Editor’s Verdict
Overview
Review
Headquarters | United Kingdom |
|---|---|
Year Established | 2012 |
Execution Type(s) | Binary Options |
Minimum Deposit | $250 |
Islamic Account | |
Signals | |
US Persons Accepted? | |
Managed Accounts |
Option500 is a binary option broker domiciled in London, U.K. offering traders the opportunity to trade currencies, stocks, commodities, indices and pairs. Option500 has offices in several locations and offers customer service 24/7. It opened its doors in 2012 and has already received several awards for outstanding service.
Accounts
There is one standard account at Option500 and only $250 is needed as an initial deposit. This entitles the trader to enter the trading platform where the selection of different binary options is offered.
Anyone making a deposit of $5K or more can upgrade his account and have full access to the broker’s Pro System. Upgrading opens up a trading platform with additional benefits which include complete access to all the materials in the Option500’s Academy; a live overview on trades made by peers and top traders of their Social Trading community; extensive details about every trading option; and total responsiveness on any device be it desktop, mobile and tablet without any changes in the platform appearance and functionalities.
Payouts can reach up to 85% on successful trades (options that expired in-the-money), and anywhere from 0% to 15% rebates for unsuccessful trades (options that expired out-of-the-money). Of course, when trading on more risky assets, the payout can be much higher.
Expiry times are pre-determined and vary between 60 seconds to a month. Forex operates 24 hours a day from Sunday 5:00pm EST to Friday 4:00pm EST.
Features
Option500 offers a social trading platform and a listing of up-to-date traders is posted on the home page of the website which is available in English, German, Arabic and Italian.
News from around the world, especially from London, directly influences Binary Options trading, so Option500 opened their own newsroom in their London office so it could handle immediate news releases. Financial experts follow the world’s news and update all members with instant information so they can use it to take advantage of trading opportunities.
There is an opportunity for traders to become VIP members at Option500 by sending in a video showing strategies used and telling stories about trading on the Option500 Mobile platform. No additional information about this opportunity was offered.
Education
Option500 offers a host of informative videos on binary options and other trading concepts. There are also guidance tutorials on how to trade with Option500 using the various different binaries.
Forex Education Videos
An updated economic calendar with upcoming financial events taking place around the world is posted on the site and a full alphabetical glossary defines the most popular financial terms.
The blog section is chock-a-block with friendly and informative content for both beginners and advanced traders.
Option500 Blog
Bonuses/Promotions
At the time of this review, Option500 was offering traders a 100% bonus on all funds deposited into their account.
The refer-a-friend promotion offers 5% of the deposit amount made into the account of a friend brought in by the trader. In addition, Option500 will pay another 10% on every deposit made in the trader’s account after 3 friends have opened new accounts with the broker.
Anyone opening an account is entitled to download the online Option500 ebook which offers a complete guide for successful binary option trading.
Customer Support
Customer Support Methods |   |
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Support Hours | 24/7 |
Website Languages |     |
Option500 has 3 trading centers-- in London, Cyprus and Bulgaria. They are more than just telephone operators. They offer expert guidance and provide the right tools for building a proper portfolio including recommended trades, strategies and more.
Traders can access the offices by email, telephone 24/7 and live Chat is available during working hours.
Deposits/Withdrawals
Deposits to registered accounts are accepted via credit/debit cards and bank transfers.
Withdrawals are easy and can be done at any time by logging in to the system and going to Quicklinks. The system automatically recognizes the account details and once the approval has been given, the amount is deposited into the bank account provided by the trader upon registration.
Conclusion
The layout of Option500 is clean, informative and easy to understand. The tools, resources, charts and asset listings are of good quality and high standard and are conveniently located on the site. There is quite a lot of educational material with a wide variety of videos and a Trading Academy for holders of the Pro account.
Features
Option500 is a relatively new binary option trader but has come a long way in a short time. The website is easy to navigate and the charts are up-to-date and clear. What stands out is their choice of videos which are educational and informative and their platform guides which offer step-by-step instruction on how to trade binary options using the Option500 trading platforms. There is only one standard trading account but with as little as $5,000, a trader can be upgraded to a Pro account which offers additional benefits.
Platforms
Strategix
Trading at Option500 is done using Strategix, a trading platform that makes binary option trading as straight forward as it can get. The options offered are Above/Below, Range, Touch and No Touch and traders can visually tailor everything about the trade by clicking on the relevant words.
Option500 Trading Platform
The platform offers social trading whereby traders anywhere in the world can observe the actions of their peers, learn from them and communicate with each other. This platform is a great way for newcomers to quickly learn how to trade and develop their strategies to bring more profits over time.
Option500 Mobile
Option500 offers a high technology mobile trading platform that can be downloaded for free from AppStore of GooglePlay. The app follows trends in real time and trades can be placed any time and from anywhere.
Option500 Mobile Platform
Trading Platform
Automated Trading | |
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Guaranteed Stop Loss | |
Scalping | |
Hedging | |
OCO Orders | |
Interest on Margin |