According to our team’s research, Quick Option does NOT provide demo accounts. We also found out that they do not rate highly and there is no significant data about them. As an alternative we selected the top brokers that provide a Demo account for free.
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Quick Option was established in 2015. It is a 100% mobile broker based in Cyprus. Although this company is relatively new in the industry, we have been able to find out some information about their trading platform and services. The purpose of our review is to inform the binary options traders about this new broker and whether it is safe to trade with them or not.
To get full details about Quick Option, read this review till the end.
What is Quick Option?
Unlike other brokers on the market that offer a desktop application for trading binary options, Quick Option is a mobile based broker. It is the only brokerage company we have come across so far that offers just a mobile app and not a fully functional desktop program. The application can be downloaded from Google Play and installed into the mobile device such as phone or tablet.
From their website, it seems that the broker is trying to appear unique and innovative. But the fact is that a mobile application should be meant for trading on the move only. Many broker have designed applications to facilitate trading while the trader is out and about, but these applications are not usually as functional as the desktop versions.
The mobile app that has been designed by Quick Option lacks special features which makes it hard to execute trades. Traders who have used it are complaining that the app freezes when they try to perform trading actions. Some have even reported that the app makes unauthorized trades on their behalf which causes them to lose their funds.
Quick Option uses the Tech Financials trading platform that is known in the industry as an inefficient trading platform. The platform itself lacks special features and it doesn’t appeal to most users because of its design and colors. The choice of assets and options are pretty basic and limited.
Minimum Deposit & Withdrawal Requirements
Like other brokers, the minimum deposit requirement at Quick Option is $250. Deposits are accepted via wire transfers, credit cards and some ewallet options. Withdrawals can be done using the same methods, but we don’t have any information about the minimum withdrawal requirements.
The broker has mentioned that there are no fees associated with making withdrawals. But users report that the broker charges fees when withdrawal requests are made. There are withdrawals that have not been processed at all. Requests are cancelled and users are not even give a valid reason for it. It appears that trading with Quick Option is quite risky. Although the broker offers opportunities for trading on the move and earning profits, the process of transferring the profits is quite complicated.
Is Quick Option a Scam?
Quick Option could turn out to be a scam because there is no proof of it being legit or reliable. Traders who have used this platform have reported that the broker makes use of their funds in an unauthorized manner.
Account suspensions and locked accounts are common issues faced by traders. Quick Option is not a regulated or licensed broker. Additionally, there are several complaints made by unhappy customers. Our investigation also shows that the broker is not legitimate.
On their website, we found the information that Quick Option offers a 24/7 customer support service. But when we contacted them via phone, we did not receive any response. They even failed to get back to us via email. Our personal experience with their customer support service was very unpleasant.
To conclude, Quick Option is not the broker you can trust for your binary options trading needs. Although their services look unique and innovative, the broker is not reliable.
There are better options out there for traders. When it comes to choosing a broker, it is important to establish that they are reliable and trustworthy. Quick Option definitely does not fall in the category of reliable brokers.
After our research we concluded that Quick Option does not provide a demo account.
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.
I am David Raines, a Binary Options trader with years of experience in online trading. I write reviews of Binary Options Brokers, Auto Trading Software and Signals Providers.