PlusOption Review

BROKERRATINGVISIT

  • Bonuses: 70/100
  • Software: 85/100
  • Customer Support: 65/100
  • Options Choice: 90/100

 

PlusOption Introduction

PlusOption is a binary options online brokerage brand which is owned and operated by Redfield Markets Ltd. This company is based in Bulgaria and various types of binary options online from its web-based and mobile based platforms.

 

Company information

PlusOption is an online brokerage platform which allows traders to trade various types of binary options online contracts. The company’s licensing status is unknown at the moment.

 

Trading Platform

PlusOption’s primary trading platform is a browser-based version which works across all browsers and does not require any software downloads or installation. The web-based platform is a turnkey rebrand of the SpotOption trading platform. SpotOption has been the undoubted leader in the development of turnkey platforms for binary options online brokers since 2009. Several innovative binary options online trade types are available for trading as can be seen from the snapshot below.

 

 

Trade types available on the PlusOption platform include the following:

  1. Classical binary option, also known as the Call/Put option.
  2. Pairs option
  3. Long term option
  4. 60 seconds option (Call/Put option with expiry times set at 60 seconds)
  5. One Touch
  6. Ladder Option

Each trade type is unique and offers traders a wide range of choice as to how to trade binary options online.

 

Mobile

PlusOption also offers traders the option of trading binary options online on the go with the use of their mobile apps. These can be downloaded on smartphones and tablet devices from the respective stores: the Google Play store for Android devices and the App store for iPhones and iPads.

 

 

Assets available

PlusOption has more than 200 assets listed for trading. Majority of these are stocks. However, stocks are not the only assets that can be traded on PlusOption, as the asset listing shows.

Currencies: EUR/NZD, EUR/CHF, EUR/CAD, EUR/AUD, CAD/JPY, BitCOIN(bitstamp), AUD/USD, AUD/NZD, AUD/JPY, AUD/CHF, AUD/CAD, USD/ZAR, USD/TRY, USD/SGD, USD/RUB, USD/JPY, USD/CHF, USD/CAD, NZD/USD, GBP/USD, EUR/USD, EUR/GBP, EUR/JPY.

Commodities: Coffee, GOLD, OIL (LIGHT SWEET CRUDE), OIL FUTURE, PLATINUM, SILVER, Sugar, Wheat.

Indices: TOPIX, TEL AVIV 25, TADAWUL (SAUDI STOCK EXCHANGE), SSE180 (SHANGHAI STOCK EXCHANGE), S&P 500 (US), RTS (RUSSIAN TRADING SYSTEM), NIKKEI225 (JPN), NASDAQ (US), MSM 30 (OMAN), MICEX 10 (MOSCOW INTERBANK EXCHANGE), KUWAIT (KUWAIT GENERAL INDEX), KL FUTURE, ISE 30 (ISTANBUL STOCK EXCHANGE), HANG SENG (HONG KONG), FTSE 100 (UK), DUBAI (DUBAI FINANCIAL MARKET GENERAL INDEX), DOW (US), DAX (GERMANY), BOMBAY SE.

Stocks: YANDEX N.V, YAHOO, WYNN RESORTS, WEIBO, WAL-MART, VOLKSWAGEN, VODAFONE, UNICREDIT, TOYOTA (US), TOSHIBA CORP, TESLA MOTORS, TENCENT HOLDINGS, TELEFONICA, TATA STEEL, SUMITOMO MITSUI, STARBUCKS, SONY, SINA, SIEMENS AG, SAPSAP, SANDISK, SALESFORCE.COM, S.BANK INDIA, ROSNEFT’, RIO-AURIO-AU, Rio Tinto, PROCTER & GAMBLE, PFIZER, PETROBRAS, PEPSICO, PAYPAL, NETFLIX, MICRON.

 

Trading Accounts, Bonuses & VIP Programs

 

At PlusOption, traders have the opportunity to choose from 4 different account types. These are the Micro, Silver, Gold and Diamond accounts. What do each of these account types offer?

 

Micro Account

  • $250 min deposit
  • Trade alerts
  • Market review
  • Up to 190 traded assets

 

Silver account

  • Minimum deposit of at least $2,500
  • Trade alerts
  • Market review
  • Up to 190 traded assets
  • A personal account manager

 

Gold Account

  • Minimum deposit of at least $10,000
  • Trade alerts
  • Market review
  • Up to 190 traded assets
  • A personal account manager
  • Financial plan
  • Risk management plan
  • Personal analyst

 

Diamond Account

  • Minimum deposit of at least $10,000
  • Trade alerts
  • Market review
  • Up to 190 traded assets
  • A personal account manager
  • Financial plan
  • Risk management plan
  • Personal analyst
  • Rushed Withdrawal
  • All tier trade rooms
  • Invite to VIP events
  • Higher payouts
  • Special Ventures

When it comes to bonuses, traders get a deposit bonus and gift items under the PlusOption loyalty program. There are also a number of bonuses accessible only to VIP account holders.

