CloseOption has been flagged by Commodity Futures Trading Commission for "Other". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I trusted CloseOption with a significant portion of my savings and I deeply regret that decision. Not because of market losses, but because of how poorly the platform performed and how dismissively the support team treated my concerns.
Pros: Customizable dashboard|Personal attention|Social trading features|Risk management tools
Cons: Spreads widen during volatile periods|None so far
Customer support at CloseOption seems to be run by people who have never used the platform. Every time I call with an issue, I end up explaining how their own system works before they can help me. It would be funny if my money was not involved.
Pros: Automated trading options|Social trading features|No hidden fees|Full transparency
Cons: Help articles are sometimes vague
KYC with CloseOption is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Copy trading available|Intuitive for beginners
Cons: Email notifications too frequent|Wish they had more educational resources
I found this company through a friend who recommended it. Before investing, I checked various regulatory databases and found that CloseOption has been flagged as an unauthorized entity. I informed my friend immediately. Please always verify with official sources - a quick search could save you thousands.
Pros: Website looks legitimate on the surface
Cons: Flagged by Commodity Futures Trading Commission|Cannot verify credentials
I invested $3,500 with CloseOption after seeing their professional-looking website. At first, everything seemed fine - they showed me impressive returns on my dashboard. But when I tried to withdraw, they kept making excuses. First it was "processing time," then "verification needed," then "you need to pay a tax fee first." I never got my money back. I have since reported them to Commodity Futures Trading Commission.
Pros: Initially responsive customer service
Cons: Lost entire investment|Reported to authorities|Unresponsive
CloseOption has no proper customer support. The live chat is a bot. The phone number goes to a call center that cannot access your account. Email takes two weeks. When I had a real problem they were nowhere to be found.
Pros: Easy to use platform|Stable platform|Transparent fees|Great customer service
Cons: Wish they had more educational resources
After for just over a year with CloseOption I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: Customizable dashboard|Comprehensive tools|Demo account available|Economic calendar
Cons: Account statements could be more detailed
CloseOption locked my account without warning and demanded documents I had already submitted. for roughly four months later I still do not have access to my funds. Their compliance team does not respond to emails. I am considering legal action.
Pros: No hidden fees|Responsive team|Easy withdrawals|Reliable uptime
Cons: Wait times can be long during peak hours