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Brokers » PlusOption
- Excellent Customer Support
- A number of accounts to choose from
- Easy to use trading platform
- 100% deposit bonus offered
- Not regulated
- Long withdrawal process
PlusOption is a new and innovative binary options platform
PlusOption has an excellent choice of bonuses that vary depending on the type of account you trade with. Therefore, we gave them a high 95/100. Its software is good, but rather complicated so, it scored 80/100. Customer support is available 24/7 and on a number of channels, so we gave it 85/100 and the number of options one can trade is in the middle in comparison to what other brokers offer, so it got 80/100.
Investors want to diversify money and in the age of technology more and more assets are created in financial markets that brokers quickly include on their trading platforms. Binary options are on the rise and a number of brokers offering them to their customers are growing so fast that it is difficult to count them. Some are simply scamming operators, others are legit. In this review, we are going to carefully scan a rising player in the field PlusOption and see whether it can be trusted and how valuable its services are for both an amateur investor and a hardened pro.
PlusOption was established in 2020 by a number of professional Forex traders and brokers as well as experts in derivatives under the brand name TradePlus Solutions Ltd, which is located in the Republic of Marshall Islands. The company has its base in Romania and to some dissapointment the broker is not regulated by any financial authority. This carries a risk as non-regulated brokers have nobody to look over their shoulders and make them stop if some fraudulent activities are carried out by thm. For the time being, no red flags have been raised and the broker is not regarded as a scam by most traders.
PlusOption has a decent amount of assets (over 100) you can trade with and they can be put into 5 categories: currencies, commodities, indexes, cryptocurrencies and stocks. You can trade the most popular currencies and crosses on their web platform, which is excellent. The choice of commodities isn’t very wide, just Gold, GOLD/EUR, and Silver. The choice for indexes is not very good either; five not very popular indexes can be traded for the time being. However, they have a lot of cryptocurrencies you can trade and that is very good news, as these are getting more popular every single day. Stocks are also instruments that the company cannot boast about as they have just 7 of them at the moment.
Bonuses & VIP programs
Every customer who opens an account with the company gets 100% bonus of the deposit amount. The minimum amount to start with is $250. That is for a basic account or MICRO type and in order to be eligible to withdraw your bonus you will have to trade the volume 30 times of the bonus amount. You will also have one risk-free trade, so if you lose on your first trade you will get the amount back.
If you can afford to trade larger volumes you can open a SILVER account and the minimum deposit for it is $2500. This account holder will be able to enjoy all the features that the basic account has, plus a personal account manager and an extra risk-free trade.
Those that still want to trade more instruments and with larger volumes may apply for a GOLD account. The minimum deposit in order to be eligible for the account is $10,000. The company states that this is the most popular one among their traders. Investors will additionally get a personal analyst and access to webinars, a financial plan and a risk management plan. They will also get 2 more risk -free trades than MICRO account holders get.
The most prestigious of all is the DIAMOND account. In order to get it you will have to deposit 50000$, which is quite a large amount of money. However, as you may assume you will get the most privileges of all the three previous accounts combined. Your withdrawals will be the fastest, payouts the highest and you will be able to participate in VIP events and special ventures organized by the company. Plus you will also get 3 extra risk-free trades.
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Fees, payouts and Trading features
PlusOption does not charge any fees on your trades. As has been stated earlier, the company has different types of accounts and payouts may vary depending on the type of account you have, type of options you trade and the length of expiry.
The company offers a large variety of binary options: LongTerm, 60 seconds, One Touch, ladder, Spot Follow, Pairs. Longer term options tend to have better payouts and lower risk. 81% payout seems to be the top for classic options, but as the company constantly improves payouts depending on your account type, it may be higher, particularly if you trade stocks. For the time being it is slightly lagging behind the industry average.
Minimum deposit is $250 and minimum trade size is $25, which is a bit high in comparison to other brokers. Maximum investment amount on a trade vary depending on the type of options you trade. For Longterm and Pairs the maximum would be $1500 or Euros. For 60 seconds and Ladder it can be $250 or Euros and for One Touch options the maximum amount is $500 or Euros. The maximum deposit has limits for most depositing methods, except for Wire, where there is no maximum amount to be deposited.
