Grand Option is a good choice of binary options broker for traders that are looking for a regulated trading environment. With excellent payouts and a stable platform, Grand Option is indeed a fairly reliable binary options broker for trading the financial markets.
Grand Option Review Introduction
The binary options market is home to an amazing array of brokers that have complete diverse trading products and services portfolios. Each broker concentrates on developing a financial product that is more suitable to their overall trading strategies. Regardless, there are cases where a majority of these companies try to keep their binary options simplified, in order to meet the expectations of the traders. In the end, traders have the freedom to compare different brokers and choose a company that satisfies most of their requirements.
Grand Option is a leading financial broker that constantly evolves its binary options products and services to set different benchmarks in the industry. The parent company that owns and operates Grand Option has numerous years of experience under its belt and is one of the primary reasons why Grand Option continues to grow at a rapid pace. There are several advantages of trading the binary options market with GrandOption, but our professional review of the broker’s binary options products should enable our readers to understand all the pros and cons of investing in the company.
Grand Option Regulation
Grand Option is a brand name that is owned and marketed by Rodeler Limited, which is the same company that is responsible for managing one of the most popular binary options brokers in the market, known as 24Option. Rodeler Limited is based out of Cyprus in the European continent and is regulated by the Cyprus Securities and Exchanges Commission (CySEC). CySEC operates according to a regulatory framework that is designed by the European Markets in Financial Instruments Derivatives (MiFID). Brokers operating in Cyprus are also authorised by the European Economic Area (EEA) initiative to cater to all traders from the EU member nations, which naturally warrants CySEC to adopt all laws and policies that concentrate on promoting the welfare of the investors.
Grand Option is required to comply with all CySEC rules of financial adequacy such as holding a minimum operating capital of €1 million, financial transparency through routine auditing, and segregation of clients’ funds from the broker’s core operating accounts. Additionally, investors are also provided with a guarantee of around €20,000 in compensation through the Investor Compensation Fund (ICF) that is designed to protect traders from broker insolvency issues.
Grand Option was launched in 2014, a year after Rodeler Limited received its regulatory license from the CySEC. Grand Option is open for traders from all over the world, with a few restrictions imposed on traders from the US and other countries. Grand Option provides a complete list of all countries that are accepted by the broker, and it is indeed a good reference point for investors before opening an account at the company.
Grand Option Financial Instruments
One of the main requirements for any trader would be the choice of financial assets and the underlying options available for trading. Regardless of the financial standing of a company or its reputation as an authentic service provider, brokers can only find success in the retail traders market if they can manage to meet their traders’ expectations with regards to the number of available instruments. A large number of traders may seek access to more than 10,000 financial instruments to cover the entire financial markets, while some traders may prefer to keep their trading simple, by trading only a few assets.
At Grand Option, there are around 100 different financial instruments from the FX, commodities, indices, and stock markets. The choice of financial instruments is a bit smaller than what one would expect from a large brokerage, but it still provides ample opportunity for the trader to choose his/her preferred investment product.
