UK Options Review
UK Options, founded in 2013, is a leading Binary Options broker offering an advanced and secure trading platform. It is operated by Worldwide Tech Ltd, a subsidiary of Smartech Ltd and is located in London, UK. UK Options offers a generous choice of stocks, commodities including gold and silver, currencies and indices to trade.
UK Options Account Types
UK Options offers four different trading accounts. A hefty $1,000 deposit is required when opening the Beginner account but a bonus of 50% is provided. The Experienced account requires $5,000 minimum deposit and the trader receives up to $3000 as a bonus. Anyone depositing $10,000 can open a Professional account and have up to $7,000 transferred back into his account and a trader opening a VIP account with $50,000 is entitled to a bonus of up to $30,000 in bonus money. A minimum trade of $25 is accepted.
All the accounts are managed accounts and each account is entitled to a certain amount of secure trades and signals and all of them receive lessons by email and the UK Options ebook.
UK Options also offers an Islamic account also referred to as an interest-free, or swap-free, account. It operates a “No Riba” policy and allows Islamic customers to keep Binary Options positions open indefinitely without being subject to any additional charges or fees. It also recognizes Hibah laws and makes it easy for Islamic customers to donate a percentage of their profits to charitable organizations.
There was no mention of a demo account which is disappointing. Most binary options brokers offer a demo account as an opportunity for beginner traders to practice their trading for a time without putting their own money at risk. I was surprised when doing this review to find that UK Options did not offer this account.
Education is important to the UK Options team and there is a full line of educational material at the UK Options Academy.
There are several video lessons geared towards both beginners and advanced traders. Besides the basic courses other beginner courses include titles such as Trading as an Artform and Are you an emotional trader?
The advanced courses are more diverse and traders can learn different trading techniques and tips such as Shooting Star, Harami Patterns, Breakawy, 3 White Soldiers and Engulfing +Downsize Gap Three.
In addition, there is a series of videos on Platform Introduction and here is where traders can polish their knowledge on interpreting reports on trade performance as well as reading graphs and display options.
UK Options also offers a wide variety of regular webinar sessions, given by one of their top market analysts. The webinars cover a broad range of topics and cater to both new and advanced traders. All UK Options clients can tune into these webinars absolutely free of charge.
The market reviews were informative but when doing this UK Options review, I found that the last report was dated 7/1/15. The economic calendar, however, was up-to-date and clearly presented.
There is also a full alphabetical glossary of financial terms and concepts.
The website is available in English, Arabic, German, Spanish and Russian.
An interesting feature at UK Options is their feedback page. Not many brokers ask for trader feedback and the fact that it is offered is an indication of the brokers concern for keeping their clients satisfied.
Deposits and Withdrawals
Deposits at UK Options can be made through an array of secure and reputable payment methods, such as credit cards, Neteller, Skrill, Cash-U and wire transfers, in a variety of different currencies. When making a withdrawal, funds are transferred to the trader’s account in the currency of their choice and via the method most convenient to him.
The minimum deposit is $250.
The minimum withdrawal amount is $100. The maximum deposit amount depends on the deposit method used. When using a credit card, maximum is $5,000 per day (maximum 5 individual deposits per day) and $15,000 per month. If the money is wired, deposits are unlimited.
Professional broker assistance at UK Options is available 24 hours a day, 7 days a week. UK Options offers traders the standard set of online contact options. An email address is displayed along with a web form and a live chat system is also available.
Dedicated phone options are available for clients from Australia, Canada, Germany, New Zealand, South Africa and UK. There is also a request for callback option which is a nice touch.
We contacted Support via email and received a response which was very informative within 60 minutes. This quick response makes up for the FAQ section which doesn’t provide the amount of info we were hoping it would and if fact could have been more detailed.
Overall we found UK Options to be right on target with their upscale platform and their many contract options. The wide selection of phone contact numbers for support and assistance is welcoming and shows that their efforts to accommodate clients from all over the world are genuine.
- 24/7 Customer Support
- High Welcome Bonus
- Choice of Several Accounts
- No Demo Account
- Basic Educational Material
Review info: UK Options
Review Date: 2016-02-01
Rating : 3.5
Reviewed By : Sara Patterson