Regulation 65%
Binary Options Choice 90%
Payouts 90%
Software 95%
Min Deposit & Accounts 80%
Demo 50%
Customer Support 75%

PlusOption Trading Review Introduction

How do traders choose a reliable company that guarantees a better trading environment? It is becoming extremely difficult for large-scale investors and retail traders to pick a regulated binary options broker, especially in a complex market where several countries are outright banning binary options products. Binary options trading is mostly a financial product that is loosely based around the betting concept, which requires traders to wager on the movement of markets. Of course, investing in financial markets indeed depends on an unpredictable outcome, but the risks are exponential in the case of binary options trading.

 

PlusOption is only a new addition to the binary options market and is trying hard to carve out a niche for itself in the highly competitive industry. PlusOption has invested a lot of money into advertising and marketing campaigns, which have seemed to reap several rewards in terms of market exposure and client acquisition.

 

PlusOption considers itself to be one of the leading binary options brokers in the market, but it is certainly a tall claim from the broker. Our expert Plus Option review intends to find out whether PlusOption is a dependable broker for trading binary options, and if the broker indeed offers its services according to the promises and guarantees provided by its key company personnel.

 

 

PlusOption Company Specs & Regulation

PlusOption is binary options broker that appears to have its base in the European Union. PlusOption was launched by Redfield Markets Ltd. in 2015, which is a company with an official address in the UK. PlusOption also reports having its operational headquarters in Sofia, Bulgaria, but Bulgaria is not an entirely popular destination for financial companies. While we are satisfied that the broker has a European presence, it does come as a strange surprise to see that PlusOption is not a regulated brokerage. PlusOption does not have any licenses from the Financial Conduct Authority (FCA of the UK), and the company also fails to provide any information about its EU authorisations. In fact, PlusOption has outlined that it does not provide its services to traders from Belgium and France, which are two of the top constituents of the European Union.

 

PlusOption has also specified that the company does not provide its services to traders based in countries such as the US, Canada, Australia, due to the existing regulatory restrictions. The broker also prevents users from countries such as Israel to open an account at the company, citing the legality of binary options in these jurisdictions. Although we understand the strategy of a majority of brokers avoiding high-cost broker locations, we are not particularly fans of companies that avoid being regulated, even though they already have a base in Europe or other jurisdictions.

 

PlusOption is apparently operating in the binary options market without any verified authorisations, but the company does not seem to have indulged in any major financial scams or fraudulent practices. Regardless, traders must be cautious while depositing money into the broker’s account, as there are better options in the market that offer a regulated service. It also makes sense from the perspective of your funds’ security against broker insolvency, as regulated binary options brokers usually provide financial protection through compensation programs and segregation of clients’ funds. With the lack of either guarantee, PlusOption does make it hard for its clients to choose the service wholeheartedly, despite having one of the best binary options accounts in the market.

 

PlusOption Binary Options Assets

There are ample opportunities to invest in the markets through a PlusOption account, as traders are greeted with access to more than 190 financial instruments from major markets across the FX, commodities, shares, and indices spectrum. The choice of assets does provide a great incentive for traders to consider opening an account at PlusOption, as even the leading binary options brokers may not be able to provide the sheer choice of tradable assets as provided by PlusOption. Here is a collection of all the PlusOption Binary Assets available for trading:

Forex: 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

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, SAP, SANDISK, SALESFORCE.COM, S.BANK INDIA, ROSNEFT’, RIO-AU, RIO TINTO, PROCTER & GAMBLE, PFIZER, PETROBRAS, PEPSICO, PAYPAL, NETFLIX, MICRON, METRO AG, MCDONALD’S, MAZDA MOTOR, MASTERCARD, LUFTHANSA, LOCKHEED MARTIN, LLOYDS BANK, LINKEDIN, LAS VEGAS SANDS, JP MORGAN CHASE, JOHNSON & JOHNSON, INTEL, HSBC-HK, GROUPON, GOLDMAN SACHS, GODADDY, GENERAL MOTORS, GENERAL ELECTRIC, FERRARI, FEDEX, FACEBOOK, EXXON MOBIL, EBAY, E.ON AG, DISNEY, DEUTSCHE BANK, DELTA AIR LINES, DAIMLER AG, CK HUTCHISON, CATERPILLAR, BRITISH AMERICAN T, BOEING, BMW, BLACKBERRY, BHP-AU, BAYER AG, BASF AG, BARCLAYS, BANK OF AMERICA, BANCO SANTANDER, BAIDU, AXIS BANK, ANZ BANK, AMAZON, ALPHABET (GOOGLE), ALLIANZ SE, ALIBABA, AIG, ADIDAS, 3M, TURKCELL (TURKEY), TEVA .TA, TESCO, TATA MOTORS (INDIA), SBERBANK (RUSSIA), ROLLS ROYCE (LONDON), REUTERS (US THOMSON REUTERS), NISSAN MOTOR, NIKE (US), LUKOIL (RUSSIA), HSBC HOLDINGS (LONDON), GAZPROM (RUSSIA), COCA COLA (US), CITI (US), BP (BRITISH PETROLEUM), BAE SYSTEMS (LONDON), APPLE (US), IBM, MICROSOFT (US)

