent and average payouts that regularly average close to 80 percent, you can easily make money with money.
Even if you trade a very safe strategy and only get a 75 percent payout, you would only need to win 57 percent of your trades to break even. Anything above this value, and you will make money.
This is a great offer. What most outsiders fail to realize is that you will always win at least 50 percent of your trades with high / low options, even if you trade randomly. With only two options for what can happen (prices can rise or fall), high / low options resemble a coin flip. In contrast to a coin flip, however, the result is not entirely random – the market offers you with plenty of indications that can predict future market movements.
To make money with Prestige Option, all you have to do is recognize a few of these indications. If you can improve your payouts slightly from 50 percent to 60 percent, you will already earn money. With a little practice and education, this improvement should be possible easily.
Considering how easy Prestige Option makes earning money, they are definitely not trying to scam you.
Verdict: no scam.
So far, we have excluded the possibility that Prestige Option is actively trying to scam you. But what about unintentional scamming, for example as a result of safety leaks? Let’s take a look at these concerns, too.
The first thing we have to analyze is the safety of your account. Prestige Option encodes all communication between you and their platform with the SSL encryption protocol, the safest protocol on the web.
The SSL protocol is not exactly cheap. The fact that Prestige Option has invested money into protecting your communication is a great sign of their trustworthiness. Safety details are boring, which is why Prestige Option can’t use their investment for marketing purposes – they made it solely to protect you. That’s the sort of broker every trader would want to have.
Additionally, Prestige Option employs a thorough validation process for everyone who wants to use a new withdrawal method for you. That means, if you want to use a withdrawal method you have used previously, you can immediately do so without any additional hassle.
If someone wants to withdraw money to an account that you have not used before, however, they have to provide a number of documents only you have, which effectively guarantees that only you can withdraw your money.
For new withdrawals, the person asking for the withdrawal has to provide a picture of you ID, proof of residence, and (if the withdrawal is via credit card) a picture of the credit card. Finally, the credit card or the bank account used for the withdrawal must be in your name. Only you have all these documents and an account with your name, which means that your money is 100 percent safe with Prestige Option.
Verdict: no scam.
Every aspect of Prestige Option’s service is completely trustworthy. They are neither trying to steal your money nor are they offering too low payouts or an unsafe business. If you want to start your trading career now, there is hardly a more trustworthy broker than Prestige Option. Follow one of our links and sign up with Prestige Option now!