Grand Option Review
Grand Option ReviewFebruary 16, 2014
Grand Option is a brand new CySec-regulated binary options broker offering 60 second options and over 85% payouts. Operated by Rodeller Limited, Grand Option is powered by the Tech Financials software and does not accept any traders from the USA.
- Minimum Deposit: $100
- Minimum Trade: $10
- Welcome Bonus: Tailored (Up to 150%)
- Demo Account: No
- Regulated: Yes
- Accepting US Traders: No
Security and Safety
This broker is fanatical when it comes to security. In fact, I almost gave up trying to fund my account since the staff insisted I verify my identity via phone and a variety of documents such as an official driver’s license with my current address, and some type of letter from my bank indicating I have a bank account and I’m on good terms with them.
Grand Option has a CySec license and is subject to that jurisdiction when all regulatory issues are concerned. CySec licensing means having a key official in the organization responsible for coordinating and executing regulatory policies, as well as PCI Compliance (data storage encryption and firewalls) and a transparent withdrawal policy.
This broker offers an amazingly simple, friendly, and fast signup process. You only need to enter about 6 fields and your preferred password and you’re on your way.
The user interface is quite user friendly, however I can definitely see how it would sit better with the more experienced trader. The extensive asset index means you have a lot of scrolling to do when looking for something specific to trade. As is the case with all tech financials brands, this broker is very compatible with Forex traders looking to make a transition to binary options, or alternatively any one looking for an extensive listing of currency pairs.
Promotions and Bonuses
Grand Option offers a superb bonus structure with up to 150% match on your initial deposit. Additionally, insurance, rebates, and cash back bonuses are offered for investors. The VIP Club is considered to be the one of the best in the industry. The Standard account allows you to utilize the rich video database and have a market expert available to you around the clock at no cost. The Superior account will give you access to the same tools with an extra 2.0% return on every trade which is executed, and a Top VIP account will give you access to personal 1 on 1 trading sessions with a professional trader.
The Grand Option academy is represents a condensed yet comprehensive assortment of explanations describing the trading essentials as well as specific pieces of information related directly to the broker and how things work.
High/Low: The standard format of digital options, simply guess the general trend of the trade (above or below) and if you guess correctly you qualify for a winning trade.
One Touch: This unique feature offers has unheard of payouts of up to 500%, although if you trade “One Touch” you are de facto buy shares that are not at market rates which is extremely risky. The way it works is that if the price you select is equal to or higher than a call option, or conversely, under the put option’s original sale price, your contract will expire “in the money”. However, if the price you pick does not reach the aforementioned goal rate, then you will lose the trade.
Boundary: Similar to “Range” in Spotoption, Boundary Options empower traders by allowing them to guess if a certain asset’s strike price will expire within a certain range over a pre-selected period of time. To illustrate, if you trade the news and speculate that GOOG stock will trade between $25 and $35 for the next month due to a subsidiary company IPO for example, you could buy a Boundary Options contract with $25 and $35 as the strike prices during the a week before and 2 days after the IPO. If the prices close within this range within the designated period of time, the trade will generate wins for you. Contrarily, if prices fall above or below your range, you will lose your investment amount.
60 Seconds (AKA Short Term Contracts including 2 Minutes, and 5 Minute Contracts): This is probably the hottest form of binary options available today, with traders from all over the world looking to try out this addictive new form of financial betting.
Currencies: USD/JPY, EUR/USD, EUR/JPY, GBP/JPY, CHF/JPY, USD/CAD, NZD/USD, EUR/GBP, USD/CHF,
GBP/AUD, CAD/JPY, AUD/JPY, GBP/CHF, NZD/CHF,EUR/CAD,
GBP/CAD, AUD/CHF, CAD/CHF, EUR/AUD, USD/TRY, EUR/TRY, AUD/USD, USD/ZAR, EUR/ZAR
Indices (Partial List):
Tadawul, Hang Seng, CAC, DAX, MIB, S&P500, Nasdaq, Dow Jones
Stocks (Partial List):
Sony, BP, Vodafone, Fiat, BNP Paribas, Apple, Google, CITI, Coca Cola, JPMorgan, MSFT, AMZN, IBM, XOM, Disney, FB, Badu
Gold, Silver, Sugar, Oil, Coffee, Corn,
Banking (Depositing Methods):
MasterCard, Visa, Visa Electron, Diners Club, Discover, Visa Delta, Debit Cards, Maestro/Switch, JCB, Carte Bleue, Dankort, CartaSi, Laser, MoneyBookers, Wire Transfer
Withdrawal Methods: You can withdraw money to your credit card, via Monetbookers (Skrill) E-Wallet, or using Wire Transfers.
Withdrawal Fees: First cash out is Free, and once a month as well cashing out has no fees. After that Withdrawals using a Credit Card incur a fee of 3.5% of total withdrawal sum and 2.0% if you use Moneybookers. Withdrawals using a bank transfer incur fees according to the list below:
- USD Account: $30
- EUR Account: €25
- GBP Account: £20
- JPY Account: ¥2,500
Conclusions and Recommendations: Grand Option is not a the place for some one who is just starting out or alternatively not sure about investing and wants to start out depositing smaller amounts. This broker offers one of the best trading platforms I have ever seen and a completely regulated environment. If you are a serious investor looking for an honest (no scam) binary options broker, grand options is what you are looking for. US traders looking for a recommended broker are invited to try out Brokerage Capital.
3 Responses to Grand Option Review
Is the minimum deposit on Grand Option really $100? Also, do they accept US traders?
Hi Irina, yes it is $100 and they don’t take US customers unfortunately. You can try any one of the recommended brokers in the right panel.
Cashing out is quite simple. What you need to do is send them every piece of information they ask for. If its your Driver’s License, a utility bill, or photos of your credit card. Once they have that they have to wire you the money assuming you met your trading requirements. Otherwise they risk losing their license and they are a regulated broker.