Closeoption Review Is CloseOption Scam or Legit Binary Broker

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Binomo Online Binary Options Broker Review

What is Binomo?

Binomo is an online option trading broker that started operations in 2020. The broker is a subsidiary of the Dolphin Corp and is headquartered in the St.Vincent and the Grenadines under registration number 25151 IBC 2020.
with has there office located on the First Floor of First St Vincent Bank Ltd Building, James Street, Kingstown, St.Vincent and the Grenadines

Also, they work with a payment agent to secures there banking: Pollack Trade LTD (a company registered in accordance with the legislation of the Republic of Bulgaria, whose office is located at Georgi Sava Rakovski St. 96, Sredets Region, Sofia Municipality, Sofia 1000)

The platform provides contact customer support by Email [email protected]

Currently, this broker is only regulated by the International Financial Markets Relations Regulations Center (IFMRRC). The organization describes itself as a non-commercial body created to regulate services provided by brokers, dealers and other financial and investment institutions.

Binomo Platform guide:
Is Binomo a scam or legit online options broker?

One of the key features I look at when deciding whether a broker is legit or not is if they’re fully regulated by a reputable authority. As I mentioned, Binomo is regulated by the IFMRRC. I usually place preference to brokers who hold certificates from reputable authorities like CySEC, ASIC and FCA.

After combing through the Binomo website, I found that they have a pending CySEC and CPO regulation. Although it’s a good indicator about how serious the broker is about attracting traders from different parts of the globe, I’d advise traders to wait until they’re fully regulated by CySEC.

However, if you still want to try out the platform, you can take advantage of their low $10 minimum account deposit to start trading. This will enable you to try out the platform without risking a lot of money.

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General Risk Warning! your capital may be at risk

What makes Binomo stand out?

The Binomo platform is quite unique and offers several trader friendly features. One feature that really stands out is the ‘hotkey’ option. Once enabled, you can quickly issue commands such as increase/decrease investment amount and execute trades without using a computer mouse. The platform also provides many charts and technical analysis tools. This makes it easy to customize your trading interface to suit your trading preferences.

Does Binomo have any major shortcomings?

Every trader wants to have control over their investment. Binomo has a clause in their terms and conditions that seems to limit this control. According to the clause, you will have 10% deducted from your funds should you decide to withdraw before your trade turnover reaches at least twice the deposited amount.

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For example, say you deposit $100 and decide to withdraw the whole amount before making trades worth $200 or more. Binomo will deduct 10% ($10) from your funds.

Should you open a Binomo trading account?

This online broker offers a demo trading account credited with $1000. This is a good place to get started in order to get a feel of the platform. You’ll only need a valid email account to open a demo account. In addition, you can easily replenish the demo account funds if necessary.

But, what does a real Binomo trading account offer?

The platform comes with a well-designed trader interface. It isn’t cluttered with a lot of features which is a great thing especially for beginner traders. Besides being able to trade directly from your browser, you can also access the Binomo platform via Android or iOS app.

Besides the demo account, there are three other account types to choose from as follows:
1. Binomo Standard Account

To open a standard account, you’ll only need a deposit of $10. Profitable trades provide a return of 85%. Withdrawals are processed within 3 working days.

2. Binomo Gold Account

The minimum deposit to open a gold account is $500. Gold account holders earn returns of up to 86% on profitable trades. This account type also attracts a weekly cashback of up to 5% and withdrawals processing of within 24 hours. Other benefits include a personal manager and advisory services.

3. Binomo VIP Account

The minimum amount needed to open a Binomo VIP account is $1000. You can receive up to 100% bonus once you open a VIP account. Returns on successful trades can reach 97% and withdrawals are processed within 4 hours. VIP account holders are also eligible for a 10% weekly cashback and other additional features not available to Standard and Gold accounts. It’s worth noting that each of these live accounts attracts a signup bonus. Bonuses are also offered to existing account holders from time to time. Binomo offers a range of tradable assets to choose from. These include currency pairs, commodities, stocks and cryptocurrencies. The number of assets you have access to largely depends on the account type you sign up for with VIP account holders having access to the widest range.

There are two option types to choose from. The turbo option allows you to enter and exit trades within a 60-second time frame. The classical high/low option on the other hand offers multiple expiry periods of 15, 30 and 60 minutes respectively.

