OptionWeb is very popular among French and Italian traders but residents of the U. The brokerage has been in business for a few years, which is a relatively long time for the binary options industry and on top of that, they are regulated by the Cyprus Securities and Exchange Commission CySEC since The company is transparent and so far there is no scam suspicion.
The owning company is regulated, which is always a good thing, they were founded back in , which makes them an old timer and with enough experience to service even the most demanding of traders. I am not saying that a new broker is automatically bad, but knowing that OptionWeb is doing binary for several years now, gives traders an added amount of confidence.
This might be just me, but I feel like the information presented is a bit tangled and maybe even a bit misleading. Usually if a brokerage wants to innovate, they build their own platform but that is more costly and time consuming of course. Going with SpotOption, they make sure they offer a polished product, without taking any unnecessary risks. A good addition is a downloadable version of the platform; the online version works just fine and you can access it even if you are not at your computer but the downloadable version offers bigger buttons and chart.
The account structure offered by OptionWeb is a bit different than with other brokers in the way that all your deposits add up and eventually, if you keep depositing you will be moved to the upper tiers of accounts. For example, their lowest account is Starter and requires a EUR deposit; the next account is Standard and requires 1, EUR deposit but if your combined deposits over time reach 1, EUR, then your account will reach Standard status and you will benefit from all the extra features offered by this type of account.
This way you can start with the lowest account to test their service and execution and then slowly climb your way to the upper brackets Gold, Platinum, Diamonds. I like the fact that it offers the possibility to climb the account ladder and reach better trading conditions over time but other than that, I believe you can find better trading conditions with other brokers. There are no major complaints against this brokerage but some traders have said that the platform is clunky and slow to transmit orders and others have complained about the requirement to upload identification documents.
The thing about IDs is very normal and is required by almost all brokers due to anti money laundering policies and a slow platform can be attributed to more than one cause slow client internet connection is one of them. Overall, nothing alarming and nothing out of the ordinary. Bonuses are limited-time offers and are subject to change so you will have to discuss the amounts and percentages with your account manager. As a general rule, the bonus can be withdrawn after a 40 times volume has been reached.
If you want to withdraw funds from an account before the bonus turnover has been reached, all bonuses will be canceled and removed from the account; profits may also be canceled. There is no minimum withdrawal account but any withdrawal below units depending on account currency will be charged a 25 units fee.
The withdrawal time for the Starter and Standard accounts is 5 days and it reduces for the upper tier accounts 24H for Gold, Platinum and Diamonds. A Demo account is available but only for Standard and above accounts. Other than that, all the regular SpotOption features are available. The website is available in 7 languages, the platform is user friendly and fully functional but the website could be improved in terms of clearness of information.
The asset structure is differs from most brokers: This means that the lowest account offers only 80 assets, while the more expensive ones offer and even more assets. The expiry times are the usual seen on a SpotOption platform, ranging from 60 seconds to 10 minutes, half an hour, hourly and Long Term. Withdrawal must be made through the same method used for deposit and the processing time differs according to account tier, ranging from 5 days to 24H. The required turnover for the bonus is 40 times and the bonus amount and will be discussed with an account representative.
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The words Suck, Scam, etc are based on the fact that these articles are written in a satirical and exaggerated form and therefore sometimes disconnected from reality. All information should be revised closely by readers and to be judged privately by each person.More...