Review of TopOption

TopOption

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Details

Broker	TopOption
Website URL	https://www.topoption.com/
Founded	2008
Headquarters	Cyprus
Support Number	+442038073061
Support Types	Live Chat, Support Mail
Languages	Swedish, Russian, Dutch, Japanese, English, Spanish, French, German, Italian, Norwegian, Chinese, Polish, Arabic, Romanian, Portuguese
Trading Platform	SpotOptions
Minimum 1st Deposit	$100
Minimum Account Size	$100
Minimum Trade Amount	$5
Maximum Trade Amount	$4000
Bonus	No bonus available
Payout	82%
Free Demo Account
Regulated
Regulation	Regulated by Cysec
Account Types	Starter Account, PRO Account, VIP account
Deposit Methods	Diners Club, WebMoney, Visa, MasterCard, Bank Wire
Number of Assets	180+
Expiry Times	60sec, 15min, 1hr, 24hr, End of Day
Types of Assets	Currencies, Commodities, Indices, Stocks
Option Types	High/Low options, One Touch options, 60second options, Long Term Options, Option Builder, Meta Charts, Pair Options
Account Currency	USD, EUR, GBP, PLN
US Traders Allowed
Mobile Trading
Tablet Trading
Overall Score	4

Pros

• Low minimum investment
• User-friendly interface
• Many years of experience

Cons

• Doesn't accept US customers

About TopOption

TopOption is a brokerage website that trades in binary options. It has a good reputation among traders because they have been proven to be reliable time after time. This brokerage website also has years of experience under its belt as well as a high return on investments. TopOption has 180 available assets options to trade on their website, which is much more than other companies. There is also a good variety of assets. TopOption has a user-friendly interface and trading system which are regulated by the well respected Cyprus Securities Exchange Commission agency. For newcomers there is an option to try using TopOption with a demo account. This allows users to see if they want to use the website or not. Traders who do end up making an account have to make a small minimum investment before they can start making actual trades.

History/Background

TopOption opened to the public in 2012 and received its official licensee from the Cyprus Securities Exchange Commission in the same year. Soon after it became part of the European financial services market which allowed for greater recognition and increased its number of traders. TopOption is also supported by the EU. Since then it has been expanding its reach to more and more counties so more traders can join. Recently, it has added a mobile device option.

Geographical Spread

When it first launched TopOption was only available in Europe. Now it hosts traders from all over the world, excluding those from the United States, Canada, Japan and Israel. It uses the United States dollar, the Euro, British Pound, and Polish Zloty.

Services

TopOption has several services that can be accessed by traders. The availability of most these services depend on which account a user has. These accounts range from those who just was to do some trading as a hobby, to those who take trading as a serious profession. Below are the list of accounts that can be found on TopOption and the services that come with them.

Starter Account

This account requires a deposit of $100 to $249. Traders that have this account experience $0 fees and commissions. They also have access to standard account manager services, mobile platforms, tools for risk management, e-book learning, starter guides, e-video content, Newsroom alerts and economic updates.

Pro Account

This account requires a deposit of $250 to $999. Traders that have this account experience $0 fees and commissions. They also have access to mobile platforms, tools for risk management, e-book learning, e-video content, newsroom alerts and economic updates just like a Starter Account. Additionally, they have advanced guides, three hours of one-on-one training and a professional account manager.

VIP Account

This account requires a deposit of $1000 to $5000. Traders that have this account experience $0 fees and commissions. They also have access to advanced guides, mobile platforms, tools for risk management, e-book learning, e-video content, newsroom alerts and economic updates just like a Starter Account. Additionally, they have unlimited one-on-one training, an elite account manager, off trading hours, Trading Central access and free SMS signals.

In addition to these types of accounts and the services that they provide, traders also can user the TopOption learning tools. These learning tools are available to anyone who has an account and can help explain how different trades work. This makes traders more likely to succeed in the future.

What Can You Trade

TopOptions specialize in in binary options. Binary options are assets that are traded at a specific price. If the assets’ price rises or falls in value the payout remains at the set value. What matters is if it rises in price or falls.

TopOptions has 180 assets for traders to choose from. These assets include pre-selected currency pairs, popular commodities, stocks and stock indices. The minimum investment required to open a trade is $5. TopOption only chooses assets that have proven to be stable within the trading market, making the chance of winning much more likely. TopOption does not charge any commissions or fees on trades.

Traders can also “double-up” if they are confident in the market direction or they can “roll-over” to postpone their trade expiry.

To place trades on TopOption a user just needs to search for an asset they would like to trade and what type of trading system they want to use. TopOption implements the common one touch, 60 second, long term, meta charts, pair and high/low options for trading. There is also the “option builder” feature that allows traders to pick and choose different trading options with different assets, making it a custom experience.

Trading Software

TopOption implements one of the most popular binary options trading platforms available. The SpotOption trading software has been modified to make it user-friendly, secure and fast. SpotOption offers a satisfying trading experience with a simple layout and logical menu options.This trading platform can be used through web and mobile devices. There is no need to download any extension or application. This allows users to start trading right away. This trading platform is the same across the various account options TopOption provides its traders. More expensive accounts do not get a different layout.

Bonus Offers

TopOption offers either a 50% bonus for customers who deposit between $200-$499 or a 100% bonus for a deposit of $500 for those who deposit $500 or greater. Other than that there aren’t too many bonuses.There haven’t been many complains from traders because the cost of making an account is much lower than other brokerage websites. TopOption bonuses include personal one-on-one training from professional binary option traders, access to five exclusive e-books, video tutorials, online economic calendars with the predicted rise and fall of assets, latest breaking business news, market analysis, 24/7 support, and giveaways. These bonuses are available to anyone who has created an account.

Customer Support

TopOptions’s customer support is available 24/7 and can be contacted by email, phone and live chat. The brokerage website wants to make sure that all their traders around the world can have any issues solved in a timely fashion. To make this possible they have representatives that can speak English, Romanian, German, Russian, Spanish, French, Italian, Swedish, Dutch, Japanese, Arabic, Portuguese, Chinese, Norwegian and Polish. There aren’t too many negative reviews of TopOption’s customer service.

Deposit & Withdrawals

TopOption saw some unstable banking situations but that changed as soon as they switched to using some of the more reputable banks in England, Germany and Switzerland. Users will not have to worry about entering their information into the old Cypress banking. Traders can deposit and withdraw with credit cards such as Visa and MasterCard as well as bank wire transfers, Diners Club and WebMoney. TopOption’s minimum deposit is $100 while withdrawals have to be over $1. Withdrawals requests can take up to 48 hours to be processed and a maximum 7 business days for funds to arrive in the account the trader specified. Traders can not withdraw the bonus amount that they earn when making a new account. Users must make the equivalent of forty times the value of the bonus amount they earned before they can make a withdrawal. Other than that, TopOption doesn’t charge any withdrawal fees.