|Headquarters||nvision House, HITCHIN, Herfordshire Herfordshire SG4 0TW United Kingdom|
|Support Types||Newsletter, Phone, Chat, Email|
|Languages||Arabic, Chinese, Danish, English, French,|
|Minimum Trade Amount||10|
|Free Demo Account||Yes|
|Number of Assets||100+|
|Types of Assets||Binary, pairs, long term, 60 sec, one touch, ladder, FX/CFD and Spot follow|
|Option Types||Binary options (High/Low) , Short term (60) , One touch , Boundary|
|US Traders Allowed||No|
Of all binary options brokers out there, WMoption has to be one of the most interesting we have encountered thus far. Owned by a company with an HQ in Bulgaria but registered in the Marshall Islands, the first impression was not exactly a favorable one, but boy did we get misled! This is, without a doubt, one of the best brokers in the industry today.
Should I Open The WMoptions Account?
Ever since these guys got founded, they have enjoyed a reputation about a broker that really cares about their clients. Then again, they haven’t been around that long as they are what you’d call a late bloomer. Having been founded in 2015, they had to fight hard for each and every client they now have. Back in the day, new traders were dime a dozen, but nowadays the only way for a broker to get a client is to snatch them from someone else. Just because they don’t play nice with other brokers, however, that does not mean they aren’t going to treat you right. Quite the contrary, they sort of have to if they mean to survive in this business. You should definitely exploit that.
They use a TraderSoft platform, which is unusual but still pretty good. Everything is where it should be so it is fairly easy to navigate and use, even if you lack experience with this kind of thing. Arguably their single finest feature was when they introduced the advanced charting feature. This technical approach definitely set them aside from most of the industry. Of course, this works best on candlestick charts, so they have been introduced as well, but you still have to select it in the appropriate menu. Other features include a Strategy Advisor as well as the possibility to trade forex on the side. Social trading is yet another cool feature that we would be reminiscent to skip. Your Strategy Advisor is a revolutionary feature that helps you navigate those tricky technical indicators by simply analyzing them for you and breaking down the result so that you don’t have to. This is still a recommendation, though, and the decision – and the responsibility for the outcome – is still yours and yours alone, so keep that in mind.
Their educational section is second to none, full of articles, videos and tutorials that would put any other to shame. In fact, they offer some of the finest articles on binary options trading that you can find anywhere on the web, and these alone are worth signing up! Other than those, there are e-books and live webinars as well as trading signals so if there are any people out there wondering which broker to pop their binary cherry with, this is a great choice!
Now, for the accounts. The smallest one still requires a $250 investment on your part, but since this is on par with the rest of the industry we could not hold it against them or anything like that. Although, the best accounts are much more expensive: $50,000 and upward. Then again, these guys get a lot of bang for their buck, so it all evens out in the end.
Complaints on WMoption
Since this brokerage hasn’t been around that long, we did not expect to find much online chatter about them at all, let alone much negative stuff. We were partially right. It turns out, there is a LOT of talk about this broker, and surprisingly few complaints have popped up. Fewer still that seem to have any merit behind them. Apart from internet trolls and disgruntled former clients, we have found no serious complaints regarding withdrawal, cheating or any kind of wrongdoing. The only withdrawal complaints we encountered came from people who took a huge bonus and tried to make off with it, whereas they should have read the small letters saying you have to trade until you reach a certain volume to get your hands on any of that cash. Still, if anything pops up, we’ll let you know.
Bonus Offered by WMoption
Depending on the type of account, bonus you could get can be as low as 30% on the lowest-tier account or as high as 100% on the top levels or possibly unlimited for the highest-tier clients. There is a minimum trading volume related to the bonus money and it is 30$ on each buck you accept as a bonus. You cannot make withdrawals until you sort this part out. If you declined any bonus money, however, you can withdraw just fine and from the very start. If you really want your bonus, we suggest you go easy just to be on the safe side.
WMoption Money Withdrawal
Normally, deposits are processed a lot quicker than withdrawals, which take about business days. Plus five to make it to your account. They take credit cards, e-wallets and wire transfer. The thing about credit cards is that you can only use one, so the one you used to deposit cash is the only one you can withdraw to, for security reasons. That way, even if someone tries to steal your money, the only place it can transfer it to is your own credit card. Otherwise, no hidden fees or minimum amount for withdrawal, which is a good thing since most brokers limit you in some way.
For a relative newcomer, the four-language choice consisting of English, Arabic, French and German is nothing to scoff at, and most traders out there are perfectly fine with this language selection. Their platform is unusual enough to appeal to veterans and simple enough even for a complete rookie.
With 12 forex pairs, 19 stocks and just as many indices, not to mention 7 commodities, the asset selection could be better but it is diverse enough to provide something for everyone. Add to it the numerous different types of binaries and you are certain to find something that is right up your alley. This includes ladder options, one touch, short-term and long-term binaries and regular ones of course. Expiry times depend on the kind of binary you select, with 60 seconds on the low end and several months on the other end of the spectrum.
Commissions Support And Effective Return 8/10
All major money transfer options are there. No hidden fees, but wire transfer still costs $25. Their customer support is live and available around the clock. With return rates averaging around 70% and easily reaching 85%, these are some great trading terms. Plus, OTP binaries get a 10% refund.
Deposit, Payment Bonus 9/10
There is a minimum deposit at play, and you can pay your $250 or more using your credit cards, e-wallets or just wire the money through your bank. Withdrawals work the same way, except no minimum amounts and it take up to 10 days for the money to arrive. Their bonus can exceed 100% but only for the highest-tier accounts. The rest have to settle for the 30-100% range. Keep in mind that each bonus dollar has to be traded no less than 30 times before it can be withdrawn.
Apart from candlestick charts and ladder options, there are several other things worth mentioning. These include webinars, Strategy Advisor and trading signals.