Flip Options Review: flip-options.com a Scam Broker - Topedgefx.com

Flip Options Review: flip-options.com a Scam Broker

Welcome to the Flip Options review.

Flip Options is a Forex, CFDs and Binary Options broker offering 3 account types and restricting minimum deposits to $350.

They can be contacted using the phone numbers +1 829 9476391, +1 661 709 3762 or +1 518 468 1436. Support via live chat and email is also available for all customers.

Flip Options claims to be a regulated Forex and Binary options broker but the truth is, this broker is unregulated and was recently added into the Financial Commission blacklist.

They seem to provide a wide variety of instruments besides Forex and Binary options since the broker also claims that they are offering Crypto for trading as well.

Flip Options review

Flip Options offers leverage of up to 1:100 while the minimum amount of money that traders can place a trade with is 10 cents.

We assume that this refers to their binary options products because in Forex trading, brokers use lot sizing instead of the minimum amount that can be invested in a trade.

In addition to this, the broker supports a number of deposit and withdrawal methods from their platform.

They promise traders that withdrawals are processed in 1 hour and copy trading is also available for the less experienced clients.

Is Flip Options legit or a scam broker?

Definitely this looks like a corny broker considering that their website has a lot of red flags which we should take very seriously if we don’t want to lose any money.

Flip-options.com review

We start this Flip Options review by highlighting the features in their account types.

[tabs][tab title=”Bronze”]

  • 24/7 live video chat support
  • Withdrawals in 1 hour
  • 20% bonus
  • Demo account
  • Copy Trading tool

[/tab] [tab title=”Silver”]

  • 24/7 live video chat support
  • Withdrawals in 1 hour
  • 50% bonus
  • Demo account
  • Copy Trading tool
  • Master class (web session)
  • First 3 risk free trades*

[/tab] [tab title=”Gold”]

  • 24/7 live video chat support
  • Withdrawals in 1 hour
  • 50% bonus
  • Demo account
  • Copy Trading tool
  • Master class (web session)
  • First 3 risk free trades*
  • Personal success manager

[/tab][/tabs]

Flip Options review: Regulatory status

Flip Options says on their website that they are a regulated broker.

If this is so, they should list their license number and the regulatory organization that gave them the authority to provide financial services.

They tell investors that Flip Options is owned and operated by a company known as Cent Projects Ltd.

Cent Projects Ltd is located in lbert Street Victoria, Mahe, Seychelles. Cent Projects Ltd is the property of (Finance Group Corp) FGC, holding financial services, an entity they claim is regulated.

The interesting thing is that Finance Group Corp in collaboration with Cent Projects Ltd were recently involved in scamming a resident of New Zealand where they illegally held funds of this client.

According to FMA of New Zealand, both companies approached a resident via Instagram with the intention of promoting their scam websites, 24startrade.com.

The FMA says neither FGC nor Cent Projects Ltd has any authorization to promote their services in New Zealand.

Therefore, all of this means that Flip Options is the other trading name of the two offending companies which are clearly unregulated.

Financial regulators are now asking traders to exercise precaution when dealing with Startrade.com or its associates, in this case, Flip Options.

Also, when traders deposit funds with an unregulated broker, they are essentially saying they want to be scammed.

This broker is obviously not regulated and so any trader who signs up is setting himself up for frustrations. The trader will not enjoy the benefits that come with trading with a broker that is fully regulated.

For example, a regulated broker will provide compensation or insurance in case the company goes bankrupt. It is required by the financial regulators.

Most of these regulators also insist that brokers must set aside a certain minimum operational capital at all times.

Thirdly, funds of clients are supposed to be held in a segregated account rather than the company’s own accounts.

Unfortunately, unregulated brokers such as Flip Options don’t follow these rules because the intentions is to scam traders right away.

No MT4 Platform yet Flip Options says they are a Forex broker

If this broker is truly offering trading in currencies, they should inform traders in advance whether or not they provide MT4 platform for trading.

Unfortunately this is not the case. The broker’s website does not talk about this at all.

Traders love MT4 trading platform because it’s robust and compatible with good expert advisors that automate trades and make work easier even for the less experienced investor. 

Flip Options appear to be offering the standard binary options trading platform for call and put trades.

This also means that the talk of spreads or commissions should not be there at all.

Flip Options does not say whether they offer trading services to clients of the Islamic faith.

Deposit and withdrawals

They support a wide range of deposit and withdrawal methods not limited to MasterCard, Visa Cards, Cryptocurrencies, Neteller and Vload.

They’ve not disclosed any fees related to deposit or withdrawals. However, they claim withdrawal minimums must be $100, which is not fair by the way.

Assuming you have lost your initial deposit and want to withdraw whatever amount that is remaining, Flip Options will never allow you to.

This is the same thing that unregulated brokers such as SGT Markets, FX Global, Ogam Forex, Nexo Group and many others will do to spend your money.

Conclusion

Flip Options is not a regulated broker and thus all traders who sign up to make a deposit will be begging to be scammed.

They also don’t have Forex brokers as claimed. This is just a deception to get them customers.

Thirdly, the companies associated with this broker have been involved in scamming traders before.

And of course getting a warning from two financial regulators is never a joke.

Stay away from this shady broker.

Thanks for reading this Flip Options review. Please leave your comments behind.

Leave a Reply