- User-Friendly Website
- Choice of Options
- No Demo Account
- Scant Platform Description
Winoptions ReviewWinoptions Review
Winoptions, founded in 2008, is a binary options platform that offers options on several different markets including stocks, stock indices, currencies and commodities.
Winoptions is the recipient of several awards including Most Trusted Binary Option Broker and Best Customer Support broker in 2013.
There is only one standard account type at Winoptions. There are no commission or margin fees and payouts can go as high as 85%.
There is no upper deposit limit. However, the maximum allowed investment in a single option is $2000 and the maximum amount of investment simultaneously opened options in any one asset cannot be more than $4500.
Islamic accounts are available at Winoptions and there are no fees or commissions on opening or closing positions at any time period or at any rate. In addition, traders with these accounts are not charged additional fees associated with binary trading such as spreads or interest in compliance with Sharia Law on finance trading.
The minimum trade is $5.00 with 60 seconds options and with regular binary options .
Winoptions members are provided with a complete set of tools to help them optimize their trading. The tools include live financial news, references to financial sites and a wide variety of options.
One Touch Binary Options are a type of exotic option useful for traders who believe that the price of an underlying asset will exceed a certain level in the future but who are unsure about the sustainability of the higher price.
Winoptions One Touch Options
Option Builder is a feature which allows traders to customize their trades to fit their individual trading styles. It is a relatively new method that is quickly becoming popular on binary options trading platforms. This feature is particularly useful for more experienced traders who understand the market and would like more flexibility in order to create their own trading strategy.
When traders are close to their expiry time and can assume that the direction predicted is correct, they can opt to “do it again” by clicking the Double Up and creating a new trade with the same conditions, for the current price of the asset. When things look good, Double Up allows traders to increase their investment and double their profits.
Rollover is a powerful stop loss tool that allows traders to postpone the expiry of their option. When it looks as though their prediction is not going to be on target by the upcoming expiry date, traders can activate Rollover with the click of a button and have another opportunity to close in the money by postponing the expiry of the option.
Other options include Buy Me Out/Sell Option, 60 Second Options, Long Term Options and Win Trader which is tool that features the underlying instrument's price chart from the moment it started trading. Traders can also see options they own located on the chart.
I found the Binary Options Trading Tips section to be filled with valuable material and the list of assets, which is accompanied by their individual trading hours, expiration rules and general information, is also very beneficial.
At the time of this review, Winoptions was offering both active and new traders a 200% bonus on their initial deposit for a limited time only.
The Refer-a-Friend promotion awards traders for each time they successfully refer a friend to Winoptions. For each deposit of a minimum of $200, both the referrer and his friend will receive a $50 bonus to their account. There is no limit to the number of friends referred.
Winoptions is somewhat limited in their educational material. I didn’t see any videos or webinars offered which is disappointing. There was, however, a single demonstration video which explained how to use the binary options platform. A comprehensive textual section is available which provides informative articles and explanations on several technical analysis tools such as Bollinger Bands, Fibonacci and the Japanese Candlestick Theory.
There is a daily market review and a listing of the expiration rate and expiry date for each individual asset. Live financial news scrolls along on the landing page and the simple three-step registration procedure can be found on each page of the website.
An ebook is available which can be downloaded by account holders for free.
Winoptions offers a wide range of deposit methods which enable the transfer of funds to an account in a number of currencies and with total ease. Deposits can be made using any credit or debit card, Neteller, Perfect Money, CashU, OKPAY or a wire transfer.
Withdrawals are made back to the credit card (up to the amount deposited) or to the same source that funded the account. Profits are withdrawn in the same manner. The minimum withdrawal amount is $50.
Traders can reach a Winoptions representative via email, Chat or by telephone to several numbers in locations all over the globe. Questions can also be sent by filling out an online form. The website is available in English, Arabic, French, Chinese, German and Spanish.
Winoptions is a straight-forward binary options broker and is a good choice for both beginners and experienced binary options traders. The selection of trading tools and the large amount of stocks and indices available makes this a viable alternative to trading directly in more volatile markets.
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