Love At First Sight
PlusOption is an established and respected binary options broker with an excellent reputation as one of the most reliable and enjoyable platforms on the market. In the short time since the company was established in 2015, it has steadily gotten stronger.
Most binary options websites are attractive at first view, but there is something special about the professionalism of PlusOption’s platform that had us ready to jump in and see what this site has to offer.
Trading Software: The PlusOption Platform
PlusOption uses the SpotOption trading platform, which we believe is the most user-friendly platform available. Traders have more than 60 assets comprising of currencies, commodities, stocks and indices to choose from, and four trade types – the traditional High/Low trading, One-Touch, Sixty-Second and Ladder trades. We especially like the social trading tool SpotFollow, which allows traders to follow and even duplicate transactions made by the site’s most successful traders. PlusOption also has mobile functionality that allows traders to do everything from their tablets and smartphones that they can do from their computers.
PlusOption keeps things nice and simple by offering just three different account types. As a general rule, we see this as a very good thing and, with PlusOption, we were especially impressed with the basic “Regular” account, which is one of the best low tier accounts that we have seen anywhere. Obviously, the higher the account level, the more benefits the broker provides, so let’s take a look at the account options:
The Regular Account
The most basic PlusOption account, the Regular account, requires a minimum deposit of $250. Account members receive full access to the PlusOption site, four relatively small and more “intimate” weekly webinars and one additional, larger webinar. In addition, PlusOption provides all regular account members with a free daily trading signal, which especially impressed us, as most online brokers only provide regular signals to the higher-tier traders. Minimum trades on the site for Regular account holders is a very reasonable $25, and the maximum is $250, which helps protect the funds of traders with smaller balances.
The Gold Account
The middle tier is the Gold account, for traders with a minimum balance of $2,500. This is the most popular account for traders, and our reviewer traded on the site as a Gold account member. In addition to all of the perks enjoyed by Regular account holders, Gold account holders receive 12 weekly webinars and three free training sessions with a PlusOption broker. Gold account traders receive two risk-free trades as a welcome bonus and receive three free trading signals daily.
The VIP Account
VIP account holders maintain a minimum balance of $20,000 in their accounts. The maximum trade for VIP members jumps up to $15,000 per position. In addition to the advantages enjoyed by Regular and Gold account members, VIP members receive 5 risk-free trades upon joining, and on top of the 12 weekly webinars, VIP account holders receive unlimited access to one-on-one sessions with a personal analyst, and they have the opportunity to work with the PlusOption Head Analyst. In a series of specially-tailored webinars for VIP traders, they also learn exclusive PlusOption trading strategies.
Bonuses and Promotions
In addition to the risk-free trades that Gold and VIP account members receive, every trader receives a 100% deposit bonus when they register and activate their PlusOption trading account. Traders can also receive a second deposit bonus, worth up to $5,000. In order to redeem the bonuses, members are required to trade a minimum of 20 times the bonus amount, which is less than most other brokers require.
PlusOption Deposit Methods
One of the absolute best aspects of PlusOption is the ease with which traders can deposit and withdraw funds. The platform accepts credit cards, debit cards and wire transfers, and 15 different e-wallet services, including Neteller and Skrill as well as several regional/local e-wallet services.
The minimum deposit at all times is $250 and the minimum withdrawal is $50. Any withdrawal of more than $100 can be completed via bank transfer, which is processed within 72 hours of the request. That is much faster than most brokers offer and one of the things we like best about PlusOption.
PlusOption Customer Support
The Binary Option Broker site is available in both English and Russian, and customer service is available in those two languages as well. The support team can be reached via email or live chat, as well as by phone from Monday-Thursday, 6:00 a.m. – 3:30 p.m. GMT, and on Fridays 6:00 a.m. – 1:30 p.m. GMT. The site provides a very extensive FAQ section, so many of the questions that users might want to ask customer service can be found even without contacting the support staff. When reviewing this site, we did contact customer support and were very impressed by the courtesy and professionalism with which PlusOption answered our questions.
PlusOption – The Final Word
We were very impressed with PlusOption from beginning to end. The account types are simple and without frills, offering plenty of wonderful perks to all traders, the user-friendly SpotOption trading platform is a pleasure to use, deposits are very easy and every trader can find the method that best suits his needs, and the customer service was absolute top-rate. We would like to see more trading assets offered by the platform, and a user demo account would be an excellent addition to help new traders, but these are relatively minor issues and do not take away from how highly we recommend the PlusOption site.