SG Option Review Is A Scam Forex Broker

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Does 53Option Offer a Demo Account?

53Option claims to provide a Demo account and risk free trading to its clients, but is this really true?

According to our team’s research, 53Option does NOT provide demo accounts. We also found out that they do not rate highly in Google Trends and there is no significant data about them. As an alternative we selected the top brokers that provide a Demo account for free.

Top10BinaryDemo cannot confirm that 53Option can offer you a demo account. In order to avoid risking real money you can OR choose from the Top Demo Brokers:

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Top Brokers with Demo Account:

53 Option Review

The Forex industry is full of pitfalls and unexpected failures due to the high number of scam brokers and scam robots. Another thing that enables scammers get their way is the lack of information and knowledge in people who would want to trade with Forex.

Our lengthy investigations are being summarized in reviews with informative purposes. We want to help you with your choice and to make a reasonable decision. The following review discusses the legitimacy of the 53Option brokerage. If you have any question concerning 53 Option, you should keep reading in search of answers.

Is 53 Option a Scam?

53Option is a trading platform that is offered to private and institutional traders as a platform for Forex investments. It is fairly new in the market and there is not enough information that can allow us to determine with 100% certainty whether 53 Options is a scam. We found a number of mixed opinions – some investors are satisfied with the offered services, other report problems with the support team and the payment methods. For now, we think it would be better to avoid 53Option and instead join a proven to be reliable broker.

53Option – Demo & Account Types

53Option offer you the opportunity to choose from four account types. Once you sign up, you get access to market reviews, 24/7 support, account manager and a free app to trade on the go. The lower two account types come with withdrawal fees, while the upgraded VIP and Diamond accounts include no withdrawal fee. The accounts are:

  • Standard – the minimum deposit is $250;
  • Premium – the minimum deposit is $500;
  • V.I.P – the starting deposit is $2,500. The account provides you with signals and grants you access to trading sessions with experts.
  • Diamond – you can open a diamond account for $10,000. It offers you a premium training package and comes equipped with expert wealth and account managers.

53Option does not offer a demo account – a crucial element that a reliable brokerage should be able to provide. That is why we do not think 53 Option can qualify as a reliable trading partner.

Special Features

53Option does not seem like a broker that has special features to offer. Its educational center is empty and traders can access free training resources only after they open and fund a trading account. On the other hand, quite often Forex brokers turn out to be reliable later on. 53Option is still quite new and there is time for it to develop qualities to make it a good trading partner. For now, you can choose from better alternatives.


After our research we concluded that 53Option does not provide a demo account.

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The lack of practice account and risk free trading makes this broker unsuitable for traders who want to learn how to trade without losing their investment.

IQ Option Review

IQ Forex Broker

Nowadays IQ Option is one of the most popular online trading providers and the greatest popularity it has in Eastern European countries. This broker tries to be sufficient, so it provides account opening with a very low deposit (10$) while maintaining a very high level of qualified service. The company was established in Cyprus in 2020 and further regulated by CySEC. Up-to-date principles of this broker attract many modern thinking traders. IQ Option clients include traders of all levels specializing in Forex, crypto, CFD trading. Review

Also in this IQ Option review we should mention about awards. The broker won Best mobile platform IFM Awards, 2020 Award of Excellence by Academy of Interactive & Visual Arts, Century International Quality Gold ERA Award from Business Initiative Dicrections Group, Best technology application by The Web Marketing Association and so on. Today IQ Option offers a very attractive platform, which is available on your mobile devices. When using IQ Option platform you can trade dozens of assets. Furthermore, you will be satisfied with IQ Option withdrawal, which takes only 1 working day.

Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.

Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.

Binary/Digital options are not promoted or sold to retail EEA traders. If you are not a professional client, please leave this page.

