Review of SigmaOption

SigmaOption

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Details

Broker	SigmaOption
Website URL	https://sigmaoption.com/
Founded	2015
Headquarters	United Kingdom
Support Types	Live Chat, Support Mail
Languages	English, German, Italian, Swedish, Arabic
Trading Platform	SpotOptions
Minimum 1st Deposit	$250
Minimum Trade Amount	$20
Maximum Trade Amount	$3000
Bonus	up to 100% Deposit Bonus
Payout	91%
Free Demo Account
Account Types	Standard, Silver, Gold, Premium
Deposit Methods	Visa, Mastercard, Bank Wire, Diners Club, Visa Electron
Withdrawal Methods	Visa, Mastercard, Bank Wire, Diners Club, Visa Electron
Expiry Times	60sec, 15min, 30min, 24h
Option Types	High / Low, One Touch, 60seconds, Long Term, Pair Options, Ladder Options
Account Currency	USD, EUR, GBP
US Traders Allowed
Mobile Trading
Tablet Trading
Overall Score

Pros

• Provide Islamic accounts
• SpotOption Software

Cons

• No demo account

About SigmaOption

SigmaOption offers web-based binary trading in a wide variety of assets. Their user-friendly platform provides a place for both private and institutional investors to trade. SigmaOption boasts benefits for its users such as a clearly explained trading process, a wide range of products, clear statements regarding risks and profits within each of their options, and an easy and fast process for making deposits and withdrawals.

Availability

SigmaOption seeks to provide trading options to users around the globe. Their website has been partially translated so as to provide high quality service to users in their native languages. The available languages are: Arabic, Dutch, German, Italian, Russian and Swedish. While only parts of the website are available in these languages, the entire trading platform has been translated into each language so as to simplify the trading process for non-native English speakers. They also offer Islamic accounts, which is a rare find when it comes to binary trading brokers. However, it is important to note that SigmaOption is not available in all countries such as the USA and the UK. Additionally, it is not available to residents of those countries.

Accounts

SigmaOption offers four different account types for its users. These account types are Standard, Silver, Gold, and Premium. Each account type requires different minimum deposits, and includes more advanced features with higher deposit amounts.

The lowest level account that SigmaOption offers is the Standard account. Standard accounts require a minimum deposit ranging from $250 to $1,000. These accounts include an account manager, a beginner’s financial market university package, and a 30 percent bonus.

Silver accounts require a minimum deposit ranging from $1,000 to $5,000. Similar to Standard accounts, Silver accounts offer an account manager. However, in addition to an account manager, Silver account holders are also entitled to a 50 percent bonus and a full financial market university package that includes e-books.

Users can open Gold accounts with a deposit ranging from $5,000 to $15,000. Like Silver accounts, Gold accounts include a full financial university package, including e-books. Added features to Gold accounts include a senior account manager, a 70 percent bonus, daily signals and high returns up to 87 percent.

Premium accounts are the highest level accounts available to SigmaOption users. These accounts require a minimum deposit of $15,000. They include some options that are similar to Gold accounts such as a senior account manager and the full financial market university package. However, Premium accounts have other advanced features such as signals 3 times a day, a 100 percent bonus, high returns up to 91 percent, and weekly webinars.

Customer Support

Online support staff are available to assist clients 24 hours a day, seven days a week. A SigmaOption representative can be contacted via email, phone, or the website’s contact form. Registered SigmaOption users also have the option to communicate with a representative via the website’s live chat feature. In addition to the support staff available, the website itself contains a frequently asked questions page that provides a fairly large amount of detailed information related to how to use the platform, open an account, and deposit or withdraw money. Additional information provided includes a brief overview of the trading process. This overview includes key terms that will be helpful to users who are new to the process of trading binary options. The SigmaOption website also includes an education tab that contains articles and video courses about binary trading, strategy advice for trading, and real time charts and an economic calendar that assist users with analysing the market.

Software

SigmaOption utilizes SpotOption software. Their platform is entirely web-based and does not require its users to download any additional software. They also offer mobile trading options via iOS and Android applications. The trades offered by SigmaOption include over 200 different types of assets in the form of currencies, commodities, indices and stocks. Clients can trade these assets in a variety of ways utilizing pair, high-low, long term, 60-seconds, ladder, forex, or one touch options.

Promotions

Users can take advantage of trading bonuses or preferred trades by contacting their account manager to request a bonus trade and to receive the latest information as far as the requirements for receiving bonus trades. Preferred trades with SigmaOption may have a preferred strike price, an extended expiration date, a risk-free investment, or some combination of these three features. The basic requirements for receiving a bonus trade are that the user complete all compliance documents, deposit new funds into his or her account, and sign an additional set of terms and conditions. However, as previously mentioned, it is important that users contact their account managers so as to learn about any other conditions that they must meet. Users should also be aware that in order to withdraw a bonus, they must execute a trading volume that is worth 30 times the full amount of the bonus.

SigmaOption also offers several different promotions to new and existing users. The VIP promotion offers three different packages to qualified traders. The Trading Signals package offers up to an 80 percent success rate and is optimized for trading binary options. The 1-on-1 Training package offers personal training lessons with SigmaOption’s top analysts, professional education materials, and advanced trading tools. The Algo Trading package offers 100 percent automatic trading with optional risk levels such as conservative, balanced, and aggressive. The Winning Streak promotion offers users the chance to win up to 1,000 times their initial investment if they achieve a winning streak of trades. The Fresh Start promotion provides users with a chance to regain funds that they lost trading through another broker, the lottery or sport betting.

Payment methods

Users can deposit and withdraw funds by credit card, bank wire transfer, debit card, Carte Bleue or WebMoney. SigmaOption utilizes several different security measures, including SSL technology, so as to protect its users personal and financial information. Any funds that users deposit are held in segregated accounts that are insured. The currencies that can be utilized are the Euro (EUR), the US dollar (USD), and the British Pound (GBP). Users can select any of these currencies when opening an account. However, after a user has registered an account, he or she cannot change the currency selection.

Prior to making a deposit or a withdrawal, users must provide accurate personal identification documents upon establishing their accounts. The documents required by SigmaOption are a picture ID such as a passport, proof of address such as a utility bill from the last six months that has the user’s name listed as the account holder, and a copy of the user’s credit card if he or she will be making deposits and withdrawals via credit card.

Users can make deposits easily and quickly by logging into their accounts and clicking the deposit tab. At this point the user will select whether he or she would like to make a deposit by credit card or by wire transfer. The user will then fill out the appropriate online forms to make the deposit. Users should note that they cannot make third party deposits, meaning they can only use credit cards or bank accounts in their own names. The minimum deposit amount for both credit card and bank wire transfer deposits is EUR/USD/GBP 250. The maximum deposit amounts differ between the two, with the maximum for credit card deposits being EUR/USD/GBP 5,000 per single transaction, while the maximum deposit amount for wire transfers is unlimited.

SigmaOption does not have a minimum withdrawal amount. Users who wish to withdraw funds from their accounts must utilize the same method for withdrawal as they did for depositing funds. This means that users who made deposits via credit card must make withdrawals to their credit cards, while users who deposited funds with a bank transfer must withdraw funds using their bank accounts.