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GainOption, founded in 2011, is a binary option broker domiciled in London, UK. Its platform offers traders assets for trading in indices, equities, commodities and currency pairs on major financial markets.
GainOption boasts of being the first and only company to offer a transaction opening time ranging from 15 seconds to 320 days but we could not substantiate this claim. The company services both the Russian and foreign markets.
There are five different account types to choose from at GainOption. The Bronze account can be opened with a deposit of as little as $200. The maximum position is $75 and there is a welcome bonus of 20%. $1000 is sufficient to open a Silver account which comes with a bonus of 30% and the maximum position is also $75. This holds true for the Gold account which can be opened with $5000 and receives a bonus of 40%.
GainOption Account Types
$10,000 will open the Platinum account which offers a bonus of 50% and $20,000 is needed for the Diamond account where a bonus of 60% is available.
Holders of the Bronze and Silver accounts are promised weekly market reviews and daily reviews are supposedly sent to holders of the other three accounts. Signals are sent to all but the Bronze account traders and reach 5 signals in the Diamond account.
The broker promises payouts up to 85% but very few traders came anywhere near as high as that.
The choice of binary options is vast and includes pairs, turbo trade, long term, one touch, ladder and Forex.
The maximum investment amount varies with respect to Binary Option type. At Binary, Long term and Pairs, the maximum investment amount is $1,500, for 60 Seconds and Ladder, the investment amount can reach $250 and at One Touch Options you can invest up to $500 per position.
GainOption provides an asset index and a full listing of asset expiry dates as well as an up-to-date economic calendar. The ‘advanced charts’ page is available for analysis only and is not available most of the time.
GainOption Advanced Charts
GainOption is big on educating its clients and its Gain Academy offers a wide choice of material. There are textual explanations on a number of basic and advanced topics and they post several trading strategies every few days.
GainOption Educational Courses
GainOption Trading Strategies
The site mentions live webinars and at the time of this review a free webinar was being offered on how to earn the first $1000 and a number of gifts were being offered. No other information about their webinars is offered. During the course of our GainOption review we found that GainOption company representatives consistently made false claims and didn't support their promises – a huge red flag for anyone seriously considering depositing money with this broker.
Besides the generous welcome bonuses offered at the time of deposit, GainOption offers traders a chance to make additional money by bringing in another account holder through their Refer-a-friend program. For every referral made and account opened, the trader receives a $50 bonus. The new person also receives a $50 bonus.
The minimum deposit amount on GainOption is $200 or its equivalent in another currency. Funding can be done using credit and debit cards--Visa, Delta, MasterCard, Diners, Visa Electron, Maestro, Maestro UK (Switch) and Solo—with the following limitations: $5,000 maximum transaction a month, $10,000 total per card per card.
There is no limit on the amount of deposit sent as a wire transfer and $10,000 is required for Western Union.
There are no minimum withdrawal amounts and the funds are transferred in the currency of choice and in the most convenient method chosen.
The main headquarters for GainOption is in London, UK but there are offices in various other parts of the world, including Australia, Brazil, Canada, Russia and Spain. Traders can contact a GainOption representative by telephone during working hours and can use email anytime of the day. Chat is also available as is online correspondence. There are no languages listed for the site, platform or customer support.
The website provided by GainOption is well designed with images and graphics that are eye catching and clear. Much of the information can be found by scrolling down on the landing page and there are few tabs to click. Still, there is a feeling that this is a relatively new broker and there are some features that are missing. Further, our personal correspondence with the GainOption team made us feel markedly uncomfortable with the operation as representatives made promises that were not actualized. For this reason alone, we recommend that you look for a more reliable binary options broker.
Review info: GainOption
Review Date: 2016-01-07
Rating : 2
Reviewed By : Sara Patterson (Google+)