An Expert PlusOption Broker Review For Top Quality Information Of Trading Accounts
Plus Option gives the reassurance of providing a high-quality binary trading account that facilitates a professional trading environment. Traders are becoming increasingly aware of the risks associated with scam brokers, especially in high-risk markets such as binary options trading and FX trading. With a secure trading platform, Plusoption hopes to circumvent a few of its shortcomings, especially in light of the increased competition from other leading companies operating in the binary options market.
PlusOption does appear to be a genuinely reliable binary options broker, but the multitude of options in the market may make it difficult for traders to make an informed choice. There are several different factors to consider before choosing a binary options brokers. Hence, we outline some of the more compelling features of PlusOption, and some of the not-so-relevant trading aspects of the company through this Plus Option review.
Broker Locations & PlusOption Regulation
Broker location is one of the important aspects of a broker, regardless of their authenticity or reliability. Brokers from more established jurisdictions such as the Americas and the European continent are far more popular among traders than the other lesser-known countries from tax havens such as the Caribbean, Africa, or some parts of Asia-Pacific. Plusoption is located in the European Union with its headquarters and operational offices located in the UK and Bulgaria. PlusOption is apparently a domain operated by Redfield Markets Ltd., which has expanded its presence across the EU through satellite offices.
A sufficient European presence is usually indicative of a positive reputation, but traders must pay close attention towards the regulatory status of a company. European binary options brokers, as well as other financial companies, should possess a valid regulatory license for indulging in financial activities. There are numerous regulatory organisations in the EU such as the FCA of the UK and the CySEC of Cyprus, which ensure that all investors are protected against any financial frauds and broker scams.
However, PlusOption does not specify any regulation license or any authorisations, apart from the fact that the broker has a couple of offices in York, UK, and Sofia, Bulgaria. The absence of a regulatory license is indeed not conducive to a healthy investment environment, as traders will feel the need to seek reassurances from the company regarding the safety of investments. With a strong European base, it is not clear why PlusOption hasn’t bothered to register with the FCA or any other organisation under the European Markets in Financial Instruments Derivatives (MiFID) and the European Economic Area (EEA) initiative. Regardless, PlusOption does provide a secure trading service, but it is impossible to verify the trustworthiness of the broker entirely, without a valid license.
Plusoption has covered the basics by offering several instruments such as currencies, stocks, commodities, and indices. Traders wouldn’t have any difficulty in finding their preferred trading asset from the wide range of options, which is indeed a great advantage for PlusOption account holders. In some cases, brokers may limit market access by offering a handful of options, but PlusOption does not impose any such limitations. Given below is a list of all the tradable instruments available with a PlusOption binary options account.
Currencies: EUR/NZD, EUR/CHF, EUR/CAD, EUR/AUD, CAD/JPY, BITCOIN(BITSTAMP), AUD/USD, AUD/NZD, AUD/JPY, AUD/CHF, AUD/CAD, USD/ZAR, USD/TRY, USD/SGD, USD/RUB, USD/JPY, USD/CHF, USD/CAD, NZD/USD, GBP/USD, EUR/USD, EUR/GBP, EUR/JPY
Stocks: YANDEX N.V, YAHOO, WYNN RESORTS, WEIBO, WAL-MART, VOLKSWAGEN, VODAFONE, UNICREDIT, TOYOTA (US), TOSHIBA CORP, TESLA MOTORS, TENCENT HOLDINGS, TELEFONICA, TATA STEEL, SUMITOMO MITSUI, STARBUCKS, SONY, SINA, SIEMENS AG, SAP, SANDISK, SALESFORCE.COM, S.BANK INDIA, ROSNEFT’, RIO-AU, RIO TINTO, PROCTER & GAMBLE, PFIZER, PETROBRAS, PEPSICO, PAYPAL, NETFLIX, MICRON, METRO AG, MCDONALD’S, MAZDA MOTOR, MASTERCARD, LUFTHANSA, LOCKHEED MARTIN, LLOYDS BANK, LINKEDIN, LAS VEGAS SANDS, JP MORGAN CHASE, JOHNSON & JOHNSON, INTEL, HSBC-HK, GROUPON, GOLDMAN SACHS, GODADDY, GENERAL MOTORS, GENERAL ELECTRIC, FERRARI, FEDEX, FACEBOOK, EXXON MOBIL, EBAY, E.ON AG, DISNEY, DEUTSCHE BANK, DELTA AIR LINES, DAIMLER AG, CK HUTCHISON, CATERPILLAR, BRITISH AMERICAN T, BOEING, BMW, BLACKBERRY, BHP-AU, BAYER AG, BASF AG, BARCLAYS, BANK OF AMERICA, BANCO SANTANDER, BAIDU, AXIS BANK, ANZ BANK, AMAZON, ALPHABET (GOOGLE), ALLIANZ SE, ALIBABA, AIG, ADIDAS, 3M, TURKCELL (TURKEY), TEVA .TA, TESCO, TATA MOTORS (INDIA), SBERBANK (RUSSIA), ROLLS ROYCE (LONDON), REUTERS (US THOMSON REUTERS), NISSAN MOTOR, NIKE (US), LUKOIL (RUSSIA), HSBC HOLDINGS (LONDON), GAZPROM (RUSSIA), COCA COLA (US), CITI (US), BP (BRITISH PETROLEUM), BAE SYSTEMS (LONDON), APPLE (US), IBM, MICROSOFT (US)
