- Owned by Smart Choice Zone LP;
- Located at 272 Bath Street Glasgow, Scotland G2 4JR;
- Products: Stocks, Currencies, Indices or Commodities;
- Available to non-U.S. customers only;
- Uses the internationally accepted security system SSL (Secure Socket Layer).
TorOption Review – Scam or Reliable Broker?
Toroption is a broker that offers CFD trading services on the popular and user friendly web-based SpotOption platform. It has more than 100 assets listed, including some of the most popular cryptocurrencies, stocks, commodities or pairs. Its website is available in Russia, Italian, German and Spanish.
Payment clearing services for TorOption are provided by Smart Choice Zone LP, 272 bath Street Glasgow, G2 4JR, Scotland and the owner of the brand is Smart Choice Pro Ltd.
Let’s see what are this broker’s strengths and weaknesses.
Great learning center
TorOption’s learning center is a very strong point. Its video tutorials can please all categories of traders, from novice to advanced. Also, each and every account type gives traders access to an exclusive e-book. Daily market reviews and weekly market reviews are also in the educational center. Traders can benefit from 1-on-1 instruction from financial analysts and can choose to partake to webinars to discover and learn the financial markets as good as possible.
Additionally, an economic calendar to keep investors up-to-date with the financial events taking place throughout the world and a thorough FAQ section and the alphabetical glossary complete the entire picture.
Overall, we can say we were pretty pleased with what we could find here in terms of education.
Bonuses and promotions
Another high point is the bonuses and promotions section of TorOption’s site. Each of the 4 account types that traders can choose has a bonus attached to it that can go beyond 75%. Also, on the promotions page of the website people can find updated special offers for trading. Of course that terms & conditions apply.
How well these bonuses and promotions work out it remains to be seen, because we think we didn’t spend enough this with this broker to get the complete picture. Nevertheless, things look pretty good.
Trading Account Options
The broker offers 4 account types. The minimum deposit value is $350 for the Mini Account and the maximum deposit value is $50000 for the VIP Account. Standard and Executive Account have minimum deposit values of $10000 and $25000.
TorOption’s account options are pretty thorough and can definitely please the majority of traders. As stated above, traders can benefit from bonuses like trading signals, trading sessions with analyst, call from their Account Managers and many others, provided they opt for the higher Account Types.
The withdrawal of money procedure can be immediate, for VIP investors, or can take 10 business days the most. A wide array of credit cards can be used and Wire Transfers as well.
Well, versatility is the word of order here and it can only be beneficial for traders open to as many possibilities as they can get.
Safety above everything else
In order to protect its investors from financial fraud, TorOption uses top-tier SSL encryption, a standard for the industry. Furthermore, according to the information on its website, the broker uses very strict Know Your Client and Anti-Money Laundering policies. That’s why the verification of account ownership seems very important for TorOption’s team and they put a lot of emphasize on it.
It’s not state-of-the-art protection, nor a Berlin Wall, but it seems pretty ok and legit. It certainly doesn’t look like a scam at all.
Customer Service, in line with the needs
TorOption’s customer support staff can be reached via e-mail and Live Chat 24/7, or via phone during working hours: Monday to Friday from 7am to 8pm GMT, according to the information provided on their website.
We had to test it ourselves and we must say they were fast, professional and very helpful in answering all of our inquiries.
So we have to give this broker a big plus when it comes to customer support too.
Everything looks fine, but… pretty standard
It’s time for some complaints. We think TorOption is a pretty safe choice of a Forex broker, but it doesn’t really stand out too much from the pack. That’s because everything looks and feels standard. From the web-based SpotOption platform, to the educational system, safety measures – nothing stands out as innovative.
Nonetheless, don’t get us wrong: it’s still good, but we wish we had to experience something new for a change.
The site is overall client-friendly, offers great support and extensive learning materials. This combined with various trading accounts to choose from, ensured funds safety and access to unlimited trading information make it a good, if not great choice when it comes to any trading activity. Is trade.com a scam? Chances are slim, but we’d advice you take the usual precautionary measures and pay close attention to every detail, carefully read their Terms and Conditions section and invest wisely: less at first, then gradually increase the sum as you go.