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!