You’re not tied down to the expiry you set at trade entry. The platform allows you to choose sequential 1 minute expiry periods of up to 6 minutes.

For example, if you enter a trade at 12.36 pm, you can set expiries of 12.37, 12.38, 12.39, 12.40, 12.41 and 12.42. There’s no limit to the number of positions you can enter at any given time. This makes it easier to maximize profits within a specific time period. You can also trade during weekends.

In order to be able to follow price trends easily, the platform’s chart can be divided up into several time frames ranging between 5 seconds and 5 minutes. By rolling your mouse wheel, you can zoom the chart in and out.

Binomo offers

The platform also offers a wide range of technical analysis tools that allow you to keep track of trends in real time. Binomo also offers the ‘hotkeys’ tool which is unique across the online options brokers I’ve tried out. What this tool does is activate keyboard shortcuts to common commands you issue while trading.

This way, you won’t have to rely on clicking on your mouse when issuing commands thus saving time. I would however recommend you first memorize the different hotkeys using your demo account before trying them with a live account.

If you’re just getting started as a trader, Binomo provides a collection of tutorials to get you on track. These include video tutorials, a detailed knowledge base, and strategies section. Their FAQ section however isn’t as detailed as you’d expect with any online options broker.

The minimum amount you can invest in a trade is $1. The platform accepts several payment methods that include credit/debit card, QIWI, Neteller and WebMoney. Withdrawals are made to any of these payment systems. The broker doesn’t charge any withdrawal fees unless you want to withdraw funds before trading an amount at least twice your last deposit.

Binomo also regularly offers tournaments which make it easy to earn money outside your normal trades.

So what’s my opinion regarding whether you should open a Binomo account or not?

I believe the platform has made an effort to stand out as a legit online options broker. I’m a bit reserved when it comes to brokers regulated by the IFMRRC only. Their requirement that you have a trade turnover exceeding twice your deposit amount before withdrawing is also something they need to work on.

However, given that you can deposit $10 and trade with as little as $1 I consider Binomo worth trying out. But before making my final conclusion, it’s best I consider existing trader complaints as well as a breakdown of how I rate different Binomo features. General Risk Warning! your capital may be at risk

Binomo trader complaints

Due to the IFMRRC regulation, it’s safe to say that Binomo primarily targets traders from Russia and other Asian countries. This could explain why I couldn’t find any complaints from traders in Europe or Australia (Binomo doesn’t accept traders from the US).

However, I did come across a YouTube video. In it, the trader complains about not being able to withdraw profits that were tied to bonuses. This is a typical complaint I’ve come across with regard to brokers that offer bonuses to new traders. I usually advise that you first read the fine print explaining the intricacies tied to profits earned from bonuses.

How do I rate different Binomo features?

As usual, I always try to compare different online brokers based on the different features they have to offer. So based on a rating of 20, here’s my breakdown of Binomo’s features.

User friendliness and accessibility

The Binomo platform is well designed. The trading interface isn’t cluttered with many features which often negatively affect usability. The ‘hotkeys’ option also makes it easy to issue different commands using your keyboard. Opening a demo account requires only your email address. The platform is also easily accessible via browser and mobile apps. The 14 language options also make it easy for traders around the globe to access the platform.

Account types

There are 3 real account types to choose from. The Standard account makes it easy to try out the platform without investing more than $10. Each account comes with its own unique features. However, Gold and VIP accounts offer more goodies including faster withdrawals, access to more assets and better support.

Number of Assets

There are about 80 different assets to choose from. These include currency pairs, commodities, indices and cryptocurrencies.

However, the number of assets you can trade in is limited based on the account type you hold. To access more assets, you’ll need to open a Gold or VIP account meaning you’ll need to invest more of your money.

Option types and expiry periods

You can choose between turbo options and classic high/low options. The former has expiry periods ranging between 1 second and 5 minutes. The latter has expiry periods of between 15 and 60 minutes. You can also enter multiple trades at a time.

Trader support

Getting started with the platform is quite easy. However, the amount of support you receive thereafter could use some improvements. Their phone support is available for 4 hours. You could still contact support through email,live chat and Skype.

