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Peakoptions24
Rating:
Binary Option Programs Award
Min. Deposit
$250
Min. Investment
N/A
Regulated Broker
No

Peakoptions24 Broker Review

  1. Peakoptions24

    Peakoptions24 is an unlicensed binary options broker that promises 81% payouts on binary options contracts, claiming to be the “number 1 bitcoin  investment”.

    The Canadian securities regulator British Columbia Securities Commission (BCSC) has issued a warning against trading with Peakoptions24, claiming that they are a suspicious entity that should not be trusted.

    What does this mean for South African investors? Is Peakoptions24 a scam?

    Read our full Peakoptions24 review and final conclusion to find out all you need to know about this binary options broker.

    The 4 Account Types

    The minimum deposit to begin trading with Peakoptions24 is $250, which is the most common amount required from most brokers.

    Tip: Trade with IQ Option instead, the best regulated broker for South African traders with a minimum deposit of only $10!

    Besides the first, regular account, Peakoptions24 offers South African investors 3 different account types to choose from. The only problem here is that the binary options broker provides no information about the actual trading conditions each account will provide – which is crucial information all South African traders need to know when picking a broker.

    Tip: Check out our list of the best brokers for South African traders, combined with trading conditions to compare – which makes your choice even easier.

    Check out all accounts listed below.

    Starter Account

    • $250 minimum deposit
    • 5% referral bonus
    • Low trade frequency
    • Low trade rate
    • Low risk management

    Regular Account

    • $1,000 minimum deposit
    • 7% referral bonus
    • Medium trade frequency
    • Medium trade rate
    • Low risk management
    • Free auto trader

    Premium Account

    • $5,000 minimum deposit
    • 10% referral bonus
    • High trade frequency
    • Medium trade rate
    • Low risk management
    • Free auto trader

    Executive Account

    • $10,000 minimum deposit
    • 15% referral bonus
    • High trade frequency
    • High trade rate
    • Low risk management
    • Free auto trader

    Trading Software & Assets

    With Peakoptions24, South African users will gain access to 24 options to trade through their simple, web-based platform. The binary options broker claims to offer a “fully automated system” that leaves zero room for human error. This can be problematic, as complete auto-trading systems are not recommended by regulators, as they are not considered to be in traders’ interest.

    The best systems provide South African investors with automated signals, that make the trading process much easier. You can see our list of the best automated trading software and choose the one you prefer.

    Now, as mentioned before, the entire Peakoptions24 website is incredibly vague. There is no information regarding the actual trading platform that South African investors will be using, trading conditions or even the company itself. What’s more, our team noticed many grammatical errors on the site’s text, which is yet another sign of their unprofessionalism.

    What makes the whole situation even worse and immediately links Peakoptions24 to a scam is their instant promise of 81% profit. This is an immediate red flag, because no broker can ever predict such results. The actual results depend on a variety of factors and it is always important to remember that all trading entails some degree of risk. Brokers that promise huge sums of money fast are lying, and we would advise South African traders to stay away from such companies.

    Customer Support

    South African users can contact the Peakoptions24 customer support team by email or live chat. There is no South African phone number available.

    For traders who prefer to not contact brokers directly, we usually advise them to visit the FAQ section on the broker’s website. In this case, the Peakoptions24 FAQ section is incredibly short and does not really provide any useful information.

    Company Info & Payment Methods

    Our team could not find any information on the company that owns and operates Peakoptions24. There was nothing mentioned on the official website, just a physical address in New York which is safe to assume is fake.

    Warning: The binary options broker maintains complete anonymity and lack of transparency which, combined with their unlicensed status, is an immediate indication that Peakoptions24 is a scam.

    The only information we gathered on payment methods accepted were a vague mention in the FAQ section. Peakoptions24 accepts bitcoin, Western Union, Money Gram and Perfect Money deposits.

    Warning: South African traders are in no way advised to deposit any money with this broker.

    Conclusion: Peakoptions24 is a Scam

    Through our careful review of this binary options broker, we can confidently conclude that Peakoptions24 is a scam that South African traders should stay away from. The reasons that prove that Peakoptions24 is a scam are highlighted below.

    • Not regulated under any entity
    • Vague website full of grammatical errors
    • Fake promises of huge profit returns
    • Complete anonymity, no company information
    • The BCSC has issued a warning against them

     

    Instead of wasting your time with another scam company, trade directly with the best, fully-licensed broker for South African traders – IQ Option.

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