In short Redwood Options is not a scam. In this article below we’ll details why this is so and why did we come to this conclusion.
About Redwood Options
Redwood Options is at this moment one of the larger binary options brokers. This is despite the fact that the broker only began offering its services in 2013. Since then the broker managed to largely stay out of any major scandal or trouble.
The broker only required traders to deposit $200 and offers payout rates of around 85%. Nothing unusual or spectacular here, pretty much all known brokers offer the same kind of deals.
Redwood Options Complains
When I evaluate a broker whether it’s a scam or not one think I do is make a Google search for the broker’s name related to scams or complains. In this specific case I looked for “Redwood Options scam” and “Redwood Options complains” to see what people have to say about this broker.
Like it’s the case with pretty much every single broker in existence, there are indeed some complains out there about Redwood as well. However, the overwhelming majority of all the complaints seem to be related to players not managing to win and losing their money.
While losing your money can be frustrating (unless the broker has scammed you) this is not really the brokers’ fault. A lot of people get started into binary options before properly educating themselves. They just register and then make random trades, obviously losing all their money after that.
After this, these people go on various forums and complain that they lost all their money and somehow it was the brokers’ fault. Well, it could as well have been the brokers’ fault but so far no one has reported that Redwood employs shady methods to determine traders to lose (i.e. fake their options, assets etc.).
I’ve personally traded at Redwood and never saw anything shady in their platform. Other extremely popular websites and watchdogs such as ForexPeaceArmy.com and BinaryOptionsWatchdog.com have also never reported anything of the sorts.
So, even if it might be offending to some people, all the reports of people losing money at Redwood appears to be people who have simply lost their money by having no clue how to properly trade binary options. And this is something the broker cannot be held responsible of.
Redwood Options Payment and Withdrawal Complaints
A very important point to note is that you see almost no payment complaints related to this broker. In other words, those traders who did their research and educated themselves and as such managed to win are perfectly able to withdraw their money.
So, this clearly points out that Redwood Options is clearly not a scam. Pretty much every single scam broker’s MO is that once traders manage to generate some money they refuse to execute the payout citing weird and obscure terms and conditions or banking “problems”. Based on trader feedback on popular forums this is never the case at Redwood.
To find more information on Redwood Options you should also check out pour full review that we created about this broker. There, you will find detailed information about the type of options offered, payout rates, withdrawal policy and other aspects.