Fees and effective return

Binomo doesn’t charge fees on trades executed. However, you can have 10% deducted if you decide to make a withdrawal before executing trades of at least twice your last deposited amount. Profitable trades can earn up to 87% effective return. This is considerably lower compared to other brokers who offer returns of up to 95%.

Deposits, withdrawals and bonuses

The platform accepts several payment methods including debit/credit card, Neteller, QIWI, Yandex and WebMoney. Withdrawals processing will take anything between 4 hours and 3 working days depending on your account type. Binomo also offers bonuses on deposits which can be up to 100% for VIP accounts. The turnover cap on bonuses ranges between 30 and 40 times the bonus amount. trading in Russia? We’ve found a highly rated fully regulated broker for you. Start trading with Olymp Trade now!

Website extras

Binomo provides the ‘hotkeys’ feature which I found to be unique, useful and time-saving. The ability to replenish your demo account is another feature I found useful especially for new traders learning how to use the platform. Another noteworthy extra is the different tournaments offered to traders. This allows you to earn extra money outside normal trading.

Conclusion

Binomo is a decent online trading platform. It comes with all the features you’d expect from a broker trying to attract traders from across the globe. The platform is well designed and offers many trader friendly features.

However, there are several shortcomings that cannot be overlooked. First is the regulation issue. Being regulated by the IFMRRC only locks out many traders especially from European countries.

Their phone support could use additional live hours. The 10% fee on withdrawals made before a certain turnover is achieved is another shortcoming worth considering before investing with this broker.

Overall, I wouldn’t rate Binomo very highly. If you’re looking for a highly rated and fully regulated options broker we’ve got the right one for you. Simply click here.

General Risk Warning! your capital may be at risk

CloseOption Review

CloseOption is a brokerage firm that deals with binary options trading. The company is operated and owned by Organic Tech LLC, with its headquarters in Avsallar Ahmet Erdogan. The firm offers different services including trading of indices, forex, commodities, and shares. With a $5 minimum deposit, the firm aims to provide easy access to traders who can take advantage of the market using the latest platforms and technologies. The firm offers a CloseOption demo account, real account and a competition mode.

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CloseOption review – Scam? Demo? + must know facts about CloseOption

CloseOption review – Scam? Demo? + must know facts about CloseOption

CloseOption review – Scam? Demo? + must know facts about CloseOption

CloseOption review – Scam? Demo? + must know facts about CloseOption

CloseOption review – Scam? Demo? + must know facts about CloseOption

CloseOption review – Scam? Demo? + must know facts about CloseOption

CloseOption review – Scam? Demo? + must know facts about CloseOption

CloseOption review – Scam? Demo? + must know facts about CloseOption

CloseOption review – Scam? Demo? + must know facts about CloseOption

CloseOption review – Scam? Demo? + must know facts about CloseOption

CloseOption review – Scam? Demo? + must know facts about CloseOption

CloseOption review – Scam? Demo? + must know facts about CloseOption

Find the best trading platform. You capital is at risk when trading. Be careful.

The demo account allows traders to get a feel for the trading platform while using virtual funds, before registering for an account. The platform can be accessed on all mobile devices and desktop PCs, ensuring that traders can trade wherever they are. The firm’s demo contest is set once a week and up to four times a month. This is where players who have their accounts approved by the firm can take part in the contest, where the winner can stand a chance to win $300, while the prize of money of 150 is reserved for the second place and $100 is reserved for the third place.

In this CloseOption Review, we will discuss more features that the platform has to offer and whether it is the best broker for you.

Is CloseOption A Scam? Is CloseOption Regulated?

This is a tough one. While Looking closely at CloseOption, we found very little bad reviews of the firm and its trading platform. We actually found the opposite, where people have nothing but positive things to say about the platform. The fact remains; traders incur very little risk when dealing with the firm. The mere $5 minimum sign up fee is reasonable and we think this is one of the reasons that the firm has been very successful in acquiring new clients. Traders have also reported that their customer service which is available 24/7 is impeccable.

Coupled with an impressive platform, great contests that are inclusive to all players from all walks of life and the fact that they are regulated by NBoA, makes the firm, one of the best stock brokers to trade with. Unlike some brokers, that are openly mocking the world of trading, scamming traders and taking their hard earned money, we can truly confess that there is simply no CloseOption scam. The company seems legit and carries very little risk with its $5 minimum registration deposit. Plus they have an amazing platform that is easy to use and customer services that is responsive 24/7.

