Are you thinking of getting started with trading? We have got some interesting insights for you! In this review, we’ll spill the beans on 1Prime Options, a broker platform based in the Marshall Islands.
We will uncover whether the broker is a good option to trade with and analyse features like regulation, trading accounts, platforms and so on. Check out the quick overview before we jump into the details.
|2-3 years ago
|Own trading platform
|Forex, Commodities, Currencies, Indices, Cryptocurrency
|AUD, CAD, CHF, JPY, NZD, USD, EUR, GBP, NZD, SGD, CNH, MXN, HKD, NOK, PLN, RUB, SEK, etc.
|Not mentioned on the website
|Ticket raising and email
|Local bank transfers, Bitcoin.
|CONTESTS AND BONUSES
What is 1PrimeOptions?
1Prime Options is an online binary options trading company headquartered in the Marshall Islands. It is a relatively new platform founded 2-3 years ago that allows one-click trading on various trading assets.
The platform is unavailable in certain countries, including Canada, the United States, Puerto Rico and Israel.
What is Binary Options Trading?
Binary options trading is like betting, where traders predict the price direction of different assets. Suppose you bet that a commodity’s price will increase; if it does, you will profit from your investment. However, if your prediction goes wrong, you will lose your investment.
The 1Primeoptions platform allows you to practice options trading with a minimum $1 investment. The period of trading is limited, which gives scope for quick results and profits.
Is 1Prime Option Regulated?
The regulatory status of this broker is unclear. We have found no information on 1Prime’s regulation on its official or any other website.
A safe and regulated broker platform ensures that your money is in safe hands. Moreover, in case of any scam, you can fall back on legislation and sue the regulatory body.
Trading with an unregulated broker doesn’t provide that safety net. Therefore, choose your broker wisely. Since 1Prime lacks regulation, you can opt for Capitalix Broker to experience secure trading.
Pros and Cons of One Prime Options
So far, it is evident that 1Prime has certain advantages and disadvantages. Let’s see what they are:
|User-friendly platform with features like one-click trading
|Lacks regulation and website transparency
|A demo account is available
|The withdrawal and deposit options are limited and not mentioned clearly on the website.
Opt for TradeEU broker to access multiple transaction options.
|Low minimum deposit
|There is no information on spreads, leverage or commissions
|Various trading assets like stocks, forex, commodities, indices, crypto
|Available in Spanish and English language
|Fast execution speed
What Are The Account Types Offered?
1PrimeOptions offers two types of trading accounts, which are demo and real or live accounts. However, it does not offer Islamic accounts for Muslim traders. Check out broker Equiity Broker to access Islamic accounts. Let’s look at the features and guidelines for both.
The broker’s factual account is a live trading account that guarantees at least a 90% profit in case of correct price movement prediction. The broker has specific eligibility criteria for trading with real accounts, such as:
- The trader must be older than 18 years.
- Verifying the account with relevant documentation is a must.
- 10 USD is the minimum deposit required to start trading.
1 Prime Options demo account is easy to create and does not require any initial deposit. You can click the “create demo” button and enter basic details like name, phone number and email address.
You now have an active demo trading account in which $10,000 is automatically credited. Now, you can easily trade from your profile dashboard, which should look something like the image below. 1primeoption demo account provides an opportunity for novice traders to trade with safety.
How to Open an Oneprime Options Account?
- Go to the broker’s official website, 1primeoptions.com.
- Locate the “operate” button on the website.
- Click on the button to go to the registration page.
- Enter your personal information, click the three checkboxes below, and press send.
- Now you have an active 1prime option account, add funds to your account and start trading.
Deposit and Withdrawals
This broker provides detailed information on the deposit and withdrawal processes. It only supports transactions through virtual wallets. To help you understand better, we have explained the processes below:
The minimum deposit required by 1primeoptions is $10, which can be done through your real account’s dashboard. To deposit the amount, go through the steps below:
- Go to the 1primeoptions login window and enter your credentials.
- Enter the amount you wish to add, which should not be less than $10, and click on “deposit”.
- Follow the deposit instructions provided by the broker platform. This might include details like the amount in BTC or Bitcoin and the address to send it to.
- After sending the money, wait for the platform to confirm the transaction, which will take 2-3 hours to reflect.
The broker only allows transactions through BTC virtual wallets. Moreover, the 1primeoptions only supports CEX.io BTC wallet or address. So, you must have a CEX.io virtual wallet to trade with this broker.
The withdrawal process is similar to the deposit process. Follow the instructions below to get a better insight.
- First, you must log in to your account.
- Inside your account, find the Option that says “Withdraw funds” and click on it.
- Enter the amount of funds you wish to withdraw from your account. Click on the button that says “Withdraw”. Now, the platform will start processing your request.
- The 1prime Option’s agents will call to confirm your withdrawal request and BTC wallet or address.
