Bitcluboption.net is a binary options and CFDs broker operating from Beachmont, Kingstown, St. Vincent and the Grenadines.
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The problem with Bit Club Option and other offshore brokers is that they’re not regulated.
Yet they continue to offer financial instruments for trading while targeting traders from across the world including the United States.
Minimum deposit required to open an account at Bitcluboption.net is $500.
There are 330 trading instruments and a deposit commission of $20 applies.
I’m not sure what this deposit commission is for.
In addition to this, Bit Club Option offers LAMM accounts (for copy trading) and investment portfolio where 26% monthly return is to be expected.
Is Bitcluboption.net legit?
No, this broker is not legitimate. The following reasons are why the broker is deemed to be risky to trade with.
First off, the minimum deposit is very high and typical of scam brokers that want to rob a lump-sum amount at once.
Most brokers of this caliber require $250 and others even have their minimum deposit at $50.
This is not the case with Bit club option.
Furthermore, the broker is operating without a license which makes it easier for them to steal from their clients.
They have nothing to lose.
Thirdly, you can see that St. Vincent and the Grenadines is an offshore location. Nobody wants to trade with an offshore broker because of the risks associated with them.
Should you invest with Bitcluboption.net broker?
You shouldn’t bother because $500 is a huge amount. Furthermore, the high monthly returns associated with their portfolio management account is unrealistic.
Only scammers can promise 26% returns every month which they will never deliver.
Conclusion
Thanks for reading this Bitcluboption.net review. There’s nothing to invest here.
The broker is not known and their experience in the industry cannot be scrutinized.
This your typical run of the mill scam. Stick to the recommended trading products and if you need a good broker, this page has our listing.
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Definitely a scam! I am a victim of theirs.