ForumOption – review of a scam project and verified reviews
Detailed analysis and responses to the activities of ForumOption
When conducting analytical work on reviews, we often face the difficulty of determining how legitimate the broker that has come under our radar is. And in the case of ForumOption, everything became clear almost instantly. Reviewing the offers from forumoption.com revealed interesting facts that we are ready to share in this article.
What is this organization known for?
There is little information about ForumOption. After reviewing the forumoption.com website, no useful information was found. This was not surprising to us, so we will investigate it ourselves.
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This CFD broker resembles many similar scam projects. The managing company is listed as Capital Group Ltd., registered, as is often the case, in St. Vincent and the Grenadines, without providing a legal address. We will leave this detail, as well as the registration, unchanged, since there is no evidence of their existence.
During the review preparation, an interesting screenshot was discovered, two years old. It turned out that during this time, scammers managed to change several managing companies, which is a clear indicator of attempts to cover up the traces of their schemes.
A prominent mention of CRFIN regulation is found on the forumoption.com website, which, as we have already established in other cases, represents an unregulated and unofficial body. This is just one example of the access used by fraudsters to uncontrolled mechanisms.
Examination of the trading system
The ForumOption broker platform seems unusual and incomparable to other offerings in the CFD market. Its functionality more resembles a simple online game rather than a professional trading tool. Moreover, there are no mentions of liquidity providers on the platform, further emphasizing the lack of trust in this project.
What types of trading accounts are there? Take a look below:
- “Basic” — from $300 to $1,000,
- “Silver” — from $1,000 to $5,000,
- “Gold” — from $5,000 to $25,000,
- VIP — from $50,000.
The concept of “the more expensive the account, the more advantages” is clearly evident from this colorful array of offerings, however, all “bonuses” essentially have no real value.
In an attempt to shed light on the true nature of the ForumOption project, we also examined user reviews, which confirm our worst suspicions about the fraudulent nature of the project.
User responses
Stories of those affected by the broker’s activities are permeated with a common theme: promises of quick earnings turn into unforeseen losses and complete disregard from the project after funds are transferred.
Final thought
Analyzing ForumOption, it is impossible not to recognize that we are dealing with a typical example of a scam project offering CFD broker services. Attractive promises turn out to be nothing more than a way to manipulate traders’ beliefs in favor of the project creators’ benefit.
We strongly recommend avoiding interaction with forumoption.com and similar dubious offers. Pay attention to our detailed investigations and reviews when choosing a reliable broker.
Review author: Yegor Tishchenko