Our Review of Verum Option
Verum Option is an online broker that places great emphasis on maximising the amount of money you can earn in the shortest possible timeframe.
Account Types + Opening
Accounts are free to open with Verum Option and opening an account takes just a few moments with a short online form. Additional data (for instance, to prove identity) will need to be provided either initially or at a later stage when traders come to want to withdraw their money from Verum Option.
Promotions, Sign Up + Deposit Bonuses
Verum Option is rather unusual in the trading industry because it does not offer any kind of promotion or welcome bonus.
Commissions and Fees
One thing that traders often critique about Verum Option is the fact that it is not explicit and transparent about its fees. Though there are no account opening fees, you will need to pay fees for some of Verum Option's services, as well as paying a commission of around 3% on your trades and also paying fees when you want to withdraw money from the platform. Some deposit methods involve fees too - for instance, if you want to make a deposit with a Visa debit card, a 3.5% fee will apply.
Trading Platform Review & Mobile Apps
Using this trading platform is pretty easy. It is a standard SpotOption platform, and there are various features that are tailored to suit beginners in the field of trading. For example, whilst the minimum deposit with this broker is usually $50, beginners can start out by trading with a minimum deposit of $5. And, the minimum stake is very low too - just $1. Unlike many other brokers, moreover, Verum Option also has a smartphone app so that you can trade on your smartphone too whilst you are out and about and on the go.
Deposits & Withdrawal Methods + Ease
Deposits can be done by credit or debit card. Customers in the UAE and some other countries in the Middle East can also take advantage of bank transfer services. Finally, a few online payment accounts are supported with Verum Option, such as UPay. Some of the key online payment providers that are widely used in the trading world - such as Skrill - are not supported, which can make deposits and withdrawals less easy for traders.
Regulators & Safety: Are they a reliable, legitimate broker or a scam?
Based in Scotland, Verum Option is registered as a broker but it is not licensed.
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