The broker OnlyOption is the youngest platform for trading binary options on the market. They launched in February 2015 and are already gathering more and more traders thanks to the high level of quality service they offer. Reliability of the broker is primarily due to CySEC regulation. OnlyOption is by some traders already seen as a serious contender for the Broker of the Year Award of 2015. Let’s see why they are praised as much as they are, in this OnlyOption review.
Being the newest binary broker on the market, it should be expected that OnlyOption delivers a polished and modern trading platform. The supplier of the platform is Safecap Group, also known as Markets.com. OnlyOption’s trading platform is sharply refined and equipped with numerous crafty tools that can make the difference between a lost or won trade. The information provided by OnlyOption on their platform is of great analytical value.
Other than providing informative and supportive tools, there are of course also trading methods integrated on the platform. These include such tools as Rollover, Double Up and more. Experienced traders should already be more than familiar with these trading tools, as they are practically the norm nowadays.
And lastly, in order to appeal to traders worldwide, OnlyOption’s platform is available in the following languages: English, German, Arabic, Polish, Spanish, Czech, French, Portuguese and Italian. This is a good trait, as it enables everybody to understand the trading platform to its fullest effect.
How to start trading with OnlyOption
Joining the OnlyOption platform to trade binary options is very simple. After linking personal details to an account and making an initial minimum deposit of 250 EUR / USD, trading can begin immediately. What’s more, OnlyOption gives out a 100% welcomes bonus to every new account, allowing for easier and more forgiving exploration of the possibilities on the trade platform.
Traders who want to feel special can open a Pro Account on OnlyOption’s platform. The initial minimum deposit required for this 1000 EUR / USD. The welcome bonus is here doubled to 200%, which amounts to a pretty hefty sum and is quite enticing. Traders who are interested in testing OnlyOption’s platform would be wise to just open up a Pro Account.
Payouts are what can make or break a good broker. Luckily for OnlyOption, their payouts are around 85%. This is a little above average, making them still quite a lucrative broker, even more so when all else is taken in consideration – such as the welcome bonus.
But, not everything is perfect for OnlyOption. The payment methods they accept are limited to say the least. At present the only methods for making both deposits and withdrawals, are Credit Card and Wire Transfer. Customers will have almost no flexibility to pay and get paid the way they want.
Perhaps as a way to compensate for the limited amount of accepted payment methods, OnlyOption has a vast portfolio of assets available on their platform. Traders can choose from among over 180 different assets, divided under the default sectors Equity, Forex, Commodities and Indices. Nearly every asset that is worthwhile is up for trade. OnlyOption has definitely gone all out in the assets department in order to please their customers, with good results. Giving so many assets to choose from weighs heftily in OnlyOption’s favor.
New brokers who are growing at a steady pace often seem to be unable in keeping up with the support that is required. So far OnlyOption’s customer service has remained of a high quality. They can be reached 24 /7 by Email and Live Chat, and 24 / 5 by Phone. There are 18 localized numbers that can be called, so customers all over the world can be given professional support in their own language.
OnlyOption has a lot going for them. Their platform is powerful, refined and tuned to the desires of the modern trader. From the get-go they showcase a reliable character, in part thanks to the regulation of CySEC. Security should always be most important when deciding what broker is best, and OnlyOption can certainly deliver safety and protection to their users. Furthermore, their customer support is reliable and dedicated. Generous bonuses are handed out to new accounts and the payout rates are quite lucrative. Combined with an enormous portfolio of assets, and OnlyOption is without a doubt a new player in a competitive market who might just become one of the leading brokers of their time.
They are few flaws that should be addressed by OnlyOption if they indeed want to become one of the leading binary option brokers. For one, they do not accept a whole lot of payment methods. For a platform that is built around trading money, it should be possible to make deposits and withdrawals with something such as Skrill MoneyBookers or Neteller. Regrettably only Credit Cards and Wire Transfers are accepted by OnlyOption, which really holds them back. Besides that, OnlyOption also does not offer the possibility for the creation of a Demo Account, and if an investment is lost there is given no small refund, as some of the other brokers do.
OnlyOption Review Final Verdict
Not much else can be said about OnlyOption. In general they are obviously a broker with great potential thanks to the complete service package they offer. Good payout rates, many trading methods and analytical tools are all marks of a professional broker. There remain some points which result in OnlyOption being less competitive than they could be, but these are quite minor when all is said and done. Essentially OnlyOption is one of the best, if not the best, among all of the new brokers. If they continue in this trend, this won’t be last we’ve heard of them.