I’ve always seen TopOption among the recommended brands in the binary options market but I haven’t really fully explored their features so finally, I have decided to checkout their services and see if they are indeed one of the best brokers in this industry. Based on my research, they are based in Nicosia, Cyprus and are currently authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC). Among the advantages that I liked about them is that the minimum initial deposit and trade size are advantageously lower than the industry standard requirements. The insurance coverage is another added benefit plus the asset choices are very diverse. Overall, I can say that TopOption lives up to its name as one of the top options for a broker to trade with. You may continue reading for my full review.
Demo Account: Practice trading allowed
Demo accounts are available but this requires an initial deposit before the feature gets activated. By using this tool, I was able to learn more about the platform and I was even able to improve my trading skills since I can make practice trades and test out different strategies.
Bonuses: More value for my money
I was overwhelmed by the available bonuses which are categorized based on the type of account (Starter, Pro and VIP) and the maximum amount can reach up to $2,500. Other than this bonus, there were also other extra benefits that are worth availing and this includes a free 1-on-1 training, trading signals, client protection insurance and many more.
Platform: Well-optimized for binary trading
The web-based platform is pretty basic in terms of presentation but what I like about it is that it runs pretty fast and isn’t prone to any lags. Well, I wasn’t really surprised after learning that they are powered by TradeSmarter which is widely known to be a top notch platform provider.
Mobile Trading: Coming soon
According to their website, they are planning to launch their mobile trading feature soon. This is definitely good news for people like me that mostly rely on our phones and gadgets to connect to the web rather than a desktop PC.
Tradable Assets: Many variations
I’m the type of trader who wants to maximize my profitability and in order to do this I need to be with a broker that has a good range of tradable assets. TopOption currently has over 180 choices which is enough for me to explore different trading opportunities.
Minimum Trade: The perfect investment size
The minimum trade size is $10 for every option that was purchased. For me this is the perfect minimal amount so I can carefully manage my investments.
Payout Rate: Bigger profits at stake
After browsing through the assets that are listed on the platform, I found out that the profit range is around 75% to 80% and the maximum rate is at 85% which translates to much better investment returns.
Their Call/Put trading instrument is available and is known as Binary Options.
This short term option is also available with a good range of payouts.
Trading pairs can be done with this broker and the choices are interesting.
Other alternatives include the Option Builder, One Touch and Pro Option which all have promising payouts and favorable trading conditions.
Deposit and Withdrawal
Minimum Deposit: Surprisingly low!
The $100 minimum initial deposit is definitely good news for me and for those who want to start trading with a low capital. A lot of brokers today have revised their minimum deposit requirements so I do hope they won’t increase this anytime soon.
Deposit Methods: Banking made easy
Funding the account was never a problem since I can do it using various methods like credit cards, Fast bank transfer, Webmoney, Skrill and Neteller.
Withdrawal Methods: As easy as making a deposit
And how about the withdrawals? It’s basically the same as making a deposit and only requires a few clicks to accomplish.
Withdrawal Processing Time: Totally hassle-free
According to their website, it will take 7 days to get my money back and based on my actual tests they were able to fulfill this promise.
Channels: Lots of ways to communicate
I never encountered any delays or problems in getting in touch with the customer support team because they can be reached in a number of ways. I have the choice of calling them up via phone, send a message via email or fax or just get instant support via the live chat.
Availability: Lines are always open
It’s good to know that I can contact them anytime I want too since their lines are available 24 hours a day and even on weekends.
Supported Languages: Global indeed
This broker is indeed ready for international customers because they support various languages including English, Arabic, Spanish, French, Italian, German, Japanese, Polish, Czech and Russian.
Average User Rating: 9.1
Platform Design: Easily likeable
The interface design for me was easily likeable and the theme that they used was just right for the platform. It’s well-structured and contains all the necessary elements that are needed for trading. On a side note, I wish that they could make it more interactive so I won’t easily get bored.
Support: Issues are mostly resolved firsthand
I must say that I was really impressed on the amount of attention they used for any kind of inquiry and complaint. It seems that their support has undergone a rigid training for handling any type of customer issues because they are able to find solutions quickly. Bravo!
Reputation: Internationally recognized
Knowing that they have passed the strict regulatory requirements a financial regulatory agency like the CySEC is a good indication that they are reliable. Surely, they won’t be able to get this kind of recognition if they were not that good!
Editor’s Rating: 95
TopOption definitely lives up to its name as one of the top options for a broker to trade with. They have put exceptional security features in place and an individual insurance coverage for protection. It’s relatively easy to say that they could become the number one broker in the foreseeable future.
We have received information that TopOption is no longer accepting new clients starting January21, 2017.
For this reason we highly recommend that you trade with one of our highly rated brokers like 24option.