Broker Review: OptionRange.com
One of the newest binary options trading platforms on the market is OptionRange. OptionRange is powered by Tradologic, the world’s leading online binary options platform, and is owned by Merchant Serve Limited, a company that has a significant amount of experience operating gaming platforms and payment processors.
Based in Cyprus, OptionRange offers an easy to use interface that is great for new and advanced traders alike. The minimum deposit is also lower than most other brokers, letting you get started quicker for less money. It does lack the tutorials that many other brokers offer to help you learn option trading and phone and live chat support are not offered, however.
Creating an Account
Creating an account at OptionRange is incredibly easy. This signup process takes less than a minute and once you deposit your money you can be trading options in no time. The website is also available in English, Russian, and French. The minimum deposit is $50 and each trade has a minimum for $10. Deposit methods include:
With OptionRange, you can trade all the major assets that you can trade in any binary options platform. You can trade forex, stock, commodity, and index options. Additionally, OptionRange offers several stocks that you can’t find in other binary options platforms, including McDonald’s, ING Group, and BOVESPA.
The user interface at OptionRange is incredibly simple and easy to use. The Tradologic-powered platform lets you see four different options at once. This gives you the information that you need to trade a few options at once, without putting too much clutter on the screen. The platform is 100% web-based, so there is no need to download software either.
You do give live news through a feed in the interface, but there is no analysis provided. You also don’t get access to charting or other in-depth analysis tools. This can be a major limitation, especially if you are trading forex options or other securities that require a large amount of technical analysis.
Touch, Digital, and Range options are all offered in the OptionRange platform.
Unlike many other binary options brokers, OptionRange lets you take advantage of a close now option. This lets you close your option before the expiry time to either limit your losses or to help lock in your gains. If you prefer, you can also extend the expiry time of your options. This increased flexibility can be the difference between profit and loss for many traders.
Another great feature of the OptionRange platform is that you have access to a $500 play money account to test out the interface before you deposit your money. The play money account lasts for three days or until you deposit money.
Payouts and Commissions
With OptionRange, you can make up to an 81% return on your options. There are no other commissions or account fees that you have to worry about.
The customer support at OptionRange is fast, but the options to contact them are limited. Phone and live chat support is not offered. Instead your only option is to contact support through email. Emails tend to be answered quickly, but being able to talk to someone in person is always welcome.
OptionRange is a great, clutter free platform that is good for all levels of traders. It has good payouts and offers a wide range of assets that you can trade. However, phone support would be a welcome addition and you don’t get access to charting tools, analysis, or a comprehensive educational section. If you need any of these features, you should look at another platform. If not, OptionRange could be a great fit for you.