** In a routine Optionyard review in February 2016 we discovered that the brand has been closed and that the website has been taken over by 24option. To learn more about the offerings of 24option, please read our full 24option review.
Optionyard, founded in 2013, is a binary options broker that deals with Forex, commodities, indices and stocks with up to an 85% return. Located in Victoria, Seychelles and with offices around the world, Optionyard is owned by Formont Investments LTD.
There are four trading accounts to choose from at Optionyard. The Standard account can be opened with no money down. All deposits receive a hefty 50% welcome bonus. The Premium requires a minimum deposit of at least $100 and a 100% welcome bonus is awarded. At least $2,500 is needed to start the VIP account and deposits are awarded with a 150% welcome bonus.
All accounts receive a binary trading ebook and access to weekly market reviews. The Premium and VIP accounts are entitled to 1-on-1 trading consultations and come with a personal account manager. In addition, holders of the VIP account receive platform trading alerts and contact with an exclusive support team.
Anyone with $5,000 can open the special Elite account and customize his/her own trading terms and conditions. This account can be set up by calling the Elite Account Manager’s number.
There are no commissions or hidden fees.
I was disappointed to find when doing this review that Optionyard does not offer a demo account.
Optionyard offers a list of trading tools. The Stop Loss is a tool that limits losses by closing an open position before the option expires. The percentage of equity saved depends of course on the status, size and time left before the asset expires.
The Take Profit tool allows a trader to close a profitable position before the option expires in order to secure a percentage of its total value.
A position’s expiration time can be delayed if the trader thinks an order currently losing will change direction after its scheduled time of expiry by using the Rollover.
The Auto Trading and Double Up tools can also be used. With Auto Trading, traders can open a position and automatically replicate it for the next time of expiration with the click of a button.
Double Up gives traders the opportunity to take one of your profitable positions, duplicate it and double their profits.
There is also a tool to insure part of an open trade so as to protect it against future losses.
An interesting market tool is Optionyard’s Trader Insight where traders can see the percentage of people opening ‘call’ or ‘put’ orders for any given asset. This helps determine price trends in the marketplace.
With Optionyard, traders have the choice to deal in five different classes of binary vehicles.
Digital/Binary Options is the most popular class of options to trade with. Range Options allow traders to predict the range where the asset price will fall within.
Touch Options are based on predefined price levels of an asset and with One Touch Options traders can profit when assets reach a predefined price target.
With 60 Seconds Options, trading is done on assets that expire in 60 seconds.
Traders can stay informed with Optionyard’s economic calendar, daily market analysis and binary trading blog and the Optionyard eBook provides the skills, tools and insider tips needed to become a successful binary options trader. The ebook is written by an experienced staff of trading professionals and is designed to help all investors, whether experienced or just starting out in the field.
There is also a rather short FAQ page and a full financial glossary.
Besides the welcome bonus which starts at 50% for a Standard account and goes up as high as 150% for a VIP account, Optionyard offers its traders several other promotions.
A second deposit is credited to an account with an additional 75% in trading funds – up to $500.
At the time of this review, there was an added bonus of up to $2500 for opening an account.
To help traders become familiar with their trading platform, Optionyard minimizes their risk with a limited offer: 20% back on any combined losses from the first 5 trades.
Through the Refer-a-Friend promotion, for every friend that starts trading with them the client receives a $50 trading bonus. And the friend receives an extra $25 bonus when they sign up.
Optionyard accepts the most popular payment methods in each country, including major credit cards, wire and bank transfers, Webmoney, Giropay, Sofrot, Neosurf, Ticketsurf, cashU, iDeal, Poli, UseMyBank, Banklink, Yandex and more. The minimum deposit is $200.
Withdrawals are made using the same methods as the deposit. The minimum withdrawal request is $200 ($100 for withdrawal requests by bank transfer).
Optionyard is open for trading 24 hours a day, 7 days a week. Optionyard traders also enjoy personalized and professional service in their native language from dedicated account managers, who are available by phone, email or live chat.
A support team is available by phone or live chat Monday to Friday from 10:00 to 23:00. The Optionyard website is supported in close to 20 different languages.
Optionyard is a recent player in the binary option market but the broker’s trading platform manages to include some unique trading tools that are worth further exploration. The list of bonuses is impressive and the choice of different trading accounts makes it easy for traders on all levels to feel comfortable setting up an account.
- Choice of Account Types
- Demo Account
- Generous Bonuses
- Not Regulated
- Somewhat Limited Asset Choice
Review info: Optionyard
Review Date: 2016-02-28
Rating : 3.5
Reviewed By : Sara Patterson