- $10,000 demo account
- Low minimum trade requirement
- Ample tradable indices
- Insufficient educational material
- High withdrawal fees
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Optionow is ranked #40 of 74 Binary Options Brokers.
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Based on a model of bringing honesty and integrity to the world of capital markets, OptioNow is a binary options platform dedicated to providing a positive experience for all of its clients. We’ve tested the platform and services of OptioNow and recorded our findings in the OptioNow review below so that you can determine whether this is the right binary options broker for you.
OptioNow Trading Platform
The OptioNow trading platform closely resembles most other binary options trading platforms, and a preview is available directly on the company’s homepage. We were pleased to see that OptioNow does provide $10,000 demo accounts for their binary options trading platform, something which is largely lacking amongst its competitors.
The trading platform can be arranged according to the asset being traded (currencies, commodities, stocks or indices), and it clearly notes the potential return and the expiry time so that there is no confusion. Standard plus and minus buttons are used to make the trade.
Traders can also choose between High/Low trading, One Touch trading and Boundary trading within the OptioNow platform. Traders who have seen other binary options platforms previously should have no trouble executing their trades with OptioNow, while those who are entirely new to the industry may want to read the company’s short trading tutorial before placing a live trade.
One of the things we noticed and appreciated the most about OptioNow is their helpful FAQ section which answers questions from how to deposit and withdraw to how to trade, to how to deal with technical problems. Most of the information we were seeking was directly available which was quite refreshing. What was lacking, however, were the video tutorials and advanced trading guides offered by many of the top binary options trading services. Nevertheless, these things won’t hamper the trading experience for experienced binary options traders.
OptioNow customer support is available via phone to a Turkish phone number only, via email and via live chat. The company claims that their support is available 24/5.
A wide list of tradable assets makes OptioNow a good choice for traders who like diversity. Among the available assets are 14 currency pairs including mostly standard pairs as well as EUR/TRY and USD/TRY. Five indices are available (DAX, CAC, IBEX, FTSE, Nasdaq), and 6 stocks may be traded (Apple, Google, Coca-Cola, JPM, CITI and MSFT). As for commodities, only Gold, Silver and WTI are available.
Ease of Use
As mentioned previously in this OptioNow review, the company’s trading platform is relatively straightforward and easy to use. We did have some trouble finding the minimum and maximum amounts per trade, and we experienced some redirects when trying to open an account. On the other hand, we did appreciate that withdrawals must be done via the same channel that was used for deposit, which is a welcome security feature (in the event that this is not possible, money can be withdrawn only to a bank account with the trader’s name on it which is also comforting). Overall, we were satisfied with the ease at which we could maneuver the OptioNow platform, though we hope to see more informative directions to help newcomers in the future.
In the fast-paced world of binary options trading, OptioNow offers a reliable binary options platform, ample tradable assets and more than sufficient trading styles to meet the needs of all different types of traders. Due to a lack of background information which we discovered during our OptioNow review, we’d recommend this platform more for experienced traders than beginners who may need a bit more information.