CTOption has been developing their platform for quite some time. They finally launched it and have been getting a lot of buzz and success lately, so we decided that it’s time we did a full hands-on review on their platform.
|Normalized profit||Up to 85%|
|Trading assets||Stocks, Forex, Commodities, Indices|
|Min. Account size||$ 200|
|Min. Trade size||$ 5 (!!)|
|Special features||High / Low, One Touch, Boundary, 60 Seconds|
CTOption is run by a group of veteran forex and binary options brokers. Unlike most binary options brokers who use while label trading platforms from 3rd party companies like Spotoption or Tech Financials, CTOption made the decision that in order to be successful in the long run, they need to have their own platform. So come 2013, their platform is finally ready and the long waited launched is finally upon us.
CTOption’s asset porfolio currently isn’t the best out, but since they are relatively new, they have been adding new assets almost on a daily basis. I’ll update this review in a couple of weeks, and I’m certain there will be many more assets. The asset portfolio currently consists of:
- 23 FOREX Currency pairs
- 4 Commodities
- 5 Indices
- 14 stocks in various markets including Nasdaq and the European Markets
Registering an Account
Signing up is predictably easy. Just fill in a few simple details and your account is good to go. You obviously won’t be able to do any real trading until you deposit. CToption currently have the lowest minimum deposit requirements in the industry. Based at a mere $50, this really shows that they have some kind of long term strategy here.
So, like I mentioned before, CTOption have their own trading platform that has been designed and coded from scratch. It’s obvious that a lot of work and effort has been put into making this platform intuitive and easy to use. It seems like they have taken a close look at the other platforms and have fine-tuned their platform to take the strong points from the different platforms. All in all the platform seems to be much easier to navigate than other platforms, although this comes at the price of somewhat limited freedom, which I’ll go into a bit later.
Almost all binary options platforms claim to have a “tutorial” section. CToption have taken it one step further and have a “show me how” button.
After you choose a task, the system will give you a guided walkthrough on how to perform that task. It even gives you a demo of how to enter your first trade. Pretty neat actually.
Support with CToption is pretty good, much better than I expected from a company that only recently released their platform. It would appear that after investing so much time and money into developing their own platform, they decided it’d be a waste to start skimping on customer support. The response time for chat support was one of the fastest I’ve ever seen. It took mere seconds to get someone on the line. Questions I asked were answered really quickly, which demonstrated that the support people have been given training and don’t need to run around asking other people with every question they’re asked. The only downside is that they are currently not operational 24/7 or even 24/5. Email support is available almost around the clock, but chat support is only available until somewhere in the middle of US trading, around 16:00 GMT.
Main Trading Page
The main trading page looks a bit like the Tech Financial platform (the one used by 24option) in that you don’t have any graphs cluttering the screen. The main screen just gives you one big list of all the currently tradeable assets, their current price, and how much time remains before the option expires.
Like with most brokers, CToptions makes it easy to enter a trade. Just click on whether you think the asset is going to go up or down, how much you want to invest and, when you’re ready, click apply. The quote updates constantly while you’re in this screen and the order goes through instantly when you click apply, meaning that there is absolutely zero slippage.
As with all binary options brokers, CToption also offers alternatives to the regular High/Low option
This is an interesting tool. As opposed to some other brokers, CToption offers OneTouch throughout the week and not only during the weekend.
With this feature the asset needs to only to reach (or touch) the strike price once during before expiry in order for it to become ITM. The price level upon expiry does not matter so long as it reached the strike price at least once during the life of the option. The CToption illustrates the option very clearly and makes it very easy to understand how to enter a trade and what need to achieve in order to win.
Boundary is similar to the other features, only with this one you need to predict whether the asset will expire within or outside a certain boundary limit. This can be a bit tricky to predict, but if you think an asset is going to make a big move in the near future (earnings report anyone?) then this feature can be pretty handy.
This feature is becoming increasingly popular among traders today. I personally am not a big fan of the 60 second binary options as I think it’s almost impossible to really predict the movement of an asset within such a small timeframe, unless it makes a big move and you know how to recognize a rebound. However, since so many brokers have started offering it, I guess this means there is quite a demand.
Payouts and Commissions
Payouts with CToption vary per asset and option type, but are always in the 70%-85% range. CToption allow one free withdrawal per month, which is more than adequate for anyone who trades on a regular basis. For those who want to make more withdrawals, each additional withdrawal comes at a $30 charge. This is understandable since wire and bank transfers cost money on both sides. As for methods of withdrawal, all the methods used for deposit are viable for withdrawal. These include ALOT of methods such as wire, WebMoney, GiroPay, CashU, Neosurf, Sofort, MoneyBookers, Yandex, Ideal, Sporopay, Nordea Nettbank, LaCaixa Linea Abierta, MisterCash, EuTeller, Boleto, Poli, BPay, UnappliedTx, WebMoney, Gluepay, eKonto, Sofort, Banklink, GiroPay, Moneybookers, Przelewy24, EPS, Ewire, Abaqoos, Multibanco, UseMyServices, Santander, Moneta, Instadebit, Fundsend, Teleingreso, Dineromail, Neosurf, CashU, UKash. That IS alot.
CTOption looks like one of the better binary options brokers currently available. They made a great (and bold) choice in investing into their proprietary platform, which is constantly improving and well maintained. They offer many viable payment methods and are hard at work trying to make it as easy as possible for traders to understand and trade without worries.
- $5 minimum trade amount
- Very easy proprietary interface
- Huge variety of deposit (and withdrawal) methods
- Free withdrawal once a month
- Good and responsive support
- Limited stock market trading support
- Currently longest 15 minute options
One thing is for sure though, CToption is a legitimate binary options broker and can definitely be trusted.
To start trading Binary Options with CToption, visit http://www.ctoption.com
Register with CToption:
This broker can definitely be recommended!