Verum Option (No Binary Options) Review

Verum Option (No Binary Options) Home Page Screenshot Verum Option (No Binary Options) Trading Platform Screenshot
Broker Verum Option (No Binary Options)
US Traders Accepted
Company Name Coylton Services LP
Headquarters Scotland
Regulation No
Max Payout 95%
Out-of-Money Reward 0%
Trading Platform SpotOption
Deposit Options Credit/debit cards, UnionPay, Payboutique
Deposit Currencies US dollar
Minimum Deposit $5
Minimum Trade $1
Maximum Trade $1,000
Online Since 2015
Trading Instruments Currencies, commodities, stocks, indices
Number of Trading Instruments 207
Binary Option Types High/Low, Long Term, 60 Seconds, One Touch, Ladder
Customer Support Types Web form, phone, live chat
Education Offered Basic how-to pages, video tutorials for platform/basics
Tools Offered Economic calendar, social trading, double up, rollover
Awards
Languages English, Russian, Arabic
Demo Account No

From January 18, 2018, Verum Optionis no longer offering binary options, operating solely as a CFD trading broker. The review below is no longer applicable and is presented for archive purposes only.

Verum Option is a binary options broker based in Scotland and owned by a company called Coylton Services LP. This broker appears to have won several awards, but they are all from very minor websites. They have one feature which is appealing, which is that you can trade on the site with very little money. Conceivably, this could make it useful for training purposes. This is not a broker that I would recommend however in any other respect. The website is poorly designed and contains a lot of pushy or misleading copy. Verum Option also offers very little in the way of useful trading features.

Poor Site Design

Before I talk about features, I want to discuss how poor the navigation is on the site. One of the most annoying things about it is that a number of pages (About, FAQ, Education, etc.) are located in a menu which is only available on the homepage and cannot be accessed from any of the other pages on the site. Additionally, there is no way the right click and open these pages in new tabs, so you must constantly go back to the main page to get to any of the other pages.

When I tried to open an account on the site, I encountered an error and was unable to progress any further. This is not encouraging.

Dubious Copy

Another thing that bothers me about this site is that the copy is often misleading. For example, on the about page, the company proudly says that it has FMRRC and CRFIN certificates. To be fair, if you actually read what these are, it is clear that they are not actual regulatory certificates, and are offered through independent organizations. But they are presented in such a way that this would be easy to miss if you were not in the know about how the binary options world works.

The site also makes a number of questionable promises both through images and words. On the home page is a picture of a trader sitting on the beach with the caption, “You can be 100% sure in your funds safety when you trade with us.” While this is probably a reference to encryption, a newbie trader could easily think it somehow equates to risk-free trading. The slogan at the top of the homepage says, “You are just in one step to multiply your money.” This is also misleading (as well as ungrammatical), as there are many steps involved in becoming a trader who is actually successful.

These are just a couple of examples. As you can see, there is really nothing strictly dishonest here, but this broker looks to be capitalizing on the ignorance of rookie traders who could use a little more guidance. This does not instill confidence.

Few Features, Little Transparency

When you open an account on Verum Option, there are no account types to choose from. The minimum deposit is only $5, which is just about the only exciting thing about this site. You can trade as little as $1, which means that you can effectively use Verum Option almost like a demo account. Note that there is no actual demo account on the site. You can trade on your mobile device. Aside from that, features are quite limited. Double up and rollover are both available but early close is not. Social trading and an economic calendar are also offered.

What about fees and withdrawal policies? The only account currency which appears to be available is US Dollar. You can deposit using credit or debit card, UnionPay, or Payboutique, but you may only withdraw using your card. There is a $10 minimum withdrawal threshold, which is not too terrible. Fees are mentioned rather nebulously on the terms and conditions page, but no dollar amounts are specified. Verum Option does not score high marks for transparency.

