Information about the company “OptionHot”
The company specializes in binary options. In modern conditions, this type of activity is not regulated, so there is no license for brokerage activities at “OptionHot.”
The website optionhot.net has a section “License,” where a registration form of the company named Namelina Limited, issued in 2018 in the offshore jurisdiction of Saint Vincent and the Grenadines, is posted. The connection between this company and “OptionHot” is not clarified. Presumably, it refers to the parent company and the trading brand.
The website is available in 6 languages, including Russian. Binary broker OptionHot invites to contact via email, through an online form, and also by phone at +442035192532.
Trading conditions of “OptionHot”
The broker offers classic binary options. Clients can place bets on the price movement of the selected asset within a specific time frame. If the client’s bet is correct, they take the winnings. If the forecast is incorrect, the deposit remains with Option Hot. In case the price chart does not change within the designated period, the parties stay as is.
“OptionHot” promises clients a wide selection of assets for betting and the following categories of periods:
- HighLow,
- HighLow Spread,
- Turbo,
- Turbo Spread.
Binary broker OptionHot offers to work through a single trading platform, calling it the best in the world. It does not provide any other information about the characteristics and authorship of this software. It is only known that the “OptionHot” platform does not require downloading and operates as a web terminal.
Depositing and withdrawing funds from OptionHot
Like most binary brokers not constrained by official regulation, “OptionHot” offers a wide range of payment methods.
In the website footer, there are numerous logos of bank cards, international payment systems, and e-wallets. It is impossible to display all at once on a screenshot, as the logos do not fit the screen width and are presented on a scroll bar.
Among the payment methods of “OptionHot” are national ones — for example, the Russian version offers Yandex.Money. The full range of available methods to deposit and withdraw funds will be presented through the OptionHot personal account after registration, during which clients will specify their jurisdiction.
The client agreement states that the withdrawal of funds is available from a minimum threshold of $1,000. Only after working through the welcome bonus, which will require 50 or more trades depending on the volume of the deposited funds. In case the withdrawal amount reaches $2,000 USD or more, the client will need to undergo verification again by providing their documents.
The client agreement specifies that the withdrawal request from OptionHot will be processed within 1-3 days. The option to refuse the welcome bonus, to avoid commitments for its execution, is not provided.
Conclusion
Binary options brokers are not regulated by legislation, and the correctness of their trading platforms is not verified by supervisory authorities. Therefore, this type of trading, attractive due to its simplicity, is associated with increased risks.
Among the significant drawbacks of OptionHot are the mandatory allocation of the welcome deposit upon registration and high requirements for its execution, making it impossible to withdraw funds until completed. The $1,000 withdrawal threshold is unusually high for a binary options broker and may be inconvenient for clients.