OptionTime, founded in 2013, is one of the few binary options brokers to be fully licensed and regulated by CySec, MiFid and the FCA. The Cyprus based broker has only recently opened its doors to traders but we can be certain that it will hold its own in the binary options world.
Unlike most other brokers, some of the tabs on the OptionTime website appear at the bottom of the landing page. Once I realized this, I was able to find all the information I was looking for and navigating the pages was quick and responsive.
There are three different accounts to choose from at OptionTime.
The Premium account requires a $100 minimum deposit and traders receive a welcome bonus of 30% on each deposit. A minimum deposit of $1000 is required in the Royal account where a 50% bonus is awarded. Anyone with $5000 can open an Exclusive account and receive a bonus of 100% up to $2500.
There are no commissions on any of these accounts. An account manager is provided for each one and all traders receive a certain amount of 1-on-1 training.
I was disappointed to see that a demo account is not offered at OptionTime. This is an important tool for all new traders as it allows them to practice their trades without risk of losing their money.
OptionTime offers 180 tradable assets to choose from and traders are encouraged to develop their own binary option strategy.
With the Roll Over feature, traders can delay their expiry time in order to give themselves a better shot at success. For a 30% increase in your investment traders can postpone the trade expiry and their chances of coming out on top zoom up.
Traders that feel confident in the choice they made and think the market will continue to go their way can use the double up feature in the middle of their trade. This allows them to follow the trend and maximize their earning potential by doubling up on their investment.
A way for traders to minimize their risk can activate the buyout option during mid-trade. Buyout is available at any point prior to the position's expiration.
The Education Center at OptionTime provides in-depth resources that are very helpful for beginners, including introductory webinars, video tutorials, e-books, and one-on-one training designed to make binary options accessible to traders at every level. Their video library starts with the basics of binary option trading and moves over to more advanced topics such as technical analysis, strategies and more.
Both daily and weekly market reports are posted on the site and an up-to-date economic calendar is a handy way to keep track of major economic global events and see how they affect the markets.
An up-to-date expiry rate chart is also available and the FAQ page is divided into different topics so traders can find the answers to their questions in an organized simple manner.
I found some that the site lacked some in-depth market analysis.
OptionTime Online Education Center
The only bonus available when doing this OptionTime review was the refer-a friend promotion. Bonuses ranging from $50 to $350 and up, depending on the amounts deposited are awarded to traders for referred account openers. Upon reading the small print, I discovered that withdrawals of any profits that were generated after the date the bonus is received cannot be made until the minimum trading volume equivalent to 10 times the bonus value has been generated.
Funding to accounts at OptionTime can be made via credit cards, wire transfers and a variety of online payment systems such as Neteller, WebMoney and Skrill.
Withdrawals are made using the same methods. As one of the requirements of their compliance regulations, all withdrawals are guaranteed to be processed within 48 hours.
There are no charges for deposits or withdrawals.
OptionTime provides professional client assistance in numerous languages and delivers individual assistance for each trader. Customer support is available through live Chat, email and a long list of telephone numbers in countries all over the world.
OptionTime.com offers some good features, a user-friendly platform and an easily navigated website. There is a wide choice of options and various trading tools. I definitely missed seeing a demo account offered and there are really no great bonuses to speak of. Refer-a-Friend was the only promotion offered and I was surprised to read the conditions for withdrawing this bonus money.
- Choice of 180 Assets
- Fully Regulated
- No Demo Account
- Only One Bonus
- No Information on Mobile Trading
Review info: OptionTime
Review Date: 2015-11-25
Rating : 4.5
Reviewed By : Sara Patterson