RedwoodOptions is an exciting new binary options website from the same team that brought us TradeRush. As you know, we are big fans of TradeRush. It’s a reliable website with a lot of excellent features. RedwoodOptions is a newer site, but seems to offer the same great service and features as TradeRush, not to mention a larger maximum investment amount. They also have higher payouts than TradeRush, which may be another reason to trade here instead of there.
- Official Website: www.RedwoodOptions.com
- Headquarters: London, UK
- Phone Number: 1-800-986-6750 (USA and Canada). Check out Contact Us Page for other methods
- USA Traders Allowed
- Trading Platform Used: SpotOption
Is RedwoodOptions a Scam Or Legit Broker?
Questioning the reputation of RedwoodOptions, or any binary option broker is always a smart question to ask. Anyy time you are thinking of investing your money with a binary company you should search for the brokers name + scam in google. In this case, we can say quite confidently that RedwoodOptions is not a scam. Try not to confuse them with Cedar Finance, a similarly named company run by some pretty shady operators. We can trust RedwoodOptions because we trust TradeRush. Check out our TradeRush review here. We have yet to find any customer complaints about RedwoodOptions anywhere online.
- Minimum Deposit: $200 or equivalent. $500 for wire transfer.
- Deposit Methods: Credit or debit card, wire transfer.
- Deposit currencies: US dollars, British pounds, Euros, Australian Dollars, Canadian dollars.
- Minimum withdrawal amount: $100
RedwoodOptions Bonus Information
You can get a bonus as high as 100% on $5,000-$10,000 with a Gold account, which is the largest account offered by this broker. Other options include the Mini account (30% bonus on $250-$999), or the Executive account ($1,000-$4,999, which includes a 70% bonus). These are leverage-based bonuses. You need to achieve a certain turnover in your account before you can claim the bonuses as cash. There are also referral bonuses available. You can get $50 for referring a friend, and your friend can get $50 as well.
The larger your account, the more benefits you receive on top of the bonus. Mini accounts come with daily market reviews and free support. Executive accounts come with both of those features plus faster withdrawals, a video platform walkthrough, 1 free trading strategy, money management training and portfolio structure. At the highest level with the Gold account, you get everything in the first couple of account types, plus breaking news, a senior account manager, same-day withdrawals, three strategies, and advanced portfolio structure.
When you sign up for an account, you will be able to choose which type of account you want when it comes time to deposit. Basic registration is free and only takes a couple of minutes to complete. After that, you can make your first deposit and select the account tier you would like while you are funding your account. When your money is in your account, you will be able to trade. If you accept a bonus, remember to treat the bonus as leverage and not as cash, and take that into account with your money management decisions.
Types of Binary Options Trading at Redwood Options
- Types of Options: High/Low, One Touch, 60 Seconds, Option Builder, Open Platform.
- High/Low Payouts up to 85% (this is higher than TradeRush’s payout).
- One Touch Payouts up to 500%.
- No out of money reward. This is not a particularly bad thing in light of the fact that they have higher payouts.
- Expiry times: 60 seconds, 15 minutes, 30 minutes, 1 hour, 24 hours+.
- Minimum trade amount: $10 or $5 (for 60 second trades).
- Maximum investment amount: $5,000 (twice that of TradeRush).
- No mobile trading.
- No demo account.
This is a standard selection of options typically available on SpotOption powered websites. As you will see, the SpotOption platform is incredibly easy to read, understand, and use. You can learn to trade any type of binary options within minutes. High/Low is your most basic trade type, while One Touch is a simple variation. 60 Seconds is just like High/Low, except that all the expiry times for the trades are one minute. On Option Builder, you can customize your trades, which is perfect if you have an expiry time in mind that is not offered on the other trade types. Open Platform includes an enhanced chart which gives you a better view of what is unfolding on the market before you trade.
Assets Available For Binary Trading at RedwoodOptions
On RedwoodOptions, you can trade a variety of financial instruments, including stocks, indices, currencies, and commodities. You can view the full list below, or scroll down to read about customer service and our closing thoughts.
BP (BRITISH PETROLEUM)
COCA COLA (US)
HSBC HOLDINGS (LONDON)
TATA MOTORS (INDIA)
REUTERS (US THOMSON REUTERS)
BAE SYSTEMS (LONDON)
ROLLS ROYCE (LONDON)
OIL (LIGHT SWEET CRUDE)
MICEX 10 (MOSCOW INTERBANK EXCHANGE)
TEL AVIV 25
SSE180 (SHANGHAI STOCK EXCHANGE)
HANG SENG (HONG KONG)
KUWAIT (KUWAIT GENERAL INDEX)
DUBAI (DUBAI FINANCIAL MARKET GENERAL INDEX)
TADAWUL (SAUDI STOCK EXCHANGE)
MSM 30 (OMAN)
RTS (RUSSIAN TRADING SYTEM)
ISE 30 (ISTANBUL STOCK EXCHANGE)
FTSE 100 (UK)
S&P 500 (US)
Customer Service at RedwoodOptions
RedwoodOptions offers customers several ways to get in contact if there are questions or issues. You can either email or use the web form to get in touch, or you can use the site’s live chat feature or call on the phone. There is a toll-free phone number, which is a great feature. Most brokers do not offer this option. Reviews of RedwoodOptions online all point toward great customer service as a key feature of this binary options broker.
Conclusion & Final Thoughts For Redwood Options Binary Broker
Overall, RedwoodOptions is a great deal like TradeRush, but the site is newer, and offers a higher payout on winning trades, as well as a more flexible ceiling for investments that may appeal to customers with larger accounts. There are a couple of drawbacks; mobile trading would be a nice feature, and demo trading would be an even better one. They do however have plenty of useful tools and very high bonuses for all their account holders. Once again, the benefits increase the larger your deposit—but RedwoodOptions makes their platform accessible to traders with very small accounts as well. They are a flexible broker operated by a company with a strong reputation, and while they are still quite new, we are certain that they are going to become very popular very fast.