Editor’s Verdict
Overview
Review
Headquarters | Cyprus |
|---|---|
Year Established | 2015 |
Execution Type(s) | Binary Options |
Minimum Deposit | $250 |
Islamic Account | |
Signals | |
US Persons Accepted? | |
Managed Accounts |
OnlyOption is a binary options brokerage firm owned by Safecap Investments Ltd. They opened their doors on February 1st, 2015 and based on what I saw when doing this review, they should stand them in good stead in the binary options market.
OnlyOption is regulated by the Cyprus Securities Exchange Commission (CySEC) and is also registered with financial regulators in the United Kingdom, France, Italy, Spain, Netherlands, Germany, Sweden, Denmark, Hungary, Slovakia and the Czech Republic.
Since OnlyOptions is still in its infancy stage, there are many features that are still not available. But what is currently available is enough to keep binary options traders satisfied and eager.
Accounts
There are three different accounts to choose from at OnlyOption. The Starter account has a minimum deposit of $250, the Pro account requires $1000 and the VIP account starts with $5000.
All three accounts offer risk management tools, use of the e-video library, 1-on-1 training and some degree of an account manager. There are no commissions or fees attached to any of the accounts.
The VIP account allows off trading hour assistance as well as SMS signals.
OnlyOptions offers a wide choice of trading options. The Classic Trader is the easiest option whereby a trader selects an asset from over 180 assets and decides if the price will go up or down, i.e. a call or a put, and the amount of the trade.
Traders profit from the One Touch option if the chosen asset hits the pre-selected target rate. If a trader thinks the asset will go up and hit the preset rate above the current price before expiry, then he/she simply presses TOUCH and TOP. If a trader thinks the asset will go down and hits a preset rate below the current price, before expiry, then just press TOUCH and BOTTOM. Payouts can reach as high as 500%!
With the 60 Second Option, traders can predict the direction of a selected asset at top speed with 1 minute expirations.
The Touch/No Touch option offers a broad range of innovative features including Rollover, Double-Up, Sell Option, History Graph and Trade Confirmation. OnlyOption’s Trader Pro is a unique solution for Binary Options’ technical analysis by providing advanced indicators such as MACD, Fibonacci, Bollinger Bands and RSI to a trader’s professional trading strategy.
Features
Deposits and withdrawals can be made through credit cards, wire transfers, webmoney, Skrill, Neteller and other acceptable payment methods.
OnlyOption offers an extensive choice of 180 tradable assets including stocks, currency pairs, commodities, and popular indices.
As far as educational material goes, OnlyOption offers a host of different videos for beginner, intermediate and advanced binary option traders. These videos are entertaining and instructional. The series on economics includes several informative lessons on topics such as, ‘What is Globalization’ , The Financial System and Savings and Investing.
The session that most intrigued me was the one on Binary Strategies. Topics discussed include strategies with unique titles such as trend signal, zigzag, T-Chaser, Tunnel, Fishing Strip, Fibo Trap and others.
The advanced binary course offers insight into both basic and advanced technical analysis.
OnlyOptions also offers market indicators which are listed on the OnlyOption Economic Calendar. The economic calendar is clearly laid out and contains an hour by hour listing of each of the main market-shaping events of the days and weeks ahead.
There are several ebooks for beginners and advanced traders who have already opened accounts. These include “5 Steps to Expert Binary Option Trading” “Average Down” “Master Gold Trading” and “Ten Leading Trading Tips.”
When doing this OnlyOptions review, I especially enjoyed reading the section on global market hours which provides an extensive explanation of the four major foreign exchange (FX) markets and their opening and closing times. This makes it easy for traders across the globe to place their trades at the most expedient trading moments.
Regulation
OnlyOption is owned and operated by Safecap Investments Ltd, a fully regulated Cypriot Investment Firm (“CIF”). It is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC) and has been authorized to operate throughout the EU.
Bonuses
Although OnlyOption mentions bonuses on its site, when doing this review, I found no information about any promotions or bonuses. Only under the section on bonus terms, did I find the following: “Safecap offers a number of attractive reward features to new and existing clients, including cash bonuses and one time trading credits. These bonuses are limited time offers and the terms and conditions associated with any bonus reward are subject to change.” Since the brokerage is only in its infant stage, I assume the promotions will be forthcoming at some future date.
Customer Support
Customer Support Methods |   |
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Support Hours | 24/5 |
Website Languages |       |
Contact with customer service can be made via telephone to over 20 different locations worldwide and through email and Chat.
The website is available in English, German, Polish, Spanish, Portuguese and French.
Platforms
The OnlyOption platform is only available web format with promises by the company of mobile versions at a later dated. The WebTrader platform offers binary option traders a state-of-the-art charting software with easy access to indicators and the ability to change the time frames and candles on the chart. Since OnlyOptions.com is powered by Markets.com, the platforms are similar.
Conclusion
OnlyOption is off to a great start. It offers binary option traders a wide choice of assets and setting up an account is easy. The website is user friendly but is missing some useful information. In time, this broker will become a leader in the binary option arena.
Trading Platform
Automated Trading | |
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Guaranteed Stop Loss | |
Scalping | |
Hedging | |
OCO Orders | |
Interest on Margin |