Minimum Deposit $10
Maximum Deposit $1000000
Bonus Not Available
Minimum Trade Size $1
Trading Platform Broker`s trading platform, Mobile Platform
Account Types Real, VIP Account
Demo Account
Islamic Account
Account Currencies EUR, GBP, RUB, USD
Payment Methods
Withdrawal Fees Depends on the payment method
Traders From USA
Forex Trading
Forex Broker Type Market Maker
Maximum leverage 1:1000
Spreads type Variable
EUR/USD spread Variable
Bitcoin Trading
Maximum number of positions Unlimited
Mobile Trading
Trading Signals
Automated Trading
Options Trading
VPS (Virtual Private Server)
One Click Trading
Stop Loss (No Slippage)
EA (Expert advisors)
Clients Funds Segregated
Education Center FAQ Video Academy Video Tutorials
Options Trading
Option Types 15 Minutes, 60 Seconds, Classic Options, One Month, Turbo Options
Return Rates 92%
Safety Net Up to 45% return in case of a wrong prediction in Real account
Touch Options (Max Rates) 0%
Educational tools Video Tutorials Beginner Video Academy Beginner Video Tutorials Intermediate Video Academy Intermediate Video Tutorials Advanced Video Academy Advanced FAQ Extras
Assets Commodities, Forex Pairs, Indices, Stocks, Crypto,
Commodities Gold, Silver, Gold/USD
Indices DOW JONES 30, S&P 500, NASDAQ 100, NIKKEI 225, DAX 30, FTSE 100
Customer Support
Email [email protected]
Contact form
Live Chat
Call Back
Support Hours 24/7
Supported Languages

Cyprus Securities and Exchange Commission


Depends on the payment method

Up to 45% return in case of a wrong prediction in Real account

Touch Options Payout (Max)

IQ Option Withdrawal

IQ Option platform is integrated into a high-tech customized website for traders to use straightforward instruments in their browser. The broker added several innovative features that help investors to monitor and control their trades with efficiency. Users can follow up to 4 charts simultaneously in the same window and just wait for the right moment to invest. They can see all their trades in a single picture with the most important details like amount of output, size of investment and duration of the trade. All the images are automatically added to their social network profiles. When trading it is possible to see the list of the most successful traders and deals, so you can follow others just to get an idea about trading or market analysis.

This broker offers over 500 assets that are available at different time of a day depending on the working hours of exchanges. With IQ Option you can trade these assets with practical and user-friendly instrument.

As a step up in trading experience, broker offers Turbo Options with the expiration term of 60, 120 and even 240 seconds. In our review our team can certainly say that the difference in experiences is substantial because such option decisions should be made in a matter of split seconds.

Finally, IQ Option does not offer a very wide range of instruments. But, even with all considered things, the great advantage is IQ Option withdrawal amount of $2. Maybe, very sophisticated and demanding traders will find other platforms more interesting, but it will be more than enough for traders.

IQ Option withdrawal is supported by a variety of options: VISA and MasterCard, Skrill, CashU, Moneta, YandexMoney, Liqpay, QIWI, PayPal, Webmoney, PoliPayments, Wire transfer etc. When visiting IQ Option web-page you may notice a very interesting feature, namely, a special tournament (Subject to Terms & Conditions) organized for all traders. Every day there is a competition between traders and if you make the right predictions, you can gain a grand prize. Amounts can be rather different starting from $250 and up to $17 000 and more.

Also in our IQ Option review we have to highlight the IQ Option interactive education system. Educational videos on different topics and how to enhance and sharpen skills are available for traders upon registration.

IQ Forex and CFD

Emanating from its experience, IQ Option decided to enter the Forex and CFD market, equipped with lots and lots of Forex features in order to open new markets for its clients. Starting as usual from the IQ Forex low minimum deposit of 10 USD and lowest ever minimum position size starts from just 1 USD (0.01 lot) with IQ Forex Broker.

IQ Forex trading accounts are:

The real account and the VIP account available fro registering upon request with a deposit of 3000$, along with the free of charge Demo account.

IQ Forex Broker offers around 27 currency pairs from EUR/USD to USD/SEK in addition to CFD on Gold and Gold/USD. IQ Forex and CFD spread variable which suits the long-term traders, EUR/USD minimum spread is 0.5 pips. Leverage up to 1:1000 on IQ Forex and CFD.

IQ offers two types of platforms: Desktop platform and Mobile platform, but unfortunately doesn’t offer the famous MT4 yet. However, while trading on IQ Forex broker platforms, traders are allowed to use scalping, hedging and one-click trading along with great trading features such as automated trading and trading signals.

