*** As of 2012 BullOption is no longer a binary options company. If you’re looking to trade binary options with a top binary options broker, please check out our top brokers list.
The Binary Options trading market is heating up lately, and not for no reason. It is a very attractive option for someone looking to make easy money without the hassle of learning a market. BullOption is a new binary trading broker who just opened up shop. Their platform and trading features are always being improved and enhanced, which is important, especially because in my opinion, it is missing quite a lot.
Before we go into details, let's talk a little bit about my first impressions. When first opening up the Bulloption site, the first thing I noticed, as I am sure you will, are the loud colors. Green and yellow on a black background definitely catches your eye. I am no designer, but I think it is pretty clear that they chose colors that yell at you on first glance.
The site, as far as I could tell is only in one language, English. Similar to all binary brokers we have reviewed, Bulloption offers traders a Web-based platform allowing you to log in wherever you are and not only from your own computer.
The trading platform and the overall Bulloption service has its pluses and minuses. Let's start with the good. The site is easy to use and intuitive for the average visitor with clearly defined areas throughout the design.
The site has tabs across the top including My Account, Deposit, F.A.Q, an overview of Binary options, as well as market analysis. There is a nice and informative streaming ticker along the top with the current rates of the various markets. There is also a Trader's Corner that lists all the advantages and promotions offered by Bulloption.
In terms of deposit, there seems to be a lot of different options, if I am judging by the icons along the bottom of the site, but I could not find an organized list of deposit methods anywhere on the site.
When it comes to customer support, Bulloption impressed me with a very responsive chat as well as a phone number to call, and a form to fill out, although I did not see an email address.
When it comes to the trading itself, this is where Bulloption fell short. The interface itself, in terms of its design, is overloaded. There is too much going on. The thing that makes Binary trading so attractive to so many traders is its simplicity. With Bulloption, that simplicity is gone. I want my binary trading platform to ask me whether I think that asset is going up or down and how much I am willing to invest. That is it.
With Bulloption, in order to open a trade, there are at least five steps, out of which three are unnecessary in my opinion. You need to input your investment, press Call or Put, then press Invest. After that, you need to go to a different page to see the status of your order, something that I found to be highly inconvenient and impractical. I know for a fact they are working on fixing this issue, but it made trading with Bulloption very annoying at times.
I have been trading with Bulloption for a week now, and I still cannot figure out how to know the status of my order. For example, if I opened a Put trade because I thought the value of Gold would decrease over the next hour, I want to know where it stands now. From my experience, with Bulloption, you can only know if you “won” or “lost” the trade once it expires. Now, here's the thing, I am sure I am missing something, but if I, an experienced trader am missing it, I am pretty sure many other traders will too. So even if this option is there, it is not clear at all how to use it.
On the flip side, the Bulloption has some nice options with tabs for Forex, Commodities, Indices, and Stocks, and that makes switching between markets very easy and intuitive.
All in all, the platform feels a little half-baked and requires some major improvements, but the good thing is that the developers know it and are working hard to enhance their product.
Bulloption as a company is fairly impressive with social accounts on the various social networks, which indicates to me that they are up on the latest trends, something I would require from a company with which I am entrusting my hard earned money.
One more thing I found a little annoying and disruptive is a constant pop up asking me to chat with their representative while on the site. I guess it could have been worse if it was a promotional popup, but this also annoyed me.
I will say one more thing in Bulloption’s favor. They have some nice bonuses and promotions in place and that might give them the edge they need over their fierce competition.
Bulloption has entered a new market and as one of the few binary options brokers on the Web, they have a lot of work cut out for them, but they are definitely off to a good start.Back to Top
- Headquarter : Belize
- Regulation : None
- U.S. Clients Allowed :
- Maximum Leverage : N/A
Pros and Cons
- Excellent resources for learning about binary options
- 11 language options
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