Trading Instruments and Platforms
The platform offers a wide range of instruments to trade with, including forex, stock, commodities, indices and cryptocurrency. With the variety of available assets, you can diversify your trading opportunities. Check out the detailed overview of trading assets in the image below:
1Prime Options has its trading platform. Apart from the website, the broker is also available for mobile trading, making it convenient for traders.
One of the platform’s advantages is that it is easy to use and suitable for novice traders. Moreover, it offers a robust set of tools and security to allow safe trading.
However, the platform does not have clear regulations and lacks certain features and customization.
Leverage, Spreads and Commissions of 1PrimeOptions
There is no information on one prime’s spreads, leverage and commissions. Since these are crucial aspects of trading, the lack of insight is a glaring red flag. Go for Xpro Markets broker to access tight spreads and competitive leverage.
Anti-Money Laundering Policy
Money laundering is when criminals transfer illegally collected funds to legitimate financial systems or use the money for illegal activities. In the trading business, there are high chances of these frauds happening.
But through policies such as this one, the attempts could be minimized. One Prime Options claims strict adherence to the rules and principles meant to prevent such scams. Moreover, the broker requires verification before every trade to ensure utmost safety.
You must submit a copy of your passport, legal ID, bank account statement and credit card to legally trade with the broker. So, this policy is meant to create optimum safety for trading.
1Prime Option’s Privacy and Security
The broker offers many policies to ensure the client’s safety and security. Check out the privacy and KYC policies in detail below:
So KYC or Know Your Customer policy is a source to gather detailed client information to verify the customer’s identity. Under this policy, 1primeoptions require your identity and residential proof.
If you do not verify your account, certain features won’t be accessible to you. Plus, without this documentation, your withdrawals won’t be processed.
This policy is to ensure the utmost protection of the client’s personal information.
- The broker only accepts strong passwords to ensure security.
- KYC verification is a must before you start trading.
- There is an age criterion to protect minors. If you are under 13 years old, the broker doesn’t allow you to trade under child protection laws.
- Your personal information may be shared with affiliates and partners to provide requested services and offers.
Although there is a lack of information on the website, the broker claims to offer certain educational resources, discussion groups and learning centres.
The resources claim to provide trading insight for both experienced and novice traders. Check out Loyal Primus Broker for a more comprehensive educational course, video tutorials, etc.
1Prime Options provides different channels for customer support, including email support, social media, discussion groups, etc. However, it does not offer phone support and live chat to allow instant feedback or solutions to customers.
For any queries, you can reach out to the agents through the website. Just go to the website and locate and click on “contact”. Now you can enter your details and query and send it.
To access email support, you can reach out through the following IDs.
Customers have shared their experience with the broker on legitimate platforms like Trustpilot, Facebook page etc. We have gathered some of the reviews below:
On Facebook, we have found that customers are unsatisfied with 1prime’s services. Users have complained about issues with the withdrawal process and customer support. This raises concern over the broker’s claims.
Trustpilot is a recognized broker review website and a great platform for collecting customer feedback from. As per the source, customers have claimed the 1prime option broker to be a scam; the complaint was registered a few months back, which is fairly recent.
It is another trusted broker review platform where we found several customer complaints against the one prime options broker. Delays in payment, scams, and lack of good customer service were the major concerns.
Trading with 1Primeoptions seems like a risky bet. On one hand, it offers features, trading instruments, security policies and so on. On the other, it lacks regulation and has negative customer reviews.
Trading with 1Primeoptions will be like playing with fire. Therefore, we would recommend you not to choose because it is an unregulated broker.
Safe and secure trading should be the utmost priority to achieve exceptional trading performance. So, go for a regulated options trading broker to be extra careful.
How to Withdraw money from 1Primeoptions?
To withdraw funds from 1Prime Options, log into your account and click on “Withdraw Funds”. Now enter the amount you wish to withdraw, the broker does not provide information on the minimum withdrawal amount. Once you confirm the withdrawal, the money will reach your BTC wallet in 1-2 business days.
How to Deposit in 1Primeoptions?
To deposit funds, first log in to your account. Then go to the deposit section and enter the amount, a minimum of $10. Now the broker requires you to select your BTC wallet or address. Once that is done the amount will reflect in 2-3 hours.
How to Login to One Prime Options Account?
For 1 prime option login, you must visit the official website, click on “Operate,” and go to the registration page. Enter your details and agree with the terms and conditions and enter. Now you have an active One Prime Options account, log in with your credentials to access your profile dashboard.
What is the Minimum Deposit of One Prime Option?
One Prime Option’s requirement for a minimum deposit is $10.
What is 1 Prime League?
This is the trading competition initiated by the broker platform. If you are a trade enthusiast, you can participate in Leagues from your real trading account. You just have to purchase the ticket for the league you wish to participate in and win exciting prizes.
Is OnePrime Options Reliable?
Trading with OnePrime Options is risky due to a lack of regulation and negative customer reviews. This makes the broker unreliable.
Opt for regulated brokers to ensure safe and secure trading.