In addition to Forex and CFD trading offered by IQ Option, the broker presents its client with the opportunity to trade on up to 12 crypto currencies such as ( Bitcoin, Monero, Omisego, Bitcoin Cash, Santiment, Dash, Litecoin, Ethereum Classic, Ripple, Ethereum, Zcash, IOTA).

IQ Forex broker has won a lot of trading awards such as Best mobile platform IFM Awards, Best technology application The Web Marketing Association and Century International Quality Gold ERA Award and many more.

IQ Option Demo

IQ Option is one of few brokers in the marketplace who offer a demo. With IQ Option demo you can try basic features to build up your experience and get to know more about financial market before investing real money.IQ Option demo account holder can trade only 13 assets with some limited opportunities.

If you have any questions or you need a consultation, after reading this review, then you can get in touch with broker’s representatives in order to get fast and professional assistance. You may use web-form, email, on-line chat or phone for this purpose. Customer support is provided in several languages, including English, Russian, Chinese, Spanish, Portuguese, Indonesian, Turkish, Italian, German, Korean, French, Swedish, Norwegian, so you won’t have any troubles with getting assistance in your native language.

It worth mentioning that Traders can trade on the Demo and the real account simultaneously as both accounts are combined into one account for traders to switch between them when needed.

IQ Option Account types

We should also mention in our IQ Option review about two types of live accounts.

Real Account: in order to open it you should make an initial deposit of at least $10. It’s very comfortable especially when you are not ready to invest a substantial amount and want to try the real feel of trading. Real Account holders can enjoy such benefits. It takes one working day to process your IQ Options withdrawal requests and there is no fee or commission charged for transactions except for wire transfer in the amount of 53$. Every trader has a full access to all opportunities.

VIP Account: if you are going to make an initial deposit of at least $1000, then you are to become a VIP Account holder. Therefore, you will get access to such benefits and features as personal manager, monthly analysis of all your trades with your personal manager and much more. You should note that withdrawals are processed within 1 business day.

IQ Option Scam

Up to date there is a lot of scam providers, and sometimes it seems that every new platform tends to be fraudulent. In IQ Option review we decided to find out whether there are any IQ Option scam complaints. This broker is not a newcomer in the business and is very popular in Europe, Asia and South America. But despite such territorial predisposition, thanks to its outstanding platform and a variety of assets, it has a lot of customers from all over the world, and therefore, it always tries to provide the highest level of services. And you should remember that the higher is the status and number of its users, the more reliable is a company. Furthermore, this company provides all users with an IQ Option demo account, so that they could try a platform for trading and its capabilities.

Up to date, the greatest number of complaints about the scam are because of two reasons: unregulated brokers and inexperienced traders. And you should always firstly check the broker on its competence before you make a deposit.

IQ Option company is CySeC regulated and known as a legit broker. In the case of inexperienced traders who are spreading rumors about IQ Option scam, we should remind that one should always read broker’s terms and check one’s every move connected with a deposit. And given the fact that investments and withdrawals can be performed through different ways, each customer can choose the most transparent and the most suitable method for himself.

There are some negative reviews that the broker too meticulously checks documents for financial transactions. But just think, it is done for the security of your savings.

LiteOptions Review – is scam or good forex broker?

Beware! LiteOptions is an offshore broker! Your investment may be at risk.

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

LiteOptions is an offshore brokerage which provides its own web-based trading platform. The brokerage requires a minimum deposit of $250, which is the industry average, and provides clients with a wide range of payment methods, including many e-wallets. Further trading conditions, however, are unclear and the brokerage chooses not to offer a test-drive of its platform.

