** As of December 2014 PowerOption is no longer accepting traders. We recommend that you check out one of our top binary options brokers or consider trading Forex with PowerOption's parent company, AvaTrade, which is a highly-regarded and reliable Forex broker. Read the full AvaTrade review here.
PowerOption is a binary options broker powered by AvaTrade. The exclusive PowerOption platform provides features and tools that are easily understood by beginner traders as well as professional investors. The home page of the website is nicely laid out without too many flashing numbers to confound a trader and each page opens to information every trader should read. The website is also aesthetically pleasing and clear, directing traders to easily open a trading account and to place a trade without being distracted by scrolling ticker tapes or other moving reports cluttering up the front page.
Founded in: 2013 Headquarters: The Seychelles Minimum deposit: $250 Bonuses: Up to 100% Maximum Bonus: $10,000 Languages available: English, Arabic, Chinese, Russian, French, Portuguese, Italian, German
There are five options to choose from at PowerOption. The High/Low Options account is the simplest type and it involves selecting an asset, defining a trading period and deciding whether the asset will rise or fall in value from its starting price by the end of the trading period. If the trader believes that the value of the asset will rise, he/she clicks Call and confirms the trade. If he/she thinks the value of the asset will fall (profits can be made just as easily) he/she simply selects Put.
The 60 Second Option gives traders one minute to make their trade. The potential for instant profit is great, but this type of trading may be a bit aggressive for new or inexperienced traders. With the Range Option, the trader decides between two predefined price ranges - one above and one below the asset's current price. If the price lies within the selected range at the end of the trading period you could earn 100% on your investment.
If a trader chooses the One Touch Option, he must reach his/her selected target price within a designated trading period. It doesn't matter whether the price has gone up or down by the end of the trading period. All that matters is whether the price touches the predefined value (whether above or below the current price).
Option on Demand gives traders full control over what they trade. They can create their own option by specifying the asset they would like to trade and how long they would like the option duration to be.
PowerOption offers close to 100 different assets, including quite a long list of Forex pairs. During this PowerOption Review we were quite happy to see that the company offers mobile binary options trading and that in addition to the ability to trade options, the app includes market analysis and real time quotes.
One of the most impressive features that we encountered during this PowerOption review is the demo trading account, which is important for novice traders just wetting their feet in options trading. However, there was no clear indication of how long the demo account could remain open and how many trades were permitted. Although an ‘educational center’ is listed and free access to the firm’s library of educational materials, market analysis and trading news is indicated, it seems that this section is still under development.
Customer care, including live chat is available 24 hours a day during the trading week. We tried calling in the late evening and found the response courteous and informative.
PowerOption takes the technical and support experience that AvaTrade has and brings it to a cutting-edge binary options platform. The binary options provider may be new, but the company certainly isn't, and trading with PowerOption will certainly allow you to be in the hands of trading professionals.
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