Forex Currencies: GBP/USD, AUD/USD, USD/JPY, EUR/USD, EUR/JPY, GBP/JPY, USD/CAD, NZD/USD, EUR/GBP, USD/CHF, CAD/JPY, AUD/JPY, GBP/CHF, NZD/CHF, CHF/JPY, GBP/AUD, EUR/CAD, GBP/CAD, AUD/CHF, CAD/CHF, EUR/AUD, USD/TRY, EUR/TRY, USD/ZAR, EUR/ZAR
Commodities: Gold, Gold/EUR, Gold/JPY, Gold-Silver, Silver, Western Texas Intermediate (WTI) Crude Oil, Coffee, Corn
Stocks: Sony, ICICI Bank, Sumitomo, Tata Motors Ltd, Tesco, Gazprom, British Petroleum (BP), Barclays, Fiat, Vodafone, AXA, BNP Paribas, France Télécom, Société Générale, Google, Apple, Nike, CitiGroup, Coca Cola, JPMorgan Chase, Microsoft, Amazon, IBM, McDonalds, Disney, Amex, Exxon, Facebook, Baidu
Indices: ASX200 Future, Nikkei225 Future, Hang Seng Future, Bombay 30, Nifty Future, Tadawul, CAC Future, FTSE100 Future, IBEX35 Index, SMI Index, DAX30 Future, MIB40 Future, S&P500 Index Future, NASDAQ100 Future, DOW JONES Future (Industrial Moving Average), South Africa 40 Future
Grand Option Payouts & Binary Products
Grand Option has a similar payout structure to its 24Option sister concern, and the ROI for binary options products are higher than what is offered as the standard payout in the industry. The traditional high/low binary options may qualify for up to 89% in payouts, which is higher than the 85% average ROI offered by competing brokers. The only drawback is that Grand Option does not provide any refunds or returns for Out The Money trades, but the payouts are still impressive. However, don’t expect Grand Option to pay higher returns such as 95% returns on investments, which is the average payout offered by a handful of binary options brokers.
While traders can take advantage of the excellent payouts, there are slight issues of trading with Grand Option, such as a higher minimum investment requirement of $25 per position and a dearth of the tradable options. Traders can only access the conventional high/low binary options, 60 Sec options, and long-term options across the different financial instruments and expiry times.
Grand Option clients will certainly miss the option of trading the Ladder and Touch options, which have the potential to offer higher returns to the tune of 500% per trade. The higher minimum investment of $25 is also far higher than the minimum investment option of $1 offered by other retail brokers.
Although smaller traders may be required to make a few compromises, larger traders can certainly take advantage of the full suite of trading products, as the maximum investment per position is extended up to $20,000. The broker may also facilitate larger investments, provided the trader requires access to larger investment positions. It is not recommended to invest such significant amounts of money in a single trade, but larger traders may have some leeway due to their higher trading capital. Nevertheless, traders must ensure that they have sound money management skills and be proactive in their investment strategies.
Grand Option Trading Software
The Grand Option platform is a proprietary trading interface developed by Scipio that grants access to the markets through a web browser. The trading platform has a lot in common with the Tech Financial trading terminal, but there are a few differences in the overall trading features and trading functionalities. For instance, the Grand Option platform does not offer access to Touch and Ladder options, while the interface also lacks other popular trading tools such as TradeFollow and FX/CFD trading.
The Grand Option platform does display a small dip in performance when compared to the other trading interfaces, but traders shouldn’t have any major reasons to complain. Since all trading activities are performed through the web browser, traders can access their accounts through any device. Grand Option users don’t need to download any dedicated trading interfaces, which makes it easy for users to trade on the go.
One of the main advantages of trading on the Grand Option platform is the ability to use stop losses and manage trades without incurring any large fees. The Stop Loss feature is designed to help traders specify exit points for their open positions at current or future market prices, either to lock in profits or to minimise losses, rather than losing their entire investments on a single trade. The broker also supports double up and rollover trading features, which help traders to double their investments or prolong their trade expiry times to modify their investments according to market conditions. As far as the flexibility of trading is concerned, Grand Option has one of the most useful trading platforms on the market.
Grand Option Mobile App
It is indeed good news for traders that the broker provides dedicated Grand Option apps for both iOS and Android devices. These mobile trading platforms are readily available through the Google Play Store and the Apple App Store and are compatible with most smartphones and tablets. The mobile trading interfaces are really a boon for mobile traders, who are more oriented towards installing dedicated trading apps to enhance their binary options trading experience.
The web-trader version of the Grand Option trading platform is also compatible with the web browser on your smartphone or tablet, especially for Windows and other mobile users. Most brokers design their trading platforms to offer a responsive trading template, which ensures that all web-based platforms work seamlessly on all devices, regardless of their screen size. Both the dedicated mobile trading apps and the web-trader interface offers excellent trading features without any compromises. Despite the small gap in performance, the platforms do provide a reliable trading experience.
