General Information
Founded In 2019 And Headquartered In The Seychelles, 7option Is A Relatively New Player On Financial Marekt. It Is Worth Noting That The Broker Operates Unregulated, Making It An Unregulated Entity.
Nonetheless, 7option Offers A Variety Of Market Instruments, Including Currency Pairs And Stocks, To Meet The Needs Of Traders Looking For Diverse Investment Options. The Availability Of Demo Accounts Allows Potential Clients To Explore The Platform Without Major Financial Commitments, As The Minimum Deposit Requirement Is Set At A Modest $10.
7option Provides Customer Support Via Phone, Email, Ensuring Assistance Is Available Through Multiple Avenues. Due To The Lack Of Regulation, Potential Clients Should Exercise Caution, Conduct Thorough Research, And Carefully Evaluate Whether 7option Meets Their Trading Objectives And Risk Tolerance.
Pros And Cons
Pros
Diversified Market Tools: 7option Offers A Variety Of Market Tools That Enable Traders To Diversify Their Portfolios And Explore Different Trading Opportunities, Potentially Enhancing Their Investment Strategies And Risk Management.
Demo Accounts Available: The Availability Of Demo Accounts Is A Valuable Feature For Both Novice And Experienced Traders. It Enables Users To Familiarize Themselves With The Platform, Test Strategies And Gain Confidence In Their Trading Skills Without Risking Real Capital.
Low Deposit Requirement: The $10 Minimum Deposit Requirement Is An Attractive Aspect For Traders Who Want To Start Trading With A Minimum Initial Investment And Reduce Their Financial Exposure.
Disadvantages
Unregulated: 7option's Lack Of Regulation Raises Concerns About Client Protection, Transparency And Adherence To Industry Standards. Traders Should Exercise Caution And Thoroughly Assess The Risks Associated With Unregulated Brokers.
No MT4/MT5 Platform Available: The Lack Of MetaTrader 4 (MT4) And MetaTrader 5 (MT5) Platforms May Disappoint Traders, As They Prefer These Widely Recognized And Feature-rich Trading Platforms, Which Are Known For Their Versatility, Functionality, Technical Analysis Tools, And Expert Advisors.
Limited Information: The Lack Of Comprehensive Information On 7option's Website May Be A Drawback, As It May Leave Potential Clients With Unanswered Questions About The Broker's Services, Trading Conditions, And The Company's Background. Clear And Transparent Communication Is Essential To Building Trust In The Financial Industry.
Regulatory Information
7Option Displays On Its Website The Names Of Two Companies, Which Are:
1) Sovana Holding PC, A Company Incorporated Under The Laws Of Saint Vincent And The Grenadines With Registration Number 8888 IBC 2019;
2) Calista Group Ltd, A Company Located In The Seychelles.
However, We Did Not Find Results Matching These Two Companies Located In The Saint Vincent And The Grenadines Financial Services Authority (SVG FSA) Or The Seychelles Financial Services Authority (Seychelles FSA).
In Addition, 7Option Does Not Explicitly State Its Relationship With The Two Companies. In Fact, 7Option Is Not Effectively Regulated By Any Regulatory Authority To Provide Investment Services. Investors' Funds In The Company Are Not Safe And Are Not Protected By Any Law.
Market Tools
From, Forex Trading, To Online Stock Trading, The Platform Offers Multiple Avenues For Potential Investments.
Currency Pair Trading: The Forex Section Is Located In 7option's Traditional Instruments With This Market, Such As Currency Pairs. These Currency Pairs Represent The Value Of One Currency In Another.
Online Stock Trading: This Section Includes CFDs On Highly Liquid Stocks Of Companies Listed On Major Global Stock Markets.
Accounts
Broker Offers, Demo And Real Account Types. The Broker Also Claims That Traders Can Start Making Money Without Investing Without Saving Startup Funds. However, We Cannot Learn More Specific Information About Account Types Without Logging In.
Specific Instructions For Opening A Trading Account Are, Not Provided, On The Broker's Website. To Register With This Broker, Simply Visit Their Registration Page And Provide Your Name, Email Address, Phone Number And Create A Password. You Will Also Need To Agree To Their Terms And Conditions And Confirm That You Are Of Legal Age (18 +). After Completing These Steps, You Will Have Access To The Trading Platform And Can Start Trading With Their Demo Account.
Deposits And Withdrawals
7option Accepts Deposits And Withdrawals Visa, MasterCard, WebMoney, Skrill, UZB SOM And Perfect Money, But We Cannot Determine If All Of These Payment Methods Are Available.
The Minimum Deposit Requirement Is $10 And The Withdrawal Amount Is $3,000, Up To Daily. Withdrawal Commission Is 10% Of The Account Balance. As For The Processing Time Of Withdrawal Requests, It Can Usually Be Processed Up To Three Business Days.
Trading Platform
7option's Trading Platform Is Described As Rudimentary And Lacks The Complexities Common In Reputable Broker Trading Software Such As Metatrader 4 (mt4) Or Metatrader 5 (mt5).
While The Established Broker Aims To Provide Clients With A Feature-rich, User-friendly Platform Suitable For Both Novice And Professional Traders, 7option's, Web-based Platform, Seems Basic And Limited To The Execution Of Buy And Sell Orders.
It Is Worth Noting That The Mere Existence Of An Effective Trading Platform Does Not Necessarily Imply Legitimacy. The Broker's Humble Platform Has Raised Concerns About Its Commitment To Providing A Robust Trading Experience And Highlights The Need For Careful Evaluation And Due Diligence When Considering 7option As A Trading Partner. Traders Should Be Wary Of Latent Risks Associated With Unregulated Brokers And Simplified Trading Software That May Not Reflect Real Trading Activity.
Client Server
7Option Customer Support Can Be Contacted By E-mail Support@7option.com Or Via, Live Chat. Additionally, You Can Follow The Broker On Some Social Media Platforms, Such As Facebook, Instagram And Telegram.
Company Address: Calista Group Ltd., 215581, Suite 1, Rachel Francis Str., Mahe Island, Victoria, Seychelles.
However, The Broker Does Not Disclose Other More Direct Contact Information, Such As The Phone Numbers Provided By Most Brokers.
