BLOCKOPTIONS REVIEW 2023: SHOULD YOU SIGN UP WITH THIS BROKER?

A team of experienced traders formed Blockoptions. It’s a decentralized crypto binary options platform that relies on Ethereum. Blockoptions offers a wide selection of trading options, including foreign exchange, commodities, and cryptocurrencies.

It claims to use automated trading software like Bitcoin Buyer to handle all the trader’s actions, from analysis to closing positions. However, it seems too good to be true.

Blockoptions homepage

The platform mentions passive income for token holders on the homepage. However, the company’s website does not mention how to make that passive income.

Blockoptions is neither reputable, trusted, nor regulated. It doesn’t provide a solid trading service. It offers no information on an ‘about us’ page.

I discovered it while going through the platform’s website. So, it lacks the capabilities to offer financial services.

It compares the start-time price and expiration price using a built-in wallet. You can get the start-time price and transmit it to the smart contract. Although I wasn’t allowed to trade without a referral code, I still scanned the platform and analyzed it.

The platform’s picture clarifies that there is just a PUT/CALL option. The trading period ranges from 30 seconds to an hour, and there are indicators. You can trade the site’s cryptocurrencies, binary options, and FX.

Blockoptions platform

Blockoptions claims not to make money from traders’ profit or loss. But they charge a fee per trade. It would be approx 0.005-0.01 ETH per trade.

They claim to divide 100% of the profit among token holders via a token reward smart contract. In addition, on the website, they claim:

• 100% transparency, as you get asset prices on the blockchain
• A win rate of 175%

Again, these numbers are too good to be true.

WHAT TRADING INDICATORS ARE AVAILABLE?

Trading indicators have always been helpful for traders. They guide traders regarding past trends and future moves.

But unfortunately, when I was analyzing Blockoptions’ website, I didn’t find any recommended trading indicators. But if you want to trade with indicators, I’ll recommend the following for binary options trading.

• Moving averages
• Average true range
• Moving average convergence/divergence (MACD)
• Relative strength index
• Stochastics

Lack of information is a major warning sign. Your money is not secure with Blockoptions because of this. It is preferable to avoid it because certain pages do not load.

Let’s imagine that you signed up for an account, you are trading, and you cannot open a page. You’ll feel frustrated. When you join up, the platform guarantees to secure your personal information from hackers. Given the general lack of safety, I’m not so sure.

If you’re looking for Blockoptions’ location, you’ll be disappointed with this platform again. They haven’t mentioned on the website where they operate. So no one knows their exact location. Another major red flag!

According to the website’s information, Mr. Gary Luo started Blockoptions. He also used his platform for fundraising. Besides that, he was one of the top-rated ‘ClickBank’ sellers of 2005, making his way from e-commerce to cryptocurrency.

Gary Luo has made the team worldwide. But when I searched for this successful man on Google and social media, he didn’t appear to exist despite being so successful.

They have given their email address to contact them for help But don’t expect them to reply soon!

The broker has given no number to contact them directly. A broker should be able to show us how to contact its office easily.

Blockoptions contact page

The Block Option system for deposits accepts eight cryptocurrency methods.

• BTC
• ETH
• XRP
• EOS
• LTC
• DASH
• USDT

Blockoptions payment methods

Currently, Block Option offers two primary withdrawal methods

• BTC
• ETH

All transactions are more or less anonymous. Because they accept only crypto payments. It is even another warning sign.

DOES BLOCKOPTIONS OFFER PROMO CODES?

Offering promo codes is not a new strategy for a trading platform. It encourages traders to trade more with the broker’s platform.

Some provide referral promo codes or occasional promo codes. But what promo codes does Blockoptions offer?

The platform offers nothing that would help traders. Blockoptions doesn’t offer any promo codes.

Blockoptions does not mention bonuses anywhere. It requires a referral code for registration.

DOES BLOCKOPTIONS CHARGE TAXES ON PROFIT?

Some brokers charge taxes on profits. Taxes are part of trading. But does Blockoptions charge taxes on profit? Let’s take a look! Blockoptions doesn’t provide any tax info.

I initially attempted to create an account with the broker. It said that a referral code is required to complete registration. Trading on the platform is by invitation only.

However, neither the real account nor the demo allowed me to trade. I could not register because of this. But luckily I was able to dig deeper into the platform’s website, and that’s why I’m writing this review.

Is Blockoptions a scam?

In terms of functionality, Blockoptions does not appear to place a great value on its users. It lacks regulators, licensing, proper addresses, and information on payouts. So it’s safe to say it’s a scam.

How long do withdrawals take on Blockoptions?

There is no information on the website about deposit/withdrawal time limits.

How can I close my Blockoptions account?

There is no information on how to close the account.

FINAL THOUGHTS 

There you go! I recommend you avoid this broker. If you carefully examine this platform, there are several red flags. These include:

• No licensing
• No address
• No proper contact info
• People on the team don’t appear to be real people

As a result, I’d rate the broker as 0/5. I hope this review was helpful and you will stay away from the platform. If you are looking for legit forex brokers, you can check the complete list of brokers here.

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