OptionFM Review

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OptionFM (Inactive) Review

OptionFM (Inactive)

Broker OptionFM (Inactive)
US Traders Accepted
Company Name BO Technologies Limited
Headquarters Belize
Regulation IFSC of Belize
Bonus Type Match bonus
Bonus Size 100%
Max Payout 81%
Out-of-Money Reward 10%
Trading Platform SpotOption
Early Closure
Deposit Options Credit/debit cards, wire transfer, paysafecard, SafetyPay, QIWI, Yandex, WebMoney, AstroPay, Boleto, Moneta.RU
Deposit Currencies US dollar, British pound, euro
Minimum Deposit $250
Minimum Trade $1
Maximum Trade $8,000
Online Since 2020
Trading Instruments Currencies, commodities, stocks, indices
Number of Trading Instruments 78
Binary Option Types High/Low, Long Term, 60 Seconds
Customer Support Types Email, phone, live chat, paper mail
Education Offered How-to pages, eBook, educational sessions, FAQ
Tools Offered Double up, rollover, early close, market reviews, expiry rates, enhanced returns
Commission $100 minimum withdrawal threshold
Languages English
Demo Account Yes, no limits.

OptionFM ceased operating as a binary broker on March 5, 2020. The review below is presented for the archiving purposes.

If you are looking for a binary options broker with an excellent fee structure and friendly bonus policies, OptionFM is well worth considering. “OptionFM” stands for “Option Financial Markets.” This site is operated by a company called BO Technologies Limited and is based in Belize. OptionFM is regulated by the International Financial Services Commission (IFSC). There is no license number, but you can find BO Technologies in the IFSC database here.

Opening an Account on OptionFM

It takes only a few minutes to open an account on OptionFM. Unfortunately the company does not accept USA traders, but investors around the globe are welcome. The minimum deposit is $250 or the equivalent in Euro or British Pound.

You can start with either a demo account or a real account. Opening a demo account is just as easy as opening a real account; there is a form directly on the website, so you do not even need to contact customer service. No limitations are mentioned anywhere on the site with reference to the demo account, so it appears you can use it indefinitely (which is outstanding).

When you go to open a real account, you have the following tiers to choose from:

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  • Newbie: $250+
  • Start-Up: $2,500+
  • Entrepreneur: $5,000+
  • Top Exec: $10,000+
  • CEO: $25,000+
  • Financier: $40,000+
  • Mogul: $100,000+

Even though a lot of these tiers are obviously directed at clients with huge bankrolls, services on this site are not geared exclusively toward the wealthy. In fact, the minimum trade size is just $1. So no matter how large or small your account, OptionFM has you covered.

At the Newbie level, the only extra included with your account is a trading manual. Benefits even at the top levels are fairly vague, however. There are educational sessions and a higher return on investments, but it is hard to guess what some of the other benefits actually mean. Who knows what “Class A” and “Class B” trades are? What could “vacation packages” possibly entail? What is “OFM Rewards Access?” So some of these benefits may not be all that useful, but that isn’t really a big deal in light of the other great advantages that OptionFM offers all traders.

No Withdrawal Fees, No Strings Attached to Bonus Money

One of the best things about OptionFM is that there are no withdrawal fees! There is a minimum threshold of $100, but you can use any withdrawal method you want without worrying about fees stacking up. You can withdraw anytime. Contrast this with a lot of sites which restrict how often you can withdraw and charge you hefty fees just to access your own money.

Perhaps the most unique advantage of OptionFM concerns bonus policies. Like most binary options trading sites, OptionFM provides match bonuses, which range up to 100%. So if you deposit $1,000, the site may provide you with an additional $1,000 to trade with.

Now, most sites attach a steep turnover requirement to bonus money. So if you are given an extra $1,000 to trade with, you have to turn that volume over 30-40x to access it. Worse, you may struggle to access your own deposited money and your winnings. Many sites refuse to pay out your winnings at all until you meet the turnover requirement! Those are some serious strings attached.

If you visit the OptionFM Terms and Conditions page, an example is given where a client deposits €1,000 and is given a bonus of the same amount for a total of €2,000 to trade with.

The trader then makes €500 in profits, so the total amount in the account is €2,500.

Because the trader deposited 50% of the capital, he can access 50% of what is in the account. That means he can withdraw €1,250.

That means he can withdraw his original funds and corresponding winnings anytime.

The only thing that is unclear is whether the bonus money ever belongs to the trader. I assume there is a turnover requirement of some sort for that, but the site does not discuss it. This is a question I would ask customer service before accepting a bonus.

Regardless, there are no turnover requirements for withdrawing your deposit or the winnings which correspond to that deposit. And that is a big deal. Your money is yours!

Trading on OptionFM

OptionFM uses the popular SpotOption platform. On it, you can trade 78 different currencies, commodities, stocks, and indices. Types of trades include High/Low, Long Term, and 60 Seconds. Sadly that is not a lot of variety, and appears to be one of the few big drawbacks of the site. It would be helpful if they would add One Touch, Range, Ladder, and some other popular trade types. Payouts appear to max out at around 81%. Out-of-money refunds are available on trades that you lose.