On the bright side, there are more than 200 assets available to trade, including currencies, commodities, stocks, and indices. This is quite an ample selection. Types of trades include High/Low, Long Term, One Touch, 60 Second, and Ladder—again a good selection. As mentioned earlier, the minimum trade size is just $1. The maximum trade size is $1,000. A lot of brokers will start you out at $10-$25 per trade, so you can see why $1 is a nice benefit.

Lacking in Resources

Verum Option supposedly offers an educational center, like most binary options brokers. This area on the site is not all that great, however, since it consists of little more than a few very basic pages about binary options trading, along with a set of video tutorials that introduce rookie traders to the concept of binary options and the platform, but do not actually delve much into the art of trading. There are however a few useful videos under the “Advanced” tab.

As far as customer service goes, you can access the team through a web form, live chat, or telephone. No one was available at the live chat desk when I checked, but it was a Sunday, so I cannot draw any conclusion regarding the quality or availability of the service. I am not encouraged however by the lack of transparency throughout the site. Good customer service starts with strong site design and an abundance of resources which are readily accessible.

All in all, I was quite unimpressed by Verum Option. I cannot say with any certainty that this is a worthless site, and I actually think it could work well if you are looking for an alternative to a demo account before you fund a real account at some other broker site with a substantial sum of money. You could practice trading with just a few dollars and get a feel for the experience.

Further than that, I would recommend avoiding Verum Option. Whoever put this site together left in a state where it feels largely unfinished. This broker appears to be out to make a quick buck by preying on novices who have been mislead into thinking that trading is easy.

Visit Verum Option (No Binary Options) →

5 Traders' Reviews

  1. KAILASH reviewed Verum Option (No Binary Options)

    VERUM OPTION IS NOT ALLOW YOU TO TRADE / DEPOSIT MONEY INTO YOUR ACCOUNT IF YOUR WINNING CONSEQUETLY IT SHOW INTERNAL ERROR IF YOU TRY TO DEPOSIT AMOUNTT INTO YOUR ACCOUNT AND THAT NOT ALLOWED TO DEPOSIT
    BECAUSE I WAS EARNED WORTH 12000 AND ACCIDENTLY I LOSSED MY AMMOUNT DUE TO BIG INVESTMENT BY ME THATS WAS MY FAULT AFTER THEY SAW PERFORMANCE AND NOT ALLOWING ME TO DEPOSIT AND TRADE WITH THEM… AND IF YOU TRIED TO WITHDRWAL BIG AMOUNT LIKE 2000 USD THEY WILL TAKE TAKE TOO MUCH TIME FOR IT AND TAKE YOU EMOTIONALLY
    AND YOU WILL TRADE THAT AMOUNT AND THEY WILL EMAIL YOU HAVE NOT ENOUGH FUNDS IN YOUR A/C

    • andrew reviewed Verum Option (No Binary Options)

      When you are winning consequently, they will even block your account just like that

  2. andrew reviewed Verum Option (No Binary Options)

    Pure scam. Everything seemed ok, i deposited money and withdrew small money twice from my platform. But when i requested for my 350USD profit, suddenly my account was blocked. reason my documents were not verified. When u lose money, u are a good customer but when u make profit, they will ask for additional documents which will not be accepted and finally your account is blocked. This is the email they sent me” Hello.

    Hereby we inform you that Verum Option Company is obliged to terminate cooperation with you under the current Client Agreement, and your account is blocked. The decision was made by Verum Option Compliance Control department under verification of your submitted documents, and in particular your Proof of Residence.
    Our cooperation cannot be renewed. The Company has no further obligations to you.
    We wish you success and good luck!

    Best regards,
    Verum Option Company. “

    • Verum Option reviewed Verum Option (No Binary Options)

      Hello. Withdrawal of funds is processed under the Company’s rules and regulations. For us to be able to comment on your issue, please indicate your login at the company.

  3. Rolcriptman reviewed Verum Option (No Binary Options)

    The broker, however, was attracted to the trading platform. Simple, convenient, fast. I recommend to try trade via Verum

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