Option.fm- the binary options broker that suddenly burst on the scene in 2014- had everyone talking about it almost instantly. A large majority of us were left wondering as to how the broker gained such an insane amount of publicity in the short time-frame. Thus, as always, we decided that it was time for us to investigate this broker attracting large crowd of binary options investors despite of being in its infancy.
As we clicked on the icon that led us to the website of the broker- we were instantly amazed. The menus were there to guide as needed, and they were arranged in a simple and organized manner. The website was well-designed and was impressive. We were a bit hesitant to sign up for accounts- for we first wanted to see if the website was as good as it looked and appeared to be from the customer reviews.
- Online since: 2014
- Based in: UK
- Software: SpotOptions
- Maximum Returns: 91%
- Bonus: 100%
- Minimum Deposit: $250
- Minimum Investment: $1
- Maximum Investment: $5,000
- Currencies: GBP, USD, EUR
- Mobile Platform: Yes
- Countries: All countries except Africa and USA
- High deposit bonus
- ROI is as much as 91%
- Large number of options
- User-friendly platform
- Minimum investment is just $1
- Customers from Africa and USA cannot use it
- No customer support for trial account holders
One of the best things about Option.fm is how easy the signup process is. It just requires filling up a simple form for identity verification-, which again helps you be sure of your safety, and tells you that Option.fm does a lot for protecting your personal information.
The minimum deposit amount is just $250, which is the lowest that anyone looking to trade in binary options will have to invest. With that considered, there is no limitation, and those looking to trade can start an account with an amount greater than this. Just like most of the other binary options brokers, a lot of signup bonuses are given to Option.fm account holders, and the more is the deposit, the greater will the signup bonus be. Thus, for customers looking for a substantial signup bonus, all they have to do is load more money in the new Options.fm account.
When it comes to bonuses, Option.fm has a lot to offer- especially the signup bonus. Traders can always benefit from a few extra dollars in their trading account, even more so when they come for free. These bonuses are beneficial for those learning how to use a new trading platform, and give more freedom for experimenting with a host of trading strategies while keeping the original funds safe.
Just like other binary options brokers, the new deposit bonuses vary depending on the initial deosit made. The bonus can be up to 100% on certain account levels, and the company then matches it to the $10,000 maximum bonus level.
While there are quite a few brokers with high bonuses-, what sets Option.fm apart is that the bonus money that one gets can be withdrawn. Almost every other binary options broker follows the opposite, since they are trying to protect themselves from users who sign up, withdraw the bonus and then leave the platform. They have some form of amount that has to be traded before the withdrawal of deposit bonus is done. This amount is in the range of 30 to 50x of the first deposit. However, it is the lowets on Option.fm- requiring you to trade just 20x of the initial deposit amount before the bonus funds can be withdrawn.
Account Types at Option.fm
The deposit bonus that you get is tied up to the account type you will be provided. The higher your deposit is, the higher-level account will you get to start with- and thus you will also get more benefits on the website. This is why you should consider starting with a big initial deposit. These side benefits along with the deposit bonus are among the things that you will require for making more profits.
Option.fm caters to hardcore as well as novice binary options investors- and they have kept this in mind to have account levels for all types of users. Let’s go ahead and analyze the different account levels on offering.
- Trial Account
A trial account is for the investor who is just looking at the website and does not have a lot of (or zero) experience in trading with binary options. This account level requires you to just make the $250 minimum investment. Investments equal to or less than $999 will get you this account level. The features of Trial Account are:
- You can select from over 90 assets for placing trades on.
- There is a choice of 4 trading platforms.
- The Option.fm daily marketing anywise professionals will send you the latest news.
- 0 commissions and service fees.
- Boutique Account
Boutique Account is the most preferred account type on Option.fm, and works well for binary options trader of any experience level. For getting this account, you have to make a deposit that is between $1,000 and $9999, both inclusive. The features that you get with this account include:
- All benefits of the Trial Account
- Access to free trading webinars
- Priority customer support
- You are given access to a professional broker
- Special individual training sessions
- You get a binary options eBook for helping you learn trading
- Risk management advice
- You get your weekly performance report compiled by an expert account analyst
- Executive Account
This is the account level that takes your trading up to a new level. For the ones who think of themselves as professional traders, this is the account to go for. To get an executive account, you have to make a deposit that is at least $10,000, up to the limit of $49,999. The features that you get with this are as follows:
- All the features of Boutique and Trial Accounts
- You will get daily trading signals via email, mobile device or chat
- You are provided with a priority pass to access the online webinars
- Personalized calls before any large market event
- Subscriptions for major financial magazines for free
- Imperial VIP and Corporate Account
The heavy hitters and big boys, who can afford to put in a lot of money while trading binary options are the ones who will be needing the Corporate Account. It requires you to make a minimum deposit of $50,000 or more. The benefits that come with this account include:
- All benefits given in the previous account levels
- A direct line of access to the VIP Analysts and brokers
- Priority VIP educational assistance
- Insured account for investments
- Travel and concierge benefits
In our recommendations, a key factor that we consider is how good the online brokerage sites are at helping enhance their investors’ knowledge, and Option.fm does pretty well here.
