Table of contents
For us 360FXOptions gave us an immediate bad impression, for reason both aesthetic and professional. Read on to find out all you need to know.
The company claims to be incorporated in the UK, but not regulated there, which is a common thing to be claimed by a broker. Many novice traders are not aware of the fact that a company must be regulated, in the UK by the FCA, in order to provide legitimate trading conditions. 360FXOptions is definitely not licensed in the UK, and even if it is registered there, it makes no difference.
There is no other mention of a regulation, or similar, turning this broker to a risk to all traders and investments.
Investing in unregulated brokers is the digital equivalent of throwing your money away for the wind to disperse it. It’s obvious that no one would do such a thing. Go with brokers that are regulated by trustworthy organizations like the FCA or CySEC. These entities work closely with the law, enforce it when called for, and have strict requirement for those under their gaze. Not to mention that those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC).
There are no trading conditions. The broker is one of those invest to profit type deals. The next section will explain things in more detail.
The languages are limited only to English.
There is no trading platform; this is one important thing to get out of the way. Users are encouraged by very false promises to deposit a certain minimum amount of money, and in return get a ridiculous percentage in gains. For example, a $2000 deposit promises a 120% return rate in just 3 days. This is a complete lie.
360FXOPTIONS MINIMUM DEPOSIT
As you can see from the above snip, the minimum deposit is $200. Users can deposit via bitcoin, the untraceable depositing method preferred by many scammer brokers.
Deposit are commissioned by 5% for Affiliate users!
All signs point to the obvious: that this broker is not to be trusted due to its lack of regulation. It’s only logical that we advise traders against it. Brokers with proper licenses from the FCA and CySEC (among others) operate in ways that put the trader’s security of funds and personal information as a pivotal priority. These agencies are the top non-US financial license issuers, which should give you an idea of the brokers working under their oversight.
DON’T PROVIDE YOUR CREDIT CARD CVV CODE
For safekeeping your money NEVER share your credit card number and CVV code with a salesperson. All online payments require this 3 digit number in order to complete purchases or transactions, and by giving yours away to some offshore broker may lead only to the complete drainage of funds from your credit card.
DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER
Be sure to never give AnyDesk or TeamViewer access to your PC to unverified agents. These 2 platforms allow for your PC to be taken over by a second party, often times for help or guidance, but in the case of these brokers for the sole purpose of looting your bank account(s) and personal information. However, in order to do so your consent is needed, and this is the only thing standing in the scammers’ way.
360FXOPTIONS WITHDRAWAL TIME AND FEES
Without depositing, we could in no manner get a hold of withdrawal info. Furthermore, the website offers withdrawal info on its FAQ section, indicating a minimum withdrawal amount if 0.001 btc (around $7) and that the process takes up to 2 days.
There are no fees indicated anywhere.
ADDITIONAL FEES AND TAXES
The broker both gives itself the right to change rules and fees without prior notice to the trader, and indacates that users will hold the company harmless of any liability.
Unregulated brokers do not care who you are and what your situation is; all they see is money, and they will trick you into giving it to them every chance they get. It is only logical then, that any attempt at withdrawing will be unsuccessful. The most popular excuses for denying your withdraw requests are usually smart and for the most part scripted. These include but are not limited to loopholes in the T/C, asking for more deposits in order to withdraw, or just prolonging your pending withdrawal by claiming that the market will suddenly propel, multiplying your winnings by unrealistic proportions.
Beware, once more, when giving away an ID and a proof of address. Trustworthy brokers ask for these before traders can deposit to make a check up. Deceitful ones will ask for these details, using the anti-money laundering legislation as pretext, once you start asking too many questions and are getting suspicious of their activities. Understand that they will use these to build a stronger case against you in the event that you request a chargeback.
Yet again we urge readers to stay away from this broker as it will, without a doubt, never return your funds and profits. If you wish to to get smooth and efficient transactions, please visit a FCA/CySEC regulated broker, where all withdrawals are handled with care and respect.
HOW TO RECOVER
The most sound advice we could give you is to immediately file for a chargeback with you credit card company.
If you have given away your credit card details including the CVV code to the “broker” you should cancel it ASAP and check with your bank to see the damage inflicted.
Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won’t ever hear from them again.
The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!
360FXOptions promises high profitability, way too high. There is no way that the user will profit here..Only the broker will. Do not invest in 360FXOptions!
360FXOptions compared to other brands
United Kingdom, Cyprus, South Africa, Mauritius
Cyprus, Saint Vincent and the Grenadines