Goptions Binary Broker Review
GOptions is one of the most established names to feature among our reviewed brokers, having launched back in 2009. It has certainly managed to stand the test of time among traders, who consistently return to the brand as their investment platform of choice, often finding something new to explore when they do so. The platform has made it its priority to remain at the cutting edge of new developments. For example, it was one of the very first platforms to combine options trading with its Forex equivalent and continues to be a leader in both fields. We couldn’t wait to take it all for a spin as part of our review and the results of that can all be found in the full review below.
The short version of covering the features at GOptions is that the platform certainly has plenty to offer to traders, with everything that experienced traders would expect being available in the same place. However, it also boasts a number of special features that serve to set it apart from the norm, such as the buyout, rollover and double up feature. The buyout option allows traders to close a position before its standard finishing time, while a rollover trade will see that position’s time limit being extended beyond what would normally be expected. When doubling up, traders can duplicate a certain trade with a single click, making use of current market sentiments and values.
The main bonus to be on the lookout for at GOptions is the signup bonus, just as with most major platforms. The size of the bonus itself depends on the type of account being opened, as detailed below, but there is no upper limit on the size of the bonus that traders can expect to receive and just $200 is enough to get an account opened and a bonus redeemed.
Top Level Payouts
GOptions is right up there among the highest in the industry when it comes to potential returns, with a stated return on investment of 90 percent on all regular trades. There are plenty of more exotic trading choices available through the platform too and while they are higher risk, they can certainly make for higher rewards too with traders able to benefit from up to 200 percent returns.
You don’ necessarily need to be the most experienced trader in order to take advantage of these returns either, as the minimum trade value comes in at just $5. That said, even those aforementioned experienced traders will not need to make any kind of compromise when it comes to getting the most out of the platform as trades of up to $5,000 each are possible, ensuring a wide range that is suitable for any kind of investor.
GOptions offers different accounts for all sorts of trading styles and, like most other platforms, will automatically assign an account level to traders based on the size of their minimum deposit. They are referred to as loyalty programs rather than accounts in GOptions’ own terminology, but for the sake of comparison with our other reviewed brands, they are essentially the same thing.
The Micro Account
The lowest level of account at GOptions is the micro account and this is where any trader that makes a deposit of between the minimum of $200 and $499 will find themselves. In addition to market reviews from GOptions own team, traders will also receive a 25 percent bonus on their first deposit and a further 10 percent boost on every deposit made thereafter.
The Mini Account
A step up from the Micro Account is the Mini Account, which will require investors to deposit between $500 and $999. The bonuses rise to 35 percent on signup and 20 percent on every other deposit and members will also benefit from four risk free trades of $25 together with a weekly training call with an investment expert.
The Standard Account
The Standard Account lives up to its name by encompassing a wider deposit range than those that came before it and it will see traders needing to deposit between $1,000 and $4,999. The signup bonus rises to 50 percent on this tier, with a further 35 percent bonus on all other deposits. There are also four risk free trades once again, but these are valued at $50 as opposed to the $25 of the previous tier.
The Gold Account
Deposit more than $5,000 but less than $9,999 and you will immediately be placed in the Gold Account tier, complete with a 75 percent bonus. Every bonus made thereafter will be boosted by a further 50 percent and the value of the risk free trades at this level rises to $250 each. Gold members will also receive market news, auto trading signals for a month and ten percent insurance on every trade made.
GOptions VIP Account
The highest account level that GOptions has to offer is the VIP account and this is what will be awarded to any investor that makes a first deposit of more than $10,000. It can be well worth it as the welcome bonus, together with every single deposit the member makes thereafter, will be matched at a full 100% rate. Four risk free trades are on offer once again, this time at $550 each, together with three months of auto trading signals and the return of the ten percent insurance stipulation on trades. Members on this level will also have direct access to an account manager through Skype at just about any time they need them.
As noted, account levels are assigned automatically based on the size of a deposit and traders of any level will need to verify their identity prior to actually getting into any of the action. Scans of photo ID, a credit card and a utility bill will need to be submitted to GOptions before any trades take place but this process usually takes no more than a day to be completed.
The GOptions Platform
The good news for any traders that holds accounts with many other trading platforms is that GOptions makes use of perhaps the most popular one in the industry, that being SpotOption. It is possibly the most user-friendly system out there and supports just about anything that a trader would want to do. That covers a number of different trading opportunities, covering everything from High/Low options and One Touch options to Ladder options, and also covers trades lasting anywhere from thirty seconds to thirty days. Assets comprise the standard selection of stocks, commodities, currencies and indices so traders will not need to miss out on any of their favourite trading opportunities.
The GOptions Education Section
The GOptions learning tools are not the most extensive, but if you’re more interested in quality than quantity then the Education Section is certainly worth exploring. The crown jewel of this part of the site is undoubtedly the demo account, allowing traders the chance to get acclimatised to what the platform has to offer with absolutely no risk at all to their own balance. It is a more than adequate depiction of what the main site has to offer and so is the perfect place to get some practice in or to try a new strategy.
Managing Your Money
The range of banking options offered at GOptions is particularly impressive due to size alone. Everything from credit and debit cards to wire transfers and electronic wallets are fully represented across the site and there are even some lesser known wallet services thrown in too. We would even go as far as to say that this is the largest selection we have ever encountered and so the likelihood of disappointment is practically zero. This is matched by a wide range of currencies too, with traders able to use US or Australian Dollars, British Pounds or Euros as their account currency of choice.
The vast majority of these banking methods can also be used for withdrawals and traders at GOptions benefit from the fact that there are no minimum withdrawal amounts with this provider. There are fees but they are by no means excessive and fall into line with what we would consider to be the industry standard. These withdrawals are quick too – in testing for this review, all of our requests were processed and honoured on the same day that they were made.
GOptions Customer Service
We actually had a really good experience with the support team, which was quick to respond and able to thoroughly answer the questions put to them. They are available by live chat, email and phone, with the latter benefiting from toll free numbers in the US and the UK. The international flavour of the brand does not end there either, as support through all channels is offered in English, French, Arabic and German to measure up nicely to the broker’s international customer base.
GOptions Review in Summary
GOptions has a track record for quality and we could find no reason not to like just about everything about the platform. It is already a big name and if you’ve heard good things about it before, the chances are that they were true. If we had to pick on anything, then the provider could perhaps offer slightly more by way of assets, although the existing selection is already comfortably among what we would consider to be the industry standard range. The support is the icing on the cake for a great all-round broker and one that we have absolutely no hesitation in recommending.