GlobalOption is a well-known binary options trading site powered by the EZTrader platform. The site used to attract significant traffic from the US and Canada, but residents of these countries are not permitted by law to trade real money binary options. GlobalOption is owned and operated by WGM Services Ltd and is authorised to offer binary options by the Cyprus Securities Exchange Commission (CySEC). The head office is located in Nicosia Cyprus. The trading platform offers the following options to traders: 60 Seconds, Long Term, Sell Option and Binary Option. Since it uses a browser-based platform, traders can rest assured that no malicious software will be downloaded to their PC.
Features of GlobalOption
This binary options trading platform accommodates traders across the spectrum. The maximum amount per trade is $3,000, but it is possible to trade up to $6,000 on a single option in two distinct trades. This can be done by placing a call and a put option on the same tradable asset. The trading platform uses 128-bit encryption technology (SSL) to guarantee trader information at all times. Traders are required to make a first deposit of at least $200, but there are no maximums on credit cards, wire transfers or via Moneybookers. There are multiple payments options available to traders including JCB, Neteller, Sofort, Skrill, iDeal, American Express, Wire Transfer, Visa and MasterCard among others.
Traders will earn fixed profits if their trades finish in the money. The exact amount is listed at the time of the trade. Options that expire out of the money typically don’t qualify for any cash back; however certain out of the money options at GlobalOption can yield up to 10% cashback. Once you’re ready to start trading, the minimum amount per trade is $25 – significantly higher than many leading binary options brokers. The demo account is particularly useful for new traders, and there are also multiple pages that can be accessed including things like American Binary Options, Binary Option Pay Off, Binary Put Options, Binary Call Options, Binary Call Option Strategy and Binary Put Option Strategy. Several reviews of GlobalOption state that they only have 25 tradable assets, but the true number is significantly higher. At last count there were over 100 tradable assets across all 4 categories.
Learning Center at GlobalOption
Education plays a big part in the success of binary options traders. Fortunately, GlobalOption accommodates new traders and expert traders with a comprehensive selection of trading guides, strategies, tips and resources. These include a glossary, FAQs, journals, beginner’s guide, getting started platform tutorial, trading binary options strategies, market analysis and advanced trading. Traders will also find useful information about auto-trading with binary options robots, market signals, technical and fundamental analysis.
Mobile Trading at GlobalOption
The Binary Advisor reviewed the mobile trading options at GlobalOption and full trading services are offered to iPhone and Android users. The apps are free to download and install on all compatible smartphone platforms. Traders will enjoy free charts, detailed information and a wide range of financial assets including currency pairs, stocks, indices and commodities. The binary options markets are available 24/7 on the GlobalOption app. The user platform is easy to understand since traders simply need to select their preferred asset, employ their binary options trading strategy and wait for expiry time.
Broker ceased its activities.
GlobalOption is a relatively new player in the binary options industry; starting operations in 2010. However, as we’ve seen in previous reviews, new brokers can easily be underestimated. Today, we’ll take a look at GlobalOption’s platform as well as several other factors to see how they stack up against their competition.
The trading platform offered at GlobalOption was less than impressive at first glance. While it’s clear that the broker made an attempt to make the platform as easy to use as possible, the overdone simplicity in the platform actually leads to a poor user experience. The biggest complaint I have about the user platform is the fact that users may only place one trade at a time as there is only one chart in frame at any given time. Many binary options traders, including myself, enjoy the ability to watch several assets at once; all in the same frame. Having the ability to do so allows more opportunities for profit. While there is a spreadsheet that offers views of open trades, the limitation in the number of assets you can watch at any given time can lead to a limitation in profitability.
Deposits & Withdrawals
- Minimum Deposit – One of the biggest hindrances for beginners is large minimum deposits. However, that’s not an issue with GlobalOption. The minimum deposit required with this broker is only $200; making binary options trading accessible to the masses.
- Deposit & Withdrawal Options – Unfortunately, GlobalOption doesn’t offer many options for deposits and withdrawals. As a matter of fact, traders can only deposit and withdrawal money using credit cards or MoneyBookers accounts. I found no evidence that wire transfers or other eWallets were accepted.
Customer Support & Education
Two of the most important factors associated with binary options brokers are customer support and education. When investigating these factors, I found a shocking surprise. The links entitled “24/7 Support” and “LEARNING CENTER” both led to errors….
Generally, we go over unique features. However, there really weren’t any quality unique features offered at GlobalOption. They simply offer the run of the mill binary options trading services.
In conclusion, I would never advise a beginner or expert binary options trader to consider trading with a broker that has errors for both their education center and their customer service. I thought that these errors were simply a glitch, so I checked for several days in a row. Still, the errors persist. With that said, it’s my opinion that GlobalOption isn’t a quality broker and their services should not be taken advantage of by anyone!