AskOption Broker Review

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ASKoption Review

Overview

ASKoption’s key mission is to give investors the opportunity to invest their capital in binary options through our trading platform, regardless of their geographical location and level of experience.

Details

Broker ASKoption
Website URL www.askoption.com
Founded 2020
Free Demo Account
US Traders Allowed
Mobile Trading
Tablet Trading
Overall Score 8.1/10

Full Review

Features

Traders have the option to trade binary options for 30 seconds, 60 seconds, 2 minutes, 5 minutes and 10 minutes. The trading platform is available in English and Arabic, and these are also languages of their customer service. The minimum deposit to open a new account is $ 250, while the minimum transaction amount is $ 5.

• Trading software: This broker uses a Panda TS platform, which is quite popular among the binary options brokers. Easy to use and well designed, an overview of its interface can be found on the website. In addition to assisting traders to make transactions, the platform allows you to copy trades of other successful traders, and users can also create their own, through the use of Option Builder. The mobile trading application, which runs on Android and iOS devices, was designed to facilitate trade in motion. Traders can get free mobile app in the store Play Google or Apple App Store.
• Trading Tools and resources: There are various options at AskOption site, which have been designed for comfortable trading. Some of these include a separate section to financial news that informs traders about what is happening in global financial markets, also the traders can gain access to the market analysis and daily reviews. Traders can also improve their trading skills through education option which is a series of educational materials, such as risk management tools, trading strategy, trading tutorials, training videos and e-books. In addition, traders will find a glossary, financial calendars, plus a very extensive FAQ.

• Bonus conditions: When it comes to bonus payments, traders must first clearly understand the conditions before they take any bonuses. To withdraw the bonus amount or any profits if the bonus was involved in it, you have to make a deal with the trading volume of 30 times times the bonus amount. This means that if, for example, you are offered a bonus of $ 100, you have to place trades for a total amount equal to or above $ 3000 before it will be possible to draw a conclusion.

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Deposits and withdrawal

Traders at AskOption can deposit funds into their trading accounts via bank transfer or credit / debit card.
The minimum deposit amount at AskOption set at $ 250.
Traders can deposit money in the form of USD, GBP, EUR, CAD, and AUD. The maximum deposit amount is set at $ 20 000 for a credit / debit card, but there are no restrictions for the bank transfer.
You can invest a minimum of $ 5, while the maximum limit is set at $ 500 for Hyper options and $ 5,000 for other types of options.
Currently the minimum withdrawal amount is set at $ 30 for a credit card, with a maximum of $ 20,000 minimum for wire transfer is $ 100 and has no restrictions.

Conclusion

Expecting that AskOption and its trading platform will do the job for you would be a great folly. This broker has no complaints in terms of technical equipment and support, as the system will help you to predict the course of trade, and extensive training base will help you to achieve this. As one of the leading binary options brokers in the world, AskOption, has many specific and unique features and bonuses. Online traders can use them effectively. The AskOption platform meets the highest standards of reliability and security of personal data. All of this leaves no doubt that AskOption considered as one of the finest brokers in today’s market of binary options.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker!
    Perfect Choice For Beginners and Middle-Level Traders!
    Free Demo Account! Free Education!

  • Binomo
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    Honest broker!

AskOption Review

AskOption

Broker AskOption
US Traders Accepted
Company Name PeakMedia Group Ltd.
Headquarters London, UK
Regulation No
Bonus Type Match bonus
Bonus Size 100%
Max Payout 85%
Out-of-Money Reward 10%
Trading Platform Panda Trading System
Early Closure
Deposit Options Credit/debit card, wire transfer
Deposit Currencies US dollar, euro, British pound, Australian dollar
Minimum Deposit $250
Minimum Trade $5
Maximum Trade $5,000
Online Since 2020
Trading Instruments Currencies, commodities, stocks, indices
Number of Trading Instruments 68
Binary Option Types High/Low, One Touch, Range, Hyper
Customer Support Types Email, paper mail, live chat, web form, telephone
Education Offered Live training sessions, eBook, videos, FAQ, glossary, how-to pages
Tools Offered Copy trading (automated), risk-free trades, market reviews, alerts, double up, early close, rollover
Commission $30 fee for wire transfers, $30 minimum for credit/debit withdrawals, $100 minimum for wire transfer withdrawals
Languages English, Arabic, Russian
Demo Account No

Traders in the USA and elsewhere around the world in search of a quality binary options broker may wish to consider AskOption. AskOption is owned by the London-based company PeakMedia Group Ltd. While I cannot give AskOption a perfect vote of confidence, it does seem to have gone right where many other brokers go wrong. The quality of the website and the transparency of the information is top notch. Let’s take a closer look.

