CloseOption vs World Forex

CloseOption or World Forex – which is better for UK traders 2024? Compare CloseOption and World Forex in this detailed breakdown of their platforms, features and fees.

CloseOption vs World Forex Comparison Table 2024
CloseOption World Forex
rating empty
rating full
3.8
rating empty
rating full
4
CloseOption is ranked #3 among binary options brokers. World Forex is ranked #10 among binary options brokers.
Review
Review
CloseOption is a Georgia-headquartered broker with over a decade in the trading industry. The brand offers high/low binary options trading on forex and crypto markets, with decent payouts, welcome bonuses, 24/7 customer support and intuitive trading software. World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
Pros
  • New traders can get started with a $5 minimum deposit
  • CloseOption offers weekly trading tournaments with cash prizes
  • The user-friendly platform is compatible with most web browsers
  • Multiple global payment methods are available
  • Free demo account
  • A wide range of assets to trade, including via digital contracts
  • Several different account types with varied pricing structures
  • MT4, MT5 and a proprietary trading terminal
  • Swap-free account available
  • 10+ accepted payment methods
  • Low deposit of $1
  • Copy trading solution
  • Educational content
  • STP/ECN technology
  • Demo account
  • VPS hosting
Cons
  • Clients need to deposit $50,000+ to qualify for the best payouts
  • CloseOption is not regulated by a well-regarded trading authority
  • Binary options are only available on fiat and digital currencies
  • Weak regulation
  • Withdrawal fees apply
  • No negative balance protection
FCA Regulated
No

List of FCA Regulated Brokers

No

List of FCA Regulated Brokers

Instruments
Binary Options on Forex & Cryptos Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts
Demo Account
Yes Yes
Minimum Deposit
$5 $1
Payment Methods
Minimum Trade
$1 0.01 Lots
Regulator
National Bank of Georgia SVGFSA
Mobile Apps
iOS & Android iOS, Android + Web Browser
Trading App

CloseOption’s TradeRoom stands out as a fantastic option for beginners, with its streamlined design minimizing the learning curve. It’s super easy to place short-term trades from 5 seconds with basic charting tools at your disposal. Tutorials and frequent updates with video demonstrations also enhance the experience, while weekly contests are available to skilled traders on the go.

The WorldForex Trader Lite app offers very basic mobile trading capabilities. It took upwards of 30+ minutes just to get access to the trading app, with a frustrating process to open an account. The mobile interface itself has a subpar look and feel, encompassing basic charts and order windows. The other issue is that it’s slow and sometimes lags when you move between features and place trades. Ultimately, it trails category leaders.
iOS App Rating
rating empty
rating full
3.7
rating empty
rating full
1.3
Android App Rating
rating empty
rating full
3.5
rating empty
rating full
1.3
Margin Trading
No Yes
MetaTrader 4
No Yes
MetaTrader 5
No Yes
cTrader
No No
AlgoTrader
No No
OmniTrader
No No
TradingView
No No
Autochartist
No No
eSignal
No No
Trading Central
No No
STP Account
No Yes
ECN Account
No Yes
DMA Account
No No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
No No
Market Maker
No No
P2P Trading
No No
Spot Trading
No Yes
Auto Trading
Yes
Copy Trading
No Yes
Copy Trading Platform
Use copy trading signals on MT4 to replicate strategies in your own live account. No additional fees apply and the platform is available via downloadable software plus a web-accessible solution.
Social Trading
No No
Trade Signals
Yes
VPS Hosting
No Yes
Tournaments
No Yes
Demo Competitions
Yes Yes
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
0.5%
Islamic Account
No Yes
Account Currencies
  • USD
  • USD
  • EUR
  • RUB
Commodities
  • Gold
  • Silver
  • Platinum
  • Palladium
  • Oil
CFD
World Forex's leveraged CFDs are available on a modest suite of 100+ instruments, including stocks, commodities and forex. Very high leverage up to 1:1000 is available for account balances up to $1000, with lower levels available to accounts with higher balances.
Leverage
1:1000
FTSE Spread
NA
GBPUSD Spread<
NA
Oil Spread
NA
Stocks Spread
From 0.03
Forex
CloseOption offers binaries on 25+ forex pairs, including majors like EUR/USD and a few minors like AUD/JPY. Payouts vary by currency, with decent typical payouts of 75% for GBP/USD. World Forex offers CFD and digital contract trading on 53 forex pairs, including EUR/USD and GBP/EUR. High leverage is available for CFDs, which can be accessed with competitive spreads on certain account types.
Assets
20+ 53
GBPUSD Spread
No fee - payouts approx. 80% (Copper) From 0.6
EURUSD Spread
No fee - payouts approx. 80% (Copper) From 0.6
EURGBP Spread
No fee - payouts approx. 80% (Copper) From 0.6
Cryptocurrency
CloseOption traders can access high/low binary options on five major cryptos all paired with USD. Payouts of 40% are available due to digital assets' high market volatility, which compares well with rivals. Traders can access CFDs on crypto assets through World Forex's dedicated W-CRYPTO accounts, which offer leveraged cryptocurrency trading with spreads from zero. We rate that you can trade on 10 cryptos paired with the USD and EUR, while crypto-crypto pairs are also available.
Spread
No fee - payouts approx. 40% (Copper) 0
Coins
  • BTC
  • BCH
  • ETH
  • LTC
  • XBT
  • BTC
  • DSH
  • LTC
  • ETH
  • ZEC
  • XRP
  • BCH
  • XMR
  • EOS
  • NEO
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
Binary Options
CloseOption offers binary options trading on 30+ fiat and digital currencies through an easy-to-use web-based platform. 15 contract timeframes are available from 30 seconds to 1 month, suiting both short-term and long-term traders. New users also get a joining gift. World Forex offers binary options where you simply decide the stake, price direction and contract timeframe. The payouts are high at up to 100% on American contracts and 85% on European, which also offers a partial refund to traders who close contracts before expiry.
Payout
95% 100%
Expiration Times
30 seconds - 1 month 1 minute - 7 days
Boundary Options
No No
Ladder Options
No No
CloseOption World Forex
Review
Review
More Comparisons
CloseOption
vs

 World Forex
vs