As binary options have become more and more popular, many different types of them have developed. With turbo, touch, one touch, and many other types of options entering into the market, innovative brokerage services have moved to embrace these new option types. One such brokerage service is 500option, one of the fastest growing binary brokers today. 500option has effectively integrated many new styles of binary options, as well as traditional options, into a user friendly trading platform. This review will take a critical look at the platform, underlying assets, customer service and other features of 500option to help traders make an informed decision about using this brokerage service.
500option uses a very simple and user friendly trading platform. In order to execute a trade, a traders has only to select the underlying asset, select an expiry hour, enter a trading amount, select Call or Put and select the type of options trade to be executed. When selecting the option type, traders can choose from traditional binary options, one touch options, 60 second (turbo) options or ladder trades. In addition, long term binary options with expiry times of up to a year are available. The platform also hosts Forex ad CFD trading, allowing traders who prefer binary options but also appreciate a diversified portfolio to handle all of their trades in one place.
500option offers a list of over 90 underlying assets for traders to choose from, making it very simple to exploit emerging trends in various markets. Of course, like all binary options brokers, 500option offers a high rate of return on investment. However, unlike some brokers, it does not make binary options an all or nothing investment. Instead, 10% of the capital invested is returned to a trader whose option has finished out of the money. With a minimum trade amount of only £25, 500option also makes itself quite accessible to traders who are not yet ready to put a large amount of capital into binary options.
One of the convenient features of the 500option platform is that it is entirely browser based. This means that there are no software downloads necessary to begin trading. Of course, the platform is also available in mobile versions for both iOS and Android operating systems. These mobile options allow investors to execute trades from practically anywhere in the world.
500option provides around the clock customer support to the traders who choose to invest their money through its platform. Customer service may be reached by email, phone, live website chat, or Skype chat at any time. For simple inquiries about the platform and how trading on 500option works, a fairly comprehensive FAQ section is also available. Most common questions may be answered by consulting this helpful resource.
In addition to customer service and an FAQ section designed for troubleshooting, 500option provides an impressive host of educational resources in its Education Center. Topics covered in these various tutorials range from basic trading to market analysis to keeping emotional swings from affecting your trading decisions. These resources are especially useful for new or intermediate traders, as they are designed to help them take their trading careers to the next level.
Deposits and Withdrawals
Deposits and withdrawals to and from a 500option trading account may be made via credit card or bank wire transfer. A minimum deposit of £250 is required for credit card transactions, with a £500 minimum required for wire transfers. Fortunately, no such minimum requirement is placed on withdrawals. In order for a withdrawal to be made, traders must go through a one time identity verification process. After this, funds may be withdrawn from the trading account at any time.
500option’s bonus program is largely based around the concept of moving up to new levels of trading. Of course, a welcome bonus is credited to a new trader’s account when he or she first signs up and makes the initial minimum deposit of £250. A trader who does this is trading with what is known on 500option as a Micro account. Silver, Gold, and VIP trading levels can be reached traders execute successful trades and increase the capital volume in their trading accounts. Each one of these levels comes with a cash bonus, as well as market analysis and trading incentives. This system makes becoming a successful trader all the more appealing to those who are just starting out.
Overall, 500option is an excellent choice for most traders interested in binary options. A wide range of innovative option styles makes it a very versatile broker. In addition, the ability to trade Forex and binary options in one place is very convenient, as it allows for greater diversification of assets. A simple platform, low trading requirements, and a first rate set of educational resources make it an ideal brokerage for first time binary options traders. However, even more experienced traders are likely to appreciate the varied trading styles that 500option supports.