Like most binary options brokers PlusOption uses the ever-popular and robust SpotOption trading software. The platform is a bit complicated, but on the whole user friendly. It is quite clear what kind of option is where, how to choose expiry times and how much to invest. All the explanations are there, so even if you are a novice you can place your trades relatively easily. The company mostly uses a web browser platform, so you do not have to download anything. The good thing is that if you do not understand something you can use a demo version which is available without any registration and figure out how it all works.
PlusOption enables any trader to trade on the go, by means of their mobile application. If you have internet connection you can trade, check your balance, deposit and withdraw and it will not cost you a penny to use the app. The app is user friendly, so you should not have any problems understanding what is where and how to use it. You can download the app for iOS from the App Store and if you trade on an Android device you will have to download the application from Google Play.
Deposits and withdrawals
We are glad to see the most popular ways to deposit and withdraw money to and from your account featuring on PlusOption. You can do that by wire transfer, credit and debit cards, most popular eWallets such as: Skrill, Neteller or China Union Pay, Western Union and many more. Minimum deposit is $250, but minimum withdrawal just $50. If your depositing or withdrawal amount exceeds $10000 you will have to use bank wire transfer to do it.
Depending on your account type, processing time my vary from instant to 5-8 business day. Basic account withdrawal takes the longest and Diamond account withdrawal is the fastest.
Customer support is quite a strength of this company. It is professional, fast, efficient and you may use telephone, email or live chat to discuss your problems and issues with them or ask questions regarding any aspect of binary options trading. Live help is available on their website, so you can post any question you want and they will answer it in a matter of seconds. Clients can also send a complaint (if they are not happy about something), which has a procedure that has to be followed.
Extra features and resources
Extra services come in the form of educational materials that abound on their website. You can read articles that vary in topics, which are good for both beginners and advanced traders and new materials are regularly posted on their website. They have the Plus Academy section where you can get acquainted with both theoretical and practical aspects of trading binary options. They also post Market analysis on a daily basis so you can keep up with what is going on the markets, if you cannot or do not want collect analysis on your own.
Having looked through all the features available we come to the conclusion that PlusOption is a reliable broker, which has relatively good services for their customers by means of diversification of accounts, number of options one can trade and excellent customer service. There are a few things that they have to work on and improve, but on the whole, we would recommend their services for both beginners and advanced traders.
How can I submit a complaint?
In case you have any complaints about the functionality of the website you must fill in and send the appropriate form. You can find the Client Complaint Form here, complete it, and send it to [email protected]
Should I install software?
No, Plusoption is a web-based trading platform, meaning you can login to your account and trade on any device that has an internet connection.
I have problems with the registration process. What should I do?
The team at Plusoption are here for you, and are readily available to help! You can contact them by Email, phone, telephone or through the Live Chat button on top of the page.
How secure is trading with PlusOption?
The company do seem to take all the necessary measures to ensure clients utmost security event though they are not regulated. They feature SSL which is secure socket layer security, a level of encryption to protect traders private details.
7 Binary Options
Plusoption has shut down their operations.
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In the following review, we will discuss PlusOption, established as a new binary option broker in 2020 by a group of seasoned financial professionals. PlusOption created an innovative platform which will provide traders with a diverse range of assets and expiry times for the binary options market.
Online since: 2020
– No Demo Account
7 Binary Options Rating:
PlusOption Special features
Although they are relativity new to the world of binary options, PlusOption is up for the challenge. One of their most appealing factors is that their minimum deposit of $250 fits the industry standards. We strongly believe that the broker’s option of three different account types on this platform only proves their level of dedication. They want every type of trader, whether beginner or experienced, indecisive or determined, frequent or casual, to be able to get the most out of their binary trading experience.
