GlobalOption Broker Review

Broker Review: GlobalOption.com

option trading, forex option

Global Option is a relatively new, but highly acclaimed binary options broker. They allow you to trade digital options quickly and easily with their proprietary software and have the tools that you need to educate yourself to successful trade in the market. If you want to trade in binary options, Global Option is a broker worth considering.

Background

Global Option was founded in early 2010 and is located in Cyprus. It is owned by its parent company WGM Services Ltd. It offers service in five different languages, including English, Spanish, Dutch, Russian, and Arabic.

What Can I Trade?

Global Option offers the following underlying assets for its clients to trade on:

  • Currencies: EUR/USD, GBP/USD, USD/CAD, AUD/USD, USD/JPY, EUR/GBP, EUR/JPY
  • Stocks from several top American companies
  • Commodities: Oil, gold, copper, silver
  • Indices: Dow Jones Futures, NASDAQ 100 Futures, S&P 500, FTSE 100, CAC 40, DAX 30, CAC 40

The option contracts are allowed for one hour, on day, one week, and one month from the strike date. You can trade in the options up until fifteen minutes before they expire. After that, all trades are locked.
binary option trading

Depositing and Withdrawing

With Global Option you can get started trading binary options with as low as a $100 minimum deposit. However, the minimum trade is $25 so the minimum deposit doesn’t give you many trades to work with. Deposits and withdrawals are allowed by all major credit cards, checks, and wire transfers. If you’re not ready to deposit and risk your money yet, Global Option also provides you with a free demo account where you can get used to the digital options market before you risk losing your own money.

One nice perk of signing up with Global Option is the binary options bonus you get on your first deposit. All new accounts are eligible for a 25% bonus on a deposit of up to $4000, meaning you can have up to an extra $1000 to trade with just by depositing.

For binary options in the money, Global Option pays up to 81% of the contract. For options out of the money, they pay 10% of the value of the contract. These prices are higher than many other binary options brokers in the market today.

Software and Support

Global Option uses proprietary trading software that is based in your browser. It’s convenient, with no download required and fast and easy to use. The browser-driven software allows for the quicker settlement of trades, letting you get into more options quicker.

With Global Option, you will get your own personal account manager that will help you with everything from depositing to giving your resources to make winning trades. In addition to your personal account manager, you will also get access to a learning center to bring you up to speed on the basics of the binary options market.

Customer Service

Another area that we evaluated for GlobalOption is their customer service department. Specifically, we wanted to check the live chat feature that they offer to see if their representatives are knowledgeable, friendly, and prompt. These are the key qualities you want in customer service reps for your options broker because you do not want to waste your time if at all possible during trading hours.

As a part of this evaluation, we asked the representative a list of questions that would require a bit more knowledge than just reading the website, to get a feel for what they know about their service and how they can relay that information to option traders.

As a whole, we thought GlobalOption has pretty decent customer service. There were issues with response time – a few of our questions took longer than normal for responses – but overall the representatives were courteous and professional. One of the questions we asked was about trader regulation. GlobalOption reported that they are regulated by CySec, which is the Cyprus Securities and Exchange Commission. We also learned that they do offer personal, one-on-one instruction for option traders, and were even walked through the process to sign up. Finally, the representative addressed one of our questions and said that wire withdrawal fees were free for credit and debit card refunds, cost $25 for wire transfers, and cost $10 plus postage for mailed checks.

Their chat is only available during market hours, so after-hour queries will have to wait. And again, there was a bit of lag at times. All in all, GlobalOption’s customer service was more than adequate for us.

Conclusions

GlobalOption.com has some nice features – including bonuses and high payout rates – but the lack of trading methods may deter more experienced traders from this broker. Still, beginners should give it a try for the bonuses and simple user interface.

forex option, binary options

GD Star Rating
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GlobalOption Broker Review, 1.0 out of 5 based on 1 rating



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