I had to check my eyes to see if I came to Redwood Options or TradeRush… I know they both share the same virtual address but this is strange. In the time of writing this, it has been a year. No one updates the site? Check out our Recommended Binary Options Brokers. I like the design of their website, although it is very similar to other brokers. All in all, this is not a scammy broker, they have been business for a long time without major issues. I guess they are on the bandwagon of brokers using virtual addresses to make them look like a UK business.
They consider themselves a leader in this industry, just like almost any other broker out there… nothing new here and throughout my stay on their website, I realized this is the main drawback of Redwood: They were around for several years but only opened for the large public in March according to Yahoo Finance. Speaking of being the leader in the industry, did I mention that maintenance seems to be an issue on the site? Lucky you get some starter webinars too for that price, oh wait that reminds me, are these TradeRush or Redwood options webinars?
On a more cheerful note, I like the payouts they offer and how they make use of the SpotOption platform which is widely known for its ease of use and high level of functionality. When it comes to policies, they seem honest in their terms and conditions. For example, regarding that their financial information made by them like account managers etc and their site might not be accurate and that you probably should be advised by someone with no conflict of interest.
On the other hand, the bonus terms are not entirely clear and not in accordance with CySEC but then again, Redwood Options is not regulated. Anyway, the information contained in those 2 lessons is good and can give you an overall idea of how the market works. Is RedwoodOptions a Scam? Redwood has been around for quite a while. The search part is the easy one, now you need to dig dipper into the web and look for real comments.
Most complaints are regarding bonus lucks. Redwood Options Bonus Their Bonus differs depending on the deposited amount. Once you have accepted a bonus, you cannot withdraw your deposit or future additional deposits either. Unless you reach a certain volume of trading of either 30, 40 or 50 times the bonus. If a bonus is a refund however, the volume is 20 times the bonus amount. They will process the request within 3 business days and another 5 to 7 business days must pass until you will receive the payment.
The Spotoption platform brings the user easy access to all features and improved functionality. The website is offered just in English which is a major drawback for a lot of customers. The FAQ does not work properly and you can get confused due to copy pasted material on the site. Moreover, the bonus terms are not clear and user friendly, especially for a beginner.
Unfortunately, I could not find that many assets in the trading platform itself. From what I can tell, there are around 28 currencies, 15 Stocks, a handful of commodities depending on what type of options you want to trade and around 5 indices.
The expiry times are enough to choose from, ranging from 60 seconds to an hour or to the end of the day, week, month and next month. Credit card withdrawals are free of charge. The payment request will be processed by Redwood within 3 business days and it will take an additional 5 to7 business days until the money will reach your account. You probably need to ask your account manager about it. Remember that once you have a bonus, you cannot withdraw your deposits until you have reached whatever the volume they demand from you!
Redwood Options Overall Rating: Check our Trusted Brokers. Binary Options That Suck. Please be noted that all information provided by Binary Options that Suck are based on our experience and do not mean to offend or accuse any broker with illegal matters. 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.
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