PlusOption Mini Account
PlusOption Popular Account
PlusOption Premium Account
In our opinion, PlusOption shows clearly that bigger deposits and more prestigious accounts will offer more benefits for traders, such as signals and bonuses. PlusOption does have very strict bonus rules set in place, such as: before withdrawing the bonus and deposit, the sum must reach a trading volume of x20. They do offer a few different bonuses, however. These include a welcome bonus, 2nd deposit bonus and refer a friend bonus. They also offer some risk-free trades as well.
PlusOption Trading software
PlusOption operates the SpotOption trading platform which is extremely user-friendly. A simple design and classic colors allow even novice traders who are using the platform for the first time to easily navigate through the system. The PlusOption site also provides additional tools for their traders, such as SpotFollow. This feature allows traders to both follow and mimic successful traders. It also educates traders on how to develop more profitable trading strategies.
PlusOption offers a variety of trade options such as: HIgh/Low, 60 Seconds, One Touch, Pairs and Ladders and Long Term. One thing that sets PlusOption apart from the rest is that they also offer Forex trading as well in which traders can experience trading with stocks (17), indices (20), currencies (12) and commodities (7).
PlusOption understands that in today’s fast-paced world, traders spend more time on their tablets and phones than they do in front of a computer so they strive to enhance the performance of mobile trading. They know that traders today have extremely active and busy lives, wanting everything to be accessible in the palm of their hands. As mobile apps are extremely beneficial in the binary trading experience, PlusOption offers an app for Android users. We are hoping the IOS App will follow in the near future.
PlusOption is also available on the Binary Option Robot, which is the most widely used and highest quality trading software available in the binary trading industry. This gives those who are inexperienced, or hesitant, the opportunity to have successful trades right from the start.
PlusOption Support information
At the current time, the PlusOption platform is available in English only. However, we are extremely hopeful that other languages will be available in the near future. During our review of PlusOption, we were happy to discover that there are several different ways to reach their customer support team. Their customer support center can be reached online via an contact form, email or LiveChat, which we feel is the quickest and most convenient for those users who need have pertinent questions. They are can be also reached via telephone for those who prefer the more personal touch.
Also while conducting our PlusOption review, we established that they offer a variety of informative learning materials that we are sure many traders will find extremely useful. There is an amazing Academy section which not only offers videos and articles on binary trading from a variety of different perspectives, but also a very thorough FAQ section as well. For anyone new to a website, the FAQ section is the best place to start. Their FAQ section is divided into three different parts: general trading questions, account specific questions and an additional section solely on the trading platform. They also offer a glossary which defines all of the basic, as well as the most important, binary trading jargon.
The one negative is that we found no demo account mentioned on their website.
PlusOption Banking and company information
PlusOption is backed by Tradeplus Solutions Ltd., located in Marshall Islands. The 7BinaryOption review confirms that they offer an outstanding selection of payment methods which is unique as compare to other binary brokers in the industry. Traders can select from the following payment forms; Visa, MasterCard, WebMoney, Qiwi, bank transfer, Bitcoin and Skrill. The minimum deposit a PlusOption account is $250, while the minimum withdrawal is $50. The broker warns traders that only those withdrawals over $100 can be done via bank transfer and any deposit exceeding $10,000 can only be completed via bank wire. Since there are no fees listed anywhere on the site, make sure to confirm with customer service about any hidden fees.
One of the best features of PlusOption is that they enable traders to instantly withdraw through use of fast e-wallets. For bank wires or credit cards, however, it takes up for the funds to transfer to the account, taking into mind that transfer times vary.
We feel that PlusOption is a viable binary options platform. Both the website and the platform are user friendly and offer a great selection of extremely useful resources. Their customer and technical support are professional, knowledge and friendly. We strongly recommend PlusOption as a reliable trading platform for both new and experienced traders alike.
Customer Service: Live Chat / Email: [email protected]
7 Binary Options review: PlusOption : 4,5 stars.
PlusOption is a broker with an excellent platform and a good choice of options
New financial instruments are created in the financial markets every year. Trading Binary options is still a new way to invest, but there are already hundreds of brokers offering their services to investors. How do we determine which broker can be trusted and which one should be avoided altogether? There are a number of things to carefully look at and that is exactly what we are going to do with the PlusOption binary broker, over the course of this review. Note that PlusOption is a relatively new player in a field of high competition and scam brokers and a lack of transparency. Is PlusOption one of those or a reliable broker? Let’s find out now.
