So, I have been checking out some of the popular binary option trading software available and Interactive Option seems to have it all. The website looks completely legit, no videos and fake testimonials, they are regulated by the CySEC, and overall if you check out reviews online it’s flooded with happy customers. What could possibly be wrong with this website!?
Usually there are lots of things that can be pointed out to show how a specific website is a scam by simply scanning it over, but smarter marketing and better website design in general can completely mask a scam. For this website I turned to forums, to small details, and reliable sources for information.
What is Interactive Option?
They are a binary broker since 2013, owned by Pegase Capital LTD. Although they really are regulated by the CySEC, it’s important to note that they have not been regulated for all that long thus not allowing enough time to conclude that they are actually legitimate. They work with the latest SpotOption trading platform where you can trade a number of options including binary options, pairs, long term, turbo trade, one touch, ladder, and forex.
When it comes to deposits and withdrawals they provide numerous options as long as you remember that you can withdraw via the same way you deposit. Also, there is a 5% withdrawal fee. What I love most is that for deposit they don’t necessarily require any information except for payment method. Of course, upon withdrawal the process is much more difficult and complicated. Unlike others though, the withdrawal process is rather long 7-10 days plus another 7-10 business days for it to actually show in your bank account. I will go into further detail when it comes to withdrawals a little later.
Another thing to note when it comes to withdrawals is that those that have received bonuses from Interactive Option cannot withdraw their money until the bonuses have been traded over 40 times. This causes numerous withdrawal issues, not to mention that minimum withdrawal is $50 or EURO.
So, Interactive Option a SCAM?
Well, obviously they don’t have the same scam smell about them but they definitely have made this impression on numerous unhappy customers. Actually, there are rumors that Interactive Option may be closing its doors pretty soon taking along with them a LOT of people’s money. This is mainly because the authority of Cyprus security and exchange commission, which they are regulated by, has fined them $100,000 for numerous breaches in contract and they are quickly going underwater. Though they cannot be presumed a SCAM necessarily, they definitely are unprofessional and looking to steal your money. In general, their overall scam type schemes that are evolving constantly so as to steer clear of the heat have finally caught up with them.
Though I admit, I myself have not fallen for this mainly because I did the proper research in trusted source websites such as Forex Peace Army there are NUMEROUS complaints of real people that have been scammed. Just reading some of these posts in the forums you realize that they are responsible not for say, $10,000-$100,000 loss, no we are talking millions. The owners of Interactive Option , Rudy Jermoune and William Davila reside in Israel where, for the most part, they cannot be touched for their actions, which allows them to continuously scam people into signing up and robbing them blind not by the hundreds but by the thousands of dollars.
Since it has all caught up with them, the end is near as they are already clearing their offices and firing employees, stopped paying their advertisers and ruined relationships with their partners. Since then signals from fired employees have been coming through about their tactics and overall unreliable system.
This is just a quick snapshot of a random page in ForexPeaceAcademy of people complaining about not being able to withdraw their money. Just in this page alone there are 4 pages of similar complaints all from different people, all unique.
So, What’s with the Positive Interactive Options Reviews Then?
Of course, if you search Interactive Options reviews you will find pages after pages of positive reviews. Discussing how great it is, how they’ve won, how it’s the only legit option on the market right? Now, try and find some concrete information in any of these, numbers, real numbers, technical information which only someone that is using them will know, something to genuinely back their claims. You will find no such thing. What they have done is instead of investing in fake testimonial videos they have invested in their affiliate program. They don’t even hide it! They actually advertise it as another way to make money!
Here is their blunt and open advertisement!
This basically means, advertise us and we will pay you for every confirmed customer. What they do is write positive reviews, comment in forums and various articles and post their link, and share the link in general all over the internet claiming that these are the best and they get paid for spreading lies. The best part, you can confirm this yourself.
When you click a link leading to this website from a positive review it will simply show the website address you are directed to. What you miss is the fact that you are redirected to the website via a website robotaffiliates.com. You can quickly check this by simply putting your mouse over the link. There you will see robotaffiliates.com followed but numerous strange numbers and symbols which are the code of the affiliate who is to receive the commission. THIS is why you shouldn’t read anything and believe it 100%!
Already caught up in Interactive Options?
So, you decided to do the research AFTER investing? You are in for some fun. The first thing I advise you to do is withdraw your funds IMMEDIATELY! They will push and pull and make it very difficult as you have seen above. If you fail to withdraw your funds I recommend you block your card and file a dispute. Of course, for the most part, you most likely will not win, but at least you have the last word and they cannot withdraw anymore, as they are known to just make random withdrawals claiming that you approved them. Take down names of every person you spoke with and if possible record every conversation so if you need this information for the dispute or in the case you decide to sue them, especially for big sums of money, you have evidence.
Overall? Avoid Interactive Option!
Even though the CySEC regulate them this does not make them legit. Even they are noting that Interactive Option are violating business practices for EU regulations and will be punished with heavy fines. Regardless how the scandal between them ends the only ones that will be on the losing side are those that have invested through them. In the end it is up to you to decide if Interactive Option are a scam or not, but if you ask me, I’m not investing with them.