Commodities: WHEAT, SUGAR, SILVER, PLATINUM, OIL (LIGHT SWEET CRUDE), GOLD, COFFEE

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

By granting access to a varied asset portfolio, PlusOption has managed to stay ahead of its competition. PlusOption has made the positive decision to stick to its strengths, and in turn, has succeeded in roping in more established traders into its brokerage service. The PlusOption choice of instruments also provides an interesting opportunity for amateur traders, as they can experiment with different markets and choose instruments that work well according to their trading characteristics. With access to some of the most popular names in the market, traders can also take advantage of news events, by accessing the suitable asset in a timely manner.

 

Types Of PlusOption Binary Products & Payouts

Traders are also bound to be impressed by the different binary options products offered by PlusOption. PlusOption is a company that not only offers the classic binary option, but also offers various iterations of the product such as long-term, 60 seconds, one touch, ladder, and pair options. The payout for classic high/low binary options products such as 60-seconds and long-term options can reach a maximum of 81% for in-the-money trades, which is a bit lower than what you can receive from other brokers. 85% is the average payout for binary options at some of the leading brokers, with some brokers even offering up to 95% for ITM options.

The minimum return for an asset starts from 70%, which does help in bringing up the average payout across the classic high/low options. However, if you are looking for a better return on your investment, choosing to trade other options such as one-touch and ladder can provide returns up to 1100%. One-touch options are high-risk contracts that enable traders to bet on the future strike price of an asset, which only generates a return if the price touches a predetermined level (set by the broker) at any point within the time of expiry of the option contract. If the price does not touch the price (hence the term one-touch), the trader loses his/her investment, while a touch can generate as much as 400% returns per trade.

 

The Ladder option is an advanced version of the one-touch option, where the options contract has multiple price levels with varying payouts. The payout increases or decreases according to the movement of price across different levels, and the broker once again sets the price levels for creating a ladder-based payout structure. Ladder options are profitable for an asset that follows a strong directional trend and can generate anywhere from 5% to 1500% returns for a single investment. However, the Ladder options have short durations, and it ‘s hard to achieve the maximum gain of 1500% under most market circumstances.

 

The minimum investment per trade can be a bit of concern for smaller traders, as the broker requires a minimum position size of $25 for classic high/low options. The minimum investment is lowered to $10 for Ladder options, but it is still significantly higher than the $1 position sizes offered by other competing companies. The maximum investment ceiling is slightly higher than the normal offerings in the market, as there are different investment requirements specified by different brokerages. The classic binary options have a maximum investment threshold of $5,000, while turbo options (60-seconds) have a higher maximum limit of $7290. One touch options, due to their high-risk nature and the potential higher payouts, have a minimum investment per trade of $50, and a maximum investment per trade of $500. The Ladder options also have a similar position size, with a minimum requirement of $10 and a maximum of $1000 per position.

PlusOption offers an opportunity to invest in traditional FX/CFD products and pair options. Forex trading allows traders to invest with a maximum leverage of 1:300, and a maximum position size of $2000. FX and CFD trading are similar to what you would expect from a normal brokerage, but the number of customisable options and trading flexibility is reduced. Pair options trading, on the other hand, involves trading in assets with a fixed payout, similar to what one would expect from binary options trading.

 

 

PlusOption Platform

The secret behind PlusOption’s incredible binary options products is its PlusOption trading platform. The broker offers the standard SpotOption binary options interface, which is a third-party platform developed for dedicated binary options trading. The SpotOption platform is designed to reflect the needs of modern traders and works extremely well for investing in the markets. SpotOption is developed entirely for trading through a web browser, and it avoids the need for making any downloads or installations.

The SpotOption PlusOption application provides a popular and trusted trading interface, where it is easy to switch between products through an intuitive tab structure. Each binary options product has individual options for choosing the asset and contains a small chart, a trader dashboard, and account history. Traders can customise their trading dashboards to either choose a single asset layout or choose multiple assets through a grid design.

 

The basic chart allows choosing from candlesticks or line charts, and even lets traders to retrieve historical data through multiple time frames. Although the chart for an asset may seem to be a good reference point for traders, the platform does not allow traders to add any technical or custom indicators, which appears to be a disadvantage of the SpotOption platform.

 

Despite the few technical insufficiencies, the SpotOption platform performs as expected. However, the broker claims that there are differences between the rates provided in the platform and the actual prices existing in the markets. The broker makes it clear that the prices in its platforms are the rates that the broker is willing to provide its options, and may not be representative of live market price feeds. Therefore, beware of the price fluctuations and try to position your trades to avoid any significant slippages in prices.

 

 

PlusOption Mobile App Trading

You can download PlusOption apps for iOS and Android devices, which are based on the SpotOption trading platforms. The PlusOption mobile apps are highly futuristic and provide an excellent trader experience with unique user interfaces and advanced trading features. Of course, one can’t expect mobile devices to offer the same level of trading flexibility as the SpotOption web trader, but on its own, the PlusOption mobile trading platform is an excellent choice of platform for smartphone and tablet users.