The trading range is awesome, though. You can trade as little as $1 or as much as $8,000. So you have a real chance here to grow a small account into a big one at a pace which is comfortable for you. You can manage your trades with early close, rollover, and double up. The site also provides market reviews for your convenience.

Conclusion: A Uniquely Advantageous Broker

Customer service on OptionFM is available via email, telephone, live chat, or paper mail. I unfortunately did not get to talk to anyone on the live chat on a weekday during normal market hours. You should definitely call up this broker and make sure you are comfortable with their customer service team before you invest. I do like the searchable FAQ which shows up in the live chat window when no one is there however.

All in all, OptionFM is a unique and exciting broker—definitely not just another SpotOption white label company. There are no withdrawal fees, you can get a demo account to practice your trading, and there are no strings attached to bonus money. With a minimum trade size of just $1, even traders with very small accounts have a chance to learn, grow and thrive here.

OptionFM (Inactive) , 1.0 out of 10 based on 1 rating

Option FM Review

Option FM is a relatively new broker in the binary options world, it was founded in 2020. Despite their short period in the market, they have collected employees from all over the financial world and have gathered a great deal of financial knowledge under their command. This is how they have succeeded to get the trusted broker stamp from their traders and get their name on the surface. In this review, I go through the following things:

  • The most important features of the broker site.
  • The kind of bonuses that are available for new traders.
  • The kind of option types and payouts that are offered.
  • Other important factors such as mobile trading and educational materials.

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    Video Review

    Option FM in a Nutshell:

    • Broker: Option FM
    • Platform: SpotOption
    • Founded: 2020
    • Bonus: 100%
    • Return / refund: Maximum 91%
    • Number of assets: Around 200
    • Regulated by: CySEC
    • Demo account: Yes
    • Mobile trading: Yes
    • Minimum deposit: $250
    • US traders: Not accepted


    Trading platform view is clear and functional. Trades are efortless to execute.

    Special Features of Option FM

    Option FM, as stated, is a licensed broker and is regulated by CySEC from Cyprus. Because of that license, their actions and site can be trusted 100%, whether it is observed from the money transfer perspective or from the view of customer service helpfulness and willingness to resolve any trader’s concerns.

    On the other hand, as the site is under that license, Option FM cannot accept US traders. That is a common problem among European registered and licensed brokers because the EU legislation does not allow brokers to accept customers from the US. If you live in the United States, I recommend that you try one of these trustworthy US friendly broker sites:

    • Bloombex: Register now and you get to trade risk free for a week.
    • Porter Finance: Great US friendly broker site, register now and you get up to 10 risk free trades.
    • CTOption: Great trustworthy broker site with a one of a kind iFollow feature.
    • GOptions: One of the oldest broker sites, trusted by hundreds of thousands of customers from all over the world.

    Bonuses and Account types

    Option FM bonuses are simple; all account types are supported by an 100% initial deposit signup bonus. That means that by depositing $1000 your account will instantly have $2000 worth of assets to trade. This is a very generous offer for new traders. Actually, it is one of the best in the industry, as even the smallest minimum deposit starts with a full 100% bonus. Many other brokers offer less bonus money for smaller deposits and only the upper account types are supported with 70-100% bonuses.

    The actual account types are named Trial, Boutique, Executive and Imperial and the higher you go, the more additional features those accounts will provide you as a trader. Each of the following accounts includes all the features of the previous one. Let’s look at those more thoroughly.

    Trial Account: Deposit €250+

    • 90 assets available to trade
    • Four trading platforms
    • Daily market analysis
    • No service fees on commissions

    Boutique Account: Deposit €1,000+

    • All the above features
    • 100% deposit bonus
    • Trading webinars
    • Customer support
    • 1-on-1 training sessions
    • Trading ebook
    • Risk management training
    • Weekly analyst performance review

    Executive Account: Deposit €10,000+

    • All the above features
    • Daily trading signals via email, chat and mobile
    • Direct access to a broker
    • Priority access to online webinars
    • Free subscription to financial magazine

    Imperial Account: Deposit €50,000+

    • All the above features
    • Direct line to VIP brokers and analysts
    • Investment insurance
    • VIP educational program
    • Concierge and travel service

    Account types and suitability for different types of traders.

    The minimum deposit is €250 and the minimum trade is as low as €1 which is exceptionally low compared to many other brokers, typically minimum trading amounts are between €5 and €20.

    The Trial account will serve beginners for their basic trading needs but if you take trading seriously and the purpose is to make money with binary options trading we would absolutely recommend you upgrade to the Boutique account right away. It has vastly greater features, for example: webinars, customer support, 1-on-1 trading sessions etc. Also, the ebook is very handy to read and will help you pick up the most important pieces of advice.

