Binary options has become an increasingly popular investment vehicle. As a result, more and more binary options brokers are starting to hit the scene. So, as a trader, it's becoming more and more difficult to narrow down the options to just one. However, in my experience, there are few binary options brokers that rein supreme above the rest. Today, we'll take a close look at MarketOptions to find out if they are indeed one of those brokers.
One of the first things I noticed about the MarketOptions trading platform is the fact that they offer an incredibly wide array of trading assets. With more trading assets available, traders have an easier time finding profitable opportunities; and while a good range of trading assets in the binary options industry is 50 or so, MarketOptions currently offers more than 100. It's also important to mention that I found the platform incredibly easy to navigate. Ultimately, this makes for a better user experience. While the company focused on ensuring that all of the tools experts would need were available, they also made a clear effort not to build a convoluted platform filled with options and data that traders wouldn't find useful. All in all, I found the trading platform at MarketOptions to be incredibly intuitive and user friendly.
Deposits & Withdrawals
- Minimum Deposit – One of the factors that seems to stop many new comers from entering the binary options trading market is high minimum deposits. However, with MarketOptions, their minimum deposit is $/€200. While this isn't the lowest minimum deposit you'll find, it's definitely not the highest either.
- Deposit & Withdrawal Methods – Traders that use MarketOptions can deposit or withdrawal funds using a credit card, wire transfer or the CashU online wallet.
It's also important to mention that withdrawal requests are processed in a reasonable amount of time. That is, as long as all international documents are on file.
There are 4 account types, which differ in deposit amounts (mini – 500-2500 and infinity – 25000 +), investment bonus (25%-100%), time for personal trading sessions and sets of special (VIP) services.
It’s also worth mentioning that currently they are working only with USD, EUR, GBP.
Customer Support & Education
When choosing a binary options broker, one of the most important factors to look into is customer support. After all, you want to make sure that if you have any questions or concerns, there is someone there that's not only willing to answer your questions, but eager to help. MarketOptions currently offers customer support from 8am to 5pm Monday through Friday. You can reach support via phone, email or live chat. In speaking with their support staff, I found that they were incredibly well trained. Beyond the knowledge the support team had with regard to binary options as a whole, they were also very interested in ensuring that all of my needs were met.
Unfortunately, however, the company's education center didn't live up to the quality seen in the trading platform and customer service offered. I was able to find one article that provides an incredibly brief overview of what binary options are and how to trade them. I was also able to find a daily market analysis as well as a brief overview of some of the features offered by the platform. However, the broker lacks a full education center that discusses strategy, risk management, and other key factors in the development of a binary options trading professional. In my opinion, by not providing adequate training materials, MarketOptions is missing one of the integral points that binary options traders should look for in a binary options broker.
While MarketOptions offers the majority of features that one would expect from a binary options broker, I was also able to find three features that aren't generally offered.
- Sell – The sell feature gives binary options traders the ability to sell their options for a profit before the expiry period ends for a premium. This feature can prove to be valuable in the risk management arena.
- Double Up – MarketOptions also gives traders the ability to double their investment before a trade expires if it looks like it's going to end in-the-money. This gives the trader the ability to maximize earnings.
- Roll Over – On trades where it doesn't look like the option is going to end in-the-money, MarketOptions traders have the ability to use the roll over feature in an effort to extend their expiry period; ultimately giving their predictions more time to come to fruition.
All in all, I was impressed with what MarketOptions had to offer; however, I was also a bit unhappy with what they were missing. If you are an expert trader, MarketOptions may just be the broker for you. However, if you're a beginner, I would advise against working with MarketOptions as they don't offer adequate training materials; ultimately setting beginners up for failure.