OptionGround is a binary options website owned by a British Virgin Islands-based company called AFACT SOLUTIONS. This site has some interesting features, tempered by some problematic drawbacks, particularly in the realm of withdrawals. One of the most intriguing features on the site is the demo account, which you can open quickly and easily without even talking to a customer service agent.
•Official Website: https://www.optionground.com/
•Headquarters: British Virgin Islands.
•Phone Number: +44 203 582 7731
•USA Traders Allowed
•Trading Platform: TechFinancials
•Minimum trade: $25
Is OptionGround a Scam?
There is no reason to believe that OptionGround is a scam. This is a SpotOption white label, and on the surface, it appears identical to many others, but there are some great features which lead us to believe that this is a legit broker. The demo account is a sign of good faith, and the fact that it is easy to find is another positive sign. Demo testing allows new traders to try out the SpotOption platform which powers the website for free, and also to check whether the trading strategies they have developed will really be profitable before investing real money.
Learn more about other platforms here
Deposit Currencies: British Pounds, US Dollars, Euros
Minimum Deposit: $250 or equivalent
Deposit Methods: Credit card, wire transfer
Fees: $30 for any withdrawals past your first each month
Withdrawal minimum: $100
The fees and limits surrounding withdrawals are the main drawback of OptionGround. You can’t withdraw less than $100 at a time, and if you want to withdraw more than once a month, you have to pay $30 for each withdrawal past your initial withdrawal. These fees could add up pretty quickly. Between the minimum and the fees, it might be tricky to get your money out of your account in a timely and affordable fashion.
Find out more on trading minimums by clicking here
OptionGround Bonus Information
OptionGround has a lot of fantastic bonuses. There are match bonuses of up to 30% of $5,000, and you can also get a $50 for referring a friend to the website. OptionGround additionally offers special holiday promotions.
Types of Options and Payouts Available:
•High/Low, One Touch, Boundary, 60 Seconds
•Maximum payout per trade: 85%
•Average out of money reward: 0-15%
Boundary is a common type of binary option trade, but not every website offers it, and it’s a great way to profit when you’re not in a trending market. So this adds to the flexibility of the platform and gives you yet another way to make money.
Trading Features at OptionGround
As a SpotOption white label site, OptionGround offers you an interface that is simple, familiar, and easy to understand and learn how to use. You may even know how to use it already if you have traded on another SpotOption powered website.
•Unlimited Demo Account – OptionGround not only includes a demo account where most binary options brokers do not, but makes it easy to find. When you go to open your account, you have the option of opening a real account or a demo account from the same page. If you click “Demo,” you will be given $1,000 in virtual practice funds and instant access to the demo testing platform. It’s just like the live platform, and allows you to place live trades to test your trading system in real time. With demo testing on OptionGround, you never have to lose a dime learning how to trade. You can wait until you’re truly ready to trade live with real money. (Why is demo testing important? Find out)
•Daily highlights and market analysis give you insight into the current economic climate and assist fundamental traders with their decisions.
•Early closure lets you cut your losses or get out of a winning trade before it turns around on you with a partial profit.
Assets Available to Trade
There are 40 assets available to trade on OptionGround, including a number of indices, stocks and currencies. There are just 3 commodities. Scroll down to the bottom of the asset index to read our closing thoughts on this broker.
•Dow Jones-30 Future
•Hang Seng Future
•Facebook, Inc. (FB)
•British Petroleum PLC (BP)
The main drawback to this site, as mentioned, is the withdrawal restrictions, but another area where OptionGround is a bit deficient is the area of trading resources. There is a glossary and an FAQ as well as some brief how-to pages, but aside from that, there is nothing else in the way of educational materials. When you sign up for an account, you can open either a Standard or VIP account, but there is no information on the account tier page as to what kinds of benefits you can expect from a VIP account beyond higher payouts on your trades. So that isn’t a lot in the way of features and trading tools.
You can still educate yourself about account tiers with this article.
Final Thoughts on OptionGround
Are there areas where OptionGround could do better to serve its customers? Without a doubt, yes. Fewer restrictions around withdrawals would really go a long way toward making this a better trading website. OptionGround could also improve by offering more trading tools and services to higher tier account holders by adding in features like account management, trading signals, and online trading classes.
OptionGround does however provide a number of different trade types, including boundary trades, and they also have that wonderful unlimited demo account feature. With binary options trading really taking off this past year, a lot of brokers have taken advantage of the excitement and encouraged their customers to trade without testing. A broker which makes it easy to test and trade responsibly is almost certainly more trustworthy than those that don’t. In a sea of sub par binary options websites, OptionGround stands out as a different kind of broker which is going the extra mile to offer customers a better place to trade.
Don’t hesitate to try out OptionGround today – get started now!