REVIEW REVISED DUE TO RECENT WITHDRAWAL PROBLEMS WITH BROKER.
Conclusion: There are many binary options brokers out there to choose from like Stockpair and Ubinary that actually let you withdraw your money when you request it. I therefore see no reason to register with a broker that appears to have a clear track record of withholding payments from traders.
|Normalized profit||Up to 85%|
|Trading assets||Stocks, Forex, Commodities, Indices|
|Min. Account size||$ 250|
|Min. Trade size||$ 25 ($5 with 60 seconds)|
|Special features||Call / Put, Option Builder, One Touch, 60 sec, Sell back options (Binary Meta)|
GTOptions is the property of EUFALA INVESTMENTS LTD who is registered in Cyprus. They started operation in mid 2011, and have been going on strong ever since.
They are not one of the largest binary options brokers currently in operation, and this is evident by the modest 71 asset portfolio, including:
- 13 FOREX Currency pairs
- 7 Commodities
- 24 Indices
- 27 stocks in various markets including Nasdaq and the European Markets
Registering an Account
As always, registering an account is very simple, and only requires minimal details. Once entered, you can browse the website like a regular trader, including seeing many features not visible for non-registered vistors. In order to be able to put in a trade with GToptions, you’ll need to deposit some funds. The minimum required deposit for trading with GToptions is $250.
GTOptions has implemented the Spotoption trading platform into their website. They have worked hard to give it a good feel, and admittedly have done a pretty good job. The initial page layout is very clean and not too packed, even though it does include a lot of information. The bottom of the screen, as usual, provides a great deal of information and educational tools for beginner traders.
The interface is currently available in three (3) languages: English, French and Russian.
Main Trading Page
The initial trading page consists of 5 different platforms, which we’ll go into later in the review. The main standard binary options trading page consists of 4 graphs, listed one after the other. Each of the graph behaves independently and you can enter a trade in all of them simultaneously should you choose. The assets are organized pretty neatly, so as to make it easy to find the asset you’re looking to trade at any time.
As mentioned earlier, making a trade is pretty easy: You simply click the call or put buttons and choose how much you want to invest. You can use each separate graph to put in a separate order at any time. It’s really useful having 4 independent graphs for this.
The payout rates are anywhere between 70% and 85% depending on the asset, with most the assets in the 70-79% range having an “insurace” rate, which is basically a rebate if your option ends out of the money.
The one thing I didn’t like about the GTOptions platform is that the refresh rate of the stocks is a bit slow. This means that the price you see on the main page is not necessarily the most current price. This is understandable since it is a web-based platform, but is still something that GTOptions should work on improving. When entering a trade however, GTOptions minimizes slippage by giving you the most up-to-date by the second price of the asset in question. It then gives you 2 seconds to either approve or cancel the trade. This is because, like I said, the new price can differ from the price on the main page and the trader might not still be interested in moving forward on the trade.
GTOptions offers a number of support channels, including live chat in a number of languages, telephone support in Canda, UK and Russia, and of course email support. I of course went ahead with the online chat.
Response was acceptable, while not being totally stellar. It took just over a minute before someone actually came onto the chat screen and started answering. That being said, once the chat started, the answers came very fast and it was apparent that the support person knew what she was talking about.
Update: I had some good experiences withdrawing winnings from GTOptions in the past. However, due to the sheer number of complaints I have been receiving recently and complaints I have been seeing on the web, I am starting to think I am in the minority. Therefore it would seem that my review of the support does not properly represent how they really are.
GTOptions offers the usual Spotoption feature portfolio.
Option Builder – By far my favorite feature of all the binary options trading tools. Options builder lets the trader decide on the important features of the options in question. The trader chooses exactly when the option should expire and, the best feature, what the in the money and out of the money payouts will be. I just love the fact that you can choose the risk/reward ratio of the option. This enables less experienced traders to lean back on a higher fallback payout while still getting a very reasonable payout upon winning. Like I’ve mentioned in other reviews, this feature is also handy when the trader takes a bonus upon depositing, as they usually require a certain trading volume for liquidation. Increasing your odds and OTM payout makes it easier to achieve this trading volume
I’m not a big fan of the 60 seconds trading feature, but I do know that a lot of you out there do fancy it so I’m mentioning it here. The upside to the 60 second option is that the minimum investment is lowered to $5 per trade, as opposed to the regular $25.
Binary Meta is the familiar advanced Spotoption trading platform. With GTOptions, the Binary Meta platform allows you to perform Roll-over and Double-up actions upon trades before expiration, in order to maximize profits and hopefully minimize losses.
Payouts and Commissions
Payouts with GTOptions differ according to the trading asset and tool. Regular options have a 70%-85% payout, with Forex assets usually offering a higher payout. The lowers payout assets however offer “insurance payouts” which make the normalized payouts for other assets like stocks around 81%. This is considered pretty good, and it is always good to have the option of a rebate.
The high yield payouts of the one-touch options are also very good at 280% up to 640%, which is pretty astronomical. Keep in mind that these payouts are high for a reason, as One Touch options are somewhat riskier than regular options.
UPDATE: Despite my good experience with GTOptions, I cannot ingnore the constant flow of complaints and bad reviews that they are getting from traders that seem to have been burnt by them. I have also seen many complaints on other websites, which I simply cannot ignore. For this reason I cannot reccomend GToptions as a broker to trade with. There are many other good brokers to choose from, and I would recommend using one with a better track record.
GTOptions offers a very good, stable, attractive and accurate trading platform. It’s a pity however that they’ve decided to join the league of non-responsive non-paying brokers.
Conclusion: There are many binary options brokers out there like to choose from like Stockpair and Ubinary that actually let you withdraw your money when you request it. I therefore see no reason to register with a broker that appears to have a clear track record of withholding payments from traders.
This post is also available in: Turkish