General Information
Options Legion, founded in 2018 and based in Cyprus, is allegedly a broker based in Cyprus that provides its clients with trading solutions to trade in forex, cryptocurrencies and bullion metals like gold and silver, a web-based trading platform, various tradable assets, as well as a choice of four different investment plans. Despite offering flexibility and accessibility, it's crucial to highlight that Options Legion lacks regulatory oversight, emphasizing the need for caution due to the inherent risks associated with unregulated trading.
Is Options Legion Legit？
Options Legion is not regulated. It's crucial to emphasize that Options Legion lacks valid regulation, indicating its operation without oversight from recognized financial regulatory authorities. Traders must exercise caution and understand the associated risks when contemplating trading with an unregulated broker like Options Legion. Such risks may include limited avenues for dispute resolution, potential concerns regarding fund safety and security, and a lack of transparency in the broker's business practices. Therefore, it's strongly recommended for traders to conduct thorough research and carefully consider a broker's regulatory status before engaging in any trading activities, thereby ensuring a safer and more secure trading experience.
Pros and Cons
Options Legion presents traders with the advantage of offering multiple account types, catering to a variety of trading preferences and needs. However, it's essential to note that Options Legion operates without regulatory oversight, which may expose traders to potential risks associated with unregulated trading. Additionally, the platform lacks clarity regarding spread and commission information, leaving traders uncertain about trading costs. Furthermore, the absence of educational resources and transparency regarding company policies and procedures may present challenges for traders seeking guidance and understanding. The inability to access the website further complicates matters, hindering traders from obtaining essential information and conducting transactions smoothly. In conclusion, while Options Legion provides trading opportunities, traders are advised to exercise caution due to the absence of regulatory supervision and the limitations in support resources.
Market Instruments
From Options Legions name, we can easily know this broker offers option trading. Besides, it also advertises that it offers some other trading instruments in financial markets, including forex, commodities and indices.
Investment Plans
There are four investment plans offered by Options Legion, namely Bronze, Silver, Gold and Diamond. Opening a Bronze plan requires the minimum initial deposit amount of $50, while the other three investment plans with the minimum initial capital requirements of $200, $500 and $1,000 respectively.
Commissions
Commissions are influenced by what investment plan traders are holding. In terms of referral commission, clients on the Bronze plan will experience 4%, while the Silver plan with 5%, the Gold plan with 6% and the Diamond plan with 7%.
Trading Platform Available
When it comes to trading platforms available, instead of the worlds most widely-used MetaTrader4 and MetaTrader5 platform, Options Legion seems to give traders a Web-based platform, yet we have no way to confirm if it is really available.
Deposit & Withdrawal
Options Legion accepts payment methods via Perfect Money, Tether USDT and Credit Card Payment. The minimum initial deposit is $50 and the minimum withdrawal amount is $10. Note that withdrawal is available only on Monday and it will charge a withdrawal fee of 4% for all investment plans.
Fees
Apart from withdrawal fee involved before, Options Legion also takes a registration fee of $10 for annual membership.
Customer Support
Options Legions customer support can be reached through telephone: 35796950976, email: support@optionslegion.com. Besides, you can also follow this broker on some social media platforms like Facebook, Twitter, Instagram and LinkedIn. Company address: Krinou 3, 4103, Agios Athanasios Municipality, Lemesos Cyprus.
Conclusion
In conclusion, Options Legion offers multiple account types, providing flexibility for traders. However, operating without regulatory oversight poses potential risks. Additionally, unclear spread and commission information, along with limited educational resources and transparency in company policies, may hinder traders' experience. The inability to access the website further complicates matters. Traders should approach Options Legion with caution due to the absence of regulatory supervision and limited support resources.
FAQs
Q: Is Options Legion regulated？
A: No, Options Legion operates without regulation, which means it lacks oversight from recognized financial regulatory authorities.
Q: What trading instruments are available on Options Legion？
A: Options Legion offers a variety of trading instruments, including forex, commodities, and indices.
Q: What account types does Options Legion offer？
A: Options Legion provides several account types, including demo, bronze, silver, gold, and diamond, catering to different trading preferences and experience levels.
Q: How can I contact Options Legion's customer support？
A: Traders can reach Options Legion's customer support team via email at support@optionslegion.com. Additionally, traders can contact Options Legion by phone at +357 96950976.
Risk Warning
Trading online carries substantial risk, and there is a possibility of losing all invested capital. It may not be suitable for every trader or investor. It's essential to fully understand the risks involved and recognize that the information provided in this review may change due to updates in the company's services and policies. Additionally, the date of this review's creation is important to consider, as information may have evolved since then. Therefore, it's recommended to verify updated information directly with the company before making any decisions or taking action. Ultimately, the reader is solely responsible for utilizing the information provided in this review.
