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Forum Are SpotOption brokers the most used? Reply To: Are SpotOption brokers the most used?

Twila Fennell

LEVEL 2 : NOVICE

REVIEWS 8 | REPLIES 5

#1805

caspian

September 1, 2015 at 1:50 pm

To all of you commenting you do realize that SpotOption is not responsible for the brokers that they lease the SpotOption software too right?.

SpotOption is not a broker but rather more like a franchise that licenses their software to pretty much anyone who has enough money to do so.

The end result is what you would expect to get. A mix of some shady brokers some good ones and some that start of good and then bust.

The longevity of any SpotOption software utilizing broker is questionable and for that reason I remain neutral on this topic.

Im what you would consider somewhat of a “broker hopper” and do not like to stay with any one broker for too long or keep all of my eggs in one basket.

I will tell you this though, I was with BeeOptions for a while and they were good, for a bit.

Until one day they just decided to go bust and become a bucketshop, and stop paying out to depositors.

Again the reason for this inconsistency in customer latency goes back to the business model and structure of how these brokers who use the spotoption platform operate.

They are essentially piggy backing off of a well known brand without much work or previous knowledge on the market they are getting in.

At least that is what it seems like from my point of view as a trader and for that reason I would also advise to be cautious when dealing with SpotOption brokers.

Goodluck,