Editor’s Verdict
Overview
Review
Headquarters | Hong Kong (SAR) |
|---|---|
Year Established | 2011 |
Execution Type(s) | Binary Options |
Minimum Deposit | $250 |
Islamic Account | |
Signals | |
US Persons Accepted? | |
Managed Accounts |
OptionRally, founded in 2011, is a global privately held company headquartered in Hong Kong with offices spread around the world. OptionRally is an innovative consumer trading company offering clients an easy and intuitive way to trade on leading financial markets - Forex, commodities, indices or stocks.
Accounts
There are several accounts to choose from at OptionRally. The Mini account is designed for traders who wish to keep their risk exposure as low as possible. This account can be activated with the smallest possible deposit. A welcome bonus of up to 15% of the deposit is awarded as well as additional bonuses every time a new deposit equal to 10% of their value is made.
The Standard trading account gives full access to all the OptionRally features including market reviews, daily analyst recommendations and a wide array of news and information. A welcome bonus of 25% of the initial deposit is made as is a redeposit bonus of 10%.
The Executive Trading Account offers traders a 25% deposit bonus plus 10% for each additional deposit. Holders of this account are entitled to three trading tips daily and two one-on-one sessions with OptionRally’s financial and trading experts.
OptionRally’s VIP Club Account offers traders all the features of both the Standard and Executive trading accounts plus even more exclusive benefits.
VIP Club account holders are assigned their very own Personal Trading Concierge as well as access to information, ideas, chat rooms, private business clubs, trading tools and a level of assistance exclusive to VIP clients. A 25% deposit bonus is included as well as 10% on any additional deposits.
The amounts of the initial minimum deposits for these accounts seem to be purposely omitted which is rather strange.
In addition to the other accounts, those keeping Sharia laws can open an Islamic or Swap account which allows trading to be done interest-free.
I was disappointed when doing this review that a demo account was not offered for new traders or for traders wishing to practice new techniques and strategies without putting their funds at risk.
Features
Over 20 stocks are available, as well as around 15 currency pairs and a similar number of indices. As with all binary options platforms, not all assets are available at every time, such as stocks which are based in the US that cannot be traded on a binary options platform when the US market is closed.
When doing this review, I especially liked the full explanations provided for each asset category. Each topic received at least a full page of fundamental information and background about the asset. This is extremely helpful for traders just wetting their feet in binary options trading.
Education
In addition to offering a rather substantial education center to help traders better understand the process of binary options trading, OptionRally has a short demo video that really provides a very clear insight into the trading arena.
Trading Course
OptionRally prides itself on its market research citing a suite of tools used to assist traders in formulating their investment strategy and achieving their financial goals.
The website offers daily analysis of major currency pairs and other assets so that traders can get a full sense of the markets before entering their positions. Analysis of currency pairs also includes charts, which can be helpful for technical traders who are looking to test out binary options. In addition, webinars and a host of video tutorials are available for account holders.
In fact, one of the most interesting features at OptionRally is their advanced trading charts which they offer together with Investors Trading Academy. These charts are simple basic ones or more advanced charts and can be used according to the trader’s level of experience and education. Those enrolled in ITA.academy through OptionRally, can personalize and store their charts online.
Trading Charts
Daily and weekly market reviews are posted on the site as well as a comprehensive economic calendar.
Deposits/Withdrawals
Deposits can be made via bank wire transfer, credit card, Net banking, Web Money, Neteller, Inpay, Skrill and other online payment options. The minimum redeposit is $250 or a currency equivalent. This means that after making your initial deposit, you can deposit new amounts into the account that are greater than $250. There is no maximum deposit.
Withdrawals are made via wire transfer and credit card only. There is a minimum withdrawal of $100.
Customer Support
Customer Support Methods |   |
|---|---|
Support Hours | 24/7 |
Website Languages |
Traders can contact an OptionRally representative by telephone at any of their over twenty locations and by email. Chat is available 24/7 as is an online form. We contacted Chat with a question and found that the response was immediate and the representative was knowledgeable and pleasant.
Conclusion
OptionRally may seem like many of the other binary option brokers in the industry, but after a thorough review, it is obvious that there is more to this broker than meets the eye. Their website is set up logically with emphasis placed on the right areas, such as education and training, suggesting that the broker understands the needs of traders and doesn’t waste too much time and effort with unimportant features. I would have liked to see this broker functioning under some sort of regulatory supervision.
Features
A newcomer to the binary options market, OptionRally has managed to distinguish itself from other binary options brokers with the introduction of their iPhone and Android mobile trading apps. These apps are the world’s first official mobile binary options trading platforms made for use on android Smartphone, iPhone and iPad. Another feature that stands out is its choice of five different trading accounts which makes it easy for traders of all levels to select the account that best suits their needs.
Platforms
OptionRally offers several trading platforms.
LiveTrader Web
LiveTrader is a 100% web based trading platform, accessible from all desktops and laptops, browsers and operating systems. It is optimized for all browsers and no download is required. Traders can trade hundreds of different assets with in depth technical analysis charts and the payouts can reach up to 81% per trade.
LiveTrader Platform
LiveTrader iOS
LiveTrader iOS is OptionRally’s iPhone Application. It lets you trade any time anywhere. The platform offers full functionality with live and dynamic charts, easy access to your full trading history, and instant trade execution.
LiveTrader Android and LiveTrader Tablets Applications
The LiveTrader Android and LiveTrader Tablets applications let you trade and control your portfolio from all smartphones devices. The offer full functionality, live access to view all assets, stocks, indices, currencies and commodities, trading in real time, easy access to your options, banking history, personal details and bonuses and 24/7 Help and support.
These applications can be downloaded from the App Store or Google Play.
Trading Platform
Automated Trading | |
|---|---|
Guaranteed Stop Loss | |
Scalping | |
Hedging | |
OCO Orders | |
Interest on Margin |
