One of the most prestigious binary options brokers is GrandOption. They offer a huge trading platform that allows for many beneficial trades to be made. Their parent company is owned by the same people who have developed 24Option, so a certain degree is to be expected from the onset. Their aim is to be more accessible for people who are new to binary options trading, with low minimum deposits and ample training and educational possibilities. Grand Option is fully regulated by CySEC, offering full security to their customers.
As a rule, trading platforms deem to be easy to use and clear to even the uninitiated. GrandOption’s trading platform follows this rule to the letter, but there are a few difference that make it stand out. The most distinguishable feature of GrandOption’s trading platform, is that it has a lot of news. This is another indication of how GrandOption focusses on new traders, providing them with all kinds of information in order to make their trading experience more profitable. Besides being filled with the latest news about the binary market, the trading platform used by GrandOption has a wide interface with a trading chart that is open for customization. Each and everyone’s way of trading on the platform can be personalized, to a certain degree. Multiple trades can be tracked simultaneously, while reading an interesting news item, for example.
Furthermore, the trading platform of GrandOption is available in 5 different languages in order to appeal to a larger crowd: English, Italian, French, Turkish and Russian. Their main target is the European market. And GrandOption also keeps up with the modern times, as their platform is equally available on all types of devices. No download or installation is needed, so trading can be done from anywhere in the whole world, as long as there is an internet connection.
Start Trading with GrandOption
As mentioned earlier, GrandOption aims to be an accessible broker for new traders. One of the things they do to attract people who want to start trading but are daunted by the high prices, is by giving everybody the ability to open an account for the lowest minimum deposit: 100 EUR / USD. Because of this affordable price, many traders have already opened an account for GrandOption’s trading platform. As an added bonus, GrandOption generously gives out a welcomes bonus to every newly opened account.
Another thing that makes Grand Option accessible for new traders, is the many payment methods they allow. Credit Cards, Skrill Moneybookers, Neteller, Cash U, Qiwi, Webmoney and Moneta can all be used for both deposits and withdrawals. This is ensures that everyone can use their payment method of choice.
Here is where GrandOption starts to lose points. The payout rates they offer aren’t among the best, not even average. At their lowest, the payout rates of GrandOption are at 75%. Though it must be said that through different trading methods, those which yield higher risk, payout rates can reach a maximum of 300%. There is given no return on trades that are lost. It is clear that this is not GrandOption strongest point. There are brokers with way better payout rates available. But that is not to say GrandOption is not a very good broker. Beginners and traders with low capital will still gather a lot of benefits from trading with GrandOption. The difference in payout rates becomes only noticeable when a lot of money is traded at once.
As far as the available assets of GrandOption go, they are not exceedingly high but rather reasonable. With 80 different assets at everyone’s disposal there are still more than enough trades that can be made, with stocks, commodities, indices or currencies. And as GrandOption’s main focus is new traders, 80 assets are more than enough for anyone who does not have a full grasp of the market.
It should not come as a surprise that a broker with a professional background such as GrandOption has a dedicated customer support service, which can be easily reached by Live Chat, Phone or Email. They speak 5 different languages, the same ones in which their trading platform is available: English, Italian, French, Turkish and Russian. They can be reached 24 / 7.
Without a doubt, GrandOption is an excellent broker, but mainly so for new traders. Professional traders will have less benefits from all the features. In general Grand Option has one of the sturdiest and most reliable trading platforms on the market, which is also fully regulated by CySEC. Low minimum deposits make GrandOption very accessible for everyone, even those who have low capital available for trade. Because of this, Grand Option is an exceptional broker that offers something not many others do. For new traders there is hardly a better broker to open an account with, as they will ensure that everyone will become a professional broker through the vast amount of training and educational material they have made available.
The low payout rates make GrandOption not very attractive for experienced traders with high capital to invest in binary options. There are multiple other brokers operating on the market today who offer a trading platform just as reliable and user friendly, but with way higher payout rates. These brokers do, however, also require a higher minimum deposit. Grand Option distinguishes itself by being a very affordable broker.
GrandOption Review Final Verdict
In the end, GrandOption is really a broker mainly for new traders. But what they offer for these new traders, is the best experience available for the most affordable minimum deposit. There are ample educational possibilities and a fleshed out news section all traders can use to their advantage. A nice welcomes bonus makes it even more attractive for new traders to open an account with GrandOption. They will make sure that everyone will be on their way to become a professional broker.