    The weekly review from the analyst and risk management training courses are very useful also. All this is vital knowledge if you wish to turn trading from guessing, to truly considered actions with money and profits in mind.

    The Executive account continues with even more features than the Boutique account but it requires a significantly larger deposit to achieve. But those who can make a deposit of €10,000 or more will get direct access to broker and daily market signals. These are surely helpful features but are they enough to make a €10,000 deposit, we will leave that decision to you.

    Demo Account

    Option FM will provide a demo account for practice purposes but due to their extraordinary low minimum trade amount of €1, the demo account feature is practically unnecessary. By risking €1 at a time, for a single trade, it would not cause much harm if you lose at the beginning. As the trading platform becomes familiar, trades are super easy to execute. If the demo account still feels tempting, fortunately there is one to practice with. Our recommendation is that after reading some material and getting some basic knowledge, you can start trading directly with real assets.

    Trading with Option FM, Profits and Payouts

    Option FM offers one of the highest payouts in the binary options industry, especially with the regular options. The payouts are as high as 91% for invested money in winning trades. For one touch and ladder options there are even higher payouts available, up to multiple times the original traded amount. Long term and 60 second option types are also available.

    Option FM does not seem to have an early close in its repertoire which is a slight downside from a risk management perspective.

    The selection of assets to trade in is wide and typical. With the SpotOption platform, it is offering approximately 200 different assets for trades. These include stocks, indices, commodities and currencies. Stocks and indices are gathered from the largest stock markets around the world and the currency list has pairs of the most liquid currencies. A comprehensive list of assets is shown on the site. The commodities list is wider than typical, including coffee, corn, gold, silver, platinum, sugar, wheat and oil. Most competitors only have few of these available.

    The expiry times are similar to other brokers with the SpotOption platform. The times start from seconds and go all the way up to more than 12 months. The variety of expiry times will leave enough room for traders to make investments for any desired time period. These will also help to divide the risk of your portfolio with shorter and longer term trades.

    Support and Services

    It is odd that the Boutique account is the first one that has 1-on-1 support features. The live chat is available for everyone. Also, the email and phone support are provided with multiple languages to everyone. There is somewhat mixed information on the site, but in our test, we were able to get answers to our questions easily, even with the Trial account, so you should not worry about that too much. If you need personal 1-on-1 interactions with a support manager, you will need to get at least a Boutique account.

    Educational material and news

    Option FM does not have a separate education center or academy for its traders. What it does have is the market news section which is stuffed with global news about companies, their announcements and rumors. This market news section gives a lot of information related to stocks and indices and helps with decision making.

    Even if Option FM does not have an academy and material they have a more personal touch with their traders, they offer a lot of webinars, signals, analyst comments and information.

    They give their best expertise to traders to help them have an enhanced trading experience overall. They will assist traders with their combined years of experience from the finance world. This personal and tailored guidance is a much better option than an educational section with video previews. Direct contact with account managers is always more personal. Account managers are hired by Option FM from other binary option brokerages, investment analysis platforms and hedge funds.

    If you think that trading should be effortless and you don’t like to study strategies and follow the markets every hour, then automated trading might be a closer match to your preferences. In that case, we recommend binary option robot which trades for you once you have set it up. The Real Robot trades for you even when you are not around. Open a free account now and see how amazing this free software is!

    Also check out these other articles about free binary options auto traders and robots:

    • Binary Option Robot Review(Best free trading robot)
    • PayDay FM(Excellent signal provider software)
    • Option Bot 2.0(One of the most famous binary option robots)
    • Copyop (Social trading, earn money by copying others)
    • Binary Stealth(New accurate signal provider)

    Mobile trading

    Option FM does have a full version mobile platform compatible with Android and Apple products. It sets traders free from laptops and gives easy access from anywhere that you might have a phone or tablet with you. The mobile version is available at Google Play and App store. All you need to do is create an account with these links and then download the app to start trading. Trading with those applications could not be easier.

    The banking options are numerous with Option FM.

    Banking

    Banking is one thing that needs to be secured and fully trusted by traders and the broker. Option FM does that right and offers numerous depositing options covering online wallets, bank wire and credit cards. The minimum deposit is $250 or €250 and the minimum withdrawal is €80. Withdrawal requests are processed within 24 hours and that’s quite fast, compared to rivals. Available methods include the following: Visa, Mastercard, Amex, bank wire transfer, Skrill (formerly Moneybookers), PayPal, CashU, Maestro, Visa Electron, Ukash, WebMoney, Inpay and Neteller.

    Conclusion

    Being a licensed broker helps to gain trust right from the beginning. Option FM has done many things properly. From my perspective, Option FM is a great broker site genuinely helping its traders with a personal touch. The Payout percentages are some of the best in the industry. I would definitely recommend this broker site to every trader who wishes to earn money with binary options.

    As an overall rating, we will give Option FM 3,5 stars out of 5 as a binary options broker site.

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