Basic Information & Regulation of SiamOption
SiamOption is a binary options broker, mainly targeting a client base in Thailand and across South East Asian. SiamOption claims to have started offering financial services in 2013, but SiamOption is currently not subject to any effective regulation.
Safety Analysis
SiamOption is an unregulated broker, which means that the safety of investors' funds and trading activities are not protected in any way. Therefore, it is best for investors to stay away from this SiamOption binary options broker.
Market Instruments
Investors can trade a wide range of financial assets on the SiamOption platform, mainly Forex pairs, cryptocurrencies, indices, commodities, and stocks.
Accounts of SiamOption
There seems to be only one account offered on the SiamOption platform, and the minimum deposit for this account is 400 baht.SiamOption promises very high payouts, up to 90%, for popular currency pairs like the EURUSD. Most binary options brokerage, on the other hand, offers payouts in the range of 81%-86%.
Trading Platforms Available of SiamOption
SiamOption offers traders an in-house online trading platform with good charting tools, offering a variety of charts as well as a large number of technical analysis indicators, which is quite rare among binary options providers, as most of them offer a very basic trading interface without any analytical tools.
Deposit and Withdrawal of SiamOption
SiamOption only supports traders to deposit or withdraw funds to their investment accounts via VISA, MasterCard. SiamOption offers extremely limited access to funds compared to brokers that allow traders to deposit and withdraw funds via wire transfer and some popular electronic payment methods. Besides, SiamOption also sets some limits on daily, weekly, and monthly withdrawals.
Pros & Cons of SiamOption
The main advantages of SiamOption are:
1. Low minimum deposit
2. Free demo account
3. Higher payouts
The main disadvantages of SiamOption are:
1. No regulation
2. Non-MT4/MT5 trading platform
3. Limited withdrawal method
4. Only one account option available
