BigOption Review (2023)
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Company name:
Wirestech Limited (BigOption).
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Registration Address/ License:
Marshall Islands. Broker with Offshore License and No Regulation.
About BigOption
| 🗺️ Registered in | Marshall Islands |
| 🗺️ Type of License | Offshore License |
| 🛡️ Is BigOption safe to trade | No |
| 🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
| 🖥 Alternative Broker | GO Markets - licensed by ASIC in Australia |
Wirestech Limited is the company that claims to be based in the Marshall Islands and run trading brand BigOption while that offers binary options trading (Check Regulated Binary Options Trading), as well as other derivatives investment opportunity.
In fact, Marshall Islands is an offshore zone attracting various firms that for the reason or another escape from the serious regulation or compliance to international service providing. However, in the case of the financial investment or trading firms, the company should be a very respected entity, as the statistics show that the majority of non-authorized firms never recovered the sums of investors investments. Therefore, we always advise avoiding offshore or companies with no license as there are too many frauds around.
In the case of the Wirestech Limited (BigOption), the broker also has appeared in the supervisory authorities of Ontario and British Columbia back in 2016 with the subject of a warning to the investors. While the European authorities warned potential clients and resident about the company offering too, meaning the firms was blacklisted almost by every regulatory entity.
Ontario Securities Commission Warning
“The Financial Services and Markets Authority (FSMA) warns the public against the activities of Wirestech Limited, trading under the name BigOption, a company that offers highly risky investment instruments in Belgium without complying with Belgian financial legislation.”
FMSA, Belgium. March 2017.
At the glance appearing various companies that propose potentially high incomes with ease and convenience, yet the trader should check first if the broker complies with the financial legislation in order to avoid frauds. Therefore, we also advise choosing among the firms with authorization status that been received from the major regulators from around the world. Check our reviews on regulated brokers like LegacyFX, Eightcap or FXCC.