eOption review

Is eOption a Scam? Is eOption Safe and Legitimate Brokerage Firm? Are Your Money, Assets and Investments Insured?

Is eOption Safe?

We are sometimes being asked the following questions: Is eOption a fraud? Is it safe to use, keep money and investments at eOption? Is money/investments/account SIPC/FDIC insured? The short answer - Yes, it's a legitimate brokerage firm created in 2007. However, it does not look like the company has enough resources to even properly maintain its website. For this reason we don't recommend opening account there. Read more about it in 2015 eOption Review.

Is eOption Insured And Regulated?

eOption is a division of Regal Securities, Inc., a member of the Securities Investor Protection Corporation (SIPC), and as a member of the SIPC, funds are available to meet customer claims up to a ceiling of $500,000, including a maximum of $250,000 for cash claims. For additional information regarding SIPC coverage, including a brochure, please contact SIPC at (202) 371-8300 or visit www.sipc.org.

eOption's clearing firm has purchased an additional insurance policy through a group of London Underwriters (with Lloyd's of London Syndicates as the Lead Underwriter) to supplement SIPC protection. This additional insurance policy becomes available to customers in the event that SIPC limits are exhausted and provides protection for securities and cash up to an aggregate of $600 million. This is provided to pay amounts in addition to those returned in a SIPC liquidation. This additional insurance policy is limited to a combined return to any customer from a Trustee, SIPC and London Underwriters of $150 million, including cash of up to $2.15 million. Similar to SIPC protection, this additional insurance does not protect against a loss in the market value of securities.

eOption BBB (Better Business Bureau) Rating: No rating

Total Closed Complaints - 0: Problems with Product/Service - 0, Advertising/Sales Issues - 0, Billing/Collection Issues - 0, Delivery Issues - 0, Guarantee / Warranty Issues - 0.

Read full eOption Review.

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This article was updated on 2/26/2015.

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