Grand Option Minimum Deposit & Fees Of Payments
Grand Option has four different account choices, the Standard, Gold, Platinum, and Diamond accounts. The minimum deposit for a Grand Option account starts from $250, but there isn’t any maximum deposit limit set by the broker. All account holders get access to the basic Grand Option binary trading platform, but premium account traders can qualify for added account benefits and training resources. Traders can fund their accounts using credit/debit cards, e-wallets, and bank wire transfer, while withdrawals are processed through the method that was used to fund the trading account. The broker does not charge any deposit or withdrawal fees, and all withdrawals are processed on time.
Grand Option has a remarkable history of transacting all clients’ withdrawals on time without any major issues. The lack of any fees or commissions for financial transactions also ensures that traders can enjoy a safe and secure investment environment, which is further protected by the CySEC regulation. However, if you are choosing the wire transfer payment method, make sure that you deposit at least $1000, as the broker has expressly mentioned a minimum investment of $1000 for bank wire transfers.
If you don’t have an active trading career, or if you are prone to keep your account dormant for extended periods, you should account for account dormant or inactivity fees. Trading accounts that are held inactive for three consecutive months will be charged pretty high account maintenance fees. The fees are waived for traders if they open at least one trade within the span of three months.
Grand Option Bonus
CySEC and other European regulatory agencies have banned the concept of bonuses or any other similar promotional campaigns. Grand Option, being licensed by the CySEC, is not authorised to indulge in any promotional activities that involve free money. Therefore, your deposits may not qualify for any Grand Option bonuses. You should not be too worried about the lack of bonus, as this helps in improving the safety aspect of the broker and reduce the conflict of interest.
Grand Option Demo Trading
Grand Option also does not provide the option of a demo account, which is indeed peculiar. Most regulated brokers off the chance for traders to opt for a free demo account, but unfortunately, Grand Option has skipped on the demo trading account. However, you can get a free platform walkthrough and get accustomed to the trading interface by accessing the free online trading terminal, which allows you to browse through different options and experiment with the platform features. Nevertheless, we would urge Grand Option to consider offering a free and uninterrupted demo account to all users, irrespective of whether they open a live account or not.
Grand Option Customer Service Channels
Grand Option pays particular attention towards its customers to ensure that all traders receive the best support from the broker’s customer service channels. CySEC has made it compulsory for its regulated member firms to offer a professional and friendly customer service environment that not only aims to improve customer satisfaction but also offers a reliable platform that helps in addressing clients’ concerns. Customers can get in touch with the customer support team via email, web contact form, and an email address, but we did miss a live chat function. Regardless, the broker does tend to its customers’ emails and messages in a timely manner.
Grand Option Learning Resources & Trader Training
Grand Option may not claim to be the best broker in the market for trading resources and advanced training, but the broker offers a pretty standard online training platform to help traders learn about the different components of binary options trading. Premium and VIP account holders get access to personal account managers and market analysis, along with access to trading strategies and other trading features.
Grand Option Verdict
- Grand Option is regulated by the CySEC and is authorised by the EEA to offer its services throughout the EU.
- Payouts for binary options are higher than the industry average.
- Grand Option offers a reliable trading platform.
- Withdrawals are processed on time.
- No demo account offered to traders.
- Due to CySEC regulation, Grand Option is not ableto provide any bonuses.
- Binary options such as Ladder and Touch options are missing.
What Are My Account Deposit Options?
Traders can start trading by depositing a minimum of $250, which can be funded through credit/debit cards, wire transfer, and e-wallets.
Is Grand Option A Scam Broker?
No, Grand Option is a regulated broker that is registered with the CySEC for a European regulatory license.
How Are My Funds Secured?
All traders’ funds are kept in segregated accounts, which can be used to compensate clients in case of broker insolvency. The CySEC carefully scrutinises all Grand Option accounts and financial transactions to ensure complete transparency of operations.