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Updated on January 29, 2024

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Our Review Method ▲

In our rigorous review process, a team of seasoned financial specialists, boasting more than 20 years of experience in Forex trading, carries out an exhaustive evaluation of various trading services. Our team delves deep into the investigation of fees, assesses the trading platforms, and verifies adherence to regulatory standards. We also interact directly with customer support and conduct actual trades to gain a real-world understanding of the trading conditions. This comprehensive approach enables us to provide informed insights and advice on why we recommend avoiding Option94 due to the issues we've identified."


Is Option94 Scam or Legit Broker? ▲

The legitimacy and security of a Forex broker are paramount considerations for any trader in the market. Option94, unfortunately, falls short of providing the necessary reassurance to its clients due to its lack of a bona fide license from any globally recognized Forex regulatory authority. This absence of a regulatory license puts Option94 in the category of potentially fraudulent companies. Without undergoing any formal compliance checks at its inception, not being subject to ongoing safety monitoring, and having the liberty to operate its business at will, Option94 presents a considerable risk to traders and investors.


What is Option94? ▲

Option94 operates as a broker in the Forex and cryptocurrency markets, purporting to be owned by Lunoforex PTY Limited with alleged offices located in the United Kingdom, Australia, and the United States. The company presents itself as an Australian entity, claiming licensure under the Australian Securities and Investments Commission (ASIC) and even provides what it claims to be a verifiable copy of this license for potential clients. However, upon closer examination and verification with the Australian regulatory body's register, there is a conspicuous absence of any records pertaining to either Option94 or its supposed parent company, Lunoforex PTY Limited.


Adding to the confusion, Option94's website mentions that all client funds are held by ICC Intercertus Capital Limited, a company regulated by CySEC (Cyprus Securities and Exchange Commission). Yet, despite this claim, there appears to be no tangible link between Option94 and ICC Intercertus Capital Limited, further muddying the waters regarding Option94's legitimacy and operational integrity.


Conclusion ▲

In summary, Option94 is an offshore broker lacking the necessary regulatory oversight to ensure its trustworthiness and reliability. One of the most critical factors in selecting a broker is its licensing status and the presence of supervision by a reputable financial authority. We advise traders and investors to direct their business towards brokers that are licensed by highly esteemed regulators, such as the Financial Conduct Authority (FCA) in the UK or the Australian Securities and Investments Commission (ASIC). Engaging with a well-regulated and reputable broker is crucial for success in trading.


Furthermore, it has come to our attention that the Option94 website has become inactive, indicating that the broker may have ceased its trading operations. Despite this, we urge caution and recommend that traders stay vigilant to avoid any potential engagements or offers from this broker in the future.


When considering alternatives, brokers like Interactive Brokers, City Index, and AvaTrade stand out. They not only offer the security of stringent regulation but also bring to the table comprehensive trading solutions that can meet the needs of both novice and seasoned traders.

Option94

IG

Swissquote

Ranking

Is it safe?

Advantages

None

No

Low Fees

Yes

⭐⭐⭐⭐⭐

Education

Yes

⭐⭐⭐⭐⭐

Compare Option94 with its peers

Option94

IG

Swissquote

Ranking

Is it safe?

Advantages

None

No

Low Fees

Yes

⭐⭐⭐⭐⭐

Education

Yes

⭐⭐⭐⭐⭐

Compare Option94 with its peers

Option94
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In a Snapshot

Name: Option94

Website: www.option94.com

Reason to avoid: No license

Date: December 24, 2018

⚠️Caution: Option94 operates as an unregulated broker, making it UNSAFE for trading activities.⚠️

Option94 Review 2024

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