Editor’s Verdict
Overview
Review
Headquarters | Cyprus |
|---|---|
Regulators | CySEC |
Year Established | 2012 |
Execution Type(s) | Binary Options |
Minimum Deposit | $100 |
Islamic Account | |
Signals | |
US Persons Accepted? | |
Managed Accounts |
TopOption, domiciled in Nicosia, Cyprus is operated by Nuntius Brokerage & Investment Services S.A., a Financial Services Company authorized and regulated by the Hellenic Capital Market Commission (HCMC) under license number 7/481/30.7.2008.The website is available in English, Arabic, Spanish, French, Italian, German, Japanese, Polish, Czech, Russian, Swedish, Chinese, Portuguese, Dutch, Bulgarian, Romanian, Lithuanian Slovak, Norwegian and Hungarian.
Accounts
There are three accounts to choose from at TopOption. A minimum deposit of $100 is required to open the Starter account and traders receive up to $250 as a welcome bonus. $1000 is needed to open the Pro account and a welcome bonus of up to $250 is awarded with this deposit. The VIP account can be opened by anyone making a deposit of $5000.This comes with a bonus of $2500.
TopOption Account Types
There are no fees or commissions for any of these accounts and all three are accompanied by various hours of 1-on-1 training, eBooks, personal account managers and many other benefits. Off-hours assistance is available for holders of the VIP account. They are also entitled to receive the Trading Central Report and SMS signals. Off-hours trading assistance is also available regardless of account type.
The minimum investment required to open a trade is $5. Depending on the types of trades, the payout ratio at TopOption can go as high as 500%. However, the average ratio is around 85%.
Features
Registering for an account is easy and account holders receive all the training they need to understand the financial markets, including eBooks, videos, seminars, and 1-on-1 coaching.
Trading can be done in three easy steps: Choosing an asset, making a prediction that the asset of choice will go up (buy/call) or down (sell/put) and deciding how much to invest. Another click places the trade.
TopOption offers an extensive selection of expiry options that meet the needs of every type of trader. Traders can trade from a broad selection of 180 tradable assets, including currencies, stocks, commodities and indices. Gold and silver are included in the list of trading choices.
The trading platform at TopOption is a proprietary one and it can be accessed either through the web without any downloading required or from mobile devices such as the iPhone or the Android smartphone devices. More features for mobile use are set to be introduced shortly.
Bonuses and Promotions
At the time of this TopOption review, the broker was offering a 50% welcome bonus for anyone depositing $200 or more. For a minimum of $500, TopOption was awarding a 100% bonus.
A constant promotion is the TopOption Refer-a-friend campaign, where anyone referring a friend receives up to $350 depending on how much is initially deposited.
Education
The TopOption Academy provides a wealth of resources designed both for beginners and experienced traders. Traders can learn about the world of binary options and review the fundamentals or study more sophisticated trading techniques through a variety of videos, e-books and live webinars.
The TopOption Resource Center is a comprehensive, multi-language research and education hub, geared to meet the needs of both new and veteran traders.
At the TopOption newsroom, traders can read the latest breaking business news, view the daily and weekly markets reports and scan the economic events calendar for future market events and their potential impact on their positions.
Traders can choose to trade from a long list of assets on various global markets. Since each of these markets is open for a different period in a 24 hour cycle, awareness of the different exchanges and the hours they are open are crucial for traders in assessing a news item for its market significance. TopOption assists traders in this regard with their Global Market Hours section where traders can view the time zone governing each market before placing a trade.
TopOption also supplies account holders with market indicators issued on a regular basis which help them determine the strength of an economy and help them to predict the way the market will move. Some market indicators, such as the GDP (Gross Domestic Product), relate to the entire economy, while other indicators, such as Retail, or Home Sales relate specifically to a particular market sector.
Mobile App
TopOption recently took the technology that made them one of the most popular web-based brokers and packaged it into a dynamic, cutting-edge app. The app is available for both iOS and Android mobile devices, and is really easy to navigate, study assets, and trade from. Now, whenever you get an SMS updating you about an opportunity or major market movement, you can just pull out your phone, view the asset for yourself, and input your trade on the spot! And, your mobile account is the same as your web account, so you won’t need to manage the two separately, whether you’re trading from your computer or smartphone.
TopOption Mobile Trading
Deposits/Withdrawals
Deposits to TopOption accounts can be made with credit cards, bank transfers and via Webmoney. Withdrawals are made by filling out an online form. These transactions can take up to seven days but are usually much quicker.
There are no deposit or withdrawal fees.
Customer Support
Customer Support Methods |   |
|---|---|
Support Hours | 24/5 |
Website Languages |               |
Traders can contact a TopOption representative 24/5 via email, by telephone in a number of languages and through Chat. Local representatives are available in over 20 different locations throughout the world.
Conclusion
TopOption offers everything a binary options trader is looking for. There is a choice of several accounts, a list of over 180 assets and a selection of various binary options. The TopOption Academy is full of educational material to help both beginners and experienced traders to a profitable trading experience and there are more than enough bells and whistles to draw even the most discerning of binary traders. The website which is offered in over 20 languages is easy user friendly and easy to navigate. I was disappointed to find that there is no demo account available as this is a useful tool for traders just starting out in the binary option world.
Features
When it comes to features, TopOption is really at the top. With a choice of different accounts, 180 assets to trade, a host of educational material and a user-friendly website, TopOption has everything a binary options trader needs in order to have an enjoyable trading experience. In addition, not many brokers offer their websites and customer support in 20 languages but with TopOption offices scattered all over the world, this is definitely a beneficial feature. In fact, customer support representatives can be reached 24/5 by toll free and local telephones.
Trading Platform
Automated Trading | |
|---|---|
Guaranteed Stop Loss | |
Scalping | |
Hedging | |
OCO Orders | |
Interest on Margin |
Platforms
TopOption has a terrific, state-of-the-art platform which makes trading very straightforward and user-friendly. Trading really is as simple as their 3-step sidebar tutorial suggests. For example, choose the AUD/USD pair and you will immediately notice how long you have before the option expires and the time you have left to place a position. A graph shows you the instrument’s recent trends, while other traders’ sentiments are also viewable. You can press the Buy/Call button (green) if you believe the pair will rise, or the Sell/Put button (red) if you believe the pair’s price will fall. Once you’ve made your choice, you input your investment amount and press the Apply button. Voila! You’ve got a binary trade in place.
TopOption Trading Platform
Besides for the classic binary options trade (described above), TopOption also gives you the option to trade with Speed Master, One Touch, Touch/No Touch, and Pro Option.
A couple of the more interesting options are the Pro Option tool and the Speed Master 60 Second Trade. Pro Option offers a great deal of flexibility for binary traders who can use special built-in tools to help them sharpen their strategy and strengthen their skills. Pro Option’s innovative features include Rollover, Double Up, and Buy Me Out. With the Rollover option, you can delay a trade’s expiry to better your chances of a positive outcome. With the Double Up, your anticipated positive outcome can be improved by doubling your initial investment under identical parameters. A trader can also opt out of their open trade with the Buy Me Out tool, for a trade which is not performing to expectations.
TopOption Pro Option
One of very popular tools is the 60-Second Trade, which allows traders to predict how an asset will perform in a short, one-minute period of time. It’s not for everyone, because it’s difficult for beginners to judge the market accurately for such a short time increment, but once you get experience trading, it’s a fun, high risk-high reward option that many traders like, but that not many brokers provide.