A demo account is among the best resource that any online brokerage can offer. With a demo account, new traders are able to learn their way around a new platform without risking their money. Demo accounts also help in learning the finer points of binary options trading without losing the hard-earned investment capital.
The informative ebook that is provided by Option.fm has knowledge ranging from basic binary options learning guides to the advanced strategies for trading. The information given in the ebook is ideal for both novice and experienced traders.
Another great information medium that Option.fm prvides is webinars. Option.fm continuously tries to add more ways for helping its investors increase their skill level when it comes to binary options trading.
Platform and UI
No investor likes going on a platform that is a hassle to navigate and does not follow an organized design structure. Option.fm does really well in this department by choosing the highly renowned SpotOption software for trading. This trading platform is easy to use for novice as well as experienced traders. In fact, SpotOption is nothing less than a bonus for those who choose Option.fm.
Asset Selection is one the areas where Option.fm performs exceptionally well. Traders prefer to have a large variety of assets to select from, and Option.fm is a broker that has over 90 different types. There is something for every type of investor on Option.fm, and you are sure to find assets that you know about and can make a profit trading in. Those trading on this broker can choose from stocks, matched currencies, major indices and commodities.
Placing a Trade
Trading experience at this broker is a pleasurable experience, primarily due to the trading software SpotOption and the innovative enhancement that Option.fm has provided it. The trading pages are designed in an organized fashion. The trades are very easy to execute, and it just requires a few clicks with your mouse to complete.
The different options that Option.fm offers include One Touch Options, Long Term Options, 0-second options High/Low Options and Ladder Options. All this variety comes gives traders a lot of flexibility while choosing trades. Apart from this, there are numerous expiration times on the options choices to choose from.
For those who like to trade on the move, option.fm has a mobile application as well. The mobile platform gives direct access to trading, thus giving the freedom to trade while on a break, or during recess in events and even as you travel to/from your workplace.
Maximum Gains (Payouts)
All of these educational tools, easy to use platform and the various trading choices- what do these come together to provide? The large array of choices to consistently make binary options trades that fetch you profits. Traders who use the Option.fm platform have a good chance of making significant gains- with traders having experience returns of up to 91% on their investments. This exact figure is much better as compared to the returns that most other services can boast of.
We already mentioned the ease of making deposits and account on the Option.fm platform. They accept a large number of payment methods for making deposits, including wire bank transfer, Visa & MasterCard, Visa Electron, CashU, Paypal, Ukash, Skrill Moneybookers, Neteller and Inpay. All of this variety ensures that there is sufficient variety for accommodating the requirement of any traders with respect to the payment platform they prefer.
Making a withdrawal is also very easy, and you can select from any of the methods mentioned above. The minimum amount that you must have for a withdrawal is $80, with the average processing time being 1 working day. This is what makes Option.fm’s processing time the fastest as compared to any other broker. However- this is not an absolute number, and varies with the withdrawal method selected.
The only issue in Trade.fm seems to be its customer support. They call it a work in progress, and considering how new the service is, this is not unexpected. When the customer support team does get back to you, they are helpful, thorough and ensure that your issue is addressed. The problem may not be with the customer support team but with the fact that trial account members do not get it, and they are just setting up things like e-mail support.
With everything that we have seen so far, we are confident in stating that all the hype generated by Trade.fm was legitimate. Our entire team that looked and experienced Trade.fm did not have any issue in recommending it as a great choice for binary options trading. The demo account, the high ROI and low minimum investment are a few features that make them stand out from the crowd. The site comes with the right set of tools and trading platform to help binary investors make a good profit. Option.fm also has compatibility with Binary Option Robot auto trading software.
- Customer Service: Email and Live Chat
- Languages: English, Dutch, Spanish, German, French
- Trading Options: High / Low, One Touch, Option Builder, Meta Charts, Ladder Options
- Early close: Yes
- Expiry Times: 30 sec, 60 sec, 2min, 5min, 1 hr
- Deposits and Withdrawals: Wire bank transfer, Visa & MasterCard, Visa Electron, CashU, Paypal, Ukash, Skrill Moneybookers, Neteller and Inpay
- Withdrawal Time: 1 – 2 working days
- Demo/Trial account: Yes