Editor’s Verdict
Overview
Review
Headquarters | United Kingdom |
|---|---|
Year Established | 2012 |
Execution Type(s) | Binary Options |
Minimum Deposit | $25 |
Islamic Account | |
Signals | |
US Persons Accepted? | |
Managed Accounts |
YesOption, established in 2012, was the first online broker to offer both Forex and Binary Options from the same single platform. Using advanced pricing algorithms they are able to offer high returns in Binary Options and competitive spreads in Forex.
Accounts
There’s nothing easier than opening an account at YesOption. You just click on ‘open account’ and fill in the information and voila, you are ready to trade.
The trading page is very straight forward and even a novice trader can decide which currency pair to trade, how much to trade and whether it will go up or down. There is even a simple graph on the page so traders can see the currency’s daily performance.
There are three different accounts to select from at YesOption: Standard, Gold and Platinum. I saw no mention anywhere of a demo account. The standard account holder receives unrestricted access to all the trading facilities; all the assets, instruments, trading tools and unrestricted access to our customer service. He also receives one free withdrawal and one free personal coaching session with a YesOption analyst.
The Gold account offers the unrestricted access to all the trading facilities and tools, but traders also receive an extra 2% return on all winning trades. Gold account holders also receive 1 free withdrawal a month and 2 free personal coaching sessions with a YesOption analyst every month.
The platinum account offers unrestricted access to all the trading facilities and tools, and traders are entitled to an extra 4% return on all winning trades. Platinum account holders receive unlimited free withdrawals and unlimited personal coaching sessions with a YesOption analyst every month.
All three accounts are commission free and all YesOption account holders receive two weeks free high quality signals from a top signal provider.
The minimum amount a trader can invest in an option is $25 and the maximum amount is $2500. The maximum amount for a single short term option (60 seconds, 2 minutes and 5 minutes) is $1000.
I was surprised to see there was no demo account available.
Education
On the landing page of the YesOption site, there is a silent video that visually presents the trading process. I found the lack of sound a bit disconcerting and had to check if it was my laptop that was at fault. Still, I was able to follow the explanation quite well.
When it comes to education, YesOption seems to be on top of things. The Education Academy houses a choice of videos for both the beginner and advanced trader.
YesOption Forex Education Videos
Among the trading tools provided, traders can find several calculators—a Fibonacci calculator, a Binary and Forex Pivot calculator and a Forex Deal Size calculator. Daily analysis and financial news are posted as they become available and economic news, data and reports can be followed with a real time economic calendar.
An interesting tool is the Trader Heat Map which is a visual representation of the strength of a trend in an asset or currency pair. The YesOption Heatmap It is a simple tool which lists a range of the most popular currency pairs, allowing traders to view the strength and the weakness in the market in just one quick glance.
There is also an interactive ebook with a comprehensive introduction to binary options trading, forex trading and the YesOption platform.
Deposits/Withdrawals
Deposits can be made via credit or debit cards, wire transfer from a bank account, Skrill, Neteller, CashU and several other payment programs.
The maximum deposits are as follows: Daily Limit: $8,500; Weekly Limit: $59,500: Monthly Limit: $255,000.
Withdrawals can be made by filling out an online form. Funds are redirected back to their original source.
Bonuses/Promotions
At the time of this review, YesOption was offering a deposit bonus. However, no specifics were given and traders were asked to contact their account manager for details. In fact, other promotions were mentioned on the site such as the opportunity to win a free iPhone, but details were only available after registering and logging in.
As mentioned above, 2 weeks of free signals are given as soon as a deposit is made, with all signals being sent by SMS/email and viewable on the YesOption website when logged in. Approximately 6 signals are sent per day, covering all time zones, primarily for 30 minute and 1 hour High/Low options for the 25 most liquid assets.
Every account holder receives at least one free personal coaching session with a finance professional and depending on the account type, some receive unlimited coaching sessions with the YesOption analyst.
And through their Refer-a-Friend promotion, for every friend referred who deposits at YesOption traders will be rewarded with a $150 bonus. In addition, once the friend makes a deposit they will receive a $50 bonus reward too. There is no limit to the amount of friends that can be invited and no limit on the amount of money one can make.
Customer Support
Customer Support Methods |   |
|---|---|
Support Hours | 24/5 |
Website Languages |     |
Traders can contact a YesOption representative at any time via live chat, email or telephone to the UK. They have provided a number of local telephone numbers from around the world to ensure that all questions are dealt with in a language that is understandable and in a time zone that is relevant to the caller.
The website is only available in English, Russian, German and Arabic.
Conclusion
The home page and indeed the whole YesOption site are vibrant, without being too ‘busy’. It is clear to navigate and there are no issues locating information, whilst the bold colors lend themselves to the quick, fast paced nature of binary options and Forex trading at YesOption.
Features
One of the best features at YesOption is their great education and trading resources. They have some really excellent trading videos which can help you learn the basics of trading, which is advisable before you start investing money. They also give each and every trader a trading manual to kick start them and some trading signals to guide newbies on what and when to trade. The website is user-friendly and easy to navigate and much of the important information can be accessed directly from the landing page.
Platforms
Proprietary Platform
The only trading platform offered at YesOption is their proprietary platform. The platform is intuitive and user friendly, with many features. No download is necessary and the platform can be accessed by clicking the ‘Trade’ tab at the top of the page.
YesOption Trading Platform
Traders can choose to trade high/low, one touch, boundary or short term options. The standard payouts for high/low options are 85% which is pretty well-placed in the market. Of course if you trade one-touch you’re looking at a much higher level of reward but then again your risk levels are higher too.
YesOption offers short-term expiries too, including 60 seconds, 2 minutes and 5 minutes. An excellent option for fundamental traders or traders that want to enter and exit trades quickly for purposes of hedging or pure enjoyment. You’re looking at 70% return on investment for the short term option.
With YesOption’s mobile app, traders can trade from anywhere at any time. The mobile app is fully functional and has all the features of the desktop version so you can trade the financial markets from the palm of your hand.
No download is required, and the browser can be accessed on your iPhone, android or tablet device. Traders can check their YesOption account, open a new account, view charts, news, check the markets, make deposits, open new trades, and access all the financial tools with the YesOption mobile site.
Trading Platform
Automated Trading | |
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Guaranteed Stop Loss | |
Scalping | |
Hedging | |
OCO Orders | |
Interest on Margin |
