OptionTrade review. Scam or not? Check feedback and forum

OptionTrade review

OptionTrade is a brand that belongs to HF Markets (Europe) Ltd., a company registered in Cyprus. The company also owns HotForex, a Forex broker that has been around for some time now. A connection that cannot be overstated since HotForex is an experienced broker with a substantial capital and clients from all over the world.

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OptionTrade is a broker subject to CySec regulation (license no.: 183/12). There are three types of accounts available: Standard, Premium and VIP. The higher the account goes, the more assets to be had. Also, there are higher returns and unlimited access to educational materials. How is it in detail?

A Standard account can be registered with "just" $250, which seems like a lot for a basic account. What do we get? At least 80 assets, 83% return on the winning options and a limited access to webinars and training (level 1).

A Premium account is for those willing to deposit at least $1000. In return, you have access to 120 assets and the maximum return is 85%. You also gain access to the video library with tutorials, which aim at upgrading your trading abilities, or workshops and webinars at a higher level.

As far as a VIP account goes, you need $5000 to start, but you get at least 180 assets and 88% maximum return. The educational materials here are more advanced and we can use the services of an expert.

Here is a table with all the details:

There is a demo account for each type of the accounts above.

 

OptionTrade platform

OptionTrade makes use of 2.0 SpotOption platform, an upgraded version of the basic SpotOption. What changed the most? The visual aspect of the platform, which makes navigation much easier. The platform guarantees access to ~200 assets (VIP accounts): currencies, commodities, stocks, indices. The highest return possible – 88% (VIP accounts), but the Standard 83% is also respectable.

There are the classic high/low options, short-­term options (60, 90, 120, 180, 300 seconds), long-­term options (that can be activated even a year ahead), one-­touch, pair options and ladder trading.

You can open a classic option up to 5 minutes before its expiry time. A special timer shows you how much time there is left to make up your mind. The closer to the expiry time you get, the more time options there are.

What should be also pointed out is that there are many additional features: rollover, double-up, sell option, multi­-view, history graph, trade confirmation and stock pair.

OptionTrade deposits and withdrawals

There are many ways to deposit and withdraw money here: bank wires, credit cards, Skrill, WebMoney, Neteller, IDeal, Sofort.

Your first deposit must be equal or more than $250. Your next deposit may start at $50. When it comes to the electronic methods of payment, the minimum to withdraw has been set at $10. There are no fees for depositing/withdrawing using the electronic methods.

DEMO account

The broker offers a demo account without any principal paid. It's enough to start setting up the account and then choose "Accounts Overview" and "Open Demo Account". Your account will have 1000 virtual dollars so that you can test the platform and your strategies.

Client support

Direct support as well as contacting the account's manager are very professionally handled: 24 hours, 5 days a week (Monday to Friday). You can contact them via e­-mail, chat or phone (+357-­24-­020054).

Educational materials

Here's where OptionTrade stands out: you can start with a pretty straight-forward guide to binary options and an interactive e-­book. To do so, you might need the glossary with all the necessary terms. Once you're done – or if you're already quite advanced – you can go to the OptionTrade Academy with separate multimedia for the beginners and for the advanced.

What is a trend? What is a line of support/resistance? What are the basic technical analysis formations (Shooting star, Harami formation or Three white soldiers)?

Bonus

You can get 100% of your deposit, but no more than $500. It's added to a separate account, "Bonus Account", and must be 20 times the value received to be eligible for a withdrawal. There are no time limits.

OptionTrade SCAM?

There are many different opinions online, but we have found none suggesting that this broker is a scam. We haven't found or received a single complaint regarding the way this platform works. It also important that the broker owns a recognizable Forex brand which belongs to Investors Compensation Fund (ICF) meaning that deposits up to €20,000 are protected against insolvency.

According to the broker it has been audited by KPMG.

Summary

OptionTrade has made quite an impact on the binary options market and soon became a part of the market's landscape. It's clear to see that the website, as well as its educational part, were done professionally. This broker is for short-­ and long-­term traders, since you can set up your options even a year ahead. The initial deposit, $250, is quite a challenge, but a demo account can be registered anytime, by anyone.

Discussion forum and opinions

Forum link

Broker details
Broker’s name OptionTrade
Website url www.OptionTrade.com
Start of 2013
Country of registration Cyprus
Regulation yes (CySec)
Platform SpotOption 2.0
Markets Forex, Indices, Stocks, Commodities
Options high/low, one-touch, short-term, long-term, pairs, ladder
Assets +200
Deposit methods wire transfer, credit card, WebMoney, Skrill, Neteller, Sofort, IDeal
Withdrawal methods wire transfer, credit card, WebMoney, Skrill, Neteller, Sofort, IDeal
Deposit min. $250, re-deposit: $50
Min/max stake $5
Withdrawal min. wire – $150, other methods – $10
Deposit/withdrawal fee none
Profit up to 83% and up to 88% for VIP accounts
Account currency USD, EUR, PLN
Bonus up to 100% but no more than $500
Failed transactions refund none
Demo yes, without a deposit
On-line support yes
Languages English, Polish, Swedish, Czech, Romanian, Portuguese, French, Chinese, Indonesian, Greek, Russian, Italian, Malay, Spanish, German, Vietnamese
US traders no
Expiry times 60, 90, 120, 180, 300 seconds up to 12 months
Educational materials guide, glossary, interactive e-book, webinars, training videos
Mobile trading yes

OptionTrade rank

  • Platform: SpotOption 2.0
  • Launched: 2013
  • Registration: Cyprus
Withdrawal execution
Platform
Support
Functionality and look
Reliability
Payment methods
Educational materials
Return
Assets
Awesome

User Rating:

3.8/5
(2 votes)
  • Platform: SpotOption 2.0
  • Launched: 2013
  • Registration: Cyprus
Withdrawal execution 90%
Platform 88%
Support 84%
Functionality and look 84%
Reliability 82%
Payment methods 84%
Educational materials 100%
Return 88%
Assets 100%
89% Awesome

User Rating:

77
(2 votes)

Pros
  • Cysec regulation
  • High returns
  • A wide range of assets
  • Training materials for both beginners and advanced users
  • Reliable owner
  • Deposit guarantee up to 20
  • 000 euro
  • Professional customer support
  • Economic calendar
  • Enhanced long-term options
  • An ability to open multiple accounts under one login
  • Low re-deposit
Cons
  • Advanced educational materials available only for premium and VIP users
  • No boundary options



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