Alternatives to CloseOption

There are other alternatives though to CloseOption stockbroker. These include eToro and 24Option but looking at 24Option review, we can conclude that the firm does not seem to be a legit broker. Unlike the other two brokers, 24Option does not offer binary trading options and there have been quite a few complaints about the firm.

Most traders have stated that the firm does not allow them to withdraw their cash; some complained about account managers giving wrong signals while others have complained about the firm’s reluctance for traders to use robots.

Broker Review: CloseOption

Today I’m analyzing a new broker that’s promising the largest payouts among all binary options companies, with a $5 minimum deposit, CloseOption. With a dedicated focus on compatibility, the foundation of this company is built on providing easy access to traders that want to take advantage of the markets via all available technologies and platforms.

Owned and operated by Organic Tech LLC, this broker is located at Avsallar, Ahmet Erdogan Sk, P.K 07410 Alanya, Antalya, Turkey. The business was first registered on 08/08/2020 with license B13080768, and is regulated under the National Bank of Georgia under B 2-08/3647, dated 10/18/2020. To get in touch with support, traders can call +442032902097, or email [email protected].

CloseOption Review

One of the main selling points of the CloseOption brokerage is that they use the exact same trading environment for demo, real and contest accounts. This allows traders to get comfortable with the platform while using virtual funds, which is a great way to ensure that the community is more profitable in the short and long-term. More brokerages should be going this route, because traders that win bring more clients, and stabilize the industry.

The brokerage also provides traders with access to their platform for computers, cell phones, and claim “compatibility with all kind of mobile phones in the market.” It’s worth noting that the brokerage allows traders to customize their platform background, as well as move different elements around the chart, including the buy and sell buttons.

As for expiry times, the brokerage offers anywhere from 30 seconds, to 1 month long trades. This gives traders the ability to work with many different trading approaches and strategies, which is imperative, because you never want to be hamstrung by your platform. This type of compatibility is frequent in many of my most recent broker reviews of Nadex and BinaryCent .

Breakdown

  • Broker Name: CloseOption
  • Platform: BO, Spread
  • Founded: 2020
  • Bonus: Up to 100%
  • Return/Refund: 50-95%
  • No. Of Assets: 11
  • Regulated: NBoA
  • Demo Account: Yes
  • Minimum Deposit:$5
  • US Traders: Allowed

CloseOption Contest

It’s quite apparent that the CloseOption team put a lot of stock in their binary options contests . This portion of their website is advertised frequently, and used as one of the main methods of acquiring new clients. They believe that by giving traders the opportunity to take part in competitions to earn prizes, that they will foster a strong and skilled group of clients, that are well-equipped to trade using their platform.

Every single week $840 is spread among the top 20 traders, based on where they finish in the competition. “The first place gets $300, the second place $150, the third place $100, the fourth place $50, the 5th place $30, the 6th place $25, the 7th place $25, the 8th place $20, the 9th place $20, the 10th place $15.”

Considering this competition is 100% free, and only requires that you register, it’s a great way to get acquainted with the platform, and test your own trading skills to see if you should bother depositing or not. If you are doing well on the practice accounts, then there is no reason to move to a live account.

Client Feedback

There isn’t a lot of client feedback available for the CloseOption brokerage just yet, but the comments I have read, are quite positive. Many of the comments claim that the brokerage is providing withdrawals quickly via PayPal, and also point out how helpful the contests are at increasing their account balances.

Here are a couple of the comments we’ve seen so far, and I hope that you will leave comments of your own here at Binary Today.

Conclusion

So far, I like what I see from the CloseOption brokerage. Their platform is impressive, they have inclusive contests, and the general community is impressed with their services. Obviously, they are the new kid on the block which makes them harder to trust, but they appear to be regulated and trustworthy. If you are interested in signing up, I recommend that you register with some of their free contests, to test their platform without any risk at all. If this works for you, and you feel comfortable with the brokerage, then continue to trade live.

Thank you for stopping by, and please leave comments and questions with anything you would like to add.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Broker 2020!
    Perfect For Beginners!
    Free Trading Education!
    Free Demo Account!
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  • Binomo
    Binomo

    Good Broker For Experienced Traders!

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