The company was founded in 2020 and it is owned by a parent company TradePlus Solutions Ltd, registered in the Republic of Marshall Islands. They currently have their headquarters in Bucharest, Romania under adress: 17 Baba Novac Str, Bl. G13, 2nd Entrance, Ground Floor, Suite 45, District 3.As of now, the broker does not have a license as it is not regulated by any financial authority -which is a disadvantage, but it is highly likely that in the near future they will choose to be regulated by one of the European financial authorities and increase their reliability substantially. We have not found many complaints about any scams or the defrauding of customers on the internet, so we assume that within 2 years of existence the broker has managed to gain a more positive image than a negative one.
The company offers a decent amount of assets which you can trade. Currently there are are five groups of them and the total number of instruments in all of the groups exceeds 150. It is not a huge amount, but still the number is slightly above what most binary brokers will offer you.
At the moment PlusOption offers 24 currency pairs for you to trade. The number is not big, but you will surely find most popular currencies such as EUR/USD, GBP/USD or most traded crosses such as EUR/JPY or GBP/JPY in the list. When you open their demo platform you can look through all of the pairs and see whether they have what you want.
If you want to trade commodities, the list with the broker is rather short. There are just 3 of them: Gold, GOLD/EUR and Silver. They may include Oil in the future to expand their choice as they are surely lagging behind most brokers in the area.
The list of indices is pretty long. At the moment they have 19 you can choose from. So, you can easily trade DOW or FTSE and the other most popular ones. It is slightly better than most brokers offer (from 8 to 15). There are over fifty of them and they have some of the most popular names you can trade such as YAHOO or IBM or MICROSOFT. Again, that is not a lot, but as a lot of brokers do not have any stocks to offer their clients, the number is satisfactory.
The number of currencies exceeds 20 and that is excellent as these instruments are very in demand right now, which means PlusOption might be a leader in the field.
Bonuses and VIP programs
PlusOption has one of the best bonus program we have ever seen. It is progressive and depends on the amount of money you deposit on your account. The minimum amount is $250. Every customer will be able to get 100% bonus money of his deposit amount. So, if you deposit $250, you will get the same amount as a bonus. You will have to trade the amount 30 times before you can withdraw it and the profits from that. Depending on the type of account you choose you may get extra risk free trade, which means that if you lose your first trade the amount will be returned to you. What are the other available bonuses?
MICRO account. The minimum deposit is $250 and along with your 100% bonus and a risk free trade you will also get trading alerts for free.
SILVER account. The minimum deposit here is $2500 and with the 100% deposit bonus and other benefits that MICRO account gets you will have an introduction to a personal account manager.
GOLD account. The minimum deposit with this account is $10000. You will get 100% of your deposit amount, plus everything the SILVER account gets, plus a Financial plan, Risk management plan and a personal analyst as well as webinars for free.
DIAMOND account. This is the VIP account and you will have to deposit $50 000 in order to access it and all of its bonuses and benefits. With this account, you will have all the benefits that the GOLD account holder has, plus very fast withdrawals, all tier trade rooms, invitations to VIP events, the highest payouts and a lot of other useful things.
Fees, payouts and Trading features
As most binary options brokers PlusOption does not have any hidden fees and does not charge any commissions on any of your trades or positions and you do not have to pay anything for using their software.
Payouts may vary depending on the type of account you have. We have already seen that DIAMOND account holders can expect to get higher payouts than the rest. However, on average maximum payouts tend to be 81%. On average, the payouts will be lower and will depend on the type of option you choose to trade, the asset, expiry time and a few more things. The payouts are determined before you open a trade.
