Trade Options Review by professional Forex trading experts the “ForexSQ” FX trading team, Finding out everything you need to know about the broker is in this TradeOptions Review.
TradeOptions Review
TradeOptions is a binary options broker, offering online trading in currency pairs, indices, commodities, and stocks on the popular SpotOption platform.
Trading Accounts
Clients of TradeOptions may choose from several account types, depending on how much money they are willing to invest upon sign-up
A newly-launched binary options brokerage, TradeOptions operates via the website tradeoptionx.org and provides no information about its headquarters, nor about the company behind the brand. The one thing that becomes clear from the broker’s website is that its support team is based in Jakarta, Indonesia. There is no live chat and no demo accounts either, so we could not test TradeOptions’ services.
The above said makes us extremely suspicious, as the world of binary options is overcrowded with all sorts of scam, and making due diligence tests before investing your hard-earned money is obligatory.
On the main page of TradeOptions’ website, there is a section called “Regulation” where the broker claims to be licensed by the Cyprus Securities and Exchange Commission (CySEC) and provides a license number. Indeed, Cyprus is one of the most popular forex and binary options hubs worldwide due to its well-balanced regulation. You can check out a list of brokers licensed to operate in Cyprus (and the EEA), as well as detailed information about the local regulation.
When we checked this number on CySEC’s website, we found it belongs to Holiway Investments Ltd. However, tradeoptionx.org website is not present in the list of approved domains, so we are not sure that this company operates the TradeOptions brand. According to us, TradeOptions simply used the license number to present itself as a reliable and well-regulated brokerage, while in fact it has nothing to do with the above-mentioned company. That is why you’d better choose a regulated broker that has more transparent offering and has already earned itself a good reputation.
Trading Conditions
Trading Options: Call/Put, 60 seconds, One Touch, Ladder, iFollow
Assets: Currencies, Stocks, Indices, Commodities
Expiration times: from 60 seconds
Unfortunately, this broker does not offer Long-term options, nor Pairs for trade.
Minimum Initial Deposit
The minimum initial deposit for clients of TradeOptions is $500, which is a comparatively high amount. Some brokers, however, require less – for example, one needs to invest just $10 to open an account with Grand Capital, which is FinaCom regulated brokerage with more than 10 years of experience in the industry.
Payout amount
The maximum payout amount at Trading Options is 81%, which is not much, actually. By comparison, Grand Capital offers return to a maximum of 86%, and OptionRally – up to 90%.
Trading Platform
Clients of TradeOptions are offered the SpotOption platform, which is one of the most popular in the binary options industry. A useful platform feature is iFollow, which allows traders to follow the successful traders and have all their trades duplicated into their account automatically.
Promotion
Welcome bonus from 25% to 100% of the initial deposit is available to clients of TradeOptions, which are redeemable, provided the required volume has been traded.
Besides, the broker offers a Refer-a-friend promotion. If a client refers a friend to join TradeOptions, they both will receive a $100 bonus.
Methods of Payment
TradeOptions’ clients are provided with a variety of payment methods: Credit/Debit cards, Bank Wire Western Union and MoneyGram.
TradeOptions is a binary options broker that claims to be licensed in Cyprus, but we suspect this is not true, as the name of the company operating the brand is not disclosed and tradeoptionx.org domain is not approved by CySEC.
Instead of the forex broker you can use Plus500, XM, eToro, Fxpro or AvaTrade forex brokers.
TradeOptions Review Conclusion
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