Opening an AskOption Account

If you are interested in trading on AskOption, it takes only moments to register. You will notice there are no questions about region when you sign up. This site is open to traders from everywhere, including the USA. USA traders do not have an abundance of good sites to trade on, so this one makes a short list that are worth considering. AskOption is unregulated at this time.

You may make your initial deposit ($250 minimum) via wire transfer or credit or debit card. While the site mentions US dollar, euro, British pound, Australian dollar, and Canadian dollar in the FAQ, Canadian dollar does not seem to be available yet.

Six account tiers are offered:

  • Basic: $250 minimum deposit
  • Mini $500 minimum deposit
  • Standard: $1,000 minimum deposit
  • Premium $5,000 minimum deposit
  • Ultra: $15,000 minimum deposit
  • VIP: $50,000+

At each level there is a match bonus, starting at 20% at the Basic level and increasing to 100% at the VIP level. Each account tier includes progressively more risk-free trades as an additional bonus, which is awesome. A demo account would be better of course, but unfortunately AskOption still does not offer one. Many brokers make you choose between a bonus and risk-free trades; AskOption gives you both.

Additional features which become available at the upper tiers include live training sessions (which actually start at the Mini level and increase as you move up the tiers), daily market reviews, trade alerts (Premium and above), an eBook (every level), advanced strategies (Premium and above), risk management (top levels), and rewards at the top level. The rewards include gadgets, airline tickets, and so forth. You also get expedited withdrawals at the Standard level and above.

This is a good array of features all around, though I do notice that this broker seems geared at traders with larger accounts. Many features only become available at $5,000 and higher. This includes features like alerts which are available at lower levels on many other sites. Still, this is not a major complaint. The reality is, most traders should deposit more than $250 to trade. It is really hard to profit with such a small bankroll.

Terms for Withdrawals

Withdrawal terms are quite friendly. There is a $30 fee for wire transfers (typical), but no fees at all for credit and debit card withdrawals. On top of that, only a $30 withdrawal minimum applies if you are withdrawing using your credit card. Contrast that with the $100 withdrawal minimum which is typical on most binary sites. AskOption keeps your money accessible.

Trading on AskOption

On AskOption, you trade using the Panda Trading System (Panda TS) platform. Panda TS is not the most popular platform out there, but it is rising swiftly in popularity. Like SpotOption, it is a simple interface which is easy to use.

There are 68 trading instruments on the site, including currencies, commodities, stocks, and indices. Types of options include High/Low, One Touch, Range and Hyper (short-term trades). I laud the inclusion of Range trading, which is all-too-lacking on most binary options sites! The minimum trade size is just $5, and the maximum is $5,000. This is a wider range of investment sizes than you will find on a lot of other sites, so AskOption is great for large and small bankrolls.

On AskOption, you can control your trading using rollover, double up, and early close. This is excellent, as it makes it much easier to succeed with systems which may require you to adjust your exit against the expiry time.

One interesting feature on AskOption is the copy trading which is offered. Copy trading is becoming quite common across the board with binary options sites, but oftentimes it is a manual system where you need to copy the trades yourself.

With AskOption’s follow trading, you can input a set of criteria and then set the system on autopilot. You can for example select a trader you want to copy, pick an investment amount, and a maximum limit. You can then sit back and let the program trade for you. Your trades will mimic the selected trader’s investments. This is quite easy and convenient, and may offer you a few nice shortcuts now and again. Ultimately of course you should still learn how to trade yourself.

AWOL Customer Service

One of the few real drawbacks with AskOption (aside from the nonexistent demo account) is the fact that customer service seems difficult to reach. Supposedly there is service 24/7, but the live chat desk was unstaffed when I checked. This does not necessarily mean that customer service is unreachable, but I feel that a broker should not advertise 24/7 availability unless they are really there 24/7.

Worth Thinking About If You Are in the USA

Despite these flaws, AskOption has a lot of good things going on. The website is nicely designed, easy to navigate, and loaded with information. The Panda TS platform is nice, and there are a number of different trade types offered, including Range trading. Plenty of features are available to help you control your trading, and the follow trading feature being automated is pretty cool.

If you do decide you are interested in trading on AskOption, I would suggest that you talk to customer service first, just to evaluate the team. Make sure that this is a company that you will feel comfortable working with. If you do, you can place a deposit and start trading. Definitely make sure that you take the time to demo test somewhere else, though; you should never start trading live with real money without practicing first!

AskOption , 1.0 out of 10 based on 1 rating

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker!
    Perfect Choice For Beginners and Middle-Level Traders!
    Free Demo Account! Free Education!

  • Binomo
    Binomo

    Honest broker!

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