LiteOptions regulation & safety of funds

There is much uncertainty about the corporate information since it has conflicting statements. LiteOptions is supposedly owned by the company Algobit LTD, registered in Mahe, Seychelles, which is acting on behalf of Vanuatu-based company Finance Group Corp. The government of Vanuatu does regulate Forex trading through its regulatory body Vanuatu Financial Services Commission, however, Finance Group Corp. is not among the licensees of the regulator. We find no other mention of a license in the brokers website and that shouldn’t shock us if we have in mind the brokerage’s address. Seychelles is among the most favorite locations for offshore brokerages due to lenient registration requirements. Algobit owns and operates another broker brand – WorldcapitalFX – which have very similar websites and both do not extend a test-drive for interested traders. Both also provide a sort of web-based platform which we got a glimpse of through signing for a real account. Here is a screenshot:

It doesn’t look very neat, on the contrary, it appears quite fake. Furthermore, while researching the brokerage we came upon an official warning issued by the Cyprus Financial watchdog – CySec. On it we read that LiteOptions, just as Worldwide Capital FX, is providing financial services without proper authorization from the relevant authorities and further is taking part in scam operations. It appears Algobit Ltd is running two exposed shady websites which target traders in Europe illegally and outside the law.

We advise traders to only trade with regulated and legitimate Forex brokerage in order to exclude any risk from their transactions.

Prestigious regulatory bodies, such as the UK’s FCA and CySec, require compliance with a number of strict rules that give significant assurance for the safety of the clients funds.

The segregation of accounts is among the rules which are especially important in the trading world, because it drastically lowers the risk of possible commingling.

Another is the participation in a compensatory scheme by which the client’s losses will be covered in the unlikely case the broker goes bankrupt or attempts to scam traders.

LiteOptions deposit/withdrawal methods and fees

Potential clients of the brokerage have a wide array of payment methods available to them. They may deposit or withdraw via Bank Transfer, Credit Card, Neteller, Skrill, Perfect Money, Vload, Bitcoin, WebMoney, QIWI, Yandex, Payoneer, OK PAY

Furthermore, we read in the Terms and Conditions that there are nasty withdrawal conditions. To be able to claim a withdrawal one must first achieve 100 per cent turn-over on his trading account – meaning he has to trade the amount of his initial deposit or more to be eligible for withdrawal. There is also a withdrawal fee of $50 for wire transfer and a 20% maintenance fee which is quite excessive and certainly not favorable for traders. We must remind readers of all the ways a trader may test the brokerage’s intentions. Firstly, traders are advised to always put up only the required minimum deposit, instead of risking a bigger amount with no certainty. Afterwards, they may also try to withdraw a small amount in order to check for any unexpected fees or delays. Such fees and delays are usually the signs of a scammer.

How does the scam work?

Scammers mostly rely on vulnerable and easily tricked people, that is why a well-informed trader is, perhaps, their most difficult target. That is why we believe all traders should be well-versed in the different ways of the scam. Here is the most popular one:

In most cases through clicking a tempting ad with promises for quick and easy profits, you will be redirected to a website like Crown Signals or Top-Algo Trade where registration will require your address, email and phone number. Your personal information will be immediately shared with brokers in call centers who are just waiting for fresh leads. After a few minutes on the phone listening to the whole prepared brokers pitch , you decide to deposit some $200-250. And just like that –a 25 per cent commission gets wrested from the initial deposit by the broker on the phone.

After stinging you for a few hundred bucks, senior scammers will take you up and begin pushing you to further invest. You may even budge and continue investing. At some point, however, you’ll probably begin to consider closing the account and getting back your money.

However, now comes the “recovery” part of the scam. After stating that you wish to withdraw your money, it will be high time for the “recovery people” to take it from here. They will begin further stalling in any way possible in order to remove the last guard you may have – filing a chargeback with your bank. This options expires for good after six months or more have passed since the initial deposit.

What to do if scammed?

A scam could happen to anyone, including you, and, in such a case, it would be best to know what options are still available to you. That way you’ll be certain your reaction will be adequate and on spot.

You may contact your bank or credit card provider and file a chargeback, but only within six months of the initial deposit, as was noted above.

If however you have provided the broker with your credit card details, immediately cancel your credit card.

If you have given information regarding your online banking pass – you should change it asap!

So-called “recovery agencies” should not be trusted! Such agencies target scammed and vulnerable traders in an attempt to further swindle them into giving away their money. They will require from you an “up-front payment” in order to get your money back, but no such thing will happen!

Best Binary Options Brokers 2020:
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    Free Demo Account!
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  • Binomo

    Good Choice For Experienced Traders!

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