Given how new the binary options marketplace is, there are no truly venerable brokerage institutions comparable to those that deal in bonds, stocks, and commodities. However, as binary brokers go, OptionRally is by far one of the oldest and best established. Since the company’s formation in 2010, at the very beginning of the binary trading industry, it has worked consistently with both amateur and professional traders to produce excellent results.
Like most binary options platforms, OptionRally allows traders to select from a diverse list of stocks, indices, commodities, and select Forex currency pairs. As one of the earliest binary options trading platforms, OptionRally was among the first companies to employ this type of asset diversity. While the range of assets has developed over the years, OptionRally currently allows traders to select from more than 60 assets.
OptionRally also offers what is probably the single largest spread in terms of trade expiry times. Trades executed on OptionRally can range anywhere from 60 seconds to 1 month. This is singularly impressive and important for traders who prefer to take long term positions, as many binary options trading platforms cut traders off at maximum expiry times of only a few hours. This wide range of durations allows OptionRally to cater to investors with many different trading styles.
In terms of profit potential, trades made on OptionRally offer a generous return on investment of up to 81%. The platform is also among those that return a portion of an investment even on a losing trade. While this return is small, only 10-15% depending on the trade, it is still significantly better than nothing at all.
The minimum allowable trade on OptionRally’s platform is $5, though this amount is only available on trades of 60 seconds. For any longer trades, a minimum of $12 is required. The maximum trade on any given position is £5000. There is, however, no upper limit on the number of positions a trader may have open at any one time.
OptionRally was the first binary options platform to create a responsive mobile site. The mobile version of the platform is extremely user friendly and simple to navigate. The distinction of being the first mobile binary trading platform also plays a role in OptionRally’s bonus program, as you will see in a later section of this article.
Customer Service and Support
OptionRally employs a trained team of customer service representatives that can be reached 24/7 by phone or email. These representatives are well versed in the company’s workings, its platforms, and binary options trading in general, allowing them to answer even very detailed questions from traders. This customer service is available in a variety of languages, and has dedicated call centers in 13 different countries.
Besides its support staff, OptionRally also gives traders access to a complete learning center that includes useful trading information for traders of all experience levels. Courses, ebooks, webinars, and even live one on one training are frequently offered at no additional cost to anyone with an OptionRally account. These educational resources are updated frequently to keep them fresh and relevant in the current market.
Deposits and Withdrawals
Deposits and withdrawals through the OptionRally platform may be made either via credit card or wire transfer. As a security precaution, OptionRally makes all traders submit identity verification before making their first withdrawal. Deposits require a minimum of £300 or equivalent, while withdrawals require a minimum amount of only £100 or equivalent. If withdrawals are made by wire transfer, a $25 service fee is charged to cover bank fees.
OptionRally offers bonus programs throughout the year that reward traders for reaching certain trade volumes in their accounts. Each time such a bonus program runs, it lasts for a period of one week. During that time, traders earn bonus credits for conducting successful trades. At the end of the week, those credits may be redeemed for a cash deposit into that trader’s account. In addition, because OptionRally holds the distinction of having been the first binary option trading platform to create a mobile site for use on an iPad, the company offers a special deposit promotion. Any trader who deposits £10,000 or more into his or her account will receive a free iPad from OptionRally.
As one of the oldest surviving binary options brokers, OptionRally has a great deal of experience and a solid reputation with its customers. A user friendly platform, diverse assets, and low initial deposit and trading requirements make it an excellent choice for traders who are just starting out. The platform’s impressively wide range of expiry times also makes it appealing to more experienced traders. Overall, OptionRally is one of the best and most trustworthy binary brokers in the industry, and is well worth looking into for anyone who is interested in trading binary options.