As mentioned earlier, the minimum deposit amount with the broker is $250 and the minimum trade size is $25. It is rather a large amount, as most brokers will offer $10, $5 or even $1 minimum trades. Maximum trade sizes vary depending on the type of option you choose to trade. One Touch options will have the lowest maximum amount, which is $500 and LongTerm with Pairs will have the highest maximum amount, which would be $1500 per position.
We have to say that PlusOption offers one of the biggest variety of options types and that should suit different traders, their trading strategies and styles as well as tastes. The company offers these options:
1 Long term – options that have longer expiry times, from 2 to 7 days
2. 60 seconds – short term options from 30 to 300 seconds
3 . One touch – you bet whether the price reach certain level or not
4 . Ladder – multiple directional options good for trend trading
5. Spot follow – Possibility to copy the most successful traders
6. Pairs – Betting on which asset out of two will do better
We are convinced that trading features with the broker are quite good as you have a large choice of options to choose from. Even if you are not much of a trader, you can follow the successful ones and earn passive income as a result.
PlusOption uses the SpotOption trading platform and it is a very good one. You can use a demo version of their platform to familiarize yourself with it, before you start trading a real money account. Basically, everything is in one window: option types, assets, expiry time, amount you want to trade and the amount you want to risk. You then press ‘Call’ or ‘Put’ or other button depending on the type of option, then ‘Accept’ if you want to complete your trade or ‘Cancel’ if you want to change something. And that’s it! It is a good feature that you do not have to download any program to trade. Everything can be done right on your browser, so we can state the platform is very easy to use.
In the age of ever changing mobile devices it is a must for brokers to have their platforms adapted to mobile devices. Some brokers have it, some not. PlusOption has upgraded their platform for usage on both iOS and Android devices, so if you are not at your pc and worry that you can miss a trade, don’t, because you can trade wherever you are using your mobile. You simply have to download iOS from Apple store or if you use Android device you should download their app from Google Play and you are ready to trade straight from your mobile device. Excellent!
Deposits and withdrawals
PlusOption has a lot of ways you can deposit money on your real money account and a lot of ways to withdraw it. You should remember that the minimum amount for deposits is $250 and the minimum withdrawal amount is $100. You can deposit and withdraw using debit/credit card, bank transfer, Western Union, most popular e-wallets (Neteller, Skrill, Webmoney and etc.)
Amounts that exceed $10 000 should be deposited and withdrawn using only Bank transfer. No fees will apply if you deposit/withdraw by debit/credit card. Other methods may involve some fees and you need to contact support team to find out what fees apply for other methods.
The last thing to remember is that withdrawal times will depend on the type of your account. VIP accounts get the priority and will typically have money within one business day and for MICRO accounts it may take from 5 to 8 business days before money reaches your account.
We were quite happy to see that the broker provides a lot of ways for their customers to get support. You can contact them by email, call them and the best, of course, by using live chat. They will answer you quite quickly and handle your issues in a professional manner. If you happen to have a complaint, you can send one following a specific procedure they have described on their website.
Extra features and resources
PlusOption has quite an impressive educational base for their customers and anyone coming to their website. There are some articles which will introduce you to certain aspects of trading binary options. They also have a ‘Plus Academy’ section where you will find a lot of useful videos with daily market analysis, technical commentaries, market recaps and interpretation of various financial news. They also have a special section for beginner where elementary concepts and strategies are explained. Eventually there are also materials for advanced and expert traders. So, at whatever stage you are, you can always find something useful there.
Having looked through all the most important aspects that help to define whether a broker is legit or a scam we conclude that PlusOption is not a scam broker, but a trustworthy one and we would recommend it for both novice traders and pros.
What is the procedure of submitting complaints?
If you are unhappy about any aspect of PlusOption services you need to fill in a form and send it to sompany‘s support team.
Do I have to download and install any software to be able to trade?
No, you don‘t. You can login to any device of your choice and trade it from there. Just be sure you have internet!
What is the maximum amount for a specific trade?
That depends on the type of option you choose. Long term and Pairs have a cap of $1500 and 60 seconds with Ladder will have $250 limit. When you open a specific option type on your platform you will see the maximum possible amount you can fill in.
Do you have a registration fee?
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