Warning: Investing with this broker may put your money at risk, as the brokerage has a reputation for engaging in questionable business practices.
TorOption is a binary option provider located in London, U.K. It opened its doors within the last year, offering a range of financial services from a group of individuals with years of experience in risk management including Forex, binary options trading, derivatives, and exotic options pricing.
The Mini account is the smallest account offered by TorOption. A $350 deposit is required and traders receive 24/5 customer support and the broker’s eBook.
With $5000, a trader can open a Standard account and receive a welcome bonus of up to 50% of the deposit, an introduction call from Personal Account Manager, trial sessions with a top analyst and complete access to an account manager.
The Executive account can be opened by depositing at least $35,000. This account comes with welcome bonus of up to 75%, unlimited Calls from a Personal Account Manager, 1-on-1 trading sessions, real time trading signals and a limited session with a top analyst.
Anyone with $50,000 and more can open the VIP account and receive, in addition to all the benefits listed above, a custom configured welcome bonus and weekly sessions with a top analyst. At the time of this review, the Deposit bonus could be as high as 150%.
The maximum payout on any trade is 85%. The minimum trade amount is 25 USD, GBP or EUR in all cases except 60 Seconds trades. On 60 Seconds trades, the minimum trade amount is 5 USD, GBR or EUR.
TorOption does not offer demo accounts however they recommend contacting their team of knowledgeable account managers who can help set up an account and teach the basics of trading.
There is no mention of an Islamic account.
TorOption posts a full asset index with listings for currencies, stocks, commodities and indices as well as a separate table for the trading hours for each asset.
An economic calendar, provided by Investing.com, is an up-to-date table of financial events taking place throughout the world.
The FAQ section and the alphabetical glossary are informative and easily understood.
TorOption binary options broker strong on security. It employs the internationally adopted security system called SSL (Secure Socket Layer) which encrypts all credit card payments performed over the Internet, protecting all info concerning transactions.
TorOption has several educational tools that are useful for binary option traders with all levels of trading experience. There are several basic textual lessons and a monthly webinar is available where TorOption professionals throw some light on various market events that impact binary trading.
The online Trading Guide section offers high value for those binary traders who are just beginning on their trading path. Market analysis explores the nature of binary trading market by using the latest market data.
In addition, every account holder is assigned a personal account manager whose responsibility it is to teach the client how to understand and properly analyze financial markets.
TorOption “Get 3 Secured Trades” promotion gives the trader an opportunity to use and analyze his skills without risking his investment and to form his own investment strategies without having to risk his money. The “Get 3 Secured Trades” promotion provides such an opportunity because if the first 3 trades result in a loss, the trader will receive a complete refund.
Other promotions are offered from time to time.
Deposits are accepted via credit/debit cards, Skrill, Neteller, WebMoney, CashU and wire transfers.
Withdrawal requests are submitting by sending an email to email@example.com. The minimum withdrawal amount is $50 units, unless less than this amount remains in the account. All credit card withdrawals are free. However there is a minimum withdrawal amount of $100 for all withdrawals and all wire withdrawals are charged $25.
Office hours at TorOption are Sunday through Friday, 9-6 UK time. Representatives can be contacted via email, phone or by clicking on their Live Chat option which is displayed on the platform.
All of the customer support staff, account managers and market analysts are well versed in the financial markets and are there to help traders become successful in their financial portfolios regardless of the size of the account.
Trading can be done 24 hours a day, 7 days a week. However, some of the options and assets are not available all the time. For example, 60 Seconds trades are available Monday through Friday, 24/5. For a list of trading hours for all of our assets please visit our Asset Index.
The website, which was developed by One Tech Media LTD, is available in four different foreign languages.
TorOption is the choice of traders who know a good broker when they see one. Trading binaries at TorOption is pleasant, navigation is easy and the broker delivers all the opportunities needed to grow as an investor.
- Choice of Different Account Types
- Website Available in 4 Languages
- No Demo Account
- No Mobile App Mentioned
Review info: TorOption
Review Date: 2016-12-22
Rating : 4.5
Reviewed By : Sara Patterson