Year established: 2009
Minimum Deposit: $100
Minimum Trade Amount: 5$
Bonuses: Up to 100%
Mobile Applications: Yes
Languages: English, French, Arabic
Headquarters: United Kingdom
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Trading Platform
Goptions is an online binary options broker that serves traders worldwide. During this Goptions review we found the trading platform to have a refreshingly modest design, which was a lovely change from other brokers who tend to complicate matters with overly busy trading platforms and too many options that confuse the process instead of clarifying it.
Goptions does, of course, offer ample trading options, it just presents each one in its own place, guiding traders to their destination with easy to follow yellow and blue tabs. In fact, Goptions boasts that its platform is counted among the most advanced trading platforms for binary options, with over 200 underlying assets from more than 30 countries worldwide.
The company’s Binary Options platform, recognized as the most popular platform, is also the most basic one. It provides traders with the opportunity to trade the High/Low Binary Options (Up/Down Binary Options). A trader can choose his/her own expiry date, and the payout appears right on the screen. This type of platform is great for novice and inexperienced traders.
The Option Builder platform allows traders to customize the parameters of a trade to their own individual trading strategies. It is principally useful for more experienced traders who understand the market and would like more flexibility in order to create their own trading style.
There are three other trading platforms, including a 60 seconds options where traders can trade with as low as $5 and a minimum deposit in just $100 and can profit in just one minute if they get it right. The Pro Trader Platform is Goptions’ prize trading platform and presents traders with everything they need in a well organized trading window. This can include larger graphs, asset history, options analysis and their unique ‘buy me out feature”.
The one feature we found extremely unique at Goptions was their “Lucky Sunday’s” Promotion which rewards a lucky trader with $100 cash prize directly into their trading account every Sunday. The requirement for the prize is simple; the one with highest amount of winning trades will qualify for the $100 real money prize.
I was also pleased to see that Goptions offers a free Demo Account for beginner traders. However, it doesn’t list how long this account can remain open before requiring the trader to open a real account. Clicking on the demo account button takes you directly to the registration form. It would be nice to know a bit more about the conditions of the account before opening one.
Mobile Trading
Trading is available on IOS (Apple) devices such as Iphones and Ipads, as well as on Android phones such as Samsung, Nexus, HTC, as well as tablets.
Assets (Partial List)
Stock: AMAZON, APPLE (US), BARCLAYS, BIDU, BRITISH AMERICAN T, FACEBOOK, FIAT, FRANCE TELECOM, GAZPROM (RUSSIA), GOLDMAN SACHS, HITACHI, IBM, MANCHESTER UNITED, MICROSOFT (US), NISSAN MOTOR, TEVA PHARMA, TOSHIBA CO
Currency Pairs
AUD/USD, EUR/GBP, EUR/JPY, GBP/USD, USD/BRL, USD/CAD, USD/CHF, USD/EGPUSD/JPY, USD/RUB, USD/SGD, USD/TRY, USD/ZAR
Commodities
COFFEE, GOLD, OIL, PLATINUM, SILVER, SUGAR, WHEAT
Indices
ASX (AUSTRALIA), BOMBAY SE, DUBAI (DUBAI FINANCIAL MARKET GENERAL INDEX), EGX 30 (EGYPT), FTSE 100, HANG SENG (HONG KONG), ISE 30 (ISTANBUL STOCK EXCHANGE), KL FUTURE, KUWAIT (KUWAIT GENERAL INDEX), MICEX 10 (MOSCOW INTERBANK EXCHANGE), MSM 30 (OMAN), NASDAQ FUTURE (USA – NASDAQ 100 FUTURE), NIFTY, NIKKEI 225, QATAR (DSM20), RTS (RUSSIAN TRADING SYTEM), S&P FUTURE (USA S&P 500 FUTURE), SSE180 (SHANGHAI STOCK EXCHANGE), STRAITS TIMES, TADWUL (SAUDI STOCK EXCHANGE), TEL AVIV 25, TOPIX
Trading Types
Digital Options: The usual digital AKA (All or Nothing) options. Simply guess the right direction of the trend and if the contracts expires as you predict you will profit or lose accordingly.
Options Builder: Not used by the average trader, however it allows you to design a tailor-made trading portfolio by choosing your expiry time, and risk/profit ratio as well as the asset and investment sum.
One Touch: This type of trade is can be executed by traders who speculate that the price of an underlying asset will peak above a certain level sometime in the unforeseeable future, but at the same time feel insecure about the sustainability of the predicted higher price. You can purchase this stock during the weekends when markets are closed and because of the high speculative nature of this trading vehicle, the payouts are humungous and can even be as much as 500%. This is very much similar to what Tradologic platforms such as Regal Options refer to as “Range”.
60 Seconds: 60 Second contract expiry times are what most traders are looking for these days. Highly addictive and considered by many to be a pure form of financial betting, 60 second options are considered to be the most popular form of binary options trading. Some Spotoption brokers also offers 5 and 10 minute expiration times, however I have not seen this feature available on Goptions.
Pro Trader: This trading module offers a high resolution trading screen with a “buy me out zone”. This is basically a form of insurance or safety net which is provided to traders who wish to sell their positions before they expire. Needless to say fees apply.
Promotions/Incentives
Goptions offers an unusually high welcome bonus of up to 100%. However, this does not come without a price. Terms and conditions stipulate a trading volume requirement of 40 times the deposit and bonus. This is unusually high, hence I recommend you take a smaller bonus or alternatively ask for more favorable bonus terms.
VIP’s
The VIP club is packed full of benefits such as daily market analysis, on-on-one training sessions, Cash-back bonuses, insurance bonuses, risk-free trades, and Webinars. VIP’s are Micro, Mini, Standard, Gold, and Platinum accounts.
- Minimum Deposit: $/€/£200
- Minimum Withdrawal: $/€/£100
- Withdrawal Fee: $25
- Minimum Trade: $/€/£5 (with 60 Second options)
Banking
Depositing and withdrawing money from Goptions is extremely easy and user-friendly. Accepted payment methods are the usual credit cards: Visa, Mastercard, Diners, Maestro, and Amex (American Express). Also available are Cashu, if you are trading from an Arab-speaking country, Moneybookers, and most importantly Paypal. Which is probably the most popular E-wallet in the world today. Cashing out is easy and is usually done via Bank wires or wallets. I cashed out and had my money in 3 business days, so this definitely excludes Goptions from the scam category.
Customer Support
Goptions customer support is available via live chat and email. Starting August 10, 2013, chat will be available 24/7. Prior to then, it is available from 4am GMT-11pm GMT. Emails will be answered around the clock during the trading week. A UK phone number is also listed on the company’s website for anyone wishing to contact Goptions by phone. The company also has a relatively thorough information section about how to trade binary options, as well as a very impressive FA Q section that deals with everything from how to use the demo account to how to deposit and withdraw funds.
The information presented on the site should give traders the confidence and the information they need to trade confidently with Goptions.
Final Thoughts
Our overall experience with Goptions was positive, from the trading, to the friendly customer support team. A low minimum deposit makes it possible for anyone to trade reasonably with Goptions, and a demo account, available for depositors only, will allow traders to nail down a strategy before investing their money on a trade.
