Optionet.com Broker Review

Optionet.com is a full service binary option broker that offers its clients attractive returns, a sizeable welcome bonus, a lot of underlying assets to trade, especially in forex options, and a slick, intuitive trading interface. However, it doesn’t have the trading tools that you would expect from a full-fledged trading platform and has very sparse education materials. Unless you want to trade for the signup bonus, there are better, more established option brokers on the market.

Overview

Optionet is operated by Mika Holdings and incorporated in the British Virgin Islands. It also operates an office in London managed by seasoned brokers.

Underlying Assets

Optionet offers a great many underlying assets to trade. They specialize in options on forex and offer several currency pairs that you won’t find with many other brokers. The underlying assets that they offer include:
• 12 Different Currency Pairs including the USD, EUR, CHF, JPY, GBP, AUD, CAD, and TRY.
• Commodities including gold, silver, and crude oil.
• Stocks including Apple, British Petroleum, Barclays, Societe Generale, France Telecom, Sony, and Sumitomo.
• Indices including the NASDAQ, S&P 500, IBEX 35, DAX 30, FTSE 100, CAC 40 Future, and FTSE MIB 40 Future.

Account Types

One of the first decisions that you have to make when starting out as a trader at Optionet is what type of account you want to open. Each account type has a qualifying deposit requirement and comes with special privileges.

Most traders will start at the Mini Account level. This account requires a minimum deposit of $100 and is for novices. The low deposit only gets you bare-bones service. Your returns on binary options are capped at 85%. The biggest plus is that you will get access to an option trading guide that can help get you started trading.

If you can afford it, a Silver Account is a much better alternative to the Mini Account. To open a Silver Account, you will have to deposit at least $1000. The higher deposit nets you important perks however. You get a max of 87% returns on your options and access to more advanced trading tools.

For more advanced traders, the Gold and Platinum Accounts open up even more doors. The Gold Account requires at $1,500 deposit and in return you get a maximum 88% return on your options and access to a personal account manager. The Platinum account requires a hefty $5000 deposit. However, you get an 89% maximum return and access to exclusive benefits and features that a personal account manager will discuss with you.

Payment Methods

Optionet offers all of the major payment methods for deposit and withdrawal. You can deposit via:
• Credit Cards: All major credit cards, with the exception of American Express are available.
• Electronic Wire Transfer, Ukash, and CashU
• Wire Transfers

All withdrawals are processed through the same method that you deposited by.

Unique Features

The biggest unique feature that Optionet offers is the ability to have bigger returns with larger accounts. For traders that can afford the Gold or Platinum Accounts, the returns that you have consistent access to are nearly unbeatable.

All the options that are offered are also open options, which means that you can bet on both sides of all underlying assets. All the options offered by Optionet are able to be closed out early as well. This is in stark contrast to many brokers where only certain options that you pay a higher premium for are able to be closed early.

The bonus structure is also generous for first time deposits. You can get anywhere from a 5% to a 30% deposit bonus depending on your account level and how much you deposit.

Customer Service

Customer service is available via phone, email and live chat. You also get access to free one-on-one training depending on your account level.

Conclusion

Optionnet is a good option for advanced traders that can afford the higher deposit limits and bigger bonuses. However, if you are a beginning trader, they offer very sparse documentation and support. It may be better for novice traders to look elsewhere.

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