Commodities: WHEAT, SUGAR, SILVER, PLATINUM, OIL (LIGHT SWEET CRUDE), GOLD, COFFEE
Indices: TOPIX, TEL AVIV 25, TADAWUL (SAUDI STOCK EXCHANGE), SSE180 (SHANGHAI STOCK EXCHANGE), S&P 500 (US), RTS (RUSSIAN TRADING SYSTEM), NIKKEI225 (JPN), NASDAQ (US), MSM 30 (OMAN), MICEX 10 (MOSCOW INTERBANK EXCHANGE), KUWAIT (KUWAIT GENERAL INDEX), KL FUTURE, ISE 30 (ISTANBUL STOCK EXCHANGE), HANG SENG (HONG KONG), FTSE 100 (UK), DUBAI (DUBAI FINANCIAL MARKET GENERAL INDEX), DOW (US), DAX (GERMANY), BOMBAY SE.
PlusOption Binary Options Payouts & Products
There are different types of binary options products in the market, and it is indeed an excellent initiative by the broker to provide exclusive access to most of the popular binary options types for its traders. PlusOption gives access to classic binary options with a predetermined expiry time, along with other binary options products such as Long-Term, 60 Seconds, One Touch, Ladder, and Pairs options. Additionally, traders who wish to invest in the traditional FX/CFD products can also trade the markets through the conventional route, which adds a bit more flexibility to the trading experience.
Although traders are treated to the widest range of binary options contracts, the payouts for the classic binary options products are slightly lower than the average. Classic binary options at PlusOption only provides a maximum payout of 81%, which reduces even further for other options such as long-term or 60 seconds. PlusOption does, however, improve its payouts for other options such as one touch and ladder options, where the maximum payouts for binary options can reach as high as 1500%. Therefore, traders can expect to make a fair amount of revenue through high-risk binary options, which makes the PlusOption payouts competitive for most traders.
The minimum investment per trade varies according to the type of binary option and the asset. Nevertheless, the minimum investment size starts from $25, which is staggeringly higher for any binary options account. For example, smaller traders with a minimal investment capital can quickly run out of their money by trading a minimum of $25 during consecutive losing streaks. Even some of the more expensive brokers allow its traders to invest as small as $5 per trade, while other mainstream brokers are known to allow a minimum order size starting from $1. Hence, you should be careful about preserving your capital through proactive money management.
PlusOption is tight-lipped about its bonus packages, as the company provides a personalised bonus program for its clients. The broker may provide a bonus of up to 100% of the invested capital, but traders may find it difficult to obtain the maximum bonus from the company. In fact, there are several bonus terms and conditions, which makes it even more tedious for traders to access their money. PlusOption requires its traders to trade at least 30 times the bonus amount to be able to withdraw their trading capital, which is similar to the bonus conditions issued by other brokers. However, if you are concerned about the bonus, you must bargain hard for a good deal.
PlusOption Trading Platform
PlusOption is another binary options company to offer the SpotOption platform through a customised web-based platform. The interface is not as advanced as the platforms offered by other SpotOption brokers, but PlusOption has indeed covered all the basic features for both beginner and professional traders. The SpotOption platform has several innovative features such as the Strategy Advisor and the option to trade FX/CFD products, which manages to make the SpotOption binary options platform one of the best trading interfaces in the market.
The PlusOption binary options platform trading dashboard contains three sections, where two sections are reserved exclusively for charting and trading. These two sections provide an opportunity to choose the asset, the expiry time, the investment amount, the chart, the Trendify/Strategy Advisor feature, and the option to Call or Put an option. The top-most section of the platform layout houses a choice of all the binary options products offered by the company, along with the choice of currencies, commodities, stocks, and indices.
