SW1 Options Review – Deposit, Withdrawal, Scam or Not?
If you have been looking for a new online binary options broker it is possible you might have come across SW1 Options and if you have taken the time to search for more information you might have come across an older article with some negative information on SW1 Options. The company now claims to be under new management so does everyone deserve a second chance in life? Let’s take a look at what the company offers.
SW1 Options currently have listed 4 different account types on their home page that their clients can choose to sign up with. Basic offers one on one trainig, Premium comes with an account manager, Platinum offers trading tips and PPP comes with a private placement program and unlimited strategy. If you want to create an account first of all you just need to provide standard information like your telephone number, name and birth date.
Location and Offices
One good way to tell if a broker is a scam is to check if they have a real office or are using a fake address. SW1 state that they have an office in Wimbledon London and Sharjah UAE. To be honest their address looks more like a house but it’s hard to tell really, if you do get scammed though at least you know where the guy potentially lives (only joking).
Like most online brokers looking to recruit client SW1Options offer a range of free education resources for potential traders looking to learn the ropes. Probably one of the the most appealing resources is the one on one training that can be request by providing your name, email and phone number. This will let be you mentored by a professional trader. They also have an Ebook guide listed on their website but although when I tried to download it nothing happened and their economic calendar as well returned a 404 error with what looks like some sort of embed from the Delta Stock broker. If you cannot access to their ebook then looking at their FAQ section is a good way to learn a lot of information as they have answer many different trading related queries.
Once you’ve signed up for a broker, made a deposit and made successful profitable trades you still shouldn’t really relax. The final withdrawal stage is the most crucial for any trader because this is the stage at which most scams take place. To request a withdrawal from SW1 there is a PDF form that you first need to print out, sign, scan and then email to SW1 for their compliance officer to review. If everything matches up SW1 claim to be able to send the money to your account within less than a week which is pretty standard. They might also request more documentation because of anti money laundering rules and that means you may or may not have to send them a copy of your ID for example to prove you are who you say you are. SW1 state that you can request a withdrawal 24/7 and you do not have to give them reason for requesting one.
Even with the best brokers you are always going to run into some sort of issue and when you’ve got a lot of your personal money invested with a company it’s good to know you can get good fast competent support. You can contact SW1 at via phone +44 02035147878 and email info@SW1-options.com and their english speaking support is usually pretty fast.
I would be careful with SW1 based on their previous history but would consider opening an account with them. Let me know what you think in the comments below.