Prestige FM (No Binary Options) Review

Prestige FM (No Binary Options)

Rating: 7.8/10

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Broker	Prestige FM (No Binary Options)
US Traders Accepted
Company Name	Media Options LTD.
Headquarters	Sofia, Bulgaria
Regulation	Under the Republic of Vanuatu Dealers in Securities (Licensing) Act
Max Payout	70%
Out-of-Money Reward	0%
Trading Platform	Tradesmarter
Early Closure
Deposit Options	Credit/debit cards, Skrill, Neteller, wire transfer
Deposit Currencies	Euro
Minimum Deposit	$250
Minimum Trade	€10
Maximum Trade	€5,000
Online Since	2015
Trading Instruments	Stocks, currencies, commodities, indices, pairs
Number of Trading Instruments	85
Binary Option Types	High/Low, Short Term, StrategiX (Above/Below, Range, Touch, No Touch)
Customer Support Types	Live chat, telephone, paper mail
Education Offered	Video tutorials, training sessions, eBook, how-to pages, webinars, glossary
Tools Offered	Market reviews, special concierge services, social trading, Sell Back, Double Up, Hedge
Languages	English, German
Demo Account	No

As of 2018, Prestige Financial Markets (Prestige FM) is no longer offering binary options, operating solely as a Forex/CFD broker. The review presented below is no longer applicable and is presented for archive purpose only.

Prestige FM is a binary options broker previously owned by a company called Leadtrade Ltd., which was based in Nicosia, Cyprus, and currently owned by a company called Media Options LTD, which is based in Sofia, Bulgaria.  In many respects, Prestige FM is still offering the same set of services that it did in the past, but there have been a few significant changes.

Regulatory Status Change

Aside from changing hands, Prestige FM has also changed regulators.  Previously, Prestige FM was regulated by CySEC.  That license was suspended in March 2017 owing to supposed undercapitalization, and was then restored in April 2017 because apparently the previous charge was incorrect.

Nonetheless, Prestige FM seems to have forfeited its CySEC license on its own, and has switched over to being regulated under the Republic of Vanuatu Dealers in Securities (Licensing) Act.  Somewhat confusingly, the license number (14840) belongs to Robertson Securities Limited, rather than Media Options LTD.  You can view the certificate here.

Opening an Account on Prestige FM

When opening an account on Prestige FM, you can do so using a currency of your choice, but it will be converted immediately to Euro, which is the only currency available for trading on the site.  The minimum deposit is €250, and the deposit methods accepted are credit or debit card, wire transfer, Skrill and Neteller.

One awesome thing about Prestige FM is that the company is incredibly clear about fees, stating bluntly that there are no fees for withdrawals and that there is no minimum withdrawal threshold.  You may be charged by your bank for a wire transfer, but Prestige FM itself will charge you nothing.

This is refreshing considering the high fees that many binary options websites charge.  Unlike on these sites, Prestige FM keeps your money accessible so you can withdraw quickly, conveniently, and affordably.

Account tiers available include:

• Bronze: €500
• Silver: €5,000
• Gold: €10,000
• Titanium: €25,000
• VIP: €50,000
• Platinum: €100,000

The benefits do not really start kicking in until you reach the Silver level, where you get two training sessions, weekly market reviews, and basic training videos.  At the Gold level, you add advanced training and more frequent market reviews along with a third training session.  That jumps to five training sessions at the Titanium level along with market reviews four times a week.  The VIP level includes unlimited training sessions and daily market reviews.

In terms of benefits, the market reviews are not that impressive—a lot of sites offer these daily for free.  The training sessions are however a nice benefit.  There is not currently any mention of a demo account on the site, though demo accounts were offered in the past.

You will also notice there is no discussion of bonuses outside of a very vague bonus policies page.  Prestige FM does not currently seem to offer anything in the way of match deposit bonuses or other promotions.  This is not such a bad thing, though; bonuses come with rollover requirements, and they are generally very high on binary trading websites.

Trading on Prestige FM

The colors have been changed on the Prestige FM Tradesmarter platform, but the platform itself looks basically the same as it did before.  There are three different ways you can display the options available; I recommend picking the “tile” option (the middle of the three icons).  This seems to make it easiest to see what is available.

Click on this and you will notice that there are three types of trading:

• High/Low
• Short Term (labeled “2 minutes,” but you can choose anything from 60 seconds to 5 minutes)
• StrategiX

There is a very wide range of expiry times available for trades.  You already know you can trade fast; if you prefer to take longer term positions, there are some trades available which last for months.

If you click on “StrategiX,” this actually opens a window which makes four more trade types available: Above/Below, Range, Touch and No Touch.  So the selection of trade types is significantly bigger than it appears at first glance.  I am a big fan of Range trading since it lets you profit when markets are flat, so the selection as a whole is excellent.

In total, there are 85 trading instruments available.  The minimum trade size is €10 for short term trades and €25 for all other trade types, with the maximum trade size being €5,000.  You can control your trades using features like Double Up, Hedge, and Early Sell.  Other trading tools and educational resources available include social trading, an eBook, and the training sessions and video tutorials included with your account.

One drawback is that the maximum payout for most trades on this site seems to be around only 70%.  Many binary sites offer significantly higher payouts, ranging above 85%.

Need to get in contact with customer service?  You can reach the team via telephone or live chat, 5 days a week.  When they are not staffing the live chat desk, you can leave a message on a form that opens in the same window and they will email or call you back.

Conclusion: Prestige FM Is Fee-Free and Offers a Wide Variety of Trade Types

Even though Prestige FM is now owned by a different company than in the past and has switched from CySEC to a new regulator, the website is still offering more or less the same great services.  The website has dropped one language (French) and has dropped US Dollar as a currency, but these are small subtractions that do not really take away from the site all that much.

In terms of features, Prestige FM has much to offer when it comes to trade types, ease-of-use, and training and educational resources.  What is more, you will not need to worry about losing money through withdrawal fees or other commissions.  Prestige FM remains a good choice for traders around the world who are looking to capitalize on the binary options markets in 2017 and onward.

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