 

 

PlusOption Minimum Deposit, Payment Methods, & Accounts

With a minimum deposit of $250, traders can open a PlusOption account and start trading with a Bronze account. The Bronze account is the first available account option at the company, which provides only a few basic account facilities such as daily market view and trading alerts in the form of signals. $250 may be slightly inconvenient for smaller traders, even if a majority of mainstream brokers ask their clients to make a minimum deposit of $250 for a trading account. However, once we consider the trading requirements and the minimum trade size of $25 for classic binary options, the $250 minimum deposit indeed makes a whole lot of sense.

The bronze account is the only account that is accessible for retail traders, as the other account options are slightly expensive. The Silver account has a minimum deposit requirement of $2,500, which only offers an additional personal account manager for a brief period of time. We are not sure why the Silver account is rather expensive, as $2,500 may allow traders to open a VIP account at a select few binary options brokers.

PlusOption claims the Gold account, which is its third account option, to be the most popular account choice made by traders. However, we don’t entirely believe the company’s claims, as for $10,000, the Gold account only provides access to a few additional trading services such as a personal analyst, a risk management plan, and a financial plan. These services are available for a fraction of a price from third-party service providers, and may not require traders to deposit $10,000.

 

Comparatively, the VIP account option, the Diamond account, offers more premium services such as priority withdrawal, access to trade rooms, VIP event invites, higher payouts, and introduction to special ventures. The Diamond account may require traders to deposit $50,000 as the initial deposit, but offers more services and better value for money.

 

The payment options are quite extensive, and the broker allows its traders to deposit/withdraw funds using Visa, MasterCard, Skrill, WebMoney, Yandex, and wire transfer. Diamond account holders can expect to receive priority for withdrawals, but all other account holders may be required to wait for at least 48 hours for a successful withdrawal. The actual processing time may vary, and it may also take longer for funds to reach your account. PlusOption is not a regulated broker, which may put additional stress on the trader when it comes to initiating a withdrawal request.

 

 

PlusOption Bonus

The company’s bonus strategy seems to be a mixed bag, as the broker only promises to provide loyalty bonuses to its existing traders. The loyalty bonuses are restricted to gifts and electronic gadgets, which are available according to the points accrued through trading volumes. However, traders may be able to receive up to 100% bonus, but it seems that the broker is highly reserved about its deposit bonus policy. With a high enough deposit, traders may be able to enjoy a large bonus, but it is disappointing that not all traders are treated equally, especially when it comes to offering deposit-bonuses.

 

PlusOption Demo Accounts

PlusOption only offers a live platform walkthrough and a demo video to all users, which seems to be a drastic oversight by the company. While it is true that most binary options brokers tend to avoid demo accounts altogether, PlusOption could have deviated from the industry norms by offering a dedicated virtual trading platform for its users. Nevertheless, the SpotOption live access platform walkthrough should offer a convenient platform to discover all the platform features, and be prepared when it comes to investing real money in the markets.

 

PlusOption Customer Service

PlusOption offers two different direct phone numbers to its offices in the UK and South Africa, but the South African phone number appears to be a virtual office and is more oriented for traders from the African and Asian continent. The UK phone number is the best option for traders to converse with the broker’s representatives, or traders can also use the web contact form or the email form for sending direct messages. The broker has listed an official address in Bulgaria, but there does not appear to be a phone number for the office, and the live chat feature only allows traders to send an email to the broker’s customer service department. As far as the overall customer service efficiency is concerned, PlusOption is slightly inferior to the other established brokers in the industry.

 

PlusOption Binary Options Resources

PlusOption has an excellent database of trading support services, which include comprehensive market analysis and trading signals. PlusOption has an outstanding training program, known as the Plus Academy, along with several articles, e-books, videos, and market reviews that provide an excellent resource for both novice and professional traders. Access to a trading analyst and financial plans for Diamond account holders further make PlusOption a particularly good choice for larger traders.

 

PlusOption Verdict

Pros

  • PlusOption has a broad range of binary options products where potential profits can reach up to 1500%.
  • SpotOption platform provides one of the best trading platform access to binary options trading.
  • Dedicated mobile apps for iOS and Android.
  • An excellent collection of trading resources.

Cons

  • High initial deposit requirements and trade position sizes.
  • Not a regulated entity.
  • Bonuses not available for all traders.
  • The absence of live chat feature for customer support.

 

FAQ

Is PlusOption Regulated By The FCA of the UK?

No, PlusOption is neither regulated by the Financial Conduct Authority of the UK, nor any other agency.

 

What Are The Different Trading Account Options?

There are four different account packages, Bronze, Silver, Gold, and Diamond, with deposits starting from $250, $2,500, $10,000, and $50,000 respectively.

 

What Is The Payout For Classic Binary Options?

The maximum payout for classic high/low options is 81%, while ladder options can provide a payout of up to 1500% for select assets.

 

TRADE AT PLUS OPTION