 

Deposits and Withdrawals

Accounts on PlusOption can be run in one out of several base currencies: US Dollars, Euros and British Pounds. The minimum deposit amount is $250 (or 250 Euros/GBP).

 

 

With these currencies, traders can use the following payment methods to fund their accounts:

  1. Credit card (Visa, MasterCard and Maestro)
  2. Debit card
  3. Wire transfer
  4. Alternative payment methods such as Skrill, Neteller, China Union Pay
  5. Western Union

There are also maximum deposit and minimum withdrawal amounts. A minimum of $100 (or 100 Euros/GBP) can be withdrawn. Deposit limits will depend on the method of transaction. With Western Union and credit/debit cards, not more than $10,000 can be deposited at a time. Wire transfers carry no deposit limits. For e-wallets, the deposit limits vary. These are usually clarified by the broker before the deposit is made.

When it comes to trading, the maximum amount that can be invested into a trade will vary with the binary option to be traded.

  • For the Classical/Binary, Long term and Pairs options, the maximum investment amount is €/$ 1,500 per trade.
  • For the Ladder option and 60 Seconds option, the investment amount is €/$250
  • For the One Touch Option, there is an investment limit of €/$ 500 per trade.

 

Customer support

PlusOption offers customer support using different channels. The channels through which the PlusOption team can be reached are as follows:

  • Phone: Support using the phone channels is provided using two numbers: +442038070195 and +27104469012
  • E-mail support is provided using two email addresses. The general support email is [email protected]

There is also an online contact form. As mentioned earlier, most of the support channels are only available from 8am to 5pm CET (Monday to Thursday) and 8am to 1pm on Fridays.

 

Extra features and resources

PlusOption offers some great features for its clients.

  • The Double Up function is used to double the investment into an asset if there is belief that current favourable price trends will continue.
  • Traders have more than 200 assets to choose from, giving great flexibility as to what can be traded.
  • There is a vast array of educational resources so PlusOption’s traders can get a grip of how binary options online work. Educational resources include materials such as articles, demo videos and a series of webinars. These are all available as part of the Plus Academy.
  • The Roll Over feature is available for traders with out of the money trades to recover them if there is the belief that the trades will turn in the trader’s direction. There are terms and conditions attached to the use of the Roll Over.

 

Verdict

PlusOption has an impressive product offering. Most of the features are trader-friendly and easy to use. However, there are also areas where vast improvement is needed.

Pros

  • PlusOption has a well-diversified asset base.
  • Several exciting trade-protection features such as Double Up, Roll Over and Sell Option.
  • One of the fastest brokers in terms of processing of withdrawals.
  • High payouts: 85% for successful option outcome.

Cons

  • Transaction volume requirements attached to bonuses are very high (30X bonus amount must be traded to be able to withdraw profits).
  • Only the first withdrawal is free of charge; subsequent ones within a month are not.
  • Customer support is only available for 9 hours a day.

 

FAQ

  • Am I qualified to earn bonuses with PlusOption?

Answer: PlusOption offers a deposit bonus for first-time traders. This comes with a volume requirement of 30X the bonus for withdrawals to be made. Also, PlusOption features a loyalty program where loyal traders are given physical gift items.

 

  • What are the payment methods supported by PlusOption?

Answer: PlusOption supports the use of credit and debit cards, bank transfers and a few international e-wallets. PayPal is not supported on the PlusOption platform.

 

  • What is the minimum and maximum deposit requirement?

Answer: The minimum deposit requirement is $/€250. Maximum deposit requirement differs with transaction method, with credit cards and Western union carrying deposit limits of $10,000. Wire transfers have no limits because banks already have very robust Know Your Customer (KYC) policies in place.

 

  • How fast can my withdrawal request be processed?

Answer: Deposit transactions are processed instantly when you use cards or e-wallets. They are slowest with bank wires and Western Union. Withdrawal requests at PlusOption are typically processed in one hour if e-wallets or cards are used to make the transaction.

 

  • Is PlusOption regulated?

Answer: PlusOption is not regulated. The Bulgarian government does not exercise regulatory control over the binary options online market.

 

  • Can I use a binary options online robot on PlusOption?

Answer: Binary options robots are third party applications. At the moment, there is no information on any binary options online robots that work on the PlusOption platform.

 

  • What is Double Up?

Double Up offers you the chance to repeat a winning trade’s conditions. Using the Double Up replicates the same conditions of a winning trade on a new trade, using the current market price.

 

  • What is Sell Option?

This is a trade protection strategy which allows a trader to sell off a position which is in profits for a reduced but guaranteed profit payout. It usually cannot be used once there are only 5 minutes left to expiration.

 

BROKERRATINGVISIT

  • Bonuses: 70/100
  • Software: 85/100
  • Customer Support: 65/100
  • Options Choice: 90/100