PlusOption’s Strategy Advisor feature can be utilised by traders to analyse the markets through an automated program, which scans the previous price action to recommend a trade based on the existing technical factors. Strategy Advisor uses RSI, Moving Average, and Bollinger Bands for technical analysis, but it is up to the trader to choose an indicator for analysis. The accuracy of the prediction may, of course, vary according to the market conditions, but it can certainly help in minimising the human element while analysing the charts.
PlusOption Mobile Apps
Mobile users can either choose to trade binary options through the SpotOption web trader interface or download the dedicated PlusOption apps that are available for iOS and Android operating systems. The mobile trading platforms are developed to offer a highly advanced trading environment with incredible visual experience, which is indeed guaranteed to provide one of the best mobile trading experiences in the market.
The proprietary app is free to download from both the Google Play Store and the Apple App Store (iTunes) and is free from any commercials or advertisements. The mobile apps incorporate several security protocols for a secure trading experience; therefore, you don’t have to worry about the safety of your trading funds.
PlusOption Account Categories
The broker understands that it needs to cater to retail traders, in order to be able to remain competitive in the rising competition. The PlusOption minimum deposit is also designed with this factor in mind, which ensures that traders can open an account for as low as $250. It is also especially imperative for traders to make a higher investment, as the minimum order size of $25 is too high to be able to use any money management strategies effectively
A minimum deposit of $250 qualifies for a Micro account, which is the smallest account reserved for small account holders. The Micro account has some amazing qualities such as daily market reviews and trading alerts, which does make it quite a value for money account. However, the Silver account, which is the next account category, is significantly more expensive and requires a minimum deposit of $2500. The Silver account is similar to the Micro account in most aspects, apart from an introduction to a personal account manager.
PlusOption has two premium account options in the form of Gold and Diamond accounts. The Gold account requires a higher $10,000 investment, in return for account features such as a personal account manager, a financial plan, a risk management plan, access to a personal analyst, and webinars. Even though the broker claims its Gold account to be the most popular option, we believe that the Micro account would be the more suitable option. The Diamond account, on the contrary, may be a better choice for larger investments, especially if you are considering depositing around $50,000. The Diamond account offers speedy withdrawals, an invitation to VIP events, increased payouts on options, and access to trade rooms. The Diamond account is apparently a great option for premium traders, but there may be other options in the market that should offer similar account features at a much lesser investment premium.
The payment methods for deposits and withdrawals are as per the industry standards. There is a wide range of payment options such as credit cards, Skrill, WebMoney, Wire Transfer, and Yandex. The minimum withdrawal amount is $100, which of course requires traders to meet a minimum trading volume in case they are availing a bonus. Diamond account holders can expect priority withdrawals, but all other account holders may experience a security hold while initiating a withdrawal request.
PlusOption Customer Service
PlusOption offers a dedicated customer support team through phone numbers in the UK and South Africa, which offers 24X7 support for all traders. The broker also offers a web contact form and email addresses, but the live chat feature is not available during most market hours. Other than the sparing availability of the live chat team, all other customer service channels offer the best customer interaction for supreme customer satisfaction. The broker has ensured to provide a good customer interaction platform for its traders, which should eradicate some of the concerns regarding the broker’s regulatory status.
PlusOption offers several binary trading resources, including market review, trading alerts, financial plans, webinars, and a personal account manager. Some of these resources are only available for premium account holders, but all traders receive access to daily market reviews and trading alerts. The webinars serve as a great guide for beginner traders, but there aren’t that many resources for professional traders. Regardless, the company does offer one of the better trading resources in the market. Traders may also sign up for the Demo video, or browse through the broker’s FAQ section for more assistance.
- More than 190 different assets for trading.
- A wide range of binary options products with the highest payout of 1500%.
- Great customer service experience.
- SpotOption platform for desktop and mobile trading.
- Dedicated mobile PlusOption trading platforms for iOS and Android.
- PlusOption is not a regulated company.
- Premium accounts are expensive.
- Classic binary options have a lower payout of 81%.
Is PlusOption Safe?
PlusOption is not regulated, neither does it have any verifiable licenses from the UK or Bulgaria. However, there are no signs that indicate PlusOption to be a fraudulent or scam broker.
What Is The Primary PlusOption Trading Platform?
PlusOption uses the SpotOption platform for its desktop users. Mobile users can access the dedicated mobile trading platforms by downloading the apps from the Google Play Store or the Apple App Store.
Does PlusOption Offer A Demo Account?
No, PlusOption does not offer a demo